In 21st century post-colonial Africa, African leaders have visualised, mobilised, and worked towards economic advancement nationally, regionally, and continentally. In the past 60 or more years there has been a concentration on regional integration as to achieve economic growth and increase global competitiveness. More recently, intra-African trade has emerged as an essential component of continental economic advancement. However, there have been many obstacles that have hindered intra-African trade from achieving its potential and functioning in a way that truly benefits the continent. This dissertation will examine the effect that some of those challenges and obstacles (including border issues, documentation, and the lack of essential infrastructure), have had on intra-African trade.

Includes abstract. / Includes bibliographical references (p. 278-300). / This study examines the problem of low level tax compliance in Tanzania. It proceeds from the premise that high level taxpayer compliance is essential to the success of the tax system. Unless taxpayer compliance is achieved at sufficient levels, the performance of the tax system will be significantly impaired.

Includes bibliographical references. / This dissertation paper is based on the decision of the Wal-Mart cases in respect to competition law, mergers and acquisition in Namibia. Owing to the fact that Namibian law is mostly derived from South African law, the exploration and analysis will be based on both Wal-Mart cases in Namibia and South Africa in respect of the subject matter with specific particularity on the significance of the court’s judgment to competition law development in Namibia. The paper will also contain an exposition of the High Court and Supreme Court’s judgment in Namibia as well as the judgment of the South African Court on the same subject respectively. This is aimed at providing an in-depth understanding of the approaches taken by the two courts with respect to mergers and also to derive guidelines from the interpretation of the court in South Africa owing to the fact that the court in South Africa has successfully and efficiently dealt with the same issues many times compared to the Namibian courts. The guidelines that will be looked at will be based on how the courts in Namibia and South Africa have applied and interpreted the provisions within the Act pertaining to statutory granting or refusal of mergers in the sphere of competition law with specific reference to the question of public interest. An analysis on the respective judgments will be provided.

Includes bibliographical references. / The primary focus of this paper is on the cross-border supply of electronic services into South Africa by non-resident e-commerce businesses. This paper will discuss the nature of electronic commerce (e-commerce) and electronic services; the impact that e-commerce has on indirect taxes such as value-added tax; the previous legislation and its shortfalls; the nature of the new legislated VAT amendments; the problems that were faced by the tax authorities in its efforts to enact the new tax VAT amendments; the problems that the South African Revenue Services (SARS) may face in enforcing compliance with the new tax legislation; the guidelines that have been put forward by the Organisation for Economic Co-operation and Development (OECD) with regard to international trade over the internet; and the measures that have been put in place in other jurisdictions that directly deal with e-commerce.

The advent of our constitution necessitated a drastic re-evaluation of our aspirations as a young democratic state. Formal equality had to be accompanied by substantive equality. Substantive equality could only be achieved by a total revamp of our economic policy and framework, which was designed to benefit the white minority. The government quickly realized the fact that our competition jurisprudence had a significant role to play in bringing about economic and social reform. The challenge however was that the economy inherited, was littered with monopolies. As a result in 1995, the South African government embarked on a project to review competition policy and the process was concluded in September 1998 when Parliament passed the Act into law. The Act introduced new provisions, including the consideration of public interest in merger regulation. The inclusion of public interest in the Act was motivated by the need to address the socio-economic inequalities arising in society. Competitiveness and development was seeing as mutually supporting objectives. It was recognised that a small economy like South Africa, may be concentrated and therefore any merger and acquisition activity can create further concentration and social disparities if left unchecked. Mergers may lead to the shedding of jobs, especially where they are driven by cost saving and efficiency goals. Hence, it was recognised as being important that merger regulation consider the preservation of jobs where these arise as a result of the merger. In an economy with high unemployment rates, it would not serve the public interest to encourage or allow further job losses. Hence the inclusion of section 12 A 3 of the Competition Act which made it mandatory to consider public interest considerations in merger proceedings. This paper seeks to evaluate if competition authorities have carried out their mandate of addressing socio economic issue in merger processing through section 12 A (3).

