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

Clyde & Co.

Prohibition of lending without a licence

In an effort to prohibit the lending of money without a licence, the Bank of Tanzania (the BoT), on 24 November 2022 published a notice (the Notice) prohibiting institutions, companies and individuals who are in the business of providing loans without a licence contrary t..

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Bowmans

Tanzania: The Banking and Financial Institutions (Financial Leasing) Regulations 2022

On 23 September 2022, the Governor of the Bank of Tanzania published the Banking and Financial Institutions (Financial Leasing) Regulations via Government Notice 575 of 2022revoking the Banking and Financial Institutions ..

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ALN

The Regulatory Framework for Fintechs in Uganda

The Parliament of Uganda passed the National Payment Systems Act (the Act) in 2020 and a year later, the National Payment Systems Regulations 2021 (the Regulations) were passed to operationalise the Act. The objective of this regime is to cont..

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Webber Wentzel

FSCA declares crypto assets a financial product

The Financial Sector Conduct Authority has published the first of what will be a series of regulations to manage crypto assets and their providers. Following its initial proposal on 20 November 2020, the Financial Se..

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Moira Mukuka Legal Practitioners

Budget 2023 | Carbon Finance: Regulation for Zambian Carbon Market in the Pipeline

Carbon trading has gained momentum in recent years with demand being driven by businesses in developed countries with high carbon emissions seeking to offset their carbon footprint through the purchase of carbon credits from voluntary ..

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ENSafrica

ESG and the rise of sustainable finance in Mauritius

As African countries grapple with the measures necessary to meet their nationally determined commitments (“NDCs”) under the Paris Agreement, it..

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Vazi Legal

The Impact of Fintech on Financial Inclusion in Nigeria

The fintech industry in Nigeria has helped to expedite financial inclusion. To this end, over 20 million new bank accounts have been opened via traditional banks and fintech companies since 2020, bringing the total banked population in Nigeria..

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AXIS

How “worthy” is “worth it"?

“Worthiness” is commonly defined as “the quality of deserving respect or attention.” In the eyes of a financial institution, onboarding or maintaining an ongoing business relationship with a high-net-worth customer is “worth it” – but is it always “worthy”? Warren Buffet ..

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MMAKS Advocates

Bank customers could be held liable for banking fraud losses

On 18 July 2022, the Ugandan High Court issued a landmark decision on the liability for loss suffered due to digital bank fraud in the case of Aida Atiku versus Centenary Rural Development Bank Limited, (the defendant/bank) Civil Suit No. 0754 of 2020.
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