Webber Wentzel has signed a Memorandum of Understanding with leading West African law firm Bile-Aka, Brizoua-Bi & Associés, based in Côte d’Ivoire.

The deal is designed to offer a more complete solution to their respective clients’ needs in the OHADA region and further develop their regional law practices. 

OHADA – the Organisation for the Harmonisation of Business Law in Africa – is an international organisation created in 1993 and currently comprising 16 member states.

Both firms have collaborated on projects and transactions in West Africa for a number of years.

Roddy McKean head of Webber Wentzel’s Africa Practice said that Webber Wentzel’s work in Africa now represents a significant and growing part of the firm’s practice. 

“Being able to draw on the recognised expertise and know-how of one of Africa’s leading law firms is a boon for us. Webber Wentzel gains access to Bile-Aka, Brizoua-Bi & Associés’ capability, knowledge and expertise under OHADA business law and its on-the-ground experience throughout West-Africa
 
“By combining our expertise with the insight of local partners, we provide our clients with a competitive advantage when operating in Africa. “

The firms will also share business and legal intelligence and set in place a secondment programme amongst other strategies to service clients.

Michel Brizoua-Bi, Head of the International Department at Bile-Aka, Brizoua-Bi & Associés commented: “Webber Wentzel has strong industry experience in key sectors in Africa.  The association of the two firms’ strengths and knowledge of African business environment reinforces our ability to provide legal advice of an international standard. 

“We have worked extensively with Webber Wentzel and have found that we share a similar vision about the need for more collaboration and integration between leading African firms”.

In a move to service better its clients in Francophone Africa, Webber Wentzel also recently appointed Steven De Backer as a director in the Africa Practice. Steven, who grew up in the Democratic Republic of Congo and was previously with Freshfields in Brussels and Mkono & Co in Burundi and Dar-es-Salaam, has brought extensive on-the-ground experience of leading transactions in Francophone Africa. 

Steven is backed by a team of French speaking and civil law qualified lawyers who are able to assist clients in relation to their transactions and operations in Francophone Africa.

Webber Wentzel is currently acting for Vale SA, the world’s largest iron-ore producer, in relation to its investment in Guinea and its implementation of the multi-billion dollar Zogota project. 

The firm is also currently advising clients on a variety of matters in Francophone countries such as the Democratic Republic of Congo, Burkina Faso, Côte d’Ivoire, Burundi and Senegal.

In a joint editorial comment, ManufacturingHub.co.za and Ferronews.com argue that the recent power hikes will, contrary to popular belief be a catalyst for industrial growth and innovation in the country.

Much has been made about the impact of the recent multi-year tariff hikes which the National Energy Regulator of South Africa (Nersa) has granted to power utility Eskom.

“Power hikes to cost 250000 jobs” and “foreign investors to be scared off by power price increases” scream news headlines on many of South Africa’s leading newspapers and financial news sites.

Without trivialising the impact of a power crisis or the additional strain on the average South African consumers wallet, these headlines and press statements are mis-leading and ill-informed.

The bizarre assumption is that humans will do nothing to change their behaviour and the country as a whole will choose not to innovate to address this challenge. To attach such lemming-like characteristics to one of the most innovative regions in the world is mind-boggling.

Humans as a species evolve and anybody who implies that they will continue behaviour which negatively hits them in the pocket needs to have their head read.

US president Barack Obama recently commented that the US had to focus on the development of nuclear technology at home to meet their power supply. He made a poignant comment saying that if the US didn’t focus on developing these technologies at home, then competitors in foreign countries would and the US would be forced to import these technologies. The end result would be no jobs for Americans in this sector of the economy and his mind that was unacceptable.

This is precisely the attitude we as South Africa need to adopt in the light of the challenges facing the country.

So where are the opportunities?

While independent power production is still not viable in South Africa, it is fast coming to a point where it does become attractive. If you can participate in a market which has guarantees of price increases of 25% per year for the next three years, it is going to start to look attractive.

Innovation around alternative energy sources is going to be given the go-ahead. Green energy, nuclear, solar etcetera is going to come into vogue.

The same could be said for the agriculture sector. We know that resource giants like Vale and BHP Billiton are piling into the fertilizer sector and ratings agency Moodys says it expects this trend to grow as alternative energy sources are sought.

Increasing demand and funding for skilled engineers, researchers and developers to come up with innovative solutions. Already companies such as Sasol and Anglo American have been investing in their own independent supply technology. Educators, lecturers and trainers will be needed to support the demand for these professionals both in educational institutions as well as within corporates.

In conclusion we know that there is a shortage of electricity on the supply side and we recognise that South African consumers and municipalities remain cash-strapped.

However the talk of economic collapse and fall-out is overstated and dangerous when in fact the opportunities far outweigh the threats posed to the country.

Marc Ashton
ManufacturingHub.co.za and Ferronews.com
Respond to this editorial contribution on newsdesk@rival.co.za

Follow Marc Ashton on Twitter – www.twitter.com/zamarcashton
Marc Ashton’s blog – http://badentrepreneur.bundublog.com/

TEAL Exploration & Mining Incorporated (“TEAL”) is pleased to announce the completion of the previously announced plan of arrangement (the “Arrangement”) involving TEAL, African Rainbow Minerals Limited (“ARM”),  Companhia Vale do Rio Doce (“Vale”) and two wholly-owned subsidiaries of ARM,  42685 Yukon Inc. and 42696 Yukon Inc.

Upon completion of the arrangement, the holders of all of the outstanding common shares of TEAL not already owned by ARM have effectively had their interest in TEAL redeemed for a cash amount of CDN$3.00 per share (which shall be paid to shareholders who are registered on the South African branch register maintained for TEAL in South African Rand as calculated using the rate of exchange announced by TEAL on the JSE Limited`s Stock Exchange News Service (“SENS”) on March 19, 2009).

Shareholders who have not already done so should follow the instructions set out under the heading “Mechanics of Arrangement and Pre-Arrangement Transactions – Payment to TEAL Shareholders and Holders of TEAL SARS” in TEAL`s management proxy circular dated January 19, 2009 to receive payment of the consideration to which they are entitled.

As a result of the Arrangement, ARM and Vale each now hold a 50% indirect interest in TEAL Minerals (Barbados) Incorporated (“TEAL Minerals”), which was previously a wholly-owned subsidiary of TEAL. TEAL Minerals holds directly or indirectly substantially all of TEAL`s former assets and liabilities and ARM and Vale will operate and develop such assets as a 50:50 joint venture.

The common shares of TEAL will be de-listed from the Toronto Stock Exchange effective on or about March 26, 2009, and TEAL will also apply to terminate its reporting issuer status in Canada. Trading in the common shares of TEAL has been suspended on the JSE Limited effective as of the commencement of      
trading on March 24, 2009, and the de-listing from the JSE Limited will be effective at the commencement of trading on April 3, 2009.