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ENSafrica

New resolution regime for designated institutions comes into effect

Banks and other financial institutions should take note of the new resolution framework that came into effect on 1 June 2023. These legislative changes stem from the global financial crisis and the Group of Twenty’s request that the Financial Stability Board provide a lis..

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Bentsi-Enchill, Letsa & Ankomah

Local content requirements in Ghana’s power sector

Ghana’s power sector has experienced rapid growth in the last decade. According to the Energy Commission, total electricity generation almost doubled from 11.2 GWh in 2011 to 22.1 GWh in 2021, representing an annual average growth rate of 7%. In order to sustain the growt..

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Cliffe Dekker Hofmeyr

A game changer for taxpayer confidentiality: The Constitutional Court decides in a narrow 5-4 split decision

While public interest litigation is a common occurrence in South Africa, it seldom involves the area of tax law. However, pursuant to the Constitutional Court’s judgment Arena Holdings (Pty) Ltd t/a Financial Mail and Others v South African Revenue Service and Others[2023..

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Webber Newd

Strengthening Anti-money Laundering Processes In Lesotho: Focus On Politically Exposed Persons

Money laundering poses a significant threat to the financial system of every country, including Lesotho. To combat this illicit activity, Lesotho has implemented robust anti-money laundering (AML) laws and regulations. In this article, we will explore Lesotho's AML framew..

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FB Attorneys

Collection and Processing of Personal Data Regulations Published

In a bid to ensure protection of personal data in Tanzania, on 12 May 2023, the Minister for Information, Communication and Technology (the Minister) issued the Personal Data Protection (Collection and Processing of Personal Data) Regulations vide Government Notice ..

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Herbert Smith Freehills

Competition law block exemptions published for the South African energy sector

The Minister of Trade, Industry and Competition (MTIC) on Wednesday 24 May 2023 published the Energy Users Block Exemption and Energy Supplier Block Exemption.

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Jackson, Etti & Edu

Persons with Significant Control Regulation 2022

On 23rd November 2022, The Ministry of Industry, Trade and Investment through its Minister, approved the Persons with Significant Control Regulation (''PSC Regulation''). The key objective of the regulation is to provide an effective framework and procedure for obtaining ..

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Koranteng & Koranteng

Community mining

In Ghana, gold mining has always been a profitable venture for people in areas rich with minerals. Small-Scale Mining (SSM) is a major driver of the economy, directly employing an estimated 1 million Ghanaians and supporting around 4.5 million others. SSM has accounted fo..

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Webber Wentzel

South African crypto providers now caught in licensing net

South African regulators have now defined crypto as a financial asset. But what does it mean in practice?

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