Checklist: structuring a commodity purchase from an African state-owned enterprise

Verify that the seller has the authority to market the production and that the award procedures — tender, direct contract — are documented.
Ensure that the price and terms correspond to market benchmarks and document the justification for any premium or discount.
Identify the intermediaries and agents involved in the transaction, the reality of their services and their remuneration.
Check the destination of payments — official accounts of the state-owned enterprise or of the Treasury — and refuse any payment to third-party accounts.
Examine the links between the managers of the state-owned enterprise and politically exposed persons, and the risks of corruption.
Verify the transaction’s compliance with sanctions regimes, with due diligence obligations concerning minerals and child labour, and with transparency commitments.
Provide for the publication of the payments made, in accordance with the requirements of the Extractive Industries Transparency Initiative where they apply.

For general information only. This article does not constitute legal or tax advice, does not replace advice on an individual case and creates no lawyer-client relationship. It reflects the legal position as of September 2025.

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Dr Alexander Ressos, TEP

Rechtsanwalt/Attorney-at-Law

I am a Swiss attorney-at-law and also admitted as a solicitor in Hong Kong and in England & Wales, with almost 25 years of experience.

Together with my multilingual team, including Chinese, Japanese, Korean, Russian, Ukrainian and French native speakers, I advise companies and their owners from around the world on the full range of banking, corporate, commercial and tax law matters in Switzerland, including international tax planning, fiduciary services, and legal family office services including immigration & relocation or real estate investments. My practice has a particular focus on clients from growth and frontier markets in Greater China, Central Asia and the Caucasus, the rest of Asia, the Middle East, Africa and Latin America, and I equally advise clients from Europe and North America. Through an affiliated Swiss trust company, we also take care of the incorporation and ongoing administration of their companies and other structures, including accounting, tax returns and corporate secretarial services, and I serve as a professional director where required. With the support of a network of first-class cooperation partners, I also implement solutions worldwide.

My approach is to act as a trusted advisor who works directly with decision-makers, on an equal footing: I start from what you want to achieve and shape every structure, contract and tax decision around your commercial goals and how it improves your after-tax return. As “lawyers who make it happen”, my team and I stay involved until your company is set up, your structure is in place and your transaction has closed, and we remain available for any follow-on work that may be required. You benefit from bespoke solutions and personal attention, and sound, friendly and practical advice. We are not the lowest-cost provider in the market, nor do we intend to be; our aim is to deliver well-founded, proper solutions and excellent value for money.

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