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thinkinglegal · 1 month ago

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Variable Capital Company India: A Beginner’s Guide

The government will enable pooled private equity fund structures as variable capital companies (VCCs) — a structure more popular in financial hubs such as Singapore and Mauritius — in a bid to attract overseas investors. In this evolving financial market of India, business lawyers believe that the adoption of the VCC framework has helped Singapore become the hub for international fund management, and a similar move for India will be beneficial.

In a recent article by Thinking Legal titled “Variable Capital Company: Basic Structure and Its Evolving Framework In India,” Vaneesa Agrawal highlighted a significant development in the Indian investment landscape that is capturing the attention of business lawyers nationwide. The ability of VCCs to issue and redeem shares without extensive regulatory filings or shareholder approvals sets them apart from traditional corporate structures, necessitating a fresh approach to legal advisory services in the realm of investment funds.

This guide, from a business lawyer’s perspective, aims to provide a comprehensive understanding of VCCs, their structure, advantages, regulatory considerations, and potential challenges in the Indian context.

Understanding VCCs: Legal Implications and Structures

Business lawyers understand that a Variable Capital Company (VCC) is essentially a business structure created to enable pooled investments and offer owners limited liability. The key distinction between the VCC and conventional corporate structures is the latter’s inability to issue and redeem shares without requiring onerous shareholder approvals or regulatory filings.

Business lawyers emphasise the significance of elucidating the notion of an umbrella structure, which can have several sub-funds, to their clients when providing VCC structure advice. As Vannesa Agrawal, in her Thinking Legal article points out, each sub-fund may have unique investing goals and tactics, enabling customised methods to satisfy a range of investor demands. This flexibility is the key reason why VCCs are gaining traction in the financial markets of Singapore and Mauritius, and now according to the business lawyers, India is following suit.

Legal Considerations in Setting Up VCCs

Business lawyers will be essential in helping clients through the establishment process as India adopts the VCC framework. To provide comprehensive counsel, seasoned business lawyers need to be well-versed in both models.

“ VCCs can be established in India as Limited Liability Partnerships (LLPs) or as companies.”

- Vaneesa Agrawal, Thinking Legal

The two main setups that business lawyers typically talk about are:

Umbrella VCC

Business lawyers clarify that the umbrella VCC structure permits the establishment of many sub-funds that have the flexibility to invest in diverse asset classes or strategies while upholding the legal separation of assets and liabilities.

Standalone VCC

According to Vaneesa Agrawal, an expert business lawyer, this is a more straightforward organisation that handles its investments directly without the intricacy of several sub-funds.

Legal Challenges and Opportunities in VCC Regulations

Business lawyers feel that understanding the constantly changing regulatory landscape is one of the most important parts of working with VCCs. Vaneesa Agrawal highlights that, according to Indian legislation, VCCs are categorised as Alternative Investment Funds (AIFs), necessitating an AIF licence from the Securities and Exchange Board of India (SEBI). It is imperative for business lawyers to remain up to date with the latest debates regarding the ways in which this new structure will interact with current laws, like the LLP Act of 2008 and the Companies Act of 2013.

Key regulatory considerations that business lawyers focus on include:

Taxation: Business lawyers provide guidance on the tax ramifications of VCCs, including how to best take advantage of India’s tax treaties by acquiring tax residency certificates and treating each sub-fund separately for tax purposes.

Compliance: By stressing the regulatory segregation of risks between sub-funds, business lawyers make sure their clients are aware of and abide by the streamlined compliance standards for VCCs.

Management Structure: Business lawyers point out that VCC structures, as opposed to typical AIFs, permit different managers across sub-funds without necessitating new registrations. Business lawyers think about how this flexibility may affect governance and fund management.

Advantages and Challenges: Legal Guidance in the VCC Ecosystem

It is therefore important that business lawyers equipped with the knowledge to help the client brace up for the forthcoming hurdles in the process, these include:

Regulatory Ambiguities: Given that this is a new structure within the financial space of India, a lot of things about the VCC law and regulations, for instance, are not clear. Business lawyers will have to keep their eyes open and advise their clients on how to deal with the grey areas of the law.

Client Education: Business lawyers appreciate that there may be some hesitation amongst local investors who are not conversant with VCCs. This is where the business lawyer assists in creating confidence through information on the advantages and disadvantages of this investment option.

External Factors: Competition especially from countries like Singapore and the UAE which already have a working VCC structure means Indian business lawyers have to assist their clients’ VCCs in attaining a competitive edge.

In Conclusion

In the context of business law and financial regulation of the country, the introduction of Variable Capital Companies in India is a landmark event. With the VCC market booming, the intervention of business lawyers will be critical for the success of this novel investment vehicle in the country.

And, as Vaneesa Agrawal, founder of Thinking Legal highlights, “The VCC business structure has been a welcome evolution in the way funds can be structured and managed.”

It is well-known that both limited liability and unlimited groups of members can exist and operate in the form of a company. Moreover, it is a legal lung that is extremely flexible from an investment perspective and in many instances, can accommodate highly tailored requirements that commercial law has failed to capture thus far. VCC-like structures have been around for some time in the Private Equity investment sector as they address some of the rigidities associated with conventional means of pooling capital for investment into several operating companies and providing them with growth capital.

#business lawyer

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24business-news · 2 years ago

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Pawan Hans Sale: Cayman Islands company in winning bid allegedly fronted for notorious businessman from Zimbabwe

On 16 May, these reporters published in The Wire and NewsClick an article investigating the antecedents of a consortium of three companies that came together to set up Star9 Mobility Solutions Private Limited, which was announced as the winner of the auction to acquire Pawan Hans Limited, the public-sector helicopter service provider. The article pointed out that little information was available in the public domain about the Cayman Islands registered Almas Global Opportunity Fund (AGOF), the largest stakeholder in Star9 Mobility.

