Cash-In-Transit and Cash Processing Companies in Nigeria: Some Market Entry Considerations
The world is rapidly shifting into a cashless system. Even with this change, cash is still widely used in most countries, just like in Nigeria where it is the mainstay for a majority of its population of over 200 million people. This means that currency management services, especially with respect […]
Venture Capital Participation in the African Entertainment Value Chain
Looking at stats from Crunchbase, VCs have invested over $10.5 billion in early stage investment in the entertainment sector globally over the last decade. Not many of these investments were made in African entertainment companies even with the growth experienced in the sector within the same period. With a preference […]
Launching Your Startup? Legal and Commercial Considerations for Beginners
The global startup ecosystem is growing at fast pace. In Africa, it is faster than ever before. There is ever increasing innovation, and investors are ready to put in good capital to bring the next big innovation into profitability. This is largely influenced by growth in the global information technology […]
AfCFTA and the Prospects for African Tech
Imagine that you run an e-commerce business established in Nigeria. Let’s call the platform Buymore. Buymore records about 100,000 trades daily. In Nigeria, Buymore has about 100 warehouses from where it stores, packages and delivers goods to customers. You decide to establish similar structures in Ghana, Kenya and South Africa. You also […]
Legal and Market Entry Considerations For Investment in the Nigerian Mining and Solid Minerals Sector
Nigeria is a rich diverse country with a host of natural resources. It is a country with a lot of solid minerals, many of which are found in industrial quantities. With about 34 different solid minerals, the sheer size of Nigeria makes the prospect for exploration and mining of natural […]
New License Categorisations for the Nigerian Payments System
On December 10 2020 the Central Bank of Nigeria (CBN) sent a circular dated December 9 2020 to all Payment Service Providers, Banks and Other Financial Institutions on the new License Categorisations for the Nigerian Payment System (the “Circular”). With increased innovation in the Nigerian payments space, the Circular provides clarity for new and existing market participants given significant changes in the payments sub-sector.
Examining the CBN Guidelines on Payment Service Banks
In a bid to further its efforts at financial inclusion in Nigeria, the Central Bank of Nigeria (the “CBN“), pursuant to its powers in the Central Bank of Nigeria Act 2007 and the Banks and Other Financial Institutions Act 1991 (as amended), on October 5 2018 introduced the Draft Guidelines […]