vLex South Africa

Warren Buffett once said, “It takes 20 years to build a reputation and five minutes to ruin it.” Rarely can the ‘sage of Omaha’ be disputed, but on his point around timing, five minutes is a very long time in today’s real-time world when you’re dealing with a cyber-attack. Please see full Publication below for more information. (See Article)

An increasingly common feature of the global mergers and acquisitions markets has been the use of warranty and indemnity insurance (“W&I Insurance”), also referred to as reps and warranties insurance. The use of W&I Insurance has been one of the more significant developments in M&A transactions in recent years. Although used on some South African transactions, W&I Insurance is not as commonly used as it is in the European and North American markets. (See Article)

It is fair to say that although the South African mining industry represents 8% of our GDP, and employs approximately 450 000 people, by 2019 figures, it is SA's sweetheart industry. The mining industry was one of the first industries to be permitted to resume activities during the lockdown (and in some instances did not even fully shut down at all). Please see full Publication below for more information. (See Article)

With numerous sectors experiencing financial distress and companies and individuals facing the increased likelihood of insolvency as a result of the economic disruption caused by Covid-19, forensic practitioners will play a key role in supporting South Africa’s economic recovery. Please see full Publication below for more information. (See Article)

Lack of cybersecurity preparedness continues to create problems and risks for companies in South Africa. Lack of cybersecurity preparedness continues to create problems and risks for companies in South Africa. The 2020 FTI Consulting Resilience Barometer, which polled more than 2,000 respondents from large companies across all G20 countries, reported that companies in the region are suffering cyber attacks and falling victim to ransomware more than global averages (33% vs. 27% for overall attacks). While most leaders in the region are aware of the risks - 84% surveyed believe they have cybersecurity gaps - less than half said they have made investments in that part of their business in the last 12 months. This disparity between known risk and response is concerning even during the best of times. Please see full Publication below for more information. (See Article)

Tobias Faber and Camilla Fröhlich from the Frankfurt office virtually interviewed Pete Frielinghaus, a resilience specialist and fellow of the Business Continuity Institute, on Business Continuity Management (BCM) in Africa and the implications of COVID-19 on BCM. Please see full Publication below for more information. (See Article)

With more than 3 million cases worldwide, COVID-19 has not spared any continent. As of 14 May 2020, almost 50,000 cases of COVID-19 had been recorded across 52 countries in Africa, with over 2,000 deaths. (See Article)

South Africa-specific information concerning the key legal and commercial issues when entering a memorandum of understanding in anticipation of a future commercial transaction. This Q&A provides country-specific commentary on Standard document, Memorandum of understanding (commercial): Cross-border. (See Article)

Survey - The widespread disruption caused by the Coronavirus pandemic has led to ‘business unusual’ for many companies in South Africa as they respond to new challenges in an unpredictable and rapidly changing operating environment. Please see full Publication below for more information. (See Article)

On Friday, 8 May 2020, the Labour Court upheld an urgent application by the National Union of Metalworkers of South Africa (NUMSA) and the SA Cabin Crew Association (the Unions) against South African Airways (SAA) and its business rescue practitioners.... (See Article)

On 21 April 2020, the President of South Africa addressed the nation yet again to inform South Africans of additional economic and social relief measures to be put in place as a result of the novel coronavirus (“COVID-19”) pandemic... (See Article)

On 1 May 2020, the Labour Court handed down a highly anticipated order in the application instituted by the Association of Mineworkers and Construction Union (AMCU) against the Minister of Mineral Resources and Energy (Minister) and the Chief Inspector of Mining (CIM), amongst others. Please see full Publication below for more information. (See Article)

Pursuant to the Regulations published in terms of section 27(2) of the Disaster Management Act 57 of 2002 (Regulations) and the subsequent amendments thereto, the Information Regulator, established in terms of The Protection of Personal Information Act 4 of 2013 (POPI Act) has issued a Guidance Note on the processing of personal information of data subjects in the management and containment of COVID-19. (Guidance Note). Please see full Publication below for more information. (See Article)

New regulations were published by the Department of Cooperative Governance and Traditional affairs on 29 April 2020 (the “Regulations”, gazette no. 43258) outlining the rules applicable during Alert Level 4 and the Department of Employment and Labour (the “DEL”) provided a briefing to media, addressing expectations on employers to ensure employees’ safety and mitigate the spread of the virus in the workplace. (See Article)

