Ministry issues Partnership Beneficial Ownership Regulations in Tanzania
On 22 September 2023, the Minister for Industry and Trade issued detailed procedures for submission of information of Beneficial Ownership (BO) vide the Business Names (Beneficial Ownership) Regulations, 2023, GN No. 714 of 2023 (the Regulations). The Regulations impose a mandatory obligation to every managing partner in a partnership to prepare and keep records of […]
New Business Licensing Regulations Published in Tanzania
On 1 September 2023, the Minister for Industry and Trade (the Minister) issued the Business Licensing Regulations, 2023 (the New Regulations), vide the Government Notice No. 626 of 2023. The New Regulations require every application for a business licence to be made to the relevant licensing authority in the area in which the business is/intended […]
Tanzanian government ordered to pay mining giant $109m
The International Centre for Settlement of Investment Disputes (ICSID), which is part of the World Bank, has now closed the arbitration proceedings, with a tribunal unanimously finding that the government of Tanzania in 2018 breached the UK-Tanzania Bilateral Investment Treaty. The result of these proceedings is that the Tanzanian Government will need to pay more […]
Technology Media & Telecommunications in Africa update
This e-bulletin highlights key legislative and regulatory developments in the technology, media and telecommunications sectors in sub-saharan Africa. This issue covers the period 16 April 2023 to 15 July 2023 and includes developments from Eswatini, Ethiopia, Ghana, Kenya, Lesotho, Malawi, Mauritius, Mozambique, Namibia, Nigeria, Rwanda, South Africa, Seychelles, Tanzania, Uganda, Zambia and Zimbabwe. eSwatini Notice […]
LEX Africa’s recent mining webinar highlighted many of the opportunities and challenges of this vibrant sector
LEX Africa recently held a mining webinar, during which renowned expert mining lawyers from member law firms from South Africa, Mali, DRC, Ghana, Zambia and Tanzania discussed the latest mining trends within their respective countries. These knowledgeable speakers, who have a deep understanding of mining law and the practice thereof also highlighted investment opportunities and […]
Tanzania: Conditions for Establishment of Banks’ Branches Abroad Introduced
The Governor of Bank of Tanzania (BoT) published the Banking and Financial Institutions (Licensing) (Amendment) Regulations, 2023 (the 2023 Regulations), which amend the Banking and Financial Institutions (Licensing) Regulations, 2014 (the 2014 Regulations). The 2023 Regulations were published to give more details on regulation 40 of the 2014 Regulations concerning establishment of foreign banks’ branches […]
Increasing confidence in Tanzania’s economic prospects and future growth
Reports by the World Bank and Fitch Solutions, and input from LEX Africa’s Tanzania member law firm reflect increasing confidence in the country’s economic prospects and future growth. Tanzania is an East African country located east of Africa’s Great Lakes, north of Mozambique, and south of Kenya, and is bordered by Burundi, the DRC, Malawi, […]
Digital currencies and services gaining momentum across the continent
A McKinsey report earlier this month highlights that although cash is still king in Africa its supremacy is likely to be increasingly challenged as e-payments gain momentum. With innovation escalating there is a shift in the way people pay for goods and services with electronic payments rapidly displacing cash and cryptocurrency and digital currencies emerging […]
New Free Carried Interest Regulations Issued
Article by Tanzanian member FB Attorneys. In a bid to ensure Tanzanians also enjoy a share of their minerals, section 10 of the Mining Act, R.E. 2019 (the Act) imposes a mandatory requirement to mining companies in Tanzania to afford/grant the Government of Tanzania (GoT) a minimum of 16% non-dilutable free carried interest shares in […]
Dispute resolution practices progressing across the continent
Dispute resolution practices vary in many respects from one African country to another, although some significant similarities are apparent. The latter includes a predominance of preference for litigation in handling disputes, for various reasons, although arbitration is gaining increasing acceptance, while mediation is lagging behind. This was highlighted in the responses LEX Africa received from […]
