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

Andersen

CBN Withdraws Circular on the Collection and Remittance of National Cybersecurity Levy

The Central Bank of Nigeria on 17 May 2024 issued a circular withdrawing its earlier circular dated 6 May 2024 which mandated all banks, mobile money operators, and payment service providers to implement a cybersecurity levy in accordance with the relevant provisions of t..

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Templars

Central Bank of Nigeria (CBN) New Minimum Capital Requirements for Banks

On 28 March 2024, the Central Bank of Nigeria revised the minimum capital requirements for banks aimed at strengthening the Nigerian financial system and actualizing the Nigerian Government’s objective to achieve a US$1 trillion economy in gross domestic product terms by ..

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GDA Advocates

Regime for the liberalization of capital operations and other foreign exchange operations

On 21 March 2024, the Bank of Mozambique published Notice No. 4/GBM/2024 in the Official Gazette. This notice establishes the regime for the liberalization of capital operations and other foreign exchange operations in Mozambique. It applies to all parties involved in for..

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FB Attorneys

Trustees’ Beneficial Ownership Rules Issued

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..

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Webber Wentzel

The Competition Commission publishes revised Public Interest Guidelines

On 20 March 2024, the Competition Commission of South Africa published revised Public Interest Guidelines relating to merger control. The Revised Guidelines follow the Draft Public Interest Guidelines, which were published for public comment in October 2023. Although the ..

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OneLegal

Angola: Money Laundering, Terrorism Financing and Proliferation of Weapons of Mass Destruction

By way of Order 2/24, of 22 March 2024, the Angolan Central Bank (BNA) adopted the regulations for implementation of Law 5/20, of 27 January 2020, on the Prevention and Combating of Money Laundering, Terrorist Financing and Proliferation of Weapons of Mass Destruction app..

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Templars

SEC Proposes New Amendments to its Rules on Issuance, Offering Platforms and Custody of Digital Assets

In the wake of the recent regulatory developments in the Nigerian market, the Securities and Exchange Commission  on 15 March 2024 published its proposed amendments to the existing SEC rules on issuance, offering platforms and custody of digital assets dated 11 May 2..

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Sal & Caldeira Advogados

Transaction Limits Applicable to Electronic Money Institutions

Notice No. 07/GBM/2024 of 29 February 2024 establishes the transaction limits applicable to Electronic Money Institutions, which are defined by the Law on Credit Institutions and Financial Companies, as financial companies authorised to provide payment services, whose mai..

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Webber Wentzel

2024 Earnings threshold announced

The earnings threshold will increase to R254 371.67 with effect from 1 April 2024, entitling employees falling below the threshold to stricter protections in terms of labour legislation. It is the fourth consecutive annual increase to the threshold (following a period of ..

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