Angola is projected to emerge from recession with real GDP growth of 1.2% in 2019 and 3.2% in 2020. The recovery will be driven mainly by the production and export of diamonds (growing by 8.2%), agriculture (5%), and construction (2.1%). Changing to a floating exchange regime in 2019 could eventually eliminate the gap between the official and parallel market exchange rates. A 14% value added tax to be introduced in July 2019 will also mobilise domestic resources.
- Jay Govender, Partner, Emma Dempster and Nihaal Maharaj represented Southern African Power Pool (SAPP), the electrical energy co-operation in Southern Africa, under the auspices of the Southern African Development Community (SADC). The members of SAPP have created a common power grid between their countries and a common market for electricity in the SADC region. Our projects & energy team has been appointed, through a competitive bidding process, as lead legal advisor for the ANNA Transmission Interconnector project, which is expected to link the Namibian and Angolan electricity networks in the north western part of Namibia and the southern part of Angola. This mandate includes feasibility studies; the design of a procurement programme; as well as drafting the Engineer, Procure and Construction (EPC) contract.
- Francis Newham assisted Sturrock Shipping (Pty) Ltd to establish a subsidiary for its shipping and ship's agency businesses in Sudan, Angola and Ghana.
- Aadil Patel acted for SAP regarding the application of several HR and employee policies in use in South Africa, Angola, Nigeria, Kenya, and Morocco.
- Aadil Patel advised Coca-Cola on 'localising' their HR policies and employment contracts in Zambia, Zimbabwe and Angola.