Regulatory compliance in Senegal
- The Trade Adviser
- Jul 22, 2024
- 1 min read
Updated: Jun 1
Regulatory compliance in Senegal is a crucial topic for businesses and non-profits operating in the country. The legal landscape is shaped by various laws and regulations that aim to ensure transparency, accountability, and ethical practices. This article explores the key aspects of regulatory compliance in Senegal, covering areas such as non-profit organizations, corporate governance, ESG standards, accounting and auditing, telecommunications, bank secrecy, and anti-corruption measures.
Key Takeaways
Senegal's regulatory framework for non-profits involves multiple agencies and stringent reporting requirements.
Corporate governance in Senegal is influenced by regional bodies like WAEMU and OHADA, which set standards for credit institutions.
While there are no specific ESG requirements for banks, institutions are encouraged to adopt international ESG standards.
Accounting and auditing in Senegal are governed by regional legislation, including the OHADA Uniform Act and IFRS guidelines.
Telecommunications compliance is overseen by ARTP, with requirements similar to those in the European Union.
