Centurion Law Group Navigates Legal, Regulatory and Tax Frameworks at African Energy Week (AEW) 2023

A Technical Track hosted by pan-African legal and business advisory group, Centurion Law Group, held during the 2023 edition of African Energy Week (AEW) (www.AECWeek.com) – taking place in Cape Town from 16-20 October – explored the legal, regulatory, and tax frameworks throughout Africa. The technical track kicked off with opening remarks by Centurion Law […]

A Technical Track hosted by pan-African legal and business advisory group, Centurion Law Group, held during the 2023 edition of African Energy Week (AEW) (www.AECWeek.com) – taking place in Cape Town from 16-20 October – explored the legal, regulatory, and tax frameworks throughout Africa.

The technical track kicked off with opening remarks by Centurion Law Group Managing Director and Partner, Zion Adeoye, who moderated the session and spoke on Africa’s position as one of the world’s most attractive destinations for investment and how legal and regulatory frameworks are being put in place to advance local content development in the continent’s energy sector.

“Africa remains one of the most attractive destinations for investment,” Adeoye stated, adding, “It is very clear that for the next two to three decades, oil and gas development will be very active. In Africa, local content manifests in several ways – shareholding in the company and utilizing local manpower. In the extractives industry, investors always have the problem of balancing the best hands to work on their projects and adhering to local content laws in terms of getting the right content barriers across the industry.”

Following the presentation, a panel featuring the participation of international legal representatives from Mauritius, South Africa, Equatorial Guinea, Guinea, Russia, South Sudan, Ghana, and Nigeria explored the regulatory and legal frameworks throughout the continent and abroad.

“In Mauritius, we allow investors to engage in transactions more easily in Africa,” stated Keseena Chengadu, Head of Investment at Centurion Law Group, adding, “It’s good to use us as a hub when internationals want to invest in Africa. We offer assistance to internationals with engaging in transactions, which can be very challenging.”

“South Africa is comparatively significantly industrialized, and it results in a few advantages for potential investors,” stated Gari Matarirano, Energy and Infrastructure Attorney at Centurion Law Group, when speaking on the southern African country, adding, “First off, the reliability of professional service firms, the tax system, is quite sophisticated with a strong source of funding through the financial system.”

“In Ghana, we have a robust regulatory framework,” stated Yorm Ama Abledu, Senior International Attorney at Centurion Law Group, adding, “As lawyers, we are able to guide clients and allow them to speak with the right authorities to deal with so that they are compliant with the law.”

The speakers spoke on local content development laws in Africa, highlighting the benefits and challenges related to investing in the continent while adhering to specific laws that could require as much as between 25% and 40% local participation.

Read full article on: https://african.business/2023/10/apo-newsfeed/centurion-law-group-navigates-legal-regulatory-and-tax-frameworks-at-african-energy-week-aew-2023