On 29 April 2020, regulations were issued in terms of the Disaster Management Act 57 of 2002 that regulate how the country will operate under an Alert Level 4 (Regulations). The Alert Level 4 will be applicable from 1 May 2020 until a new alert level is announced by the government. Please see full Publication below for more information. (See Article)

Who makes the best chocolate in the world, the Swiss or the Belgians? Either way, neither of these countries owns vast tracts of cocoa plantations. They import the raw materials to make the chocolate. Yet we would all agree that the greatest economic value is unlocked when cocoa beans become chocolate. It is sad to say that resource-based economies are not the wealthy ones. Please see full Publication below for more information. (See Article)

The coronavirus disease (COVID-19) has arrived in Africa and it will need an African response if it is to be successfully managed. In early March there were few reported cases on the continent. (See Article)

In these unprecedented times with almost half the planet on some form of lockdown, businesses across the globe are looking for practical solutions to complete transactions. Please see full Publication below for more information. (See Article)

What makes responding to COVID-19 so difficult is that the “correct” response from a medical, clinical perspective and the “correct” response from an economic perspective require different, even opposite, approaches. From a clinical perspective, we need to do everything that we can to stop transmission of the virus. In practice, this means confining people to their homes and putting the country under lockdown. Effectively, this means shutting down economic activity outside of essential services. From an economic perspective, and from a South African economic perspective, we want to ensure that economic activity keeps ticking over and even growing at a time when the economy is already on its knees. Please see full Publication below for more information. (See Article)

The threat of proliferation financing is an ever increasing and a concerning threat. The reality is that not all banks (and countries for that matter) understand what proliferation finance is, what it looks like, how to identify it and what measures to put in place to mitigate this risk. Please see full Publication below for more information. (See Article)

The Minister of Mineral Resources and Energy, Mr Gwede Mantashe, has issued Directions in terms of the Disaster Management Act in order to provide additional guidance to the mining industry during the national state of disaster, which was declared in relation to the COVID-19 pandemic. The latest Directions were issued on 11 April 2020 and will be in effect until the end of the nationwide lockdown. Please see full publication below for more information. (See Article)

On 16 April 2020, amendments were issued to the regulations published under the Disaster Management Act, 2002, in response to the COVID-19 pandemic, which will significantly impact the mining industry during the nationwide lockdown. Please see full below for more information. (See Article)

As the COVID-19 pandemic has gripped countries globally, and there has been widespread reports of opportunists taking advantage of the panic buying to hike prices dramatically. A number of regulatory authorities have taken swift action to protect consumers. Please see full Publication below for more information. (See Article)

With the current Covid-19 lockdowns restricting the mobility of signatories on a global scale, virtual and e-signings are hot topics. (See Article)

Since President Cyril Ramaphosa declared a National State of Disaster on 15 March 2020, various government Ministers have issued regulations to deal with the emergency. (See Article)

The Department of Trade and Industry (DTI) moved rapidly last week to join the fight against COVID-19, by publishing Block Exemption Regulations for the Healthcare sector, in the Government Gazette on 19 March 2020. This comes only days after the National State of Disaster was declared on 15 March 2020. Please see full Publication below for more information. (See Article)

On 18 March 2020, the Department of Cooperative Governance and Traditional Affairs (COGTA) introduced a set of new regulations (“Regulations”) under the Disaster Management Act No. 57 of 2002. The Regulations gives government the power to act against those who deliberately endanger themselves and others during the COVID-19 epidemic. What is particularly significant to note is that... (See Article)

As the global economy continues to deal with the fallout from COVID-19, it is accepted that the pandemic is likely to cause significant disruption to ongoing commercial activities. As we all face the uncertainty of exactly what the economic consequences of COVID-19 will be, it is advisable to review your commercial agreements and assess what your rights are and where your risks may lie. We set out below some of the key legal clauses to keep an eye out for. (See Article)

South African President, Cyril Ramaphosa declared a National State of Disaster on 15 March 2020 in a proactive attempt to curb the spread of COVID-19. (See Article)

Acting swiftly to try to contain the spread of Covid-19 in South Africa, on 15 March 2020 President Cyril Ramaphosa declared a National State of Disaster. Now the government has gone further - on 19 March 2020 regulations issued by the Minister of Trade and Industry (the "Regulations") were published in the Government Gazette granting certain block exemptions to the healthcare sector in an effort to combat spread of the COVID-19 virus. (See Article)