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DLA Piper Africa has showcased its pan-African strength at the African Legal Awards 2024 by securing several prestigious awards, including the highly coveted African Network/Alliance of the Year award and three out of four regional awards.
On 9 February 2024 the Government of Zimbabwe promulgated Statutory Instrument 15 of 2024, which exempts the supply of certain goods and services and the importation of certain goods from the payment of Value Added Tax (VAT). This Statutory Instrument amended the Value Added Tax (General) Regulations, 2003 (Statutory Instrument 273 of 2003).
The recent introduction of the Securities and Exchange (Licensing of Minerals Commodities Trading Participants on the Victoria Falls Stock Exchange) Rules, 2024 and the Securities and Exchange (Victoria Falls Stock Exchange Mineral Commodities) Rules, 2024 marks a pivotal moment not only for Zimbabwe but for the entire Sub-Saharan African region. These regulations have laid the groundwork for the trading of minerals and commodities on the Victoria Falls Stock Exchange (VFX), which is traded in United States Dollars, opening up a new frontier for entrepreneurs, investors, and the broader economy.
DLA Piper Africa is proud to announce its partnership with 2024 Olympic Gold medallist and African sprint sensation, Letsile Tebogo.
Introduction When US President Joe Biden, announced the ending of the Zimbabwe sanctions program, a wave of euphoria quickly spread across the country. The lifting of sanctions provided renewable energy investors with access to the previously closed international capital markets. Many projects were struggling to reach financial close as funders were unwilling to risk inadvertently violating US sanctions by financing Zimbabwean projects. While sanctions opened up international markets, Basel III Endgame could spoil the party for the over 100 Independent Power Producers (“IPP”), who are licensed to generate electricity in the country but are failing to obtain financing.