Described as Zimbabwe’s “Queen Bee,” Tagwirei is an adviser to Zimbabwean President Emmerson Mnangagwa and is said to be close to the ruling ZANU-PF (Zimbabwe African National Union-Patriotic Front). In a report in the Daily Maverick, a South African newspaper, former Zimbabwean Finance Minister Tendai Bitihas described Tagwirei as a person who controls that country’s food industry, 60% of its gold mines, two of its largest banks, and its sole gold refinery. Announcing the imposition of sanctions on Tagwirei in August 2020, the then US Secretary of State Mike Pompeo described him as a “notoriously corrupt businessman” who had assisted “senior Zimbabwean government officials involved in public corruption.”

How Almas Global acted for Tagwirei

From 2019 onwards, Sotic International Ltd, a Mauritius-registered trading company, went on a “mine-buying spree” in Zimbabwe, reported the Financial Times. Sotic was Tagwirei’s holding company where his accumulated wealth was allegedly hidden. In July 2021, The Sentry, a US-based anti-corruption not-for-profit organisation, released a report on Tagwirei’s alleged illegal activities (including money laundering), in which AGOF’s role has been elaborated on. According to The Sentry and various reports published by Bloomberg and the Financial Times in 2021, AGOF holds the majority stake in Sotic on behalf of Tagwirei.

The Sentry reported that Capital Horizons, a Mauritius based financial advisory firm with Magalingam Reddy and Shaan Kundomal at its helm, advised and helped Tagwirei create a complicated corporate structure to avoid scrutiny by banks and regulators. On the advice of Shaan, in October 2019, Sotic issued 9,000 convertible debentures to AGOF. Capital Horizons then arranged a subscription agreement and an assignment deed between Tagwirei and AGOF, which then sent $8.4 million to Sotic to acquire a 65 per cent stake in the company.

The chart above has been extracted from the report by The Sentry. It describes AGOF’s links with Sotic International.

AGOF’s representative refused to comment on the transaction to Bloomberg and stated: “As per the legal obligations which the fund has to abide, it cannot comment on any of its relationships in any manner whatsoever. We can confirm that the fund is committed to being responsible in all its legal and compliance obligations as a financial entity and adheres to all local and international laws.”

Interestingly, this is the same stand that AGOF took in the National Company Law Tribunal while refusing to disclose its source of funds and its subscribers or actual beneficiaries, which was elaborated on in our earlier article. In a subsequent email response to Bloomberg, AGOF said it has investors from the Persian Gulf, Latin America and India but refused to disclose their identities citing legal restrictions.

Amardeep Sharma, the managing director of AGOF, responded to the Financial Times, stating: “There is no relationship between the subscriber and the investee company in fund investments, and the fund cannot assign assets to individuals. To the best of my knowledge, does not control Sotic.”

AGOF supported Tagwirei even after US sanctions

On 5 August 2020, the US government sanctioned Tagwirei for utilising “his relationships with high-level Zimbabwean officials to gain state contracts and receive favoured access to hard currency, including US dollars.” In turn, Tagwirei allegedly “provided expensive cars to senior government officials.” An audit report prompted a parliamentary inquiry in 2019, which revealed that the Zimbabwean government had failed to account for about $3 billion disbursed under agriculture programmes championed by President Mnangagwa and largely financed by Sakunda Holdings. Soon after the US sanctions, the government of the United Kingdom also imposed sanctions on Tagwirei.

After sanctions were imposed by the US government, Tagwirei and the Zimbabwe government made various moves. The Sentry has disclosed a letter sent by Sotic in August 2020 to the directors of AGOF and another entity called Pfimbi Limited (that holds Sotic’s 35% of shares) to consider a proposal to set up a Zimbabwe-based subsidiary that would hold Sotic’s mining assets. The letter added that this was on account of the “negative press” received and because of the “increased international scrutiny” on Sotic.

In December 2020, the Zimbabwean government announced the formation of a public-private partnership company, Kuvimba Mining House Limited, that would hold some of Zimbabwe’s most valuable gold, platinum, chrome and nickel mines. The revenue generated by this firm was to be used to revive the country’s moribund economy and create a “safer platform” that would avoid the effects of the US sanctions.

Shareholding Pattern of Ziva Resources, Published by the Sentry

The Zimbabwean government-owned Herald quoted the country’s Finance Minister saying that the government holds 65% of Kuvimba through various government funds and other entities, while 35% is with Ziwa Investments, the Zimbabwean subsidiary of a Mauritius-registered company named Quorus. The government in Harare vehemently denied that Tagwirei had any involvement with Kuvimba.

The Sentry report noted that, surprisingly, the name of Kuvimba did not appear in the company registry of the government of Zimbabwe. Ziwa Investments, too, did not appear in the company records of the Mauritius government. However, an entity named Ziwa Resources did appear in the Mauritius government’s records. Interestingly, 65% of Ziwa Resources was owned by Almas Global Opportunity Fund, and the rest was in the hands of the Zimbabwe-registered Pfimbi Resources, whose directors were Tagwirei and his wife. It also turned out that Quorus and Ziwa Resources had the same directors, and they were closely associated with Tagwirei.

Infographic published in The Sentry’s report explains AGOF’s connection with the US sanctioned businessman in 2021.

