The fintech industry is popular for its dynamic approach to delivery and relies on technological advances. Innovations such as blockchain, mobile payments and savings, peer-to-peer lending platforms, crowdfunding and similar internet-based solutions have radically transformed the financial services landscape in Nigeria, challenging its traditional business models and regulatory infrastructure. However, beyond the noteworthy advancements in this sector, a key concern is giving the country’s growing population access to these innovative solutions.
Our lawyers in Tunisia advise banks, financial institutions, investment funds on all business aspects in securing guarantees as well as in completing due diligence reports, checking on debts, M&A transactions, financial services regulatory, structured finance and securitization and public private partnerships (PPP).
In addition to our excellent legal know-how, we have strong communication and negotiation skills which gave us the ability to work with our clients seamlessly and to guide them through the right approach to accomplish their projects or to develop their financial strategies.
Experience has included advising:
- El Karama Holding in the sale of public participations in the capital of several companies (Hyundai);
- PGI Holding – Amen Bank Group in different services such as drafting agreements, assisting in corporate, M&A and private equity matters;
- Attijari Finance in M&A and restructuring operations of its clients;
- IM Bank on several privatization operations in Tunisia; and
- The Tunisian State in an ICSID arbitration opposing an international group in the financial sector.
Open banking is a system where banks allow or authorize third parties, such as financial technology or fintech companies, to access their clients’ financial data to build applications or services. Anchored on providing better customer experiences, open banking has stirred a lot of interest in Africa, including banking apps with detailed analytics of finances, the ability to send money from one bank to another using mobile phones, or the ability to transfer money from one telecoms network to another.
Third-party funding is not new; however, it is about to enter a period of unprecedented global growth – notably in Africa. The measures implemented by governments in response to COVID-19, coupled with the rapid economic downturn and ongoing uncertainty arising from the pandemic, have created the perfect storm. The outlook may seem bleak, but third-party funding offers a ray of hope for beleaguered boardrooms looking to maximize cashflow in this unpredictable period.
Regulation of financial services in Tanzania is largely conducted by the Central Bank of Tanzania (the Bank).