Fintech M&A in Nigeria: Key Considerations and Projections

Nigeria’s financial technology (fintech) industry has experienced unprecedented growth over the last decade, and this has transformed the country’s financial landscape. The fintech industry offers innovative solutions by facilitating financial payments, access to credits and consumer financing solutions, flexible savings, and investment products. A sizeable youth population, increased smartphone penetration, and regulatory developments have engineered a thriving fintech industry in Africa, particularly in Nigeria.

Powering Nigeria: A Recap of Developments in the Electric Power Sector

The year 2023 recorded significant legal milestones in the Nigerian Electric Supply Industry (NESI) owing to an amendment to the Constitution that allows states to establish electricity markets within the states and the enactment of the Electricity Act, 2023 (the Electricity Act or the Act). The Electricity Act repealed the Electric Power Sector Reform Act, 2005 and enacted policies towards propelling the NESI into the post-privatisation phase while providing a framework for energy transition amongst others.

When Yes means No – A Look at Kenya’s evolving Data Protection Framework

Privacy is a fundamental human right and is central to the protection of human dignity. In its simplest form, the right to privacy allows each human being to be left alone in a core that is inviolable. As we continue to celebrate Data Privacy Day, we look at key takeaways from recent decisions issued by the Office of the Data Protection Commissioner (ODPC) as data protection jurisprudence continues to evolve in Kenya.

 

Notable Intellectual Property Decisions from East Africa, in 2023

ALN Uganda reviews some of the Intellectual Property (IP) rulings/judgements from 2023 within East Africa and this list is not in any particular order. Due to increased awareness of IP rights in the region, rights owners have taken precautionary measures against infringement.  These measures include the registration of their IP and enforcement through various avenues. Where these rights have been infringed upon, owners have pursued litigation, opposition, and cancellation proceedings among others. As a ripple effect, judicial and quasi-judicial bodies are taking infringement cases and setting precedents for future cases to follow. 

 

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), which aims to play a key role in unlocking trade with the African Continental Free Trade Area. PAPSS, which hopes to achieve full Central Bank participation by year-end,  welcomed the Central Bank of Kenya in October, making it the tenth African Central Bank to join the platform. Earlier this month, during the launch of the AfCFTA’s Trade and Development Centre at Strathmore University, President William Ruto announced that Kenya had won the bid to host PAPSS.

Carbon Markets Series | The Climate Change (Amendment) Act, 2023

On 1 September 2023, the Climate Change (Amendment) Act, 2023 (the Amendment Act) was signed into law by the President of Kenya. In the following week, Kenya hosted the Inaugural Africa Climate Summit 2023, underscoring the country’s steadfast commitment to combat climate change.

Towards a Vibrant Mining Sector in Uganda: Review of the Mining and Minerals Act 2022

Uganda is a mineral rich country with vast deposits of gold, uranium, limestone, marble, graphite, iron, copper, and cobalt, among others. Whereas its mining sector once accounted for 30% of the country’s export earnings in the 1950’s and 1960’s, today the sector’s contribution is about 0.8%. This decline has been attributed to a weak legislative framework to award, protect and enforce mineral rights; a significant informal mining sector; a paucity of foreign investors; environmental degradation; and human rights abuses.

Privacy Please – Digital Age of Consent for Children – Series 6

The pervasiveness and the allure of the internet continues to hold sway and wax stronger amongst different age groups, more so with the younger generation. A huge outcome of this, is the readiness of a number of users in sharing their personal data on various platforms. One of the rising challenges amidst all this, is children’s data, studies have shown that more than 83% of children will have regular access to a smartphone in their pre- and early teens. Business organisations unknowingly sometimes are therefore exposed to processing the data of a child for several purposes, whether commercial or administrative. In view of this, it is important that the right privacy principles are adopted when dealing with child data. This instalment of ALN Nigeria’s Privacy Please series will examine the provisions relating to the protection of child data under Nigerian law and offer guidance to business organisations.

Privacy Please – Indirect Collection of Data

Business organisations often find themselves in situations where they may need to collect personal data beyond that of a data subject. A common example is where a data subject is filling out a form and an employer requires the data subject to provide the name, phone number, address, and other contact details of their next of kin for emergency purposes or payment of certain benefits. The effect of this is that the employer now has personal data belonging to an employee’s next of kin without having collected it directly from the next of kin. The collection of the data of the next of kin is deemed as an indirect collection of personal data. Ideally, when processing personal data, it must be clear to the data subject that personal data concerning them are collected, used, consulted, or otherwise processed, and to what extent the personal data will be, processed.