Papers by Eric Frank Ringo
REGULATION OF MICROFINANCE BUSINESS IN TANZANIA NOW IN FULL FLEDGE KEY ISSUES: • The Entry into force of these Regulations provides onwards supervision, Management and administration of Microfinance business in Tanzania, 2019
The Central Bank of Tanzania (Bank of Tanzania) has issued the regulations governing Microfinance... more The Central Bank of Tanzania (Bank of Tanzania) has issued the regulations governing Microfinance Business in Tanzania. The regulations are in trio containing, Microfinance (Non-Deposit Taking Microfinance Service Providers) Regulations 2019 (GN No. 679 of 2019), Microfinance (Savings and Credit Cooperative Societies) Regulations 2019 (GN No. 675 of 2019), The Microfinance (Community Microfinance Groups) Regulations 2019 GN No. 678 of 2019. These regulations are in response to the enactment of the Microfinance Act, Cap. 407. The set of these three new Regulations is meant to provide the operational guidance for the management, supervision and administration of Microfinance business in Tanzania. This Publication highlights the regulatory requirements brought by new regulations on Tier 2 Microfinance Regulations covered under the Microfinance (Non-Deposit Taking Microfinance Service Providers) Regulations 2019 (GN No. 679 of 2019). As such, according to the regulations, Tier 2 Microfinance Business has been defined as category of non-deposit taking microfinance service providers including credit companies, financial organizations, housing microfinance companies, individual money lenders and digital microfinance lenders.
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FIN & LAW, 2021
The Government of Tanzania has appointed 18th January 2021 to be an effective date for the commen... more The Government of Tanzania has appointed 18th January 2021 to be an effective date for the commencement of operation of the new Arbitration Act, Cap. 15 (Act No. 2 of 2020). The Notice was published on the Government Notice No. 101 of 2021 titled, the Arbitration (Date of Commencement) Notice, 2021, was signed by the Minister for Constitution and Legal Affairs has set into motion the application of the Arbitration Act, Cap.15 effectively from 18th January 2021.
In the same juncture, the effectiveness of the Arbitration Act Cap. 15 came along with the publication of 4 regulations namely, the Arbitration (Rules of Procedure) Regulations, 2021 (Government Notice No. 146 of 2021), Reconciliation, Negotiation, Mediation and Arbitration (Practitioners Accreditation) Regulations, 2021 (Government Notice No. 147 of 2021), the Code of Conduct for Reconciliators, Negotiators, Mediators and Arbitrators, Regulations 2021 (Government Notice No. 148 of 2021) and the Arbitration Centre (Management and Operations) Regulations, 2021 (Government Notice No. 149 of 2021).
This publication thus highlights the salient features of these regulations which are the aiding tools on implementing the new Arbitration Act in Tanzania but also setting up a new era for alternative dispute resolution in Tanzania.
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Eric Frank Ringo, 2020
The Electronic and Postal Communications (Online Content) Regulations, GN No. 538 of 2020 that ca... more The Electronic and Postal Communications (Online Content) Regulations, GN No. 538 of 2020 that came into effect from 17th July 2020 prohibits any persons from providing online content without obtaining a license from the Tanzania Communication Regulatory Authority (TCRA). Regulation 4(2) imposes Punishment of not less than TZS 5 million or to imprisonment for a term of 12 months or to both for any person who contravenes or operates an Online Content without a valid License from TCRA. Also, Regulations requires owners of internet café to establish and publish a safe internet use policy, to filter access to prohibited content as well as to install a surveillance camera, among others. The regulations also enlist prohibited online content such as Obscene content, hate speech, pornography, Content that portrays violence or threaten national security, among others
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Eric Frank Ringo, 2020
The Finance Act, 2020 (Act No. 8 of 2020) has amended 18 laws in Tanzania with a view to imposing... more The Finance Act, 2020 (Act No. 8 of 2020) has amended 18 laws in Tanzania with a view to imposing and altering certain taxes, duties, levies and fees in order to safeguard the collection and management of public revenues. Among others, the amendments focused on the imposing and enhancing business transparency and compliance. Specifically, the Anti-Money Laundering Act, Cap. 423, the Companies Act, Cap 212, the Income Tax Act, Cap. 332, the Trustees Incorporation Act, Cap. 318 have been amended to impose and deal with the new concept of beneficial ownership
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Eric Ringo, 2020
The Central Bank of Tanzania has finally issued the Consumer Protection Regulations known as the ... more The Central Bank of Tanzania has finally issued the Consumer Protection Regulations known as the Bank of Tanzania (Financial Consumer Protection) Regulations 2019 GN No. 884 of 2019 (“the Regulations”). The Regulations set the mandatory requirements for all banking and Financial Institutions (Financial Service Providers) operating in Tanzania to have in place a Consumer Protection governance mechanism. The Regulations expressly define Financial Consumer protection to include laws, institutions, practices and policies to safeguard consumer rights, enable consumers to make informed financial decisions and ensure fairness in the provision of products and services by financial service providers regulated by the Central Bank. Among others, Financial Institutions regulated by the Central Bank includes all Banks, Microfinance Institutions and Bureau de Change, among others
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TANZANIA LEGAL AND POLICY REVIEW AMIDST COVID-19 PANDEMIC, 2020
The Government of Tanzania has announced a set of financial and Traveling measures in response to... more The Government of Tanzania has announced a set of financial and Traveling measures in response to the impact of COVID-19 pandemic on the economy. The Central Bank of Tanzania (Bank of Tanzania) announced policy measures to safeguard the financial sector stability in the country as well as the Ministry of Health that issued measures to be taken relating to International travel. This follows a decreased trend of admitted COVID-19 cases in the country. This article outlines the said policy measures as well as other government directives issued amidst the Covid-19 pandemic.
