As we head for the end of 2010, we are pleased to say that activity in the various emerging markets we focus on, particularly in sub-Saharan Africa, has increased noticeably. The continued interest in renewable energy has fuelled much of this.
Ghana seems to be flavour of the month at Trinity headquarters. As well as being involved in a major IPP that is nearing financial close, we are also involved in a 300+ MW IPP in Ghana that is at a crucial stage of development. As a sign of Ghana’s growing confidence, we are also acting for the developers on the Accra — Kumasi toll road. Elsewhere in Africa, the development of several renewable projects in East Africa continue to keep us busy in that region and we expect Southern Africa to be equally busy with hydro power projects in Zambia and, by year end we hope, the launch of the first round of the REFIT programme in South Africa.
We must take this opportunity to thank our clients who gave positive feedback to Legal 500 as we have been rated for the first time this year (adding to our rating in Chambers & Partners). We feature in “Projects, energy and natural resources” within both “Infrastructure” and “Power” as well as in “Finance: emerging markets” (www.legal500.com/firms/670-trinity-international-llp).
The entries highlight that Trinity “holds its own against the bigger names by virtue of its niche experience”. We are very pleased that our clients and the industry have given us this recognition.
This edition of Focus has an article written by our latest recruit, Tamila Nakazwe and looks at two recent papers that highlighted Africa’s economic emergence on the world stage. Companies like Dangote Group, Maroc Telecom and Shoprite have shown huge homegrown success that have catapulted them into the global marketplace. Very few articles in the mainstream press highlight these enormously positive aspects of the African economy. Home to some of Trinity’s key markets, we are keen to ensure that positive development stories from the African continent are published and some myths dispelled.
Associate Guy Jolly gives us an update on the use of “endeavours” clauses in commercial agreements. Anyone who has come across these will know that there is often disagreement about what the difference is between “best endeavours'”, “reasonably endeavours” and “all reasonable endeavours'”. Recent case law sheds a little more light on this, as set out in our easy-to-read guide Legalease.
We hope you enjoy reading this edition of Focus. As ever, if you have any questions or comments, please do not hesitate to contact one of the Trinity team.