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Never miss a beat on Africa's legal and regulatory landscape.

Bowmans

South Africa: Corporation for Deposit Insurance launched

On 25 April 2024, the South African Reserve Bank officially launched the Corporation for Deposit Insurance (CODI), which aims to protect bank depositors and enhance the public’s confidence in South Africa’s banking system. CODI was established as a legal entity, with effe..

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Clyde & Co.

Kenyan labour laws: Current jurisprudence on the right to strike in the essential service sectors

A cursory glance at the fundamental rights and freedoms set out in the bill of rights in the Constitution of Kenya 2010 (the Constitution) may lead a person to conclude that all workers have a constitutional right to engage in a lawful strike. But is this the correct posi..

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Cliffe Dekker Hofmeyr

New legislation: The criminalisation of hate offences and the workplace

On 9 May 2024, the Presidency reported that the President assented to the Prevention and Combating of Hate Crimes and Hate Speech Bill. The purpose of the Act is to give effect to constitutionally enshrined rights, including human dignity, equality and the right to freedo..

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Bentsi-Enchill, Letsa & Ankomah

Securities and Exchange Commission Issues Guidelines to Govern the Issuance of Green Bonds

The Securities and Exchange Commission has issued the Securities Industry (Green Bonds) Guidelines, 2024 (SEC/GUI/003/03/2024) to regulate the issuance of green bonds.

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MWC Legal

The Capital Markets (Alternative Investment Funds) Regulations, 2023

Alternative Investment Funds comprised of private equity funds, hedge funds and venture capitalist funds may soon be required to obtain licensing from the Capital Markets Authority in order to pool funds from investors in Kenya and beyond for investment in the Kenyan mark..

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Pavestones

Regulation of cybercrime in Nigeria and the Cybersecurity Levy

On May 6, 2024, the Central Bank of Nigeria published a circular providing “Implementation Guidance on the Collection and Remittance of the National Cybersecurity Levy” introduced by the Cybercrime (Prohibition, Prevention, etc.) Act of 2015 and amended by the Cybercrime ..

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Appleby

The JCPC reaffirmed the exception to the bank secrecy rule

The Judicial Committee of the Privy Council has stated its reasons for granting a disclosure order in the case of Stanford Asset Holding Limited v/s Afrasia Bank Limited 2023 UKPC 35. The case concerns an application made by Stanford Asset Holding Limited for the disclosu..

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Webber Wentzel

The JSE moves forward with its market segmentation proposals

To enhance transparency, competitiveness, fairness and efficiency, the Johannesburg Stock Exchange proposes to introduce a market segmentation model for the JSE Main Board. This would create two segments: Main Board Prime and Main Board General. The Main Board General seg..

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Templars

Ghana Supreme Court Affirms Ghana as Arbitration Friendly Jurisdiction

On Wednesday, 21st February 2024, the Supreme Court of Ghana handed down a judgment in Unichem (Ghana) Limited and Anor versus Metropolis Healthcare (Mauritius) Limited and Metropolis Healthcare (Ghana) Ltd, unanimously upholding the decision of the Court of Appeal to ref..

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