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THE LEGAL IMPLICATION OF NOVEL CORONAVIRUS (COVID-19): Contractual, Employment and Immigration Aspects in Tanzania, 2020
KEY ISSUES: • The World Health Organisation (WHO) has declared the Novel Coronavirus 2019 (COVID-... more KEY ISSUES: • The World Health Organisation (WHO) has declared the Novel Coronavirus 2019 (COVID-19) to be a global pandemic. Thus, the ongoing global outbreak and spread of the pandemic has legal implication in business across the globe including Tanzania. This article, therefore, highlights the legal implications of the COVID-19 for Contract law, Employment law as well as implication on Immigration law in Tanzania which are the principal business aspects that, the COVID-19 outbreak has had a significant impact. In relation to Contract law, the main challenges are likely to arise with respect to agreements entered before the outbreak of the virus, whose performance has been disrupted or frustrated in the current circumstances. On the other hand, on the aspect of employment law, the emphasized social isolation (quarantine) but also the caring of the sick and death has a major impact on the Employment law. For Expatriate and foreign Employees as well as foreigners entering and leaving the country, necessary legal precautions must be taken that may affect their stay or leaving the country.
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FIN & LAW, 2020
KEY ISSUES: • The Legal Implication of Novel Coronavirus (COVID-19): Contractual, Employment and ... more KEY ISSUES: • The Legal Implication of Novel Coronavirus (COVID-19): Contractual, Employment and Immigration Aspects in Tanzania. The World Health Organisation (WHO) has declared the Novel Coronavirus 2019 (COVID-19) to be a global pandemic. Thus, the ongoing global outbreak and spread of the pandemic has legal implication in business across the globe including Tanzania. This article, therefore, highlights the legal implications of the COVID-19 for Contract law, Employment law as well as implication on Immigration law in Tanzania which are the principal business aspects that, the COVID-19 outbreak has had a significant impact. In relation to Contract law, the main challenges are likely to arise with respect to agreements entered before the outbreak of the virus, whose performance has been disrupted or frustrated in the current circumstances. On the other hand, on the aspect of employment law, the emphasized social isolation (quarantine) but also the caring of the sick and death has a major impact on the Employment law. For Expatriate and foreign Employees as well as foreigners entering and leaving the country, necessary legal precautions must be taken that may affect their stay or leaving the country.
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Tanzania Recent Developments on Land and Banking Law, 2019
The Minister for Lands, Housing and Human Settlement Development has on 25th March, 2019 issued n... more The Minister for Lands, Housing and Human Settlement Development has on 25th March, 2019 issued new regulations titled, the Land (Procedure for Mortgage of Land) Regulations 2019 (Government Notice No. 345 of 2019). These regulations put into effect the restriction to mortgage bare and underdeveloped lands as security for loan in Tanzania.
The regulations are made under section 120E which was part of the amendments made to the Land Act, Cap 113 through the Written Laws Miscellaneous Amendment Act, 2018 (Act No. 1 of 2018). In the said amendments, the Land Act was amended to prohibit mortgage of undeveloped or underdeveloped Land as per the terms and conditions of the Certificate of Right of Occupancy (Title Deeds). Therefore, Banks and financial institutions that offer loans secured by Mortgage must ensure the Mortgaged land is appropriately developed or ensue the proceeds of the loans are directly used for developing the mortgaged land, if the land has not been developed
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REGULATION OF MICROFINANCE BUSINESS IN TANZANIA NOW IN FULL FLEDGE KEY ISSUES: • The Entry into force of these Regulations provides onwards supervision, Management and administration of Microfinance business in Tanzania, 2019
The Central Bank of Tanzania (Bank of Tanzania) has issued the regulations governing Microfinance... more The Central Bank of Tanzania (Bank of Tanzania) has issued the regulations governing Microfinance Business in Tanzania. The regulations are in trio containing, Microfinance (Non-Deposit Taking Microfinance Service Providers) Regulations 2019 (GN No. 679 of 2019), Microfinance (Savings and Credit Cooperative Societies) Regulations 2019 (GN No. 675 of 2019), The Microfinance (Community Microfinance Groups) Regulations 2019 GN No. 678 of 2019.
