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.
Insight type: Legal Alert
NDPC Releases a Guidance Notice on Filing of Compliance Audit Returns
The Nigeria Data Protection Commission (NDPC) has recently published a Guidance Notice on the filing of Data Protection Compliance Audit Returns (CAR). In view of the new cycle of CAR filing, which will commence in 2024, the guidance notice provides Data Controllers and Data Processors with the opportunity to demonstrate accountability and also comply with one of the compliance metrics required to be included on the National Data Protection Programme (NaDPAP) Whitelist.
Uganda’s Court of Appeal Upholds Employers’ Right to Terminate Employees with Notice or Payment
The Court of Appeal of Uganda (the Court) has reaffirmed an employer’s unrestricted right to terminate the employment relationship by providing notice or payment in lieu of notice. Bwogi Kalibbala of M/s MMAKS Advocates represented Stanbic Bank (Uganda) Limited (the Bank) in this matter.
New Provisions Anticipated to Enhance Access to Notarial Services under Notaries Public Act, 2023
A Notary Public in Nigeria is authorised to carry out certain official acts including attesting to or certifying the authenticity of a deed or other legal documents such as birth certificates, school certificates, biodata pages of international passports, marriage certificates, etc. He also carries out the functions of administering oaths and witnessing the execution of local and international agreements. As these acts are undertaken in official capacity, they are recognised internationally as a means of deterring fraud.
NCC Releases Conditions for Offering Closed User Group Services
The Nigerian Communications Commission (NCC) has released a new set of conditions for telecom operators offering Closed User Group (CUG Services in the country. CUG services are a type of telecom service that allow mobile subscribers to send text messages or make and receive calls from any member associated within the group or other subscribers outside the CUG at a subsidised, discounted or fixed fee. The CUG configuration provides certain benefits and limits access to these services to the defined set of group members.
Mandatory Registration for Issuance of Debt Securities
Notable changes have been brought to the Securities (Preferential Offer) Rules 2017 (the Rules) by the Financial Services Commission (FSC), published on 16 October 2023 that you should be aware of.
Carbon Markets Series | Commentary of the Climate Change (Amendment) Act, 2023
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.
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.
Kenya Removes 30% Local Shareholding Requirement in ICT Sector
The Kenyan Government has recently done away with the local shareholding requirement in the ICT sector that has been in place for over ten years. It is expected that this move will encourage the ease of doing business in the ICT sector and attract more foreign investment into the sector.