In October 2021, the Financial Times quoted AGOF’s representative saying that Tagwirei doesn’t own shares in the fund anymore and that Almas was trying to get out of its investments in Zimbabwe. In a detailed recorded interview to this reporters on 27 May, Amardeep Sharma said that AGOF is still trying to exit its investments in Zimbabwe.

How much did the Indian government know?

On 16 May, the day we published our investigation into the antecedents of the buyers of Pawan Hans, various publications and websites reported that the privatisation of Pawan Hans had been “put on hold” by the Indian government. The reports added that the Department of Investment and Public Asset Management (DIPAM) in the Ministry of Finance was conducting a legal examination of an adverse order against AGOF by the NCLT (National Company Law Tribunal) that our previous report covered in detail and that the “letter of award” to the winning bidder, Star9 Mobility, would be issued only after the examination was concluded.

On 18 May, it was reported that AGOF would challenge the NCLT order in the National Company Law Appellate Tribunal (NCLAT), saying that the NCLT order was “abrupt and a bit premature.” The Economic Times quoted the fund’s spokesperson as saying, “AGOF is a fund with a pristine reputation.”

Almas Global’s reputation, however, may not be as pristine as it claims

This is not the first time a disinvestment exercise of the Government of India has come under scrutiny after completion of the process because of allegations against the reputation of the winning bidder. In January this year, the government had pulled the brakes on the privatisation of Central Electronics Limited (CEL) after its employees’ union moved court against the sale of the company to a little-known firm.

Did the government violate its own norms?

There are two government documents that suggest that allowing the sale of Pawan Hans to Star9 Mobility would constitute a violation of government rules.

The first is in an Office Memorandum issued by the Government’s Ministry of Disinvestment in 2001 (the ministry was shut down and merged into the Finance Ministry in 2004 as an independent department, which is now named the Department of Investments and Public Asset Management or DIPAM). The memorandum, which is included as a part of a DIPAM document titled “Guidelines for Qualifications of Bidders” applies generally to all disinvestments of government owned enterprises.

The memorandum (No. 6/4/2001-DD-II dated 13 July 2001) states that “any conviction by a Court of Law or indictment/adverse order by a regulatory authority that casts doubt on the ability of the bidder to manage the public sector unit when it is disinvested, or which relates to a grave offence” would disqualify a bidder in the disinvestment of a public sector enterprise. The memorandum adds that an appeal against such an adverse order would not overturn the disqualification as long as the appeal is pending.

On this ground alone, the order by the NCLT appears to fit the criteria of being an adverse order by a regulatory body that casts doubt on the ability of Almas Global to manage Pawan Hans. That Almas Global has announced that it will appeal the order before the NCLAT should not affect its potential disqualification. According to the procedure laid out in the memorandum, the government has to send a show-cause notice to Almas Global asking why it should not be disqualified from bidding for Pawan Hans.

Then comes the issue of financial eligibility. The government has not yet clarified whether Star9 Mobility was an eligible bidder before it was declared the winning bidder. The preliminary information memorandum for inviting expressions of interest in the “strategic disinvestment” of shares of the government of India in Pawan Hans stated that “Alternative Investment Funds (AIF) registered with (the Securities and Exchange Board of India) SEBI as per SEBI (Alternative Investment Funds) Regulations, 2012 are eligible to participate in the bid provided the concerned AIF has obtained “all statutory approvals” from the relevant ministry in the government of India, the Foreign Investment Promotion Board, the Directorate General of Civil Aviation, the Reserve Bank of India and so on.

An excerpt from the Preliminary Information Memorandum of Pawan Hans Limited. The document lists the eligibility criteria for the IBs

An additional criteria for AIFs is the definition of its net worth. While the bid conditions demanded that the collective net worth of the winning bidder be more than Rs. 300 crore, in the case of the Star9 Mobility Consortium, the net worth requirement had to be entirely covered by Almas Global’s net worth, as we detailed in our previous article. In clarifications that have appeared in the media quoting anonymous government officials, it has been reported that Almas Global provided documentation of its net worth being Rs. 691 crore.

However, the eligibility criteria state that in the case of an AIF, “net worth shall be substituted by maximum permissible investment limit for that particular AIF in a single investee entity.” This limit would be “considered as per independent chartered accountant/statutory auditor’s certificate not older than 3 months” from the date of the issue of the preliminary information memorandum.

Almas Global Opportunity Fund claims to be an Alternative Investment Fund (AIF). However, as of the night of 26 May, Almas Global’s name cannot be found in SEBI’s list of registered AIFs. How then did the government allow a non-registered AIF to participate in the bid? How did the government arrive at a figure for Almas Global’s maximum permissible investment limit? Who was the independent chartered accountant/statutory auditor that issued a certificate of this investment limit for Almas Global? Was the “statutory auditor” determined based on the statutes of the Cayman Islands (where Almas Global is registered), or as per India’s statutes?

