Africa: Finance and Banking

European independence requires financing, agreement on capital deployment, risk allocation and arrangements for when investment, markets or public finances come under pressure. This Client Alert assesses the implications of Commission President von der Leyen's 2026 State of the European Union speech for financial services, examining how banking competitiveness, market integration, industrial capacity, climate resilience and economic security converge into a single policy programme.

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.

The concept of Guarantorship is often taken for granted in Nigeria. The seemingly small request we now hear from friends, family members or even colleagues can be captured in the following sample appeal: “I collected one small loan, and I need you to be my guarantor. Please just sign here, I already know how to pay back; it will not be a big deal.”

A pattern is emerging, one where private-owned monies are being diverted for public borrowing without the notice or express consent of the legal owners. In August 2026, President Bola Tinubu proposed the use of unclaimed dividends and dormant accounts funds to fund the Nigerian Education Loan Fund (“NELFUND”). Dr. Maruf Alausa, the Minister of Education, informed the public that cross ministerial efforts have commenced between the Ministries of Education, Finance and office of the Attorney-General of the Federation towards removing legal hurdles and operationalising this directive.2

Blended finance, is a smart investment method that combines money from the government or charities with private business capital. Its main goal is to push private investment into "frontier" or emerging markets and places that businesses usually avoid because they seem too risky or do not offer high enough returns.

Nigeria's Cabotage Vessel Financing Fund offers a $700 million opportunity for indigenous shipowners, but accessing these funds requires far more than completing an application form. Understanding what lenders evaluate—from repayment capacity and corporate structure to security arrangements and vessel revenue streams—can mean the difference between a rejected application and successful financing.

The Supreme Court's decision in 11 PLC v. Milan Industries Ltd raises critical questions about the constitutional validity of statutory ouster clauses that restrict judicial remedies. While upholding AMCON's powers to enforce mortgage securities and sell collateralized assets, the court controversially held that Section 34(6) of the AMCON Act validly ousts courts' jurisdiction to grant restorative reliefs, limiting aggrieved parties to monetary compensation only. This interpretation conflicts with constitut

Foreign investors engaging with Nigerian companies face unique challenges when recovering debts or protecting investments during financial distress. This comprehensive guide examines the legal framework under CAMA 2020, exploring restructuring mechanisms, enforcement of security interests, winding-up procedures, and cross-border insolvency considerations that shape debt recovery strategies in Nigeria's evolving commercial landscape.

The Octopus card is a Hong Kong-developed contactless stored-value smart card. Initially introduced for public transport, it has since evolved into a prepaid payment tool across a range of everyday transactions.

The Mauritius fund industry demonstrated significant resilience and adaptability in 2025, successfully navigating a complex period of global tax reform and heightened regulatory standards. The year was defined by the integration of the 2025 Finance Act’s new tax framework (including the Qualified Domestic Minimum Top-Up Tax, or QDMTT) and a reinforced focus on economic substance, such as the two resident director rule for global business companies (GBCs).

In meeting its policy commitments and addressing the regulatory amendments required to implement the Payments Ecosystem Modernisation (PEM) Programme, the South African Reserve Bank (SARB) published two draft documents for public comment.