Public Private Partnerships (“PPPs”) have been hailed as the antidote for the perennial insufficiency of public funds to finance infrastructure projects.
The African continent, with a population exceeding one billion people and an estimated combined economy of USD1.5 trillion, presents huge opportunities for investors, developers and operators across the renewable energy sector.
Access to financial services is a widely acknowledged tool for promoting credit creation and enhancing capital accumulation, and thereby increasing the levels of investment and economic activity. Fintech offers a transformational solution for Africa’s banking sector.
The Government, through the Cabinet Secretary for the National Treasury and Planning published Legal Notice Number 88 of 2019 dated 13th June, 2019 which amended the Retirement Benefits (Occupational Retirement Benefits Schemes) Regulations, 2000 (the “Regulations”). Regulation 19 (5) (a) (ii) was amended to read as follows: “the scheme rules shall provide that: where a member leaves employment after vesting of his benefits but before attaining the specified early retirement age, he may opt for payment of his own contribution where he is a member of a defined contribution scheme.
On Friday 8th November, 2019, the President signed into law the Data Protection Act, 2019.
Africa’s economic outlook is on the up, with the African Development Bank in its 2019 African Economic Outlook report forecasting sustained rise in the average GDP (gross domestic profit) growth rate for the continent - from an estimated 3.5% in 2018 to 4% this year and 4.1% in 2020.
About 22 African countries have proven gas reserves, but can they play a role in meeting sub-Saharan Africa's demand for power?
With AfCFTA aiming to boost intra-African trade by 52% by 2020, it could impact intra-African energy investments and projects, helping to curb power demand.