The collaboration is set to make compliance across Africa easier and more accessible – responding to a top concern of global corporate leaders. The LegalTech company Afriwise and Sabinet, one of South Africa’s leading legal information providers, entered a channel partnership. By working together, Sabinet and Afriwise aim to make compliance easier and more accessible for companies operating across Africa. The collaboration will help businesses stay up to date with legal and regulatory requirements. “It will help minimise the risks and implications of non-compliance, a growing concern of corporate leaders.”
Global leaders struggle with Africa’s compliance landscape.
Countries across Africa are introducing legislation at the speed of light. Recent legal developments include anti-money laundering, bribery and corruption, antitrust regulations, trade and export controls, environmental, employment and human rights laws, and cybersecurity and data protection laws.
This finding is underscored by a recent Baker McKenzie report amongst global leaders and legal advisors. It showed that, of all the regions in which to do business, 48% thought Africa was the most challenging. The rapidly evolving legal and regulatory landscape is making it hard for business to stay compliant and avoid risks.
The cost of non-compliance is steep.
Steven De Backer, founder and CEO of Afriwise, noted that the changing landscape has brought about a greater need for legal and regulatory sourcing solutions:
“Staying up to date with legal and regulatory requirements is becoming increasingly complex. The risks have heightened significantly in recent years, and the implications and costs of non-compliance are steep.”
An integrated view on regulatory frameworks.
Having the full view on regulatory requirements is key for any compliance programme. Sabinet further notes how the cooperation of Sabinet and Afriwise will benefit legal and compliance executives:
“Sabinet’s in-depth South African legislative, judicial and legal research collection complements Afriwise’s offering focusing on the rest of Africa. Combining these resources will provide a unique and valuable offering to our clients” Rosalind Hattingh, MD: Sabinet
A 360° view on compliance.
Sabinet’s in-depth legal resources and news for South Africa, dating back 112 years, will complement Afriwise’s growing content portfolio. In addition, Sabinet will be able to offer its clients access to Africa’s largest cross-border legal and regulatory database operated and maintained by Afriwise. This cooperation will act as the definitive one-stop shop for legal and compliance professionals and offer them a 360° view of what is required for their business to stay compliant across Africa.