Mobile Money: A Robust Catalyst for Financial Inclusion in CEMAC
The recently released 2022 report on payment services by the CEMAC Central Bank highlights the pivotal role of mobile money in driving financial inclusion, digitizing payments, and developing African economies. Mobile money accounts for an impressive 98% of all opened payment accounts in the CEMAC zone, demonstrating its dominant position in the financial landscape. During […]
Tax Law | Treaty to Eliminate Double Taxation on Income: Cameroon – China
Cameroon and China signed a groundbreaking tax treaty on October 17, 2023, in Beijing, to deepen economic ties. Signed by Cameroon’s Finance Minister on behalf of President Paul BIYA, the treaty aims to eliminate double taxation on income, creating a more predictable tax environment for businesses and individuals. It also seeks to crack down on […]
Online Protection of Children: Cameroon’s New Law Ensures Safe Internet Usage
With the rapid penetration of the internet in Cameroon, coupled with the ease of its access by every segment of the population, it became paramount to consider the safety of children as they navigate the internet space. With this concern in mind, the Cameroonian legislators voted for, and the President of the Republic enacted Law […]
FINTECH | Fintech Regulation in the CEMAC Zone
The Central African Economic and Monetary Community ( the “CEMAC Zone”) has witnessed a remarkable surge in electronic money transactions in recent years, with 572,362,635 transactions valued at XAF 8,296,166,023,386 (over US $14 billion) recorded in the 12 months leading up to December 2018. This unprecedented growth, which surpasses any other statistics in sub-Saharan Africa, […]
Accelerating Cameroon’s Digital Transformation: A Series of Draft Bills and other texts for Public Consultation
With the support of a $100 million World Bank-financed program, the government of Cameroon aims to drive reforms and policies in the Information and Communication Technologies (ICT) sector through the program for accelerating digital transformation in Cameroon (“Program”). This ambitious endeavor, approved by the World Bank on September 28, 2021, sets the stage for a […]
Trade Names Registration In Cameroon
In a rapidly evolving business landscape, establishing a unique and recognizable brand identity is vital for entrepreneurs in Cameroon. One crucial step towards achieving this is the registration of trade names. As a mandatory gateway to company incorporation, trade name registration offers a range of benefits and legal protections. Below we explore the importance of […]
New Law on Bank Secrecy in Cameroon – Enhancing Personal Data Protection
Introduction In Cameroon, the enactment of Law no 2022/006 on bank secrecy marks a significant step towards adapting to the evolving landscape of the financial services sector. This legislation aims to address emerging challenges posed by the entry of new technology actors, such as payment service providers (FINTECH), while ensuring the protection of personal data […]
FINTECH and Cryptoassets: A Comprehensive Guide to the New CEMAC Zone Regulation on Virtual Assets (VAs) and Virtual Asset Service Providers (VASPs)
Introduction In exciting news for cryptocurrency platforms operating within Cameroon, Central African Republic, Chad, Equatorial Guinea, Gabon, and the Republic of the Congo, the Financial Markets regulator of CEMAC, known as “COSUMAF,” has recently unveiled a groundbreaking regulation on Financial Markets. This comprehensive regulation includes specific provisions related to Virtual Assets (VAs) and Virtual Asset […]
Regulation of Cryptocurrency in the CEMAC Region: Key Updates and Implications
In May 2022, the financial regulator of Cameroon, Chad, the Central African Republic, Equatorial Guinea, Gabon, and Congo Brazzaville issued a significant prohibition affecting reporting entities, including Banks, Microfinance Institutions, and Payment Service Providers. This prohibition disallows these entities from facilitating cryptocurrency transactions. The decision comes in the wake of the Central African Republic’s adoption […]
Protecting Non-Fungible Tokens (NFTs) with Intellectual Property Rights in the OAPI Region
Introduction In this blog post, we will explore the exciting realm of intellectual property rights in relation to Non-Fungible Tokens (NFTs). As of January 1, 2023, the World Intellectual Property Organization has implemented changes in the Nice Classification, specifically under Class 9, to protect NFTs and related crypto assets. This development brings significant implications for […]
