Beneficial Ownership Transparency in Africa The State of Play in 2020

This publication examines the state of beneficial ownership transparency in Africa, focusing on the registration and disclosure requirements for legal entities across 17 African countries. It highlights the importance of disclosing the ultimate owners or controllers of companies, partnerships, trusts, and private foundations to combat illicit financial transactions. While some progress has been made, no country in Africa has achieved ideal levels of beneficial ownership registration. The report identifies areas for improvement, including expanding the scope of beneficial ownership provisions, prohibiting bearer shares, ensuring comprehensive and up-to-date information, and making registries publicly accessible. The publication concludes with recommendations to enhance beneficial ownership transparency in Africa.