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US and China sanctions overlap is raising compliance pressure in Africa
Analysts cited by SCMP Economy say African firms and investors are fielding more inquiries to assess sanctions and export-control exposure, as the US runs at least 37 active sanctions programs.
US and China sanctions that overlap are creating a compliance challenge for businesses operating across Africa, spanning industries such as mining, banking, telecommunications, technology, energy, and infrastructure, according to analysts cited by SCMP Economy.
The outlet reports that compliance consultants on the continent have seen a surge in inquiries from companies and investors trying to determine how exposed they are to both US sanctions and Chinese legal requirements.
SCMP Economy also quotes Cheta Nwanze, a partner at SBM Intelligence, a Lagos-based risk consultancy, saying the situation is not a simple choice between sides, but a need to navigate overlapping pressures from both regimes.
The piece adds that, according to the US Office of Foreign Assets Control, the Treasury Department unit that manages sanctions, the US has at least 37 active sanctions programs with targets ranging from countries to companies and individuals.