Is Africa the next China? The combined GDP of the continent’s 54 nations would make it the fifth-largest economy in the world, after the United States, China, Japan, and India. The continent includes seven of the world’s 10 fastest-growing economies, and average growth outpaces that of the United States and Europe.
Still, just three Am Law 200 firms—four, counting the now-defunct Dewey & LeBoeuf—have established a presence in sub-Saharan Africa: White & Case, DLA Piper, and Baker & McKenzie. “All law firms want to be first at being second,” explains Richard Tromans, a senior researcher at the U.K.–based law firm consultancy Jomati. “If you’re second, you’re going to be safe. That’s the psychology.” But most global-focused U.S. firms are already handling matters in Africa, and many are considering steps to increase their involvement, Tromans notes in Jomati’s report on Africa, published in May.
