Never miss a beat on Africa's legal and regulatory landscape.
With the entry into force on 8 March 2024 of the New Regulation on the Registration of Legal Entities, recently approved by Decree-Law no. 1/2024, of 8 March, all companies, consortia, representations of national or foreign entities must, within 90 days from 8 March 2024,..
On 29 February 2024, the Minister for Constitutional and Legal Affairs issued procedures for submission of information of Beneficial Ownership vide the Trustees’ Incorporation (Transparency of Beneficial Ownership) Rules 2024, GN No. 139A of 2024. These Rules impose manda..
The Financial Reporting Council of Nigeria recently released an exposure draft of the Nigerian Not-For-Profit Governance Code, 2023 and called for input from the public on the proposed Code. The proposed Code is the outcome of deliberations of the Technical Working Group ..
The Cabinet Secretary for the National Treasury and Planning recently gazetted the Capital Markets (Alternative Investment Funds) Regulations, 2023, which took effect on 15 December 2023. These new regulations are an off-shoot of the Capital Markets (Collective Investment..
A second customer notice from the CIPC reminds companies to file the required beneficial ownership and beneficial interest information and notes that enforcement action may be taken against continuously non-compliant companies. On 6 February 2024, the Companies and Intell..
Kenya’s Statute Law (Miscellaneous Amendments) Act, 2019, made amendments to the Companies Act, 2015, by introducing Section 93A which requires every company registered in Kenya to keep a register of its beneficial owners and file a copy with the Registrar of Companies wi..
The Anti-Money Laundering and Combating Terrorism Financing Laws (Amendment) Act of was assented to on 1 September 2023 and came into effect on 15 September 2023. The Amended Act requires foreigners to have either a local director or a company secretary when incorporating..
On 1 April 2023, amendments to the Companies Act 71 of 2008 (the Companies Act) came into effect. One of the key amendments is in respect of s 56, which deals with beneficial interest and ownership in shares. Previously, s 56 of the Companies Act allowed for a company’s s..
Following the hearing of public comment on the proposed amendments to the Companies Amendment Bills published in September, revised drafts of the Bills have now been sent to the National Counsel of Provinces.
