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ALN

Kenya Removes 30% Local Shareholding Requirement in ICT Sector

On 22 August 2023, the Ministry of Information, Communications, and the Digital Economy published in the Kenya Gazette an amendment to the National Information Communications and Technology Policy Guidelines, 2020 (the 2020 ICT Policy) which required companies to ha..

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Kaplan & Stratton

Competition Authority penalises firms for cartel conduct

On Wednesday, 23 August 2023, the Competition Authority of Kenya (the Authority) announced its verdict, imposing sanctions and penalties on nine (9) steel manufacturers for engaging in the practice of price fixing and output restriction. The penalty, amounting to KES 338,..

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Bowmans

South Africa: Amendments to the Companies Act

The long-awaited amendments to the Companies Act have made their way into Parliament and will likely be promulgated imminently.

 

The amendment Bills are largely similar to previous drafts. The most material changes simply add clarity or relax require..

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Udo Udoma & Belo-Osagie

FIRS announces effective date for Finance Act 2023

In a recent update, the Federal Inland Revenue Service (“FIRS”) officially communicated the revised effective date for the implementation of the Finance Act 2023 ( “the Act”). This update by the FIRS follows the deferment of the commencement of the Act by the Finance Act ..

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Afriwise

Unlocking the World of FinTech: A Glossary for Corporate Lawyers

In this comprehensive glossary, we demystify the jargon, acronyms, and concepts that define the fintech universe.

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Fluxmans

Companies Second Amendment Bill: DTIC moves on Zondo recommendations

On 14 August 2023 a notice was published in the Government Gazette to introduce two Amendment Bills to the Companies Act.

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Venture Law

Finance (Miscellaneous Provisions) Act 2023

Following the presentation of the National Budget for Mauritius for the financial year 2023-2024, the Finance (Miscellaneous Provisions) Act 2023 was enacted on 20th July 2023 to translate some of the proposed measures into law. 

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Kaplan & Stratton

Government abolishes 30% local shareholding requirement for ICT sector

Kenya’s ICT sector is set to receive a major boost  following the recent removal of mandatory local shareholding requirements by the Cabinet Secretary for Information, Communications, and Digital  Economy. The move is aimed at enhancing the country's digital eco..

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Udo Udoma & Belo-Osagie

The Nigerian Electricity Act 2023: Illuminating the path towards Power Sector transformation in Nigeria

Prior to 2005, the Nigerian power sector was largely government-owned. With the enactment of the Electric Power Sector Reform Act in 2005 (“EPSRA”), this monopoly was unbundled and the sector was reformed with the privatisation of the generation and distribution segments ..

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