Welcome to the November 2019 issue of our Francophone Africa newsletter. The aim is to give you a regular, brief practical overview of news and developments that may affect your business operations in the region.
In this issue:
New law regulating public companies in Djibouti
Recovery and publication of pecuniary sanctions by the Central African Banking Commission New Ivorian Forestry Code New Penal Code in Gabon New law regulating public companies in Djibouti Djibouti has recently regulated the conditions under which public entities may intervene in the economic sphere through public companies following the adoption of Law No. 55/AN/19/8 of 23 July 2019 on the legal regime of public companies. As an effective tool in the field of public policy, public companies (entreprises publiques) guarantee the public shareholder and contracting authority that the general interest is effectively taken into account in the company's objectives and the flexibility of a private company.
Recovery and publication of pecuniary sanctions by the Central African Banking Commission
At its ordinary session of 23 September 2019, the Central African Banking Commission (COBAC) adopted a number of measures, including Regulation R-2019/03 on the rules governing the imposition and recovery of financial penalties by the Banking Commission of Central Africa and Regulation R-2019/04 on the rules governing the publication of disciplinary and financial sanctions imposed by the Central African Banking Commission.
New Ivorian Forestry Code
In order to tackle the deforestation of 80% of the country's forests, Côte d'Ivoire recently adopted a new Forestry Code. Law No. 2019-675 of 23 July 2019 replaces the 2014 Forestry Code, which has failed to establish an effective reforestation and forest protection policy.
New Penal Code in Gabon
Law No. 042/2018 of 5 July 2019 on the Penal Code revises the old Gabonese Penal Code to introduce some major changes. The new Criminal Code addresses new forms of crime such as terrorism, maritime piracy, cybercrime, the fight against large-scale trafficking in ivory, pharmaceuticals products, narcotics and strategic raw materials. It deals further with environmental protection.