Tag: Business licence

Rwanda is one of the fastest developing African countries with a thriving Information Communication and Technology (ICT) sector. According to the Rwanda Development Board (RDB), as of 2020, the ICT sector grew by 29%, contributed 2% of the country’s GDP and employed around 8,962 workers …

Quarrying business is an important sub-sector of the Nigerian mining industry. The mining and quarrying sector contributed over N100 billion to Nigeria’s GDP in 2021. The quarrying business sector is regulated by the Federal Ministry of Mines and Steel (“Ministry”) in terms of issuance of …

The apex bank and regulator of the financial sector in Nigeria, the Central Bank of Nigeria (“CBN”), on 10th July 2023 released an official list of licensed International Money Transfer Operators (“IMTOs”) in the country. This comprehensive list is a constructive notice to the general …

Doing digital lending business in Nigeria generally requires an operational licence that must be renewed annually in addition to fulfilling other regulatory compliance obligations if the company must remain compliant with the law. In Lagos State, for example, a company cannot operate a business of …

The Federal Competition and Consumer Protection Commission (“FCCPC”) has announced its decision to begin to receive applications for registration of new digital money lending companies in Nigeria. On August 18, 2022, the FCCPC, as part of its Joint Regulatory and Enforcement Task Force (“JRETF”), introduced …

Copyright is simply a set of exclusive rights granted by law to an author or creator of an original work, including the right to copy, distribute or, license, and reproduce the work throughout his lifetime and thereafter for a term of years. This right (i.e. …

Introduction Payments Terminal Service Provider (“PTSP”) companies are some of the major drivers of the Nigerian payments sub-sector. According to a 2022 report by Insider Intelligence, Nigeria (with record 3.7 billion transactions) ranked 6th amongst top 10 countries in the world (and the 1st in …

The consumer lending sub-sector in Nigeria is rapidly growing in terms of the number of market entrants (over 200 loan companies operating in the country), the licensing requirements and regulatory changes introduced to address consumer complaints against some business malpractices like privacy rights violations and …

Just like in Nigeria and many other African countries, payment products and services are well regulated in Uganda by the country’s apex bank, the Bank of Uganda (“BoU”), through its National Payment System Department (“NPSD”). The NPSD oversees the national payment system of the country …

Uganda is increasingly becoming a destination not only for tourism but also Fintech businesses as digital lending businesses are springing up and thriving in the East African country of about 47 Million population (over 50% of which have mobile telephone and internet access) as well …