As of 26 May 2022, Almas Global Opportunity Fund is not among the registered AIFs on the SEBI’s website

We sent ten questionnaires by email at noon on 25 May to the following individuals for a response:

Union Minister of Civil Aviation Jyotiraditya Scindia

Secretary, Civil Aviation, Pradeep Singh Kharola

Union Minister of Finance and Corporate Affairs Nirmala Sitharaman

Minister of State for Finance and Corporate Affairs Pankaj Choudhary

Finance Secretary Dr TV Somanathan

Minister for Road Transport and Highways Nitin Gadkari (who, along with Sitharaman and Scindia is a member of the Cabinet Committee on Economic Affairs that approved Star9 Mobility’s bid for Pawan Hans)

Secretary, Department of Investment and Public Asset Management, Ministry of Finance, Tuhin Kanta Pandey

Captain Sanjay Mandavia of Big Charter

Sumit Sawhney of Maharaja Aviation

Amardeep Sharma of Almas Global Opportunity Fund

Response from Amardeep Sharma

At around 4 pm on the same day, Amardeep Sharma, who is based in Dubai, responded by contacting one of the authors over the phone. Sharma said that Almas Global Opportunity Fund has received the necessary regulatory clearances for the Pawan Hans deal, and that the fund has nothing to do with Tagwirei of Zimbabwe. Sharma added that he is confident of acquiring a controlling interest in Pawan Hans Limited, and that he would make it into a better company and employ many more people. Sharma said being from a small town in India (Korba, Chhattisgarh), he is a patriot, and wants India to receive foreign investments.

In a subsequent written response Sharma added the following statements :

“Almas Capital Limited is the 100% management shareholder and the Fund Manager of Almas Global Opportunity Fund. Almas Global Opportunity Fund has around USD 550 million worth of assets under management, and it has invested across the globe including exposure in the Indian markets. It has a substantial amount of liquid assets (market securities). I would disagree ,..Almas Global opportunity fund is more than 4 years old, a broad-based, well-diversified fund, and has invested across the globe in multiple asset classes, which has huge exposure in India.

I am not part of Almas Capital Limited or Almas Global Opportunity Fund anymore. Almas Global Opportunity Fund has two directors as required by the Cayman Islands. Almas Capital Limited manages the Fund. Vishal Rana is the director of Almas Capital Limited. AGOF has no relationship with Mr Kudakwashe Tagwirei, as he is not a subscriber of the Fund. The Fund has stringent compliance and code of conduct policies for its subscribers. We are in the process of exiting from Ziwa resources. We have not and cannot disclose the subscribers’ names as such information is confidential. We are a private fund. We are not a Foreign Portfolio Investment (FPI) company or fund, so we don’t have to be registered with SEBI. The Foreign Portfolio Investment Companies get registered with SEBI.”

After his written response, Sharma consented for an interview via video-conferencing. The full edited transcript of our interview with Sharma will be published shortly in The Probe.

Ministry of Civil Aviation seeks response from DIPAM

While we did not receive any answers to the questions we sent to government officials and ministers, at around 10:20 am on May 27, one of the authors was CC-ed on an email sent by an official in the Ministry of Civil Aviation to officials in the DIPAM and to employees of SBI Capital Markets. (SBI Capital Markets has been appointed as the transaction adviser for the entire process of disinvestment of Pawan Hans) The email forwarded to the DIPAM and SBI Capital Markets officials has the questionnaire sent by one of us to the secretary of the ministry of civil aviation and read:

“Reference trailing email, it is requested to furnish requisite information on the questionnaire…urgently”

No information was furnished by DIPAM or by SBI Capital Markets until publication. This article will be updated as soon as we receive further responses.

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digitalmarketingteams · 4 months ago

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Why You Should Consult a Certified Financial Advisor in Mauritius: Benefits and Insights

Navigating the complexities of financial planning can be challenging, especially when you aim to achieve specific financial goals. Whether you're planning for retirement, investing in opportunities, or managing your assets, a certified financial advisor in Mauritius can offer invaluable guidance. This article explores the key benefits of consulting with a certified financial advisor and how their expertise can significantly impact your financial well-being.

Personalized Financial Planning

One of the primary benefits of working with a certified financial advisor in Mauritius is receiving personalized financial planning. Unlike generic financial advice, certified advisors tailor their strategies to your unique financial situation, goals, and risk tolerance. They conduct a thorough assessment of your financial health, including income, expenses, assets, and liabilities, to create a customized plan that aligns with your long-term objectives. This personalized approach ensures that your financial plan is not only comprehensive but also adaptable to any changes in your circumstances.

Expert Investment Advisory

Investment decisions can be daunting, especially in a dynamic market. A certified financial advisor in Mauritius provides expert investment advisory services to help you make informed choices. They offer insights into various investment options, including stocks, bonds, real estate, and more. By analyzing market trends and understanding your risk profile, they can recommend investment strategies that optimize returns while managing risks. Their expertise in investment advisory ensures that your portfolio is well-diversified and aligned with your financial goals, providing you with peace of mind.

Strategic Management Consulting

Beyond personal finance and investments, certified financial advisors in Mauritius often offer management consulting services. They assist with business financial planning, risk management, and strategic decision-making. Whether you’re an entrepreneur looking to optimize your business finances or an individual seeking advice on managing wealth effectively, their management consulting expertise can be a valuable asset. They help streamline financial processes, improve efficiency, and implement strategies that drive growth and sustainability.

In summary, consulting a certified financial advisor in Mauritius provides numerous benefits, from personalized financial planning and expert investment advisory to strategic management consulting. Their expertise ensures that you receive tailored advice and effective strategies for achieving your financial goals. For comprehensive financial services and professional guidance, consider partnering with Intrasia Management.

#management consulting mauritius #certified financial advisor mauritius #investment advisory mauritius

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reyx-baron · 1 year ago

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Abstract： Financial Services Commission, (FSC) Mauritius issues warning against a certain form called Neel Oodhub which is claiming, on social media, that Neel Capital Holdings provides its services in investment advisory, private equity, private wealth, and wealth management including blockchain and is regulated by the FSC

#FSC #InvestorAlert #FraudPrevention #WikiFX

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afsarazizeabdullaebrahim · 4 years ago

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4th Pension Funds and Alternative Investments Africa Conference - Afsar Azize Abdulla Ebrahim

Name: Afsar A. A. Ebrahim

Position: Executive Director, Kick Advisory

Event: PIAfrica 2021

Mauritius hosted the past editions of PIAfrica. Can you let us know how Mauritius is evolving in a currently competitive environment?

