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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 […]
Investment Opportunities in Cameroon for 2026: A Comprehensive Guide
As we embark on a new year, it’s essential to explore the investment landscape in Cameroon. In his annual address, the President of the Republic of Cameroon highlighted the priority sectors for investment in the upcoming year. This blog post aims to provide valuable insights into the investment opportunities in Cameroon for 2024, focusing on […]
Understanding Tax Obligations for Foreign Business Activities in Cameroon
In order to foster international business relations and prevent tax evasion, Cameroon has entered into various tax treaties since the 1970s. These agreements aim to eliminate double taxation and establish mutual assistance rules. As of December 31st, 2022, Cameroon has ten active tax treaties, including bilateral agreements with countries such as France, Canada, Tunisia, Switzerland, […]
Regulating Virtual Asset Services in the CEMAC Zone: A Game-Changer for Crypto Platforms
On December 14, 2022, the Financial Market Regulator of the CEMAC Zone (Cameroon, Central African Republic, Chad, Congo, Equatorial Guinea, and Gabon),
