Traditionally, the development of risk management plans is tailored to address assessed and quantified risks. There is however always the ‘the unknown factor’. Enter the COVID-19 pandemic. Of course, we have faced localised pandemics before, but never one on such a globally synchronous scale, thanks to global travel and trade. It propelled the entire world into unchartered territory as mass economic and travel lockdowns were implemented, and contingency plans were hurriedly rolled out. For many industry sectors and businesses already teetering on the brink, it has been a crisis of unprecedented scale – a black swan event that simply cannot be quantified or dealt with, without the benefit of hindsight.

The #EndSARS movement is at a turning point. In the baseline forecast, institutional inertia militates against substantive reform despite nominal changes; however, decision makers should consider at least three alternative scenarios.

On 20 October, Nigeria’s police and army shot unarmed #EndSARS protesters at Lekki and Alausa in Lagos. Amnesty International says at least 12 protesters were killed in that crackdown. Since then, there has been widespread public disorder in the country.

Nigeria is Sub-Saharan Africa’s largest economy, but the country has struggled with slow growth and persistent economic imbalances for years. Given the severe shock posed by this year’s sharp global downturn, what does the future hold for Nigeria’s already fragile economy?

This webinar will examine the factors that have held back growth in Nigeria in recent years, and will explain the effects that the pandemic is having on the economy. We will also examine the state of the crucial oil sector, which is suffering due to low energy prices but which will still have to play a key role in driving growth over the coming years.

The webinar will focus on the macroeconomic and political outlook for the Sub-Saharan African region and major regional economies as the Covid-19 pandemic continues to play out, and on the prospects for recovery into 2021.

15th October 2020, Nairobi: 4G CAPITAL GROUP Limited (“4G CAPITAL”), a market leader in technology-driven financial inclusion, Citi, U.S. International Development Finance Corporation (“DFC”) and the Ford Foundation have collaborated to expand financial inclusion through the provision of working capital to support the growth of micro-enterprises in Kenya.

4G Capital will receive a KES 285M term loan from Citi that will reach more than 25,000 micro-enterprises. As part of the collaboration, 4G Capital and Citi will work to address the inventory finance needs of last-mile distributors of fast-moving consumer goods (FMCGs). The loan is part of the Scaling Enterprise guarantee facility, a Citi partnership with DFC and the Ford Foundation that enables earlier stage, innovative and inclusive businesses in emerging markets to access local currency commercial bank financing.

Press release

10th October 2020

Mediterrania Capital Partners’ portfolio company Akdital Holding expands its oncology care offering to cover the periphery of Casablanca

Casablanca. Mediterrania Capital Partners, the Private Equity firm focused on growth investments for SMEs and mid-cap companies in North and Sub-Saharan Africa, is pleased to announce that its portfolio company Akdital Holding has opened a new oncology department providing diagnostic and treatment services at the Casablanca Ain Sbaâ private hospital in the Hay Mohammadi Ain Sbaâ prefecture.

Global law firm Clyde & Co advised the Federal Government of Somalia on its new 14-year concession agreement with Turkish contractor Albayrak Group for the rehabilitation and operation of the Port of Mogadishu.

Clyde & Co acted as sole legal adviser to the Federal Government of Somalia on all aspects of the matter, including drafting and negotiating the key transaction documents, as well as providing strategic advice on due diligence and regulatory approvals. Clyde & Co’s mandate was underpinned by the African Legal Support Facility.

In Africa, last mile distribution continues to be one of the biggest challenges that governments, donors and firms face when attempting to deliver products and services at scale.

The challenge is particularly acute in rural areas, where infrastructure and connectivity are often poorer and educational levels lower. Cultural and language differences between regions, along with more recent challenges brought by the COVID-19 pandemic, further complicate matters.

Cheryl Buss, Chief Executive for Absa International discusses leadership in the financial sector

As somebody who occupies a leadership role in one of the largest financial hubs in the world, I spend a lot of time thinking about role models and the type of people you need to drive a successful, ethical and value-driven organisation.

Without question, 2020 has been a watershed year for those occupying leadership positions and those tasked with steering us through this crisis are in uncharted waters. The decisions they take today will impact generations for years to come.

We are pleased to present the latest edition of our Africa newsletter.

In this month’s newsletter, we’ve looked at some of the trends that are emerging across the continent in terms of dispute resolution and, in particular, increasing activity in the international arbitration space. As one of our contributors pointed out, the role of corporate counsel in Africa is diverse and challenging. This brings home the necessity of resolving disputes effectively and efficiently, so that management resource can remain focused on core business and revenue producing activities.

The fast-moving foreign exchange market trades more than $6 trillion daily. Understanding why it moves is half the battle. The AFEX Monthly Currency Outlook offers insight into market dynamics and currency pairs that may affect your business. However, we recognise every business is different and may have its own internal hedging policies. Speak with one of our specialists to discuss your business requirements and what works best for you.

Global law firm Clyde & Co is pleased to announce the opening of an associated office in Nairobi, Kenya. Clyde & Co’s association with Kenyan firm Kangwana & Co complements its three existing Africa offices and further expands its “on the ground” presence in East Africa.

Operating as “Kangwana in association with Clyde & Co”, the association will see the firms work together, refer work to one another, and provide a more integrated service for existing clients in the East Africa region and globally.

The Governor of the CBN, Mr. Godwin Emefiele, has said the bank will pursue expansionary monetary policies to fight recession because the fiscal policy was already constrained. Mr. Emefiele said this was necessary to curb the rising inflation and address recession in the economy. He said this was part of the resolutions of the Monetary Policy Committee (MPC) meeting held last week.

The world’s largest law firm to combine with an elite firm in Tanzania

In 2020, Dentons has added 20 new offices

Dentons’ combination with East African Law Chambers (EALC) in Tanzania further strengthens the foundation for Dentons to become the leading Pan-African law firm owned and controlled by Africans across 14 locations on the continent.

September 22, 2020 – Dentons, the world’s largest law firm, is announcing today a proposed combination with leading Tanzanian law firm, East African Law Chambers (EALC). Prior to this announcement, in 2020, Dentons has added 20 new offices around the world in an environment where other law firms are standing still, contracting or withdrawing from key markets.

Aon plc (NYSE: AON), a leading global professional services firm providing a broad range of risk, retirement and health solutions, has published its 2020 Risk Maps report, which finds that the novel coronavirus (COVID- 19) pandemic will likely transform the geopolitical landscape. Extraordinary public health measures and a precipitous drop in global trade will continue to exert significant pressure on economies and governments and will reshape long-standing geopolitical norms.

Cape Town, 9 September 2020: The Covid-19 pandemic is paving the way for a new era of collaboration between business, government and labour as they seek solutions for South Africa’s dire economic and fiscal outlook. “Never before have we seen this much collaboration between government and the private sector; it is the first time since 1994 that a meaningful social compact is becoming a reality,” said Elias Masilela, Chairman of recently-established Impact Investing South Africa (IISA) and Chairman of DNA Economics. Collaboration was among the key themes that emerged amongst panellists during a webinar hosted by Sanlam Investments on 4 September 2020. The panel reflected on what optimal capital allocation should be in a post-pandemic South Africa.

Mediterrania Capital Partners’ portfolio company Groupe Scolaire René Descartes establishes a financial partnership with Banque Zitouna to support students’ families

Tunis. Mediterrania Capital Partners, the Private Equity firm focused on growth investments for SMEs and mid-cap companies in North and Sub-Saharan Africa, announces the signing by its portfolio company Groupe Scolaire René Descartes of an agreement with Banque Zitouna to financially support families impacted by the Covid-19 crisis.

I would like to take this opportunity to step back and take stock of all that has occurred in the last three to four months. With colleagues from across PIDG, I have been reflecting upon the huge effort that has taken place to keep originating new infrastructure projects and to continue developing those already in our varied pipelines. We have also examined the impact of our coordinated response to COVID-19 and our efforts to ensure the health and welfare of our teams, partners and of people living in the communities close to where we work.

Knight Frank has released the Africa Residential and Office Dashboards that provides occupiers, landlords, and investors with regular analysis of the rental performance and trends of prime residential and office markets across Africa.

The H1 2020 dashboards examined the residential and office market performance in 29 African cities during the COVID – 19 pandemic.

This month’s theme is the impact of the recent petroleum price developments on the sector in Africa. We’ve included an article that examines options for African Governments to engage with international oil companies and to respond to the potential long term impact triggered by the COVID crisis. We’ve also included articles from some of our preferred law firm partners in Africa and guest authors with operations in Africa.