One of the paradoxes in company law is the phenomenon of treasury shares. Their complex nature coupled with the risks attached to their use has rendered them problematic and unnecessary in modern company law. Refuting arguments stated against the use of treasury shares, this paper aims to build a case for the introduction of treasury shares into South African company law. In order to achieve this, the paper will firstly examine the nature and complexity of treasury shares. Thereafter, it will discuss their importance in modern company law by highlighting their commercial value. A study of their incorporation into a few jurisdictions will also be discussed in an attempt to propose a manner in which South Africa can introduce treasury shares into its law. It is a suggestion of this contribution that the recent company law reform was a missed opportunity to adopt treasury shares. The adoption of treasury shares would have been an indication of a complete breakup from traditional straitjacket concept of capital maintenance. However, as they were not adopted when the new Companies Act 71 of 2008 this paper will propose, in conclusion, that treasury shares ought to be adopted.

Two or more companies may decide that their businesses should be combined for a number of reasons. This may, for example, be done in order for the companies to have access to new markets, to increase their market share, to increase their profitability by reducing the inefficiencies involved in the running of two or more companies in the same business area or to acquire technology, infrastructure, expertise and/or skill in new practice areas. Before the advent of the Companies Act 71 of 2008 South African law did not make provision for 'mergers' as that term is understood in many other jurisdictions. South African law did not recognise any mechanism by which one entity could be combined with another in terms of a statutory process, also referred to as a 'consolidation' in certain jurisdictions. One of the most significant changes proposed for the Companies Act was to make provision for a legal process by which companies could be combined. The concept of the amalgamation or merger of companies was accordingly introduced into our law, so as to enhance the efficiency of business combinations and to promote flexibility in this regard. It is significant that the statutory process of amalgamating or merging companies was adopted in addition to the existing forms of business combinations and/or acquisitions, such as the sale of a business as a going concern, the common law scheme of arrangement and offers to acquire the shares and/or other securities in a company. Companies therefore now have at their disposal an additional mechanism by which to engage in business combinations and/or acquisitions, and are required to consider in each proposed transaction the relevant circumstances to determine which mechanism will be most effective in giving effect to that transaction. This is in line with the move in the Companies Act towards self-regulation and the object of the Companies Act to encourage entrepreneurship. The main purpose of this work is to compare the requirements for, manner of implementation and consequences of an amalgamation or merger as contemplated in the Companies Act, referred to herein as a 'statutory merger', with that of the common law sale of a business.

Includes bibliographical references / The status of a creditor has always been vitally important in South African law. Our law contains numerous provisions - amongst others in the law of insolvency - to protect creditor's rights, that is, the ability of creditors to collect from debtor s what they are owed. Traditionally secured creditors - that is, creditors who hold some form of real security for their claim - rank higher in priority when it comes to repayment of their claims by a defaulting debtor, both in individual and collective debt enforcement procedures, and as such are, in the vast majority of cases, able to recover full or at least partial repayment of their claims. Business rescue was introduced into South African l aw with the commencement of the Companies Act 71 of 2008, which became effective on 1 May 201 1. Business rescue is a relatively new collective debt enforcement mechanism applicable to corporate debtors. There has been considerable uncertainty with regards to the interpretation of some of its provisions, mainly due to important concepts and terms not being defined. This uncertainty has extended to the provisions dealing with the extension of finance to a corporate debtor after commencement of the business rescue proceedings (so-called 'post-commencement finance') and the ranking of priority of creditors of such corporate debtor during the business rescue proceedings. The dissertation firstly seeks to explain the concept of business rescue, with specific emphasis on post-commencement finance. The relevant provisions relating to post-commencement finance are interpreted along the lines of recent principles governing statutory interpretation. An apparent conflict in the interpretation of these provisions is identified through specific reference to the limited number of judicial pronouncements on this subject matter to date. In attempting to resolve the apparent conflict in the interpretation of the relevant provisions, the dissertation then briefly considers the background to business rescue in South Africa. The Companies Act itself is considered, with specific reference to its stated purpose and objects, along with a look at the historical development of the specific provisions in question. A brief review is then undertaken of the role and f unction of real security in a collectively debt enforcement procedure such as business rescue under South African law, with specific reference to the existing distribution rules in insolvency la w. A comparative review of relevant foreign jurisdictions is then carried out. The dissertation concludes with a suggested approach to the interpretation of the ranking of priorities under business rescue.

