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

Bowmans

Mauritius: Conservatorship in banking, 17 February 2024 – Bowmans [Financial services]

The Bank of Mauritius has placed Silver Bank Ltd under conservatorship in accordance with Section 65 of the Banking Act. The last time that a bank was put under conservatorship in Mauritius was BanyanTree Bank Ltd in 2020. Of note, the conservatorship of BanyanTree Bank L..

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Duale, Ovia & Alex-Adedipe

Understanding Robo Advisory Services in Nigeria

Robo advisory services have been gaining traction over time in Nigeria with the operation of early version Robo Advisors such as PiggyVest. The growth has been attributed to Nigeria’s growing middle class and increasing smartphone penetration. According to statistics, the..

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Appleby

Fund finance laws and regulations 2024 – Mauritius

Historically low interest rates, significant dry powder, and investors’ persistent hunt for yield have propelled the growth of the fund finance market. As we look ahead, 2024 is expected to continue witnessing this impressive growth trajectory, underpinned by a surge in d..

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Clyde & Co.

Transition to Interest Rate-Based Monetary Policy in Tanzania

As of January 2024, the Bank of Tanzania (BOT) has made a significant shift in its monetary policy framework, transitioning from a focus on the quantity of money (monetary aggregates) to an interest rate-based approach.

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ENS

Note to FSPs and Start-Ups as Bank of Ghana pilots Regulatory Sandbox

The Fintech and Innovation office of the Bank of Ghana ("BoG"), in August 2022, launched a regulatory and innovation sandbox pilot (the “Regulatory Sandbox”) in response to requests for innovation in the banking and financial services sector.

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Duale, Ovia & Alex-Adedipe

CBN’s Guidelines on the Operation of Bank Accounts for Virtual Assets Service Providers in Nigeria

Amidst the festive cheer, the Central Bank of Nigeria unwrapped a special present. A game-changing Guidelines on the operation of Bank Accounts for ‘Virtual Assets Service Providers’.

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ǼLEX

CBN Lifts ‘Ban’ on Crypto Banking Transactions

In a notable development, the Central Bank of Nigeria (CBN) reversed its stance on cryptocurrency transactions on December 22nd, 2023, by issuing the “Guidelines on Operations of Bank Accounts for Virtual Assets Service Providers (VASPs).” This decision marks the cessatio..

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ALN

Revolutionising African Trade: Kenya Takes the Lead in Promoting PAPSS

As the African Continental Free Trade Agreement (AfCFTA) advances through various negotiation phases, several stakeholders have introduced operational tools to facilitate its implementation. One of these tools is the Pan-African Payment and Settlement System (PAPSS), whic..

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Clyde & Co.

The Capital Markets and Securities (Corporate and Subnational Sukuk Bonds) Regulations, 2023

The regulations aim to regulate and provide guidance for Sukuk business operations in the United Republic of Tanzania, including supervisory mechanisms, operational standards, and disclosure requirements, with the broader goal of diversifying alternative financing product..

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