Mauritius is evolving as an international financial center of prestige and substance. There are headwinds regarding the verdict of the FATF and the EU, but Mauritius is largely compliant and there have been a number of amendments to the regulatory framework which have improved the reputation of the jurisdiction. Obviously, there is a transition phase and a delay before all the issues are resolved.

We must not lose sight of the ecosystem of the financial services landscape within the Mauritian economy. The solid regulatory framework, the quality of the professionals, the position of the banks, including the main international ones, the various multinationals that have made Mauritius their place of residence and, lastly, the independence of the judicial system, including recourse to the Council Private of the United Kingdom along with that of Mauritius. An international arbitration center joins in to make Mauritius a growing force.

Over the past two decades, we have witnessed how the Mauritius International Financial Center has built a worldwide reputation. Mauritius has lived up to expectations by ensuring good corporate governance, a wide variety of modern financial products and services, and global connectivity along with competitive operating costs.

Also, in terms of ease of doing business, Mauricio is doing well. The jurisdiction consistently ranked first among African countries in a number of indices such as the World Bank's Ease of Doing Business Index, the Global Competitiveness Report, among others.

We also note that Mauritius was previously largely perceived as a "treaty buying competition" and an administrative jurisdiction, but in recent years this is all changing rapidly. The IFC is moving forward with a strategy to demonstrate economic substance over and above existing legal substance. In addition, innovative value-added products and services have been developed that offer a new level of sophistication.

Why is Mauritius a unique springboard for the continental free trade area?

Mauritius is a market of 1.2 million, but aspires to be the gateway to a market of 1.2 billion, although not all countries are part of the CFTA. The Mauritius IFC is the capital attracting magnet implemented as Foreign Direct Investment in Africa. The CFTA will attract more investors to the continent, but because it is a fragmentation of 54 countries, 54 markets, 54 rules of law, it makes business sense to settle in Mauritius before taking a cohesive approach to 'go to market'. from here.

Mauritius is well positioned as a platform to finance the continent. Regarding relations with African countries, there has been very good progress.

In fact, investors are looking for ecosystems with stable, politically well-supported financial centers that have an affinity for Africa and offer world-class infrastructure. Mauritius meets all the requirements to serve the African region as the country has become an experienced IFC contributing to the flow of FDI into Africa from the rest of the world and continues to be a strategic development partner in and for the continent.

Over the years, Mauritius has developed very good bilateral relations with many emerging markets on the African continent. For example, if you look at the number of bilateral investment treaties with Africa, Mauritius has signed 23 double taxation agreements with the continent. Mauritius is also well prepared to be the ideal risk mitigation platform that would provide security and peace of mind to investors, with 24 Investment Promotion and Protection Agreements (IPPA) signed with African states, including protection against expropriations, compensation for losses and free repatriation of capital gains.

Furthermore, Mauritius has been a member of the Multilateral Investment Guarantee Agency (MIGA), part of the World Bank Group, since December 28, 1990. Therefore, companies incorporated in Mauritius are eligible for MIGA guarantees that protect investors against the risks of transfer restrictions, expropriation, war and civil unrest, breach of contract and breach of sovereign financial obligations.

Furthermore, Mauritius's suitability as a business destination is reinforced by its membership of all the major African regional organizations. These include the African Union, the Southern African Development Community (SADC), the Common Market for Eastern and Southern Africa (COMESA) and the Indian Ocean Basin Association for Regional Cooperation (IOR-ARC), making to Mauricio in the ideal platform to attract funds. required for African companies.

Is your company already doing business in Mauritius? If not, are you planning to invest in the country? Why?

KICK has started on July 20 in Mauritius. There is no better place to run a boutique corporate finance firm in this part of the world as you can access both equity and debt from Mauritius.

What strategies should be taken to leverage Mauritius as an international finance centre?

The Mauritius Government's strategy to improve the regulatory framework is making the country attractive as an International Financial Center. The competitive advantages of this island nation lie in the growing pool of talents educated with experienced professionals available to serve the different requirements of international clients. Government investment in education is a strategy that is paying off. With the assistance of the Economic Development Board, Mauritius is attracting major operators to operate in the jurisdiction. However, more can be done to attract traders in Wealth Management and to attract reputable hedge funds and private banks.

Source: pensionfundsafrica.com

#Afsar Azize Abdulla Ebrahim #Pension Fund Africa #Interview #Mauritius #KICK Advisory Services

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nj-ayuk · 5 years ago

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NJ Ayuk – CEO of Centurion Law Group

http://nj-ayuk.co.za/Mr. NJ Ayuk is the CEO of Centurion Law Group, a pan-African legal and advisory conglomerate with its headquarters in South Africa and offices in Equatorial Guinea, Ghana, Cameroon and Mauritius. His experience includes advising major companies on investment strategies, the establishment of joint ventures and cooperation structures, privatisation, licensing and related tax matters, OHADA law, oil and gas, power, local content development, litigation, contracts negotiation, governance and other matters pertaining to Africa’s energy sector.

He is particularly active in the structuring, negotiation and implementation of petroleum, mining, LNG, and other natural resource projects for leading private operators in Equatorial Guinea, South Sudan, Uganda, Angola, Congo-Brazzaville, Nigeria, Senegal and other sub-Saharan countries. His experience has included facilitating and negotiating PSCs, EPSAs, JOAs, service agreements, concessions, oilfield service and drilling contracts, and dealing with licensing and pipeline and marine transportation issues, including the sale and transportation of LNG, in over 15 African countries.

