What Do You Know About South Africa’s New International Arbitration Act (2017)?

What do you know about the South African International Arbitration Act No. 15 of 2017? The Act which sailed through the National Council of Provinces in November 2017 and was assented to by the President on December 19th commenced December 20th. The Act regulates international arbitration proceedings and the enforcement of foreign arbitral awards and…

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Hail to (King) George Weah, Liberia’s New President, Facing Very Old “Wicked Problems”

For the first time since 1944, Liberia will have a democratic transfer of power as former soccer star George Weah is sworn in as the country’s new president today (Jan. 22). Weah won the presidency after run-off elections last December with 61.5% of votes. He takes over from Ellen Johnson Sirleaf, Africa’s first elected female president, who…

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Nigeria’s Primewaterview Holdings Acquired by Milost Global

American private equity firm Milost Global Inc. has announced that, together with its African subsidiary, Isilo Capital Partners it has closed the acquisition of a 100 percent interest in Primewaterview Holdings Nigeria Limited a large scale, diversified holding company with a portfolio of Real Estate, Oil & Gas, Quarry Mining, Healthcare and Power for a…

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Central Bank of Somalia and Somali Financial Institutions Are Modernizing Banking Sector

  The Central Bank of Somalia (CBS) and Somali Financial Institutions (SFIs) are taking crucial steps to modernize national payments systems. Supported by the World Bank, the CBS and private financial institutions are streamlining their efforts to strengthen the inter-bank payment, clearing and settlement systems in Somalia. This development follows a five-day consultative forum held…

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Prosperity in Rising in Africa, Driven by the Region’s Growing Middle Class

Sub-Saharan Africa’s rising population and economies have led to a growing middle class and, in turn, more spending power which provides “a vast source of potential for prosperity,” per experts at the African Development Bank. The big picture: Since 2000, the wealth of sub-Saharan African nations has been growing much faster than the global average and than…

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Understanding the Threats Facing the World’s Oil Kings

 Middle East producers who for decades reigned as the undisputed leaders of oil sales to Asia are sensing a threat to their dominance, which is goading them to review age-old habits. Before the U.S. shale boom and the biggest price crash in a generation, buyers eager to feed their galloping economies had little choice but…

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$500 Million Belonging to World Airlines Trapped in Angola

Angola still owes more than $500 million to international airlines including Emirates, Deutsche Lufthansa AG and Air France-KLM, one of many items in the in-tray of new President Joao Lourenco as he tries to revive the economy. Africa’s second-biggest oil producer is withholding repatriation of the funds amid a persistent shortage of foreign-currency reserves, according to the International…

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