Revised legislation in sub-Saharan Africa that is set to
transform private equity investment in the area will become
effective next week.
The Uniform Act on Commercial Companies and Economic
Interests (R-UAC) is due to come into force throughout the 17
countries that form the Organisation for Harmonisation of
Business Law in Africa (Ohada) region on May 5.
The changes come as
interest from international investors in Africa is surging to
new highs. According to the World Bank, global gross
domestic product in Sub-Saharan Africa soared to $1.29 trillion
in 2012. The International Monetary Fund forecasts that the
continent’s growth rate will reach six
per cent in 2014.
"This latest change in the Ohada act is going to mean there
are more flexible vehicles for this fresh money which is
earmarked to find...