It covers the following:

1. Identification

2. Ownership and Management

3. Business Information

4. Compliance Information

5. Financial Information

6. Other Information

The Mansa Repository Platform is an all-Africa primary source of Customer Due Diligence data platform including Financial Institutions, Corporates and SMEs.

MANSA provides three (3) key services:

1) CDD Customer Due Diligence (CDD) which provides a single source of primary data for conducting customer due diligence checks on counterparties in Africa: financial institutions, corporates, and SMEs.

2) Investing in Africa which provides a one-stop portal to learn about Africa and information on investment climate and economic profiles, key industry, traded products and services regarding African countries.

3) News and Events which provides news and information on events and publications about trade and KYC/CDD on Africa and African entities.

The MANSA Repository contains standardized Know-Your-Customer (KYC) information required to conduct Customer Due Diligence (CDD) checks on financial institutions, corporates and small and medium-sized enterprises that are registered or operating in Africa.

The information contained in the repository covers the following categories:

a. Identification: Identification information including country of registration, registration particulars, certificate of registration, certificate of incorporation, operating license, etc.

b. Ownership and Management Information: Shareholding and management structure, details of shareholders, ultimate beneficial owners, board members, key management staff, etc.

c. Business Information: Nature of business, products and services offered, countries of operation, key suppliers, etc.

d. Compliance Information: Anti Money-Laundering Policies, Anti-bribery and Anti-corruption declaration, etc.

e. Financial Information: Annual Reports, other relevant financial information, etc.

f. Other Information: Industrial/sector group memberships, credit ratings, etc.

MANSA workflow includes the following user roles which are: Contributors, Verifiers, and Subscribers.

. Contributors are African Financial Institutions, SMEs and Corporate Entities who register and upload their information on the MANSA repository using standardized KYC/AML templates.

. Verifiers are entities who independently conduct verification of the CDD information uploaded by a contributor and these include regulators, recognized law/audit firms, credit bureaus and other government bodies and registries.

. Subscribers are consumers (individual or corporate) who subscribe to have access to primary data for the purpose of conducting KYC and Customer due diligence checks on counterparties and/or to explore investment information and reports on African Corporates, SMEs and African Financial institutions for investment and trade purposes.

All permissions within MANSA are role-based permissions.

The Mansa Platform aims to promote intra and extra African Trade by providing information on trade counterparties.

There are different access levels to the Mansa platform, while general information is available on the Home Page of the Platform, anyone including organizations can subscribe/register as either Contributor, Agent, Verifier or Subscriber. Registration into the platform is accessed through www.mansaafrica.com 

There is no charge for contributing your organization’s information on the MANSA Repository.

Subscription to access KYC information and information for invest in Africa, can either be on an ‘annual subscription’ basis or ‘pay-per-use’ basis. The pricing structure is available on the website.

MANSA Repository is a web-based digital platform and does not require terminals or special software. The repository is compatible with Internet Explorer version 8 or higher, Firefox, Chrome, and Safari.

Yes. The MANSA Repository is accessible on mobile devices. The MANSA Repository can also be accessed through the MANSA Repository Mobile App.

One can register as a contributor or subscriber on the MANSA Repository by clicking on the ‘Register’ button at the top of the Webpage. You will then be directed to a registration page. Once you submit your registration details, you will receive an email notification to activate your account.

The MANSA Repository team maintains the appropriate technical and organizational measures to protect data in the repository against accidental or unlawful destruction, accidental loss, alteration, unauthorized disclosure, or access

While all the information on Mansa will be reviewed annually, Contributors of information on Mansa Repository Platform will update information as and when there are any changes.

The MANSA Repository has controls in place that are designed to ensure adequate security, covering asset management, human resources security, access control and application security, system operations and management, networks and communications, security incident management, business continuity management etc.

Access to the MANSA Repository is password-protected. MANSA Repository users will be able to control access to their information. The Repository incorporates audit trails.

The MANSA Repository undergoes regular information security audits and reviews to ensure that information stored in the repository are safe.

A subscriber can access Mansa Repository to the end of their chosen subscription period.

The platform has put in place a verification structure whereupon several parties including auditors, regulators and industry bodies and Mansa agents are registered for verification roles.

If the Verifier is a regulatory body, the information contributed is verified within 2 days after the submission.

If the Verifier is a private entity the information contributed is verified within 2 hours after the submission.

If the report is updated, the subscriber must go back to the platform to review the profile to check any update.

