Guinea boasts significant mineral, hydropower, and agricultural resources, as well as just under half the world’s bauxite stores, much of which remain unexploited. Thus the country’s mineral reserves remain underdeveloped in the West African region, despite the mining sector making up over 70% of exports.
Experts agree that significant outlay into in governmental, fiscal and the legal frameworks are required to make the area sufficiently attractive to investors, including through investment in infrastructure, which is currently inefficient and in need of development. The country has seen growth over recent years stemming from increases in commodity prices on world markets.
The legal framework in Guinea reflects its French colonial history, basing itself primarily on the French system. The legal structure has strengthened recently, improving business legislation, potentially a key for inward investment.
The Firm recently conducted a review of banking regulation for an international bank interested in setting up operations in the country.
The Firm has conducted a major review of the power generation sector from the viewpoint of an international independent power producer (“IPP”). This has been published in conjunction with Trinity LLP at http://www.africapowerguide.com/countries-4
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Guinea - Experience
We offer a full service in Guinea, from company incorporation; sector-specific regulatory reviews; advice on joint ventures, listings and M&A; taking and realising security; employment and employee tax (including share schemes); environmental law and practise; real estate; and tax.
We focus on three core areas: mining; banking and telecommunications. We also have expertise in shipping and IT (including e-commerce).
Major downstream asset acquisition
We are acting for a London-based group acquiring the downstream assets of a major oil distribution company. We have reviewed all aspects of the deal, including corporate, tax, environmental, real estate and sector specific advice. Our team is working closely with the client and has developed a fluent working knowledge of the sector and is able to respond to urgent detailed queries within th every short timescales dictated by the transaction.
Major Mining Investment – Japanese Mining House
We are acting for a major Japanese mining house in its ongoing investment process in Guinea. We reviewed all the laws concerning mining investment, including the investment code, the mining law, tax, employment and real estate. We have summarised these in a paper which has been presented to the board and we are waiting for the next phase.
E-Global Drilling – Guinea
We have incorporated a local subsidiary for this TSX-listed mining services provider. We are continuing to provide corporate advice and advice concerning tax structuring as their project develops.
Banking Regulation - Major International Merchant Bank
We have assisted a major US Merchant Bank in determining its in-country rules for opening bank accounts and offering financial services.
International NGO – set up and registration
We have assisted a major US-based international NGO in determining the rules and procedures for establishing in Guinea, hiring staff and opening an office. In addition we have researched the tax benefits and employment laws.
Banking Opinion – Major US Financial Institution
We were asked to provide an opinion to this major US finance house on taking and exercising security, as well as how to deal with any funds which were realised.
Mining Permit Research – Mining Major
We conducted due diligence on mining permits for this Mining Major looking to acquire mining assets in Guinea.
Aviation Regulation – Mining Major
We researched and provided an opinion on the rules for import and operation of helicopters in Guinea together with the rules and regulations for certification of foreign pilots.
Telecommunications – US equipment provider
We advised on the regulatory environment for the rollout of new product and service lines for this US-based equipment provider. We reviewed the process for licencing as well as the administrative framework within the country in general.