Overlapping US and China sanctions create compliance challenges for African businesses, affecting multiple industries.
Key facts
- •US and Chinese sanctions are creating compliance challenges for African businesses
- •Multiple industries, including mining, banking, and technology, are affected
- •Compliance consultants have reported a surge in inquiries from companies and investors
- •The US has at least 37 active sanctions programmes, targeting countries, companies, and individuals
US and Chinese sanctions are creating a compliance minefield for African businesses dealing with the two economies. A range of industries, including mining, banking, and technology, are affected. Companies and investors are seeking guidance on navigating these overlapping pressures.
Affected Industries
African businesses in multiple industries, such as mining, banking, telecommunications, technology, energy, and infrastructure, are exposed to both US and Chinese counterparties. This exposure puts them at risk of non-compliance with sanctions and export controls.
Compliance Challenges
Compliance consultants have seen a surge in inquiries from companies and investors assessing their exposure to sanctions. China's new regulations add complexity, making it a challenge for African businesses to navigate the overlapping pressures.
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This article was independently rewritten by ManyPress editorial AI from reporting originally published by South China Morning Post.
