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This article examines Zimbabwe's indigenisation legislation, points out some of its inadequacies and draws lessons from South Africa's experiences in implementing its own indigenisation legislation. Both countries have encountered challenges relating to an upsurge in unethical business conduct aimed at defeating the objectives of their black economic empowerment programmes, policies and legislation. This practice is called business fronting. However, while South Africa has succeeded in enacting a credible piece of legislation aimed at addressing this issue, Zimbabwe has yet to do so. The article points out that the failure to specifically regulate against business fronting poses the most significant threat to the attainment of the laudable aims and objectives of the indigenisation programme and related legislation. In order to avoid becoming a regulatory regime that is notorious not only for being functionally ineffective but also for tacitly permitting racketeering in reality, the article argues for the adoption of antifronting legislation in Zimbabwe using the South African legislation as a model.

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The contemporary global financial services market has witnessed a substantial increase in cybercrime which places consumers’ personal data at risk. Rapid increases in cybercrime linked to the financial services market have driven financial market regulators to pass novel laws and regulations aimed at curbing the rate of occurrence of cybercrimes connected to personal data sharing. To that end, banks and/or financial services companies in Europe have swiftly moved to comply with the European Union’s General Data Protection Regulation. Whilst personal data protection regulation is not a new concept in Europe, most African countries (with exception of South Africa) do not have laws and regulations on personal data protection. With the financial services market being extremely vulnerable to cyber risks owing to the digitisation of the financial services sector, it is important to assess the suitability of South Africa’s current regulatory framework concerning the protection of personal data. This article thus examines South Africa’s Protection of Personal Information Act 4 of 2013 with a view to ascertaining its suitability and/or adequacy in protecting personal data in the country’s financial services market. With the global Covid-19 pandemic bringing about concerns related to rapid increases in cyber-attacks in the financial services market owing to the increased sharing of the sensitive personal data of consumers, there is also need to test the POPIA’s conformity with the strict European Union GDPR personal data protection guidelines.