Appendix C15 / 20
Regulatory Quick-Reference
By jurisdiction
6 min read
| Jurisdiction | Regulator | Framework | Exchange Control | WHT Interest | Key Note |
|---|---|---|---|---|---|
| South Africa | FSCA; JSE | JSE Sustainability; DSSLRs 2024; Green Finance Taxonomy | SARB; outflows >R10M | 15% | Most developed market. B-BBEE affects ownership. |
| Kenya | CMA Kenya; NSE | Green Bond rules; M-Akiba precedent | CBK; relatively liberal | 15% | EAC hub. Mobile money. Active VC. |
| Nigeria | SEC Nigeria; FMDQ | Green Bond Rules 2018 | CBN; multiple rates | 10% | InfraCredit innovation. Currency volatility dominant risk. |
| Rwanda | CMA Rwanda; RSE | Emerging green finance | BNR; liberal | 15% | Innovation-friendly. Kigali IFC. |
| Ghana | SEC Ghana; GSE | Green bond guidelines | BoG; managed float | 8% residents | Cedi volatility. GIPC for promotion. |
| Mauritius | FSC Mauritius | GBC framework; ESG fund structures | None | 0–15% | Default fund domicile. DTAs with 40+ countries. |
| Morocco | AMMC; Casablanca SE | Green bond framework; CFC incentives | BAM; liberalising | 10–15% | Africa-Europe bridge. AFCON 2028 host. |
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