Never miss a beat on Africa's legal and regulatory landscape.
In this month’s legal update, we provide an overview of the new Bank of Tanzania Outsourcing Guidelines for Banks and Financial Institutions, 2021 (the Guidelines) which were published on 17 June 2021. The Guidelines apply to all outsourcing arrangements entered into by b..
The Financial Services (Crowdfunding) Rules 2021 (the ‘Rules’) came into operation on 4 September 2021 bringing a long-awaited legal framework to crowdfunding platforms in Mauritius. The Rules confirm the expected leap forward of the Mauritian financial services sector fo..
It has recently been reported about the first Sukuk bonds that were issued in Tanzania by Imaan Finance Limited. Sukuk are financial certificates which represent an undivided share in the ownership of tangible assets which are not receivables. The company sought..
Parliament recently passed the Insurance Act, 2021 (Act 1061) to replace the Insurance Act, 2006 (Act 724) and to provide for the regulation and supervision of the insurance market. Act 1061 creates three main licence categories under which ..
On the 5th day of February 2021, the Central Bank of Nigeria (“CBN”) instructed banks and other financial institutions to refrain from dealing with cryptocurrency (a digital currency) and facilitating payment for cryptocurrency exchanges. With this, various crypto-b..
There has been a lot of interest in the activities of investment technology companies (investment tech) as some of them have been utilising platforms offering securities of foreign companies to investors in Nigeria. However, these platforms have had to contend with ..
The past year has been a year of exciting initiatives for Ghana’s digital infrastructure. The Government has adopted digitization as a key policy objective and has recently introduced a number of programs designed to develop a more digitally accessible public sector..
On 9th July 2021, the Central Bank of Nigeria (CBN) released a single-document circular, setting out the framework and guidelines for the operations of Mobile Money Services in Nigeria (the Guidelines and Framework). The Guidelines and F..
The Bank of Tanzania has recently issued a public notice on the policy measures to promote credit to the private sector and lower interest rates, as part of its drive to spur..
