Understanding Necessary Regulatory and Legal Frame
12 PM EDT
- This is a non-CLE program
- The timing for this program is listed in US Eastern Daylight Time
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The Africa Committee is pleased to present the first teleconference in its Doing Business in Africa Teleconference Series. It is no secret that African nations have something the industrialized world badly wants—mineral and petroleum assets that drive a nation’s economic growth. Five countries (Nigeria, Libya, Egypt, Algeria, and Angola) are traditionally associated with the continent’s petroleum sector, supplying an estimated 12% of the world’s total oil supply. In the very near future, however, East Africa (Uganda, Tanzania and Kenya) is expected to emerge as the new super supplier of oil and gas. For the vast majority of the continent, the oil and gas sector is booming. Similarly, mineral extraction, to countries like China, Brazil and India, is expected to increase in 2014 as the global economy improves. African governments understand that a stable and sustainable mining and oil industry necessitates democratic processes, policies, and procedures. Increasingly, there is opportunity to design regulatory and legal frameworks that meaningfully address the needs of all stakeholders involved in the mineral and petroleum sectors—from the local communities and workers to multinational corporations and foreign governments.