As part of his most recent work on African content development, he has advised the Ministry of Petroleum and Energies of Senegal, the Ministry of Petroleum of South Sudan and the Ministry of Mines and Hydrocarbons of Equatorial Guinea on their national local content implementation strategies. He has also been part of the most strategic investments and projects shaping Africa’s energy sector in recent years, including the drafting of South Sudan’s first exploration and production sharing agreement and the launch of Equatorial Guinea’s offshore gas mega hub in 2019, the first such project on the African continent.

Drawing from past experience working with the United Nations, he advises governments on judicial modernisation, rule of law issues, and the training of African judges, prosecutors and lawyers on a pro bono basis. Mr Ayuk regularly participates in industry-specific conferences and seminars as a speaker and moderator.

In order to bring the African legal industry into the 21st century, he launched in 2018 CenturionPlus, Africa’s first lawyers and advisors on demand service offering that lets companies and investors scale their legal teams up and down according to their corporate and project requirements.

Since 2018, he is also the executive chairman of the African Energy Chamber where he leads continent-wide efforts to build domestic capacity and advocate for a stronger and more united African energy industry.

Mr Ayuk is recommended in Chambers, Who’s Who Legal, and Forbes Magazine. He is also the author of the industry best-seller, Big Barrels: African Oil and Gas and the Quest for Prosperity, which recaptures the narrative on Africa’s oil and gas sector to provide a more objective and balanced picture of the industry’s benefits for African economies and entrepreneurs.

He graduated from University of Maryland College Park and earned a JD from William Mitchell College of Law in the United States. He holds an MBA from the New York Institute of Technology and is an active member of the Association of International Petroleum Negotiators (AIPN), the Institute for Energy Law (IEL) and the Petroleum Joint Venture Association (PJVA).

His second book, Billions at Play: The Future of Africa Energy and Doing Deals, will be published at the end of 2019.

More Information visit –

http://nj-ayuk.co.za/

https://whoswholegal.com/nj-ayuk

#NJ Ayuk

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glex24 · 2 years ago

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kickadvisory · 8 months ago

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Unlock new possibilities and optimize your financial strategy with expert advisory services. Whether you’re a startup seeking funding or a seasoned investor looking to diversify your portfolio, our experienced advisors provide personalized guidance to help you achieve your financial goals. Trust in our expertise to navigate complex financial landscapes and make informed decisions.

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agilisadvisorsgmbh · 3 years ago

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dailyjobse · 3 years ago

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Training Coordinator at InvestEcon Group Pty Limited

InvestEcon Group Pty Limited InvestEcon Group PTY is a financial and investment advisory firm operating in Sub-Saharan African Countries and Mauritius. The company also offers brokerage and trading services for financial securities and currencies through registered intermediary trading platforms as well as commodity trading. InvestEcon now seeks to recruit a Training Coordinator to join its…

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adalidda · 3 years ago

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Illustration Photo: Brubaker Farms, is both a diary and green energy producer in Mount Joy, PA, USA. The family farm owned by Luke, Mike and Tony Brubaker has approximately 850 cows and 700 young stock, producing 20,200,000 pounds of milk. Their methane digester can handle more than 41,859 metric tons of organic waste, to capture methane gas that fuels a low emission generator producing 225 kW. This powers the digester itself and farm operations. Excess power is sold to the local power grid, allowing the community to benefit from a green energy source. (credits: USDA Photo by Lance Cheung / Public domain)

PFAN funding for Climate Change Mitigation and Adaptation Projects

For Angola, Benin, Botswana, Burkina Faso, Burundi, Cabo Verde, Cameroon, Central African Republic, Chad, Comoros, Congo, Cote d’Ivoire, Democratic Republic of Congo, Djibouti, Equatorial Guinea, Eritrea, Ethiopia, Gabon, Gambia, Ghana, Guinea, Guinea-Bissau, Kenya, Lesotho, Liberia, Madagascar, Malawi, Mali, Mauritania, Mauritius, Mozambique, Namibia, Niger, Nigeria, Rwanda, Saint Helena, Sao Tome and Principe, Senegal, Sierra Leone, Somalia, South Africa, South Sudan, Sudan, Swaziland, Tanzania, Togo, Uganda, Zambia, Zimbabwe,Antigua and Barbuda, Bahamas, Barbados, Cuba, Dominica, Dominican Republic, Grenada, Haiti, Jamaica, Montserrat, Saint Kitts and Nevis, Saint Lucia, Saint Vincent and the Grenadines, Trinidad and Tobago,Belize, Colombia, Costa Rica, El Salvador, Guatemala, Guyana, Honduras, Mexico, Nicaragua, Panama,Bangladesh, Bhutan, Cambodia, India, Indonesia, Lao PDR, Malaysia, Maldives, Myanmar, Nepal, Pakistan, Philippines, Sri Lanka, Thailand, Timor-Leste, Vietnam,Afghanistan, Armenia, Azerbaijan, Belarus, Georgia, Iran, Kazakhstan, Kyrgyzstan, Mongolia, Republic of Moldova, Tajikistan, Turkey, Turkmenistan, Ukraine, Uzbekistan,Cook Islands, Fiji, Kiribati, Marshall Islands, Micronesia, Nauru, Niue, Palau, Papua New Guinea, Samoa, Solomon Islands, Tokelau, Tonga, Tuvalu , Vanuatu, Wallis and Futuna

The Private Financing Advisory Network (PFAN) is a global network of climate and clean energy financing experts, which offers free business coaching and investment facilitation to entrepreneurs developing climate and clean energy projects in emerging markets.

