Expanding Horizons, New Legal Framework for MSMEs in Mozambique & More on What Financial Institutions Should Know About the Nigerian STR Guidelines
Afriwise Insights
Expanding Horizons: Afriwise Now Covers 19 Francophone African Countries!
We’re proud to announce a groundbreaking milestone in our journey to transform legal research across Africa. With the addition of 19 Francophone countries, Afriwise now provides the largest legal coverage on the continent!
What This Means for You:
?? Bilingual Access: Fully consolidated laws in French & English.
?? Up-to-Date: Weekly updates keep you ahead of the curve.
?? Simplified Research: Advanced search capabilities through a single intuitive interface.
Want to be the first to access these new locations? Reach out to an Afriwise expert today.
Selected Articles
Nigeria - Famsville
Compliance Imperatives: What Financial Institutions Should Know About the Nigerian Financial Unit Suspicious Transaction Reporting Guidelines
On 13 December 2024, the Nigerian Financial Intelligence Unit (the “NFIU”) issued the Guidelines for the Identification, Verification and Reporting of Suspicious Transactions Related to Money Laundering, Financing of Terrorism, and Proliferation of Weapons of Mass Destruction (“ML/FT/PF”) for Financial Institutions (the “STR Guidelines”). These Guidelines are a significant development aimed at enhancing the control measures put in place by financial institutions by requiring these institutions to generate and file adequate Suspicious Transaction Reports (“STRs”). Transactions are deemed “suspicious” when they involve frequencies which are unjustifiable or unreasonable, surrounded by conditions of unusual or unjustified complexity, lack economic justification or lawful objectives, are inconsistent with the known transaction pattern of the relevant account, or in the opinion of the reporting institution, involves the proceeds derived from criminal activities, money laundering or terrorist financing? This article examines the key provisions of the STR Guidelines and its impact on the operations of financial institutions. Continue reading
Mozambique - JLA Advogados
New Legal Framework to Promote and Protect MSMEs
Law 07/2024 of 06 June was recently published, approving the legal framework for Micro, Small and Medium-sized Enterprises. According to its preamble, the new law aims to ensure greater promotion and protection of this important business segment, as well as to promote its certification, in order to generate employment and competitiveness in the national economy. Continue reading
South Africa - CMS
Compliance Alert: Beneficial Ownership Filings and Securities Registers
On 10 January 2025, the Companies and Intellectual Property Commission (“CIPC”) issued a?notice?along with a list of non-compliant entities urging them to submit their beneficial ownership declarations and securities registers by 21 January 2025, failure of which will result in the non-compliant entity being prohibited from transacting with the CIPC. Non-compliant entities will receive compliance notices from the CIPC and may be subjected to administrative fines or ultimately the deregistration of the company. Continue reading
Political and Economic Events
by Africa Risk Consulting (ARC)
Kenya
President?William Ruto?and?United Arab Emirates (UAE)?president?Sheikh Mohamed bin Zayed Al Nahyan?sign a?Comprehensive Economic Partnership Agreement (CEPA)?making the UAE the second largest importer of Kenyan goods after?China.
Uganda
State House Investors Protection Unit (SHIPU)?head Colonel?Edith Nakalema?announces aims to attract?Indian?investment to correct the imbalance in trade between the nations after meeting members of the?Indian Business Forum.
Egypt
Industry and transport minister?Kamel El-Wazir?witnesses the signing of a 25-year joint venture between?Egyptian National Railways Authority (ENRA)?and?Italy-headquartered?Salcef?for the renewal of train lines in Egypt.
Coming Soon
On the Horizon: A 2025 African GC Perspective
Afriwise and ACGC (African Corporate and Government Counsel Forum) have been hard at work on a groundbreaking research initiative exploring the challenges, disruptors, and opportunities shaping the future of General Counsels (GCs) and in-house legal teams across Africa.
This report will reveal unique insights, highlight key trends, and provide an African perspective on the evolving legal landscape—designed to empower legal professionals navigating this dynamic environment.
Stay tuned as we unveil findings that will define the future of legal practice for GCs across the continent.
The African GC Summit & Retreat
Join the Conversation to Address Key Legal Challenges in Africa
Afriwise is the Premium Intelligence Partner for the African GC Summit & Retreat happening in Cape Town on 10 & 11 February 2025. This 2-day event will bring together GCs and senior leaders to explore the key challenges and opportunities shaping the legal industry across Africa. With interactive panels, engaging keynote sessions, and immersive networking activities—including wine tasting, food pairing, and more—it’s an experience you won’t want to miss!
We look forward to seeing you there—and continuing our mission to empower businesses with cutting-edge legal and regulatory intelligence.
*This event is now sold out | Law Ninjas GRM Events Ltd