Analysing Africa’s Top 50
With the release of the 2023 Africa Top 50 stats, Africa Legal is primed to release a detailed report on the trends and predictions gleaned from analysing four years’ worth of data on headcount, market perception, gender diversity and – new for 2023 – trainee intake and retention.
The Africa Top 50 was launched in 2020 through an analysis of firm-supplied headcount data for their fee-earning lawyers across the 2019 calendar year. The original objective, a partnership between Africa Legal and Law.Com International, was to deliver a single source of reliable data on the true size of the cream of Africa’s legal sector.
Since 2020 we have continued to source more data and insights from our law firm partners. Africa Legal’s team has now closely analysed four years’ worth of this data, and next week we will release a detailed report on the trends, urging a thorough perusal for a nuanced understanding of the landscape.
In the meantime here’s a sneak peek of the highlights of the report.
The headcount of legal professionals in the Top 50 African law firms remained largely dominated by the powerhouse region of South Africa, with firms like ENS, Webber Wentzel and Bowmans consistently occupying leading positions. Simultaneously, there was a noticeable growth in headcount within international law firms operating in Africa, signifying the continent's increasing attractiveness as a hub for global legal operations. While South Africa demonstrated dominance in sheer numbers, Nigeria's representation among the Top 10 firms, with entities like Aluko & Oyebode and Olaniwun Ajayi LP, underscores its significant role in the continent's legal framework.
A discernible trend throughout this period was the approach towards promotions and lateral hiring. While the promotion of lawyers to partnership roles indicated an organic growth strategy, the rise in pursuit of lateral hiring as a key growth strategy, rebounding from 18% in 2021 to 43% in 2023, highlights the industry's inclination towards capitalising on experienced external talent.
A positive trajectory in gender diversity was evident. By 2022, female representation in partnerships within the Top 50 firms had increased to an average of 36.38%, a progression from 35.26% the previous year. Standout performers in this domain, like Fátima Freitas & Associados and Shepstone & Wylie Attorneys, illuminated the path towards greater gender inclusivity in legal leadership roles.
A noteworthy addition to the 2023 report is the “Development Score” which accounts for total trainee intake, growth in this intake 2019 - 2022 and rentention of trainees as fully fledged fee-earners with their firms. With Olaniwun Ajayi LP, ALN and Herbert Smith Freehills leading the pack, there’s a clear emphasis on encouraging the comprehensive growth of budding legal minds.
As the report will show, the years between 2020 and 2023 marked a period of significant flux in headcount trends within Africa's legal realm. From regional dominances to gender inclusivity and the focus on emerging talent, these dynamics provide a window into the African legal industry's future trajectory.
To have a look at the full 2023 Africa Top 50 click here.
Look out for Africa Legal’s detailed report next week.
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