Insight type: Article

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.

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 The Electricity Act repealed the Electric Power Sector Reform Act, 2005 and enacted policies towards propelling the NESI into the post-privatisation phase while providing a framework for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.

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.

 

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. 

 

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.

In our previous alert in the Carbon Market Series, The Climate Change (Amendment) Act, we provided high level insights into the Climate Change (Amendment) Act, 2023 (the Amendment Act) which introduces and regulates the carbon markets in Kenya to stimulate the reduction of carbon emissions through voluntary contributions.

 

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.

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.