Welcome to Africa’s legal blog

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


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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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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South Africa: Reference rate reform – the transition from Jibar to ZARONIA

The Market Practitioners Group (MPG) is a joint public and private sector body comprising representatives from the South African Reserve Bank (SARB), the Financial Sector Conduct Authority (FSCA), and senior professionals from a variety of institutions from different market ..
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S&L Advocates

Uganda case alert – banks have no duty to reverse online payments made by a customer

The High Court of Uganda has in Translink Limited v Standard Chartered Bank (U) Limited, High Court Civil Suit No 415 of 2019 re-examined the scope of a bank’s duty of care to its customer in the context of an online or digital transaction. The Court stated that a b..

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Regulation of Digital Money Lenders and Protection of Privacy Rights in Nigeria

Over the past few years, Digital Money Lenders have become increasingly common in Nigeria, as traditional financial institutions have more stringent requirements for providing loans to customers.

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FB Attorneys

Borrower Held Liable for Outstanding Balance on Insufficient Mortgaged Security

On 12 April 2023, the Court of Appeal (COA) reaffirmed its previous position regarding liability of the borrower who pledged a security that turned out to be insufficient at the time of realization of the property. The factual background of the case is that the bank had s..

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A Lender’s Duty of Care while exercising the Power of Sale

The Daily Nation published a newspaper article on 21st March 2023 which has elicited much concern, especially from lenders on the issue of guarantees as security for a debt, with financiers worrying that guarantors, who are supposed to be a fallback when a loan goes bad, ..

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KN Law

Application of the In Duplum Rule in Kenya

The High Court held the in duplum rule in Section 44 of the Banking Act does not apply to non-deposit taking microfinance institutions.[i] The rule limits interest accrual to equal the principal amount outstanding when a loan becomes non-performing. We a..

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Werksmans Attorneys

The South African Reserve Bank announces South Africa’s first Deposit Insurance Body

The South African Reserve Bank (SARB) announced the establishment of the Corporation for Deposit Insurance (CODI) – the first bank deposit insurance body in South Africa – in its media statement dated 3 April 2023 (Media Statement).

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