242021Feb
The New Law on Credit Institutions and Financial Companies

The New Law on Credit Institutions and Financial Companies

Article by Célia Francisco of CGA Associados The new law on credit institutions and financial companies was published on 31 December 2020, and the law enters into force 90 (ninety) days after its publication, on 31 March 2021. We highlight the following aspects in relation to the new law: The licensing of credit institutions and…

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212021Jan
Crypto assets – a new financial product?

Crypto assets – a new financial product?

Written by Natalie Scott and Kyra South of Werksmans Attorneys On 20 November 2020, the Financial Sector Conduct Authority (“FSCA“) published a draft Declaration (“Draft Declaration“) and a statement in support thereof which sets out its proposal to bring crypto assets within the ambit of the definition of “financial product” in Section 1 of the Financial Advisory and…

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182020Feb
Ugandan member secures first money remittance license in Africa

Ugandan member secures first money remittance license in Africa

Katende, Ssempebwa & Co Advocates [“KATS”] has successfully advised BT Payment Services, a Fintech- digital- money remittance services provider on the licensing of its operations in Uganda by the Bank of Uganda. BT Payments Services Limited, a Ugandan financial technology company with roots in Kenya provides a secure web-based money remittance option that allows the…

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242018Apr
ESG in Private Equity: Investments that go beyond the financial impact

ESG in Private Equity: Investments that go beyond the financial impact

Tanya van Lill, CEO of SAVCA, recently addressed LEX Africa’s seminar on PE firms managing environmental, social and governance (ESG) investment considerations. “South African fund managers, traditionally, are more comfortable and au fait with incorporating ‘impact investing’ and environmental, social and governance (ESG) measures into their deals because of the fact that Financial Development Institutions…

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182018Apr
Zimbabwe holds massive potential for private equity investors

Zimbabwe holds massive potential for private equity investors

With the country’s new leadership, opportunities to upgrade infrastructure in the energy, mining and road transport sector have made Zimbabwe an attractive destination for investors. Decades-long political instability, sanctions and a failing economy have seen a massive decline in Zimbabwe’s international appeal. Even as global investors turned their attention to Africa in 2015 and 2016,…

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42018Apr
Zambia: Trade, transport and agriculture assisted through wide-ranging policy reforms

Zambia: Trade, transport and agriculture assisted through wide-ranging policy reforms

Amendments to the Companies Act, the Energy Regulatory Act, Electricity Act and the Banking and Financial Services Act will bolster investments in Zambia. Amendments to the Companies Act, the Energy Regulatory Act and the Banking and Financial Services Act will strengthen Zambia’s investment regulatory framework and bolster investments in Zambia. LEX Africa’s Zambian member Sharon…

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112017May
Comfort Letters in the Mozambican Legal System

Comfort Letters in the Mozambican Legal System

The development of trade has introduced a new atypical means of providing security currently widely used within the Mozambican legal system. Vasco Soares da Veiga defines the comfort letter as “simple solemn affirmation, undertaken by a certain company before a Bank, in which the subscriber of that letter introduces a certain client, normally an affiliate…

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