Corporate M and A 2026

OHADA Trends and Developments Contributed by: Albert Dione, Stéphanie Manguele and Fatoumata Binta Maïga, Thiam & Associés

with obligations relating to local employment, training and subcontracting in procurement processes. The extractive sector illustrates a growing operation - alisation of local content policies. Some 500 contracts have reportedly been monitored through the electronic E-CNSCL platform, while approximately XOF82 billion in market share was captured by local companies in 2024. These developments demonstrate a tangible integration of domestic actors within the extractive value chain. They also suggest that, in the context of M&A transactions or strategic partnerships, local con - tent obligations, including employment, skills transfer and subcontracting, have become key elements of compliance and contractual structuring. Côte d’Ivoire In Côte d’Ivoire, Law No 2022-408 of 13 June 2022 relating to local content in the petroleum and gas sec - tor remains the principal legislative framework. Under this law, foreign companies operating in these sectors must comply with specific obligations, including local subcontracting requirements, priority employment for Ivorian nationals, quantified local content targets, and the award of contracts through open tender proce - dures for services exceeding certain thresholds. The framework also provides for lists of positions reserved for national workers. This regime, already operational in 2025, applies to exploration, production and service activities in the hydrocarbons sector. In practice, the implementation of this law is support - ed by digital platforms designed to facilitate moni - toring and compliance with local content obligations. These tools allow companies to digitalise procedures and track their commitments relating to employment, technology transfer and subcontracting. Within the context of M&A or strategic investments, such as part - nerships or asset transfers, local content clauses must therefore be integrated into due diligence processes and operational transition plans. Mali In Mali, the legal framework governing local content in the mining sector is primarily based on Law No 2023- 041 of 29 August 2023. This legislation was adopted to boost the participation of national companies and workers across the entire mining value chain, from

exploration to commercialisation. The law establishes priority for nationals in employment, subcontracting and the supply of goods and services, while also intro - ducing mechanisms for national participation in the capital of mining companies. It provides for a free car - ried interest for the State of 10%, an optional equity participation of up to 20%, and a mandatory transfer of 5% of shares to national investors, reflecting a clear policy objective of strengthening the local anchoring of mining projects. Between 2024 and 2025, no major new legal provi - sions have modified the local content regime in the mining sector. However, the Malian authorities have established an institutional monitoring mechanism through the appointment of a Permanent Secretary for Local Content responsible for coordinating and overseeing the implementation of these obligations. This institutional development aims primarily to ensure the effective enforcement of the existing framework rather than introducing additional legal requirements. As a result, M&A transactions and mining invest - ments remain largely structured around the obliga - tions established by the 2023 law. Burkina Faso In Burkina Faso, Law No 017-2024/ALT of 18 June 2024 relating to local content in the mining sector pro - vides a comprehensive framework for the integration of local content obligations. The law consolidates pro - visions relating to national employment, the promotion of local companies, subcontracting and technology transfer. It defines local content as the set of mecha - nisms aimed at strengthening national capabilities throughout the mining value chain, thereby directly influencing the structuring of local integration plans associated with M&A transactions or transfers of min - ing assets. In 2025, implementing decrees relating to employ - ment, skills development and the establishment of a Local Content Support Fund were adopted to strengthen the practical implementation of these obli - gations. These measures include provisions relating to internships, vocational training and support for domestic suppliers. For M&A or major investment projects, local content requirements thus become key

989 CHAMBERS.COM

Powered by