Insight type: Legal Alert

In today’s fast-paced business environment, investors and executives expect transactions to be executed efficiently without compromising quality – be that acquiring a company, securing financing, or closing a commercial transaction. However, in Tanzania, the choice between electronic and wet ink signatures can be one of the key factors impacting whether a deal moves forward smoothly or faces unexpected delays.

In a significant move toward national regulation of ride-hailing and digital taxi services in Nigeria, a bill titled “A Bill for an Act to Regulate the Operation of Ride Hailing and Smart Mobility Services in Nigeria by Establishing Licensing Requirements, Safety Standards, Fare Regulations, and Consumer Protections to Ensure the Efficient Operation of Digital Taxi Services in the Country and for Related Matters” (the Bill) has been proposed to the Senate and has passed its first reading.

The Court of Appeal of Tanzania has held that withholding tax (WHT) is due upon the accrual of interest not its actual payment—in the case of Commissioner General, Tanzania Revenue Authority (TRA) v. Vodacom Tanzania PLC, Civil Appeal No. 485 of 2023.

After nearly a year of anticipation, the Bank of Tanzania (BoT) has officially released the Bank of Tanzania (Use of Foreign Currencies) Regulations, 2025 on 28 March 2025 (the Regulations). These long-awaited regulations reaffirm the Tanzanian Shilling (TZS) as the primary currency for all transactions within Tanzania, while also setting out specific exceptions where foreign currencies may still be used.

The recently enacted Investments and Securities Act 2024 (ISA 2024 or the Act) marks a significant milestone in Nigeria’s financial regulatory landscape. As the backbone of the country’s capital markets regulatory framework, the Act introduces several key reforms aimed at enhancing regulatory oversight, bolstering investor confidence, and aligning Nigeria’s securities laws with global best practices.

On 21 March 2025, the Court of Appeal (CoA) overturned a decision of the High Court which had been issued on 29 November 2018 and had held that Paragraph 8 of Part II of the First Schedule to the Value Added Tax Act (the VAT Act) exempts the sale of commercial premises from value added tax (VAT).

Foreign employees transferred to Rwanda may continue contributing to their home country’s pension scheme for up to 12 months. During this period, they are exempt from contributing to Rwanda’s pension system. After the 12 month exemption, foreign employees must register with and contribute to the Rwandan pension scheme, in compliance with national regulations.

The Federal Inland Revenue Service (the FIRS) on 27 November 2024 issued an information circular publishing the Guidelines on Advance Pricing Agreements (the APA Guidelines or the Guidelines) with an effective date of 1 January 2025. The APA Guidelines aim to guide taxpayers, tax practitioners, and the public on the procedure and conditions for negotiating and executing Advance Pricing Agreements (APAs) in Nigeria and the administration of executed APAs.

The gaming sector in Nigeria is undergoing a rapid evolution, marked by contentious sectoral laws and a pressing need for regulatory and legal stability. A significant development was the Supreme Court nullifying the National Lottery Act 2005 in November 2024. The nullification followed a suit filed in 2008 by Lagos state and other states of the Federation, challenging the National Assembly’s powers to legislate on lottery activities. See our publication in respect this ruling here.