Africa: Finance and Banking

The European Commission has published a comprehensive report diagnosing the state of EU banking competitiveness and signaling the most significant policy intervention since Basel III completion. With European banks demonstrating strong capital positions but facing international competitiveness challenges due to market fragmentation and regulatory complexity, the report establishes competitiveness as a co-equal objective alongside financial stability. The gap between this July 2026 diagnosis and Q1 2027 legi

On 16th January 2026, the Securities and Exchange Commission (the “SEC”) released Circular Number 26-1 on the revision of Minimum Capital (MC) applicable to all categories of regulated capital market entities and this Circular seeks to strengthen market resilience, enhance investor protection, align capital adequacy with the evolving risk profile of market activities, and ensure that regulated entities possess sufficient financial capacity to discharge their obligations in a sustainable manner.

Nigeria's Central Bank has proposed sweeping reforms to its financial holding company framework, introducing stricter capital requirements, enhanced governance standards, and tighter controls on intra-group transactions. Will these changes strengthen the resilience of banking groups or impose excessive regulatory burdens on an already complex financial sector?

Europe's Sustainable Finance Disclosure Regulation has transformed ESG fund classification through its Article 6, 8, and 9 categories, but the recent SpaceX IPO has exposed critical ambiguities in the "good governance" requirement. With over 60% of EU funds potentially restricted from participating in the largest IPO ever due to concerns about Elon Musk's concentrated control and governance structure, the question arises: can fund managers reconcile SpaceX's unique corporate governance with SFDR's green inv

Private equity, venture capital, and private credit markets in Nigeria are evolving rapidly, with disclosed deal values surging 84% to US$810.7 million in 2025. While venture capital dominates transaction volume and value, private debt is expanding its role in working capital, acquisition finance, and infrastructure. The critical question is not whether capital can enter Nigeria at scale, but whether it can stay, perform through cycles, and ultimately return to investors as distributions.

The European Union's Retail Investment Strategy represents a comprehensive overhaul of investor protection rules across multiple financial services directives, fundamentally reshaping how investment products are manufactured, distributed, and disclosed to retail investors. With political agreement reached and formal adoption imminent, financial institutions face significant compliance challenges around inducements, value-for-money assessments, and enhanced disclosure requirements that will transform retail

In the Democratic Republic of Congo, restructuring and distressed deal activity are being shaped by two apparently opposite forces: resilient growth and heightened risk. The mining economy continues to attract capital, particularly in copper, cobalt, energy, logistics and infrastructure. At the same time, the concentration of growth in extractive industries exposes companies to commodity-price cycles, export measures, foreign-exchange pressures, supply-chain disruption and the security situation in the eastern provinces.

Nigeria's Federal Government has announced plans to raise ₦729 billion through a Series II bond under the Presidential Power Sector Debt Reduction Programme, building on the successful ₦501 billion Series I issuance earlier in 2026. While these capital market interventions aim to resolve verified legacy liabilities and restore liquidity across the Nigerian Electricity Supply Industry, the underlying question remains whether debt resolution alone can break the cycle of accumulating obligations wi

One of the challenges encountered while trying to enforce monetary judgments in Nigeria by way of garnishee proceedings is that often, garnishee banks feel obligated to stonewall the judgment enforcement process by asserting certain rights or interests over judgment sums standing in the credit of judgment debtors in their custody.

The Supreme Court of Uganda has delivered a landmark judgment in Sebasif Group Enterprises v DFCU Bank that fundamentally reshapes the allocation of risk in finance leasing transactions. The decision establishes that financiers who take legal title to assets cannot disclaim responsibility for that title's validity through standard exclusion clauses, drawing a critical distinction between mechanical risk and proprietary risk. This ruling has far-reaching implications for banks, asset finance providers, and l

Nigeria's aviation market relies heavily on leased aircraft, creating significant opportunities for international lessors and financiers. However, foreign exchange volatility, regulatory complexities, and enforcement challenges mean that every aircraft lease must be structured with asset recovery in mind. The critical question is not whether a lease will perform as expected, but whether lessors can swiftly protect and recover their assets when transactions become distressed.

This collection examines critical developments across African legal systems, from procurement remedies and textile waste regulation to merger control thresholds and constitutional interpretation.