These regulations are in response to the enactment of the Microfinance Act, Cap. 407. The set of these three new Regulations is meant to provide the operational guidance for the management, supervision and administration of Microfinance business in Tanzania.
This Publication highlights the regulatory requirements brought by new regulations on Tier 2 Microfinance Regulations covered under the Microfinance (Non-Deposit Taking Microfinance Service Providers) Regulations 2019 (GN No. 679 of 2019). As such, according to the regulations, Tier 2 Microfinance Business has been defined as category of non-deposit taking microfinance service providers including credit companies, financial organizations, housing microfinance companies, individual money lenders and digital microfinance lenders.
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Papers by Eric Frank Ringo
In the same juncture, the effectiveness of the Arbitration Act Cap. 15 came along with the publication of 4 regulations namely, the Arbitration (Rules of Procedure) Regulations, 2021 (Government Notice No. 146 of 2021), Reconciliation, Negotiation, Mediation and Arbitration (Practitioners Accreditation) Regulations, 2021 (Government Notice No. 147 of 2021), the Code of Conduct for Reconciliators, Negotiators, Mediators and Arbitrators, Regulations 2021 (Government Notice No. 148 of 2021) and the Arbitration Centre (Management and Operations) Regulations, 2021 (Government Notice No. 149 of 2021).
This publication thus highlights the salient features of these regulations which are the aiding tools on implementing the new Arbitration Act in Tanzania but also setting up a new era for alternative dispute resolution in Tanzania.
The regulations are made under section 120E which was part of the amendments made to the Land Act, Cap 113 through the Written Laws Miscellaneous Amendment Act, 2018 (Act No. 1 of 2018). In the said amendments, the Land Act was amended to prohibit mortgage of undeveloped or underdeveloped Land as per the terms and conditions of the Certificate of Right of Occupancy (Title Deeds). Therefore, Banks and financial institutions that offer loans secured by Mortgage must ensure the Mortgaged land is appropriately developed or ensue the proceeds of the loans are directly used for developing the mortgaged land, if the land has not been developed
These regulations are in response to the enactment of the Microfinance Act, Cap. 407. The set of these three new Regulations is meant to provide the operational guidance for the management, supervision and administration of Microfinance business in Tanzania.
This Publication highlights the regulatory requirements brought by new regulations on Tier 2 Microfinance Regulations covered under the Microfinance (Non-Deposit Taking Microfinance Service Providers) Regulations 2019 (GN No. 679 of 2019). As such, according to the regulations, Tier 2 Microfinance Business has been defined as category of non-deposit taking microfinance service providers including credit companies, financial organizations, housing microfinance companies, individual money lenders and digital microfinance lenders.
In the same juncture, the effectiveness of the Arbitration Act Cap. 15 came along with the publication of 4 regulations namely, the Arbitration (Rules of Procedure) Regulations, 2021 (Government Notice No. 146 of 2021), Reconciliation, Negotiation, Mediation and Arbitration (Practitioners Accreditation) Regulations, 2021 (Government Notice No. 147 of 2021), the Code of Conduct for Reconciliators, Negotiators, Mediators and Arbitrators, Regulations 2021 (Government Notice No. 148 of 2021) and the Arbitration Centre (Management and Operations) Regulations, 2021 (Government Notice No. 149 of 2021).
This publication thus highlights the salient features of these regulations which are the aiding tools on implementing the new Arbitration Act in Tanzania but also setting up a new era for alternative dispute resolution in Tanzania.
The regulations are made under section 120E which was part of the amendments made to the Land Act, Cap 113 through the Written Laws Miscellaneous Amendment Act, 2018 (Act No. 1 of 2018). In the said amendments, the Land Act was amended to prohibit mortgage of undeveloped or underdeveloped Land as per the terms and conditions of the Certificate of Right of Occupancy (Title Deeds). Therefore, Banks and financial institutions that offer loans secured by Mortgage must ensure the Mortgaged land is appropriately developed or ensue the proceeds of the loans are directly used for developing the mortgaged land, if the land has not been developed
These regulations are in response to the enactment of the Microfinance Act, Cap. 407. The set of these three new Regulations is meant to provide the operational guidance for the management, supervision and administration of Microfinance business in Tanzania.
This Publication highlights the regulatory requirements brought by new regulations on Tier 2 Microfinance Regulations covered under the Microfinance (Non-Deposit Taking Microfinance Service Providers) Regulations 2019 (GN No. 679 of 2019). As such, according to the regulations, Tier 2 Microfinance Business has been defined as category of non-deposit taking microfinance service providers including credit companies, financial organizations, housing microfinance companies, individual money lenders and digital microfinance lenders.