Africa: Finance and Banking

The Central Bank of Nigeria ("CBN"), being the country's apex bank and the regulator of the banking sector, has as one of its key objectives to promote a sound financial system.

Following the 2007 – 2009 financial crisis, it became evident globally that there were weaknesses in the financial regulation of commercial banks, specifically in relation to the liquidity...

In 2024, the Nigerian banking and finance sector experienced significant regulatory changes driven by the Central Bank of Nigeria ("CBN").

The Companies Act 71 of 2008 (the Companies Act) has brought about a unique change in business methods.

ENS acted on behalf of Investec Bank Limited in an application for summary judgment against a defendant where the defendant had stood surety for the debts of certain companies.

With the introduction of business rescue by the new Companies Act (which came into effect on 1 May this year), a company director is obligated to either pass a resolution for business rescue or for liquidation, as soon as he or she becomes aware that the company is trading in a financially distressed situation or notify all stakeholders of the basis for not doing so.

A review of the treatment in Mauritius, the United States and the European Union of the offence of insider trading confirms the contrasting approaches which these jurisdictions have adopted on the issue...

The Mastercard Foundation study on Africa as a jurisdiction for domiciling investment vehicles, analysed 13 African countries and found that 60% of Africa-focused...

In April 2025, the Nigerian Securities and Exchange Commission ("SEC") introduced material amendments to its private equity regulations.

The South African Reserve Bank Amendment Bill of 2018 (the "SARB Amendment Bill") has again become the subject of a vigorous debate following the public hearing held by Parliament of South Africa on 2 July 2025.

On March 20, 2025, the Nigeria Data Protection Commission ("NDPC") released the General Application and Implementation Directive 2025 ("GAID"), superseding the Nigeria Data Protection Regulation (NDPR) 2019.

On 25 March 2025, President Bola Ahmed Tinubu signed into law, the Investment and Securities Act, 2025 (the "ISA 2025"), repealing the earlier Investment and Securities Act, 2007 (the "ISA 2007")...