Legal Developments

Tanzania  

New Special Wildlife Investment Concession Areas Regulations allow for areas of land within game reserves and game-controlled areas to be designated special wildlife investment concession areas. The regulations also set capital thresholds for local and foreign companies: for local companies, the minimum investment is USD20-million, unless the local company is 100% owned by Tanzanians, in which case the minimum capital required is USD10-million; for foreign companies, the minimum capital is USD50-million.

Angola

The Law of Financial Institutions – New Regime, Law 14/21, of 19 May 2021 was recently enacted. The main objective of the new law is to update and modernise the legal framework related to financial institutions in Angola. Among others, the law introduces relevant changes to the intervention and supervision of the institutions participating in the Financial Sector. 

Political and Economic Events – by ARC

Zambia

Constitutional Court rules in favour of President Edgar Lungu’s reelection bid in August, throwing out a second opposition challenge to his eligibility on the basis of the constitutional two-term limit.

Nigeria 

President Muhammadu Buhari launches Nigeria’s Integrated National Security and Waterways Protection Infrastructure programme, also known as the Deep Blue Project, which aims to combat maritime insecurity in Nigerian waters and the Gulf of Guinea.

South Africa 

President Cyril Ramaphosa says government is to amend the Electricity Regulation Act to raise the exemption threshold from 1MW to 100MW, meaning generation projects up to 100MW will be exempt from applying for a license.