In 1998, China announced its “go out” or “go global” policy aimed at encouraging its enterprises to invest overseas. In 2013 this policy was reinforced with China’s introduction of its One Belt, One Road (OBOR) or “Belt & Road” initiative, which seeks to enhance development and trade routes in the region, connecting China with other…

Covington’s Africa Practice Hosts African Leadership Academy

On October 3, 2018, Covington and Burling hosted the African Leadership Academy (ALA) for a celebration of its impressive ten-year existence. Located in Johannesburg, ALA offers a two-year diploma program to some of the most promising students from across the continent. To date, ALA has provided 983 students…

Over the last several decades, Foreign Direct Investment (FDI) by multinational companies has become a critical engine of economic growth in Africa, with FDI in the extractive industries particularly significant. A common response by local governments in Africa to increased FDI is “local content” requirements, which are designed to ensure the participation of the local…

We reported following the 2017 UN Forum on Business and Human Rights on the progress of an international treaty on the subject. On 19th July 2018, the Open-ended Intergovernmental Working Group (OEIGWG) presented the draft text of a treaty to the High Commissioner for Human Rights (through the Permanent Mission of Ecuador, acting as Chair…

Witney Schneidman, Chair of Covington’s Africa Practice, recently participated in a number of media interviews where he discussed various business trends on the continent. Below are links to those interviews.

•  An interview with CGTN that compared the commercial approaches of China and the United States in Africa. LINK
• CNBC-Africa’s Closing Bell had Witney

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On June 3, 2018, French tycoon Vincent Bolloré warned investors that Groupe Bolloré—a logistics provider with extensive operations in former French colonies in Africa—may suffer negative commercial and financial consequences as a result of a corruption investigation initiated by French authorities. Mr. Bolloré was questioned for two days by French police in April 2018 over…

There are ample studies that quantify Africa’s infrastructure deficit in terms of projects and funding. The World Bank estimates $93 billion of annual upkeep investment is needed for projects and Ernst and Young estimates that there are some 800 projects, largely in the power and transportation sectors, that require approximately $700 billion in new investments.…