Report Coverage
This report covers legal services and activities in South Africa including knowledge management. It includes statistics on law firms and legal services professionals, information on the size and state of the industry, trends, regulation and influencing factors. There are profiles of 28 companies including major firms such as Bowmans, Werksmans, Webber Wentzel, Cliffe Dekker Hofmeyr, ENSafrica and Norton Rose Fulbright and other notable players such as Spoor & Fisher and Adams & Adams.
Introduction
• The legal activities and services sector in South Africa has partly recovered from the pandemic, as is evident in the decline in firm closures between January and August 2022.
• But growth in the sector may have begun to stagnate as the number of new firm openings and newly admitted advocates and attorneys has declined.
• The adoption of new technology to reduce costs and streamline procedures will likely propel competition.
• Operating costs are set to increase and with the expected regulation of legal fees, and pressure is growing to transform the legal profession with a legal sector code underway.
• There are concerns over abusive practices in the profession and over whether corruption has infiltrated the sector.
Strengths
• Client base of large South African and international companies.
• Low formal barriers to entry beyond educational requirements.
• Steady growth in number of professionals and a large pool of legal graduates.
• Strong regulatory bodies and a relatively independent judiciary.
• Well established and respected firms and professionals with expertise in South Africa and regional Africa.
Weaknesses
• Oversupply of legal graduates and concerns regarding legal education and development of future technology skills.
• The legal sector is increasingly mature, particularly in the lucrative areas of corporate and commercial law.
• Traditional law firms, due to their hierarchical structure, are somewhat resistant to rapid, technology-driven, change.
• Widely perceived by state and statutory bodies to be transforming slowly.
Opportunities
• Client demand for value-oriented holistic advisory services, including knowledge management.
• Demand for legal services expected to be driven by compliance and advisory services due to new legislation and a changing regulatory framework.
• Effective knowledge management, underwritten by emerging technology, to promote innovation and informed decision making to secure a competitive advantage.
• Increasing demand for legal services across Africa, driven by economic, population, and foreign investment growth.
• Legal business process innovation: outsourcing, flexible service delivery, and technology driven efficiency.
• Many countries in Africa have relatively low per capita lawyer rates.
• The demand for forensic probes into corruption in the private and public sector and assistance with forensic and compliance advice.
Threats
• An increase in operating costs such as indemnity fees and cover for cyber theft.
• Failure to innovate in the face of disruptive technologies and operating models may leave some traditional firms behind.
• Increasing automation of the legal process may lead to falling demand for junior professionals.
• Potential regulation of maximum legal fees under the Legal Practice Act.
• Potential regulation of medico-legal claims which may result in a cap in compensation payments by the state in medical negligence cases.
• The slowing economy, which has resulted in the number of M&A deals in South Africa remaining unchanged in 2021 over 2020. The number of new firm openings has slowed recently.
Outlook
• The slowing economy is expected to affect the sector and there are signs it may already be stagnating.
• Deal activity, from which the sector derives a significant share of its revenue, is expected to remain unchanged in 2022.
• This trend could continue into 2023 given the current geopolitical and financial headwinds.
• Operating costs are set to rise with the expected regulation of legal fees.
• To mitigate costs and streamline procedures, the sector is set to continue to adopt legal technology.
• Pressure is growing to transform the legal profession with the publication of the Legal Sector Code.
Legal Services and Activities in South Africa
2022
Full Report
R 9 500.00(ZAR) estimated $499.62 (USD)*
Industry Landscape
R 6 650.00(ZAR) estimated $ 349.73 (USD)*
Historical Reports
Legal Services and Activities in South Africa 2021-02-25
R 1 900.00(ZAR) estimated $99.92 (USD)*
View Report Add to CartLegal Services and Activities in South Africa 2019-06-10
R 1 900.00(ZAR) estimated $99.92 (USD)*
View Report Add to CartLegal Services and Activities in South Africa 2017-04-10
R 1 900.00(ZAR) estimated $99.92 (USD)*
View Report Add to CartLegal Services and Activities in South Africa 2016-01-18
R 1 900.00(ZAR) estimated $99.92 (USD)*
View Report Add to CartTable of Contents
[ Close ]| PAGE | ||
|---|---|---|
| 1. | INTRODUCTION | 1 |
| 2. | DESCRIPTION OF THE INDUSTRY | 1 |
| 2.1. | Industry Value Chain | 4 |
| 2.2. | Geographic Position | 5 |
| 2.3. | Size of the Industry | 8 |
| 2.4. | Key Success Factors and Pain Points | 13 |
| 3. | LOCAL | 14 |
| 3.1. | State of the Industry | 14 |
| 3.2. | Key Trends | 17 |
| 3.3. | Notable Players | 30 |
| 3.4. | Corporate Actions | 30 |
| 3.5. | Regulations | 31 |
| 3.6. | Enterprise Development and Social Economic Development | 36 |
| 4. | AFRICA | 38 |
| 5. | INTERNATIONAL | 42 |
| 6. | INFLUENCING FACTORS | 45 |
| 6.1. | COVID-19 | 45 |
| 6.2. | Economic Environment | 47 |
| 6.3. | Labour | 47 |
| 6.4. | Environmental Issues | 49 |
| 6.5. | Technology, Research and Development (R&D) and Innovation | 50 |
| 6.6. | Input Costs | 52 |
| 7. | COMPETITIVE ENVIRONMENT | 55 |
| 7.1. | Competition | 55 |
| 7.2. | Ownership Structure of the Industry | 56 |
| 7.3. | Barriers to Entry | 57 |
| 8. | SWOT ANALYSIS | 58 |
| 9. | OUTLOOK | 59 |
| 10. | INDUSTRY ASSOCIATIONS | 60 |
| 11. | REFERENCES | 60 |
| 11.1. | Publications | 60 |
| 11.2. | Websites | 61 |
| APPENDIX 1 | 63 | |
| Summary of Notable Players | 63 | |
| COMPANY PROFILES | 65 | |
| Adams & Adams | 65 | |
| Allen and Overy (South Africa) Inc | 70 | |
| Baker and McKenzie Inc | 72 | |
| Bell Dewar Inc | 74 | |
| Bowman Gilfillan Inc | 77 | |
| Cliffe Dekker Hofmeyr Inc | 85 | |
| Cox Yeats Attorneys | 91 | |
| D M Kisch Inc | 94 | |
| Daly Maqubela Oliphant Inc | 97 | |
| Edward Nathan Sonnenbergs Inc | 100 | |
| Fairbridge Arderne and Lawton Inc | 113 | |
| Fluxmans Inc | 116 | |
| Garlicke and Bousfield Inc | 119 | |
| Gildenhuys Malatji Inc | 121 | |
| Goldberg and de Villiers Inc | 124 | |
| Hahn and Hahn Inc | 128 | |
| Knowles Husain Lindsay Inc | 130 | |
| Lawtons Inc | 133 | |
| Livingston Leandy Inc | 135 | |
| Norton Rose Fulbright South Africa Inc | 138 | |
| Shepstone & Wylie Attorneys | 145 | |
| Smith Tabata Buchanan Boyes Inc | 149 | |
| Spoor and Fisher Partners | 153 | |
| Stowell and Co Inc | 157 | |
| Von Seidels Intellectual Property Attorneys | 159 | |
| Webber Wentzel | 161 | |
| Werksmans Inc | 169 | |
| Werthschroder Inc | 175 |
