Africa Connected: Trends in financial services

Issue 2

Africa Connected

Trends in the financial services sector is the theme of this edition of Africa Connected, our regular collection of in-depth articles on doing business in Africa.

We have Africa-wide articles on fintech, the liberalization of financial services and mobile money access; and jurisdiction specific pieces on Morocco, Mauritius, Namibia, South Africa, Zimbabwe, among others.

Please send us your feedback on Africa Connected, including topics you'd like to see covered in future editions.

In this issue

  • Fintech as the driver for growth in Africa’s banking sector
    17 April 2019

    According to the 2017 Global Findex Database, about 1.7 billion adults remain unbanked, and nearly half of those live in just seven developing economies, of which Nigeria is one. In 2014, it was reported that Sub-Saharan Africa, with about 350 million unbanked adults, accounts for 17 percent of the global unbanked population.

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  • The liberalization of Financial Services in Africa
    17 April 2019

    How the free trade of services envisioned in the African Continental Free Trade Area Agreement can promote financial development and stability in Africa.

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  • Morocco's Crowdfunding Bill
    17 April 2019

    Crowdfunding is a generic term referring to the raising of funds from a large number of individuals or entities to finance a project, through an online platform. The main purpose of this model is to support entrepreneurship, the digital and cultural economy, as well as social and humanitarian projects.

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  • Mauritius: Africa's fintech hub
    17 April 2019

    Mauritius, the tropical island of 2,040 square kilometers with a population of 1.3 million people, has for over a quarter of a century been the preferred route for foreign direct investment flows to India. 

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  • Green Bonds: Unlocking sustainable investment opportunities in Namibia
    17 April 2019

    Climate change is affecting all of us, but it is expected to hit developing countries the hardest. Climate change is, however – aside from its possible devastating effects – increasingly viewed as a gateway to new business opportunities, opening many profitable ways for investors to help protect the planet. One such way is through Green Bonds.

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  • Mobile money in Africa: Access, regulations and risks
    17 April 2019

    This article discusses how mobile money in Africa has opened access to the previously unbanked, and looks at the role regulators are playing to mitigate the money laundering risks associated with mobile money.

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  • South African data protection law and third-party processors
    17 April 2019

    The EU General Data Protection Regulation (GDPR) and South Africa’s Protection of Personal Information Act 2013 (POPIA) regulate the protection of data subjects’ personal information. Some provisions of POPIA are already in force, and the rest are expected to come into effect over the course of this year. Though there will be a one-year grace period after the new legislation comes into effect in its entirety, businesses are advised to start complying with the provisions of POPIA as soon as possible.

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  • The inadvertent rise of digital transactions in Zimbabwe
    17 April 2019

    This article will trace the history of currency use in Zimbabwe, tracking Zimbabwe’s movement from relative monetary stabilization following independence, to its crippling hyperinflation, abandonment of the Zimbabwean dollar, adoption of a multi-currency system and ultimately how the evolution of the currency regime has led to the rise of fintech methods of transacting on the back of a cashless society’s desperate need to adapt to debilitating shortages of cash in the economy.

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  • Foreign investment and forex regulation in Ethiopia
    17 April 2019

    In Ethiopia, as in most other jurisdictions, one of the major issues for foreign investors is access to foreign exchange (forex). Because of the country’s negative trade balance, the availability of forex is highly restricted by laws and strictly regulated by the central bank, the National Bank of Ethiopia (NBE).

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  • Immigration law and practice in the African oil and gas industry
    17 April 2019

    A global economy requires multinationals to adopt a global business strategy, which invariably involves the need to transfer a firm’s most important asset – its people – in a fluid way across national borders.

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