Sectors & Technologies

PFAN works with projects in a variety of sectors and technologies working towards climate change mitigation and adaptation.

Agriculture & Agribusiness

Biodiversity & Eco-system Services

Clean Cooking

Clean Technology

Climate Change Adaptation

Climate Resilience Infrastructure

Cooling

Energy Efficiency & Demand Reduction

Energy Storage & Conservation

Renewable Energy

Rural Electrification & Energy Access

Tourism

Urban Resilience

Waste Treatment

Water & Sanitation

Examples of eligible projects

Projects and businesses which deploy clean and renewable energy and/or climate change technologies for productive uses; Greenfield and brownfield utility projects, independent power producer and distributed generation projects (for both thermal and electrical energy); Existing projects which are operating at small or pilot scale and which are ready for scale-up; Projects which increase access to energy for remote communities, including rural electrification, off-grid and mini-grid projects, thermal energy and clean cooking solutions; New or expanding business ventures in clean energy and related technologies, including downstream projects (focused on deployment of existing technologies) and upstream projects (focused on development and commercialisation of a new clean technology); Mergers, acquisitions or joint ventures, which will add value to an existing clean energy / technology business.

Investment amount

The investment amount, or investment ask, should lie between US$1 million and US$50 million. This may be disbursed in smaller tranches as requested.

ONLY for energy access and rural electrification projects (clean cook stoves, solar home systems, mini grids) an exception is made, and the investment ask can lie between US$500,000 and US$50 million. This too may be disbursed in smaller tranches as requested.

Preparing your Project Proposal

The main document for your project application is the Project Proposal: a concise and credible plan that is straightforward and easily understood by evaluators and reviewers. It should provide enough detail to give evaluators a clear idea of your project’s rationale, structure and management, investment ask, returns and risks as well as climate benefits and any developmental, social and gender impacts.

Please click here to read the Guidelines for your Project Proposal https://pfan.bendorodigital.com/preparing-your-project-proposal/

PFAN is active in low- and middle-income countries in Sub-Saharan Africa, South Asia, Southeast Asia, the Pacific Islands, Eastern Europe, Central Asia, Central America and the Caribbean Islands.

Application Deadline: October 31, 2021

Check more https://adalidda.com/posts/cLDZJFAZdhvREprLb/pfan-funding-for-climate-change-mitigation-and-adaptation

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techfuturemrfr · 4 years ago

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Blockchain in Fintech Market Overview, Business Opportunities, Sales and Revenue, Supply Chain, Challenges by 2023

According to Market Research Future (MRFR), the global blockchain in financial technology (fintech) market is estimated to reach USD 6700.63 million at a CAGR of 75.2% from 2017 to 2023 (forecast period). The report summarizes the market opportunities and market ramifications that arose as a result of the COVID-19 pandemic.

Blockchain is a technology that uses a shared ledger to record transactions across a decentralized computer network. Blockchain in fintech monitors and regulates information on digital transactions in fintech and prevents duplication. The incorporation of this technology offers real-time payments against assets with immutable state and digital identity, resulting in substantial cost savings in terms of reconciliation and settlement for a variety of financial institutions and banks. Leading financial institutions and banks, including J.P. Morgan, Citibank, Goldman Sachs, and Barclays, have taken measures to implement this technology.

Market Dynamics

Significant factors driving blockchain in fintech market are strong compatibility with the finance industry’s ecosystem, quicker transactions, and decreased overall ownership costs. North America is projected to dominate the market due to a technically advanced region and the involvement of key players. Significant factors driving this demand are the growing cryptocurrency market, initial coin offering (ICO), and reduced transaction costs. Nevertheless, uncertain regulatory standards and frameworks and lack of blockchain applications and use cases are expected to restrict the market growth over the projected period. Future business growth opportunities include the growing acceptance of blockchain applications, such as payments, identity management, clearance and settlements, smart contracts, and new programmable blockchain platforms.

Get Free Sample Copy of the Report @ https://www.marketresearchfuture.com/sample_request/6368

Market Segmentation

The globalblockchain in fintech market has been segmented into service provider, interaction channel, organization size, and application.

By service provider, the global market has been segmented into application and solutions, middleware & services, and infrastructure & base protocols.

By interaction channel, the market has been segmented into bank branches, mobile applications, websites, call centers, and others.

By organization size, the global market has been segmented into large enterprise and SME.

By application, the market has been segmented into banking, payment, smart contracts, trade & supply chain finance, insurance, capital market, risk management & compliance, digital identity management, and others.

Regional Analysis

The regional analysis of the blockchain in fintech market is studied for North America, Europe, Asia Pacific, and the rest of the world.

North America is expected to dominate the blockchain in fintech market due to the growing adoption of advanced technology and infrastructure in the region. The Asia Pacific is projected to be the fastest-growing area on this market, powered by a rise in overall investment in blockchain technology solutions to change the business processes in the finance industry.

Key Players

The prominent participants in the blockchain in fintech market are Ripple (US), Amazon Web Services, Inc. (US), IBM Corporation (US), Microsoft Corporation (US), Chain Inc (US), BTL Group (Canada), Earthport PLC. (UK), Bitfury Group Limited (US), Oracle Corporation (US), and Digital Asset Holdings (US).

