Yet another U.S. regulator is entering the foreign corruption space. The Commodity Futures Trading Commission is a civil agency that oversees commodity and derivatives markets in the United States. It enforces the Commodity Exchange Act, a set of statutes that are enforced criminally by the U.S. Department of Justice. The…
Continue Reading Beyond The FCPA: New U.S. Regulator Enforcing Against Foreign Corruption

For the first time in 133 years, Angola has a new penal code. On January 23, 2019, the National Congress of Angola approved the new code, which will replace the one put in place by the Portuguese just after the Congress of Berlin, where the European powers divided Africa…
Continue Reading Angola: Ramping Up the Fight Against Corruption

With an emerging middle class of 400 million people, 10 of the fastest growing economies globally, and the most youthful population of any region, Africa is a continent of significant opportunity. There are also risks, as there are anywhere, including the challenge of combatting corruption, navigating opaque regulations and developing…
Continue Reading Tips for Commercial Success in Africa

  1. Africa’s Growth Prospects. Africa’s gross domestic product (GDP) is expected to grow at 3.8 percent in 2019, which is a significant improvement over last year’s regional growth rate of 2.6 percent. Excluding the continent’s largest economies (Angola, Nigeria and South Africa), which are growing collectively at an average of 2.5

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Continue Reading Top Ten Issues to Watch in Africa in 2019

Tebogo Movundlela is the CEO of Aurora Wind Power, which is operating the West Coast 1 wind farm in South Africa. Owned by a consortium formed by Engie and South African investors (Investec Bank Limited and Kagiso Tiso Holdings), Aurora Wind Power celebrated the commercial operation of its 94 MW…
Continue Reading Throwing Doubts to the Wind: an Interview with Tebogo Movundlela, the CEO of Aurora Wind Power

Vive le Prezida!  Madagascar Presidential Elections of 2018

In November and December 2018, Madagascar went through two rounds of presidential elections. These were supposed to pull the country out of its marasmus of irregularly changing leaders that bedeviled its entire 20th century history.

In 2001, election results were disputed…
Continue Reading Vive le Prezida! Madagascar Presidential Elections of 2018

Last week, the Trump administration launched an Africa policy that seeks both primacy and partnership on the continent. The administration’s efforts at partnership, especially as it relates to promoting U.S. business on the continent, are likely to be far more lasting and consequential.

Ambassador John Bolton set the tone for…
Continue Reading The Trump administration’s Africa strategy: Primacy or partnership?

This is the first of a three-part blog series modified from the Renewable Energy Law Review’s Chapter on South Africa, written by Covington’s Lido Fontana and Sharon Wing. The full article as published in the Law Review is available here.

The fundamental driver for renewable energy projects in South…
Continue Reading Transformation of Renewable Energy in South Africa

In March 2017, World Bank Group president Jim Yong Kim announced that the World Bank would provide a record $57 billion in financing for projects in sub-Saharan Africa in the 2018–2020 fiscal year period. Consistent with that commitment, the World Bank’s most recent annual report indicates that $19.8 billion was…
Continue Reading What Companies Need to Know About World Bank and African Development Bank Debarment (and How to Avoid It)
We are pleased to share that partner Ben Haley has relocated to the firm’s Johannesburg office to lead the firm’s Africa-focused compliance and investigations efforts. Mr. Haley is an experienced compliance and investigations lawyer who assists corporations and individuals in navigating the dynamic enforcement environment. In addition to representing companies

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Continue Reading Covington Strengthens Africa Practice with Key Additions to Johannesburg Office