Includes bibliographical references / This study examined the challenges confronting private equity funds. These funds face governance challenges, including a lack of transparency and disclosure to investors. Investor protection in leading jurisdictions ranges from voluntary self-regulation, to minimal regulatory measures and an exhaustive regulatory approach. These approaches have, however, proven limited with regard to both application and their effectiveness in promoting investor protection, and market efficiency. Two methods have been identified to address governance challenges. The legal tools include facilitating transparency, the disclosure of information and the promotion of investor protection. These tools include:1) A negotiated structural approach, with side letters that provide individual investors with information and the establishment of an advisory board with limited control over the fund's operations; and 2) A co-regulatory approach, which combines contractual, self-regulation, and financial regulations to address governance challenges efficiently and effectively. Both methods have potential to address the governance challenges and increased investor concerns that have arisen as a result of the manner in which private equity funds operate. The approach suggested by this study is based on an understanding of private equity as an asset class. The approach is effective and efficient. It encourage sand promotes investor protection, while at the same time promoting the South African private equity industry as a flexible and lucrative market. There has been limited critical legal assessment of governance mechanisms in the context of private equity. This study thus contributes to the body of knowledge on the legal assessment of private equity funds.

The Constitution of Botswana under section 3 read in conjunction with section 15, guarantees all Batswana equal enjoyment of fundamental rights and freedoms irrespective of one's race, colour, sex, tribe, status etc. Section 15 (3) further qualifies what conduct will be deemed discriminatory. Section 9 also ensures that every person's right to privacy is protected except where the person has given consent to have their right violated. Notwithstanding, the same Constitution permits limitations to the full enjoyment of these fundamental rights and freedoms on matters of public interest, public morality or for protecting the interests and rights of others. However, limitations in order to pass the constitutional scrutiny, must take place in terms of the authority of the law and have to be reasonably justifiable in a democratic society. Criminalisation of same sex conduct which is provided for under the Penal Code is a prima facie violation of the above constitutional provisions, which is, as it will be argued here, not capable of justification. The Penal Code violates section 3 of the Constitution, which aims at promoting equality of all citizens. It does so by criminalising certain sexual conducts committed by a certain group of persons (those involved in same-sex relationships), and not extending the same treatment to heterosexuals−thereby creating a discriminatory act. A prima facie violation of the right to privacy under section 9 is also established by this criminalisation. It will be argued that permitting the law to traverse into the sexual life of grown up people and regulate their sexual behavior, is not only a violation of their privacy but also dignity. Prescribing who people should fall in love with and who they should engage in sexual conduct with, violates individual autonomy―freedom of choice, which freedom should be inherent in every individual. Section 15 of the Constitution is also violated in the sense that, although its objective is to eradicate any form of discrimination, permitting discrimination on the basis of sexual orientation through criminalising same sex sexual conduct between consenting adults, defeats the very purpose that the provision is aimed at achieving. This paper acknowledges the existence of the rights to religious beliefs and practices as well as the culture and morals of the majority in Botswana. Notwithstanding, it will be argued that, taking these rights into consideration, it still does not justify the violations that the Penal Code establishes through criminalisation. This paper will recommend that, because courts are vested with the powers to declare any law or policy which it finds unconstitutional, they should thus declare those provisions of the Penal Code null and void to the extent of their unconstitutionality.