Ripple is one of the leading players in this market that connects banks, payment providers, digital asset exchanges, and companies via its platform RippleNet to provide a seamless experience in sending money globally. RippleNet is developed with advanced blockchain technology that is scalable, stable, and interoperates across different networks.

Other players in the global blockchain in fintech market are Circle Internet Financial Limited (Ireland), Guardtime (Estonia), Factom (US), AlphaPoint (US), Coinbase (US), Plutus Financial, Inc. (US), Symbiont.io (US), Auxesis Group (India), BitPay (US), Tradle (US), BlockCypher, Inc. (US), Applied Blockchain Ltd. (UK), Cambridge Blockchain, LLC. (US), Blockchain Advisory Mauritius Foundation (Mauritius), and RecordesKeeper (Spain), among others.

Access Complete Report @ https://www.marketresearchfuture.com/reports/blockchain-fintech-market-6368

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blogtechfuturemrfrworld · 4 years ago

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Blockchain in Fintech Market Rate, Future Trends, Market Drivers and Opportunities

Market Dynamics

Get Free Sample Copy of the Report @ https://www.marketresearchfuture.com/sample_request/6368

Market Segmentation

The globalblockchain in fintech market has been segmented into service provider, interaction channel, organization size, and application.

By service provider, the global market has been segmented into application and solutions, middleware & services, and infrastructure & base protocols.

By interaction channel, the market has been segmented into bank branches, mobile applications, websites, call centers, and others.

By organization size, the global market has been segmented into large enterprise and SME.

Regional Analysis

The regional analysis of the blockchain in fintech market is studied for North America, Europe, Asia Pacific, and the rest of the world.

Key Players

Access Complete Report @ https://www.marketresearchfuture.com/reports/blockchain-fintech-market-6368

About Market Research Future:

At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research & Consulting Services.

MRFR team have supreme objective to provide the optimum quality market research and intelligence services to our clients. Our market research studies by Components, Application, Logistics and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help to answer all their most important questions.

In order to stay updated with technology and work process of the industry, MRFR often plans & conducts meet with the industry experts and industrial visits for its research analyst members.

Contact: Market Research Future 528, Amanora Chambers, Magarpatta Road, Hadapsar Pune – 411028, Maharashtra, India Email: [email protected]

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njayuksa · 5 years ago

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Biography About Nj Ayuk

Mr. NJ Ayuk is the current CEO of Centurion Law Group, which comes as a pan-African legal and advisory conglomerate having its main headquarters in South Africa. Moreover, the firm has its global outreach in countries like Equatorial Guinea, Ghana, Cameroon and Mauritius. If we look into his high-end experience, he has advised some of the major firms around in their investment strategies, the creation of joint ventures and corporation structures, privatization, licensing and related tax matters, OHADA law, oil and gas, power, local content development, litigation, contracts negotiation, governance and other matters related to the energy the sector of Africa.

He is mainly active in the structuring, conciliation and execution process of some of the core industries like petroleum, mining, LNG, and other natural resource projects. Additionally, his big clientele bases include some of the renowned private operators in countries like Equatorial Guinea, South Sudan, Uganda, and Angola, Congo-Brazzaville, Nigeria, Senegal and other sub-Saharan countries. He brings along some big experience in facilitating and negotiating PSCs, EPSAs, JOAs, service agreements, concessions, oilfield service and drilling contracts, whilst also dealing with the licensing, pipeline and marine transportation issues. Well his firm was also included in the sale and transportation of LNG in more than 15 African countries.

If we look down to his most recent work in the given domains, he has brought in his expertise whilst advising the Ministry of Petroleum and Energies of Senegal, the Ministry of Petroleum of South Sudan and the Ministry of Mines and Hydrocarbons of Equatorial Guinea for all of their local policies and plan implementation strategies. He has also ensured his crucial participation in most of the strategic investments and projects which aims towards serving Africa’s energy sector in recent years. Well, this includes the drafting process of South Sudan’s first exploration and manufacture sharing agreement and the commencement of Equatorial Guinea’s offshore gas mega-hub in 2019, the first-ever one of its kind project in the whole African continent.

While Nj Ayuk Centurion Law Group has already worked with the United Nations, he has used the same experience in taking care of various judicial modernization issues, rule of law issues, along with the training of African judges, prosecutors and lawyers on a pro bono basis. Nj Ayuk also ensures his active participation in domain-specific seminars and conferences while being an active speaker and moderator.

He was the one who aimed towards bringing the African legal industry to the 21st century and further launched Centurion Plus, which comes as one of Africa’s first lawyers and advisors on-demand service which facilitates all the companies and investors level their legal advisories teams according to the given projects requirements.

It has been since the year 2018, where he has been serving as executive chairman of the African Energy Chamber. This is where he has led the continent-wide efforts to develop the domestic capacity whilst advocating for a sturdier and centralized African energy industry.

Nj Ayuk Centurion Law Group got featured in the Chambers, Who's Who Legal, and Forbes Magazine and he further comes as an author of some of the industry best-sellers, Big Barrels: African Oil and Gas and the Quest for Prosperity, which looks through the account on Africa’s oil and gas sector while offering a clearer and more balanced picture of various benefits of efficient African economies and entrepreneurs.

If we talk about his education, he got his graduation completed from the famous University of Maryland College Park and further secured a JD from William Mitchell College of Law in The United States. He also holds an MBA from the New York Institute of Technology and comes over as an active member of Association of International Petroleum Negotiators (AIPN), the Institute for Energy Law (IEL) and the Petroleum Joint Venture Association (PJVA).

#nj ayuk #nj ayuk centurion law group #nj ayuk guardian #nj ayuk wife

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