JOHANNESBURG, October 8- Allen & Overy, one of Britain’s big-five law firms, is moving into sub-Saharan Africa, opening a practice in Johannesburg later this month.
The firm said on Wednesday it hopes to have 40 lawyers based in South Africa by next year to service thriving regional banking, finance and commodities sectors.
“We are seeing increasing interest in Africa from clients across our global network – this is the key driver for our launch,” firm partner Tim Scales said.
It is Allen & Overy’s first office in sub-Saharan Africa. The company already has an office in Casablanca.
A string of major global accountancy firms and public relations consultancies have flocked to Africa’s rapidly growing economies in the last few years, snapping up local affiliates or establishing brand new offices.
But foreign investors complain that large law firms have not followed suit, making business more complex.