YES. If the profile is updated and the subscriber needs to get it, this profile will be counted in the subscriber’s pack.

It should be noted that contribution to the Mansa Platform by various contributors is voluntary implying that every organization should fulfil internal clearance procedures to onboard the Mansa Platform. The platform also has capabilities of masking specific information which can only be accessed upon clearance from the contributors.

Customer Due Diligence (CDD) and Enhanced Due Diligence (EDD) are two common KYC processes.

CDD is the basic level of scrutiny for an onboarded customer, while EDD is the level of scrutiny that your institution might bring to a PEP, a customer doing business in a country without adequate AML standards, or someone unverified by CDD alone.

EDD means gathering extra information from clients with a high-risk rating. Companies performing financial activity have been conducting EDD policies since the launch of the USA PATRIOT ACT (Uniting and Strengthening America by Providing Appropriate Tools Required to Intercept and Obstruct Terrorism Act).

To understand the differences between CDD and EDD we must know that:

. EDD rules are more reliable and efficient, as they demand more proof and detailed information.

. The sources of the EDD information should be scrutinized for their reliability.

. When conducting EDD, one should consider all the kinds of information, including adverse evidence as it can influence the overall risk rating.

. Just like in the KYC procedures, if anything suspicious is detected, a company or institution should report it immediately to the regulatory bodies.

Indeed, individual country projects can be explored with specific national bodies with a view to strengthen national reporting infrastructures.

Yes. MANSA does organize training for users:

. MANSA uses train the trainee, train the trainer model.

Depending on the size of the organization the training may be conducted:

. On site.

. Online training using the MANSA Verifier and Contributor manuals.

KYC (Know your Customer) is the process of a business verifying the identity of its clients and assessing the potential risks of illegal intentions for the business relationship. Banks and other companies verify clients’ information to ascertain that it is safe to establish relationships with them. Companies from all the industries and of all the sizes perform KYC as a means of anti-bribery.

KYC is needed for understanding clientele better, monitoring financial transactions and preventing bribery and corruption. KYC checks are done at the first stage of establishing business relations when we vet the potential clientele.

CDD (Customer Due Diligence) is an ongoing control of suspicious activity aimed at laundering the proceeds of crime. It aims at collecting data about customers’ identity and contact information as well as measuring their risk.

Both are integral parts of AML (Anti-Money Laundering) programs.

AML (Anti-Money Laundering) is defined as a system of legislation and regulations aimed at preventing money launderers from taking illegal actions. Money laundering goes hand in hand with terrorist financing.

The ideology of CFT (Combating the Financing of Terrorism) is to investigate, analyze, deter and prevent sources of funding for activities aimed at achieving political, religious, or ideological goals.  

The important difference between AML and CFT lies in the intention of both.

AML actions aim to prevent and combat cleaning gains and money from illegal activities. 

Another difference is the source of funding.

Money laundering always involves the proceeds of illicit activity.

Terrorist financing implies using sources to meet illegal political purposes but not necessarily with the money generated in an illicit manner.  

The practice of combating money laundering dates to 1989 when G-7 Summit decided to establish the FATF (Financial Action Task Force).

These are the Indicators or “red flags” showing that EDD is required:

. High-risk location of the customer.

. Risky type of transactions.

. Unexpected pattern of activity (transaction types, frequency of transactions).

. Unexpected method of payment.

. Data matching with PEPs or other watchlists.

. Identity verification for the person who’s opening the account: ensuring they are who they say they are.

. Customer due diligence: determining the risk of doing business with this individual.

. Ongoing monitoring of the account.

And there are KYC requirements on a business-to-business level:

. Business verification: is the company a real business entity?

. Customer due diligence: determining the risk factors for engaging a company.

. Continuous monitoring of the business and its accounts.

Designated Compliance Officers to oversee the implementation of KYC and Anti-Money Laundering (AML) standards. Their responsibilities include ownership of the system and ensuring that processes are followed and updated in accordance with regulatory requirements.

KYC compliance is required by law around the world.

. Easier to track suspicious transactions based on customer profiles.

. Gives a clear idea of the Ultimate Beneficiary Owners (UBO) of organizations.

. Helps to scan through Politically exposed Persons (PEP) and Head of International Organizations (HIO) lists with existing KYC records of customers.

. Ensures a healthy and smooth customer experience, as "trust factor" increases.

. A systematic way of ensuring safer business relationships with customers.

. Helps safeguard your reputation and establish international credