ARTICLE
4 August 2021

Boosting African Fintech Investment

C
Conyers

Contributor

Conyers is a leading international law firm with a broad client base including FTSE 100 and Fortune 500 companies, international finance houses and asset managers. The firm advises on Bermuda, British Virgin Islands and Cayman Islands laws, from offices in those jurisdictions and in the key financial centres of Hong Kong, London and Singapore. We also provide a wide range of corporate, trust, compliance, governance and accounting and management services.
New regulations in the British Virgin Islands are transforming the offshore centre into an international fintech hub—and African companies could benefit.
British Virgin Islands Finance and Banking

New regulations in the British Virgin Islands are transforming the offshore centre into an international fintech hub—and African companies could benefit.

The global fintech industry is growing rapidly. Revenues from fintech businesses are expected to hit €188 billion by 2024—an almost 75% increase compared to 2019 levels, according to Deloitte.

Against that backdrop, international financial centres are eager to attract fintech companies to their jurisdictions. The British Virgin Islands (BVI) is no different. Last August, the BVI introduced its Financial Services (Regulatory Sandbox) Regulations to supplement the territory's recently updated Financing and Money Services Act, put in place to establish the BVI as an international hub for fintech businesses.

Read the full article on the Africa Legal website here.

This article was originally published by Africa Legal

The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.

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