Africa Newsletter: OHADA laws in DRC, Kenyan land laws, Angolan Foreign Exchange regulations
12 September 2012
The latest edition looks at recent legal developments in Africa featuring articles on OHADA laws entering into force in Democratic Republic of the Congo, the new Nigerian Petroleum Act, the new Angolan Foreign Exchange regulations, the impacts of the new Kenyan land law on foreigners and the new arbitration centre in Rwanda.
- Democratic Republic of Congo: OHADA laws entering into force on 12 September 2012; this is a historical change for the DRC whose business laws are being superseded by the OHADA Uniform Acts, which have been in force in 16 other African countries for over a decade.
- Nigeria: the new Petroleum Bill which is perhaps one of the most talked about pieces of legislation in Nigeria given the far reaching reforms which it proposes to an industry which is the single most significant contributor to the national economy.
- Angola: new foreign exchange regime for the petroleum industry from 1 October 2012 onwards. Oil companies (including operators) will be required to make all payments for goods and services supplied by FX residents out of bank accounts domiciled in Angola, whether in national or foreign currency.
- Kenya: The new Kenyan land laws came into force on 2 May 2012, a key feature is that foreigners have been stripped from their freehold; we look at the impact of this.
- Somalia: Success story of how a regulatory vacuum and a strong entrepreneurial spirit paved the telecom market success in Somalia, which is the cheapest place in Africa to make international calls and the home of one of the largest money payment transfer companies.
- Rwanda: The opening of the Kigali Arbitration Centre in May 2012, which further demonstrates Rwanda's commitment to improve its legal system and attract investors.
Read the full Africa Newsletter.