The Malabo Convention

Adopted in June 2014 by the Conference of Heads of State and Government of the African Union, the African Union Convention on Cybersecurity and the Protection of Personal Data, better known as the “Malabo Convention”, entered into force on 8 June 2023 following the ratification by Mauritania, being the 15th African State. The Convention, which […]

The new UEMOA banking law

The new UEMOA banking law

2024 will mark the entry into force of the new banking regulations in the WAEMU area and the repeal of Act No. 2008-26 of 28 July 2008 on banking regulations in Senegal. This new law will apply to banks, credit institutions and, from now on, payment institutions, electronic money institutions and bank holding companies operating […]

Doing Business In: Senegal

Within the last decade, the economic, social and legal landscape of Senegal has undergone developments at various levels. Indeed, Senegal is increasingly becoming a country favourable to investment on a regional and international scale. Read more

Banking Regulation 2023

The principal laws and regulations governing the banking sector are the following: Framework law on banking regulation (BCEAO) (Loi cadre portant réglementation bancaire BCEAO); Law 2008-26 of 28 July 2008 on banking regulation (Loi 2008-26 du 28 juillet 2008 portant réglementation bancaire); and Collective Agreement on Banks and Financial Institutions in Senegal (Convention collective des […]

Banking Regulation 2023

Fintech and Investment Opportunities in Senegal: Overview and Practice Overview of payment fintechs in Senegal Senegal, with an estimated population of 16.74 million, is growing towards financial inclusion. Due to the dynamism of the ecosystem, the country has about 20 fintech companies, 47 facilitators, and financing partners spread over several areas of activity: payments, credit, […]

Investing In… 2023

The laws of Senegal are based on the civil law system. There is a set of legal codes establishing legal procedures voted by the national assembly or adopted by the government and applicable in different matters. Read more

Investing In… 2023

The Regulations Relating to the Establishment of a VTC Company in Senegal With the arrival on the Senegalese market of VTC (chauffeur-driven transport vehicle) companies, the Senegalese legislation relating to transportation and personal data is evolving to adapt and integrate this new activity to its market in order to allow for better regulation and transparency. […]

Mining 2023

Senegal’s subsoil contains a wide variety of mineral resources: iron, gold, copper, lithium, chromium, alumina phosphates, ceramic and industrial clays (attapulgite), limestone, ornamental stones (marble, granite, etc), heavy minerals (ilmenite, zircon, rutile), extra-siliceous sands (glass-making sand), manganese, diatomaceous earth, sand and rock salt, etc. Read more

Energy: Oil & Gas 2022

According to the provisions in Article 5 of Law No 2019-03 of 1 February 2019 on the Petroleum Code (the “Petroleum Code” or PC), all petroleum resources belong to the Senegalese people. The Ministry of Hydrocarbons and the National Petroleum Company (Société des Pétroles du Sénégal – PETROSEN) are the government bodies responsible for the […]

Corporate Governance 2022

Commercial companies are governed in Senegal by the Uniform Act on the Law of Commercial Companies and Economic Interest Grouping, published on 30 January 2014 (AUSCGIE). The most commonly used commercial forms are, in order, the société à responsabilité limitée (SARL), the société anonyme (SA) and the société par actions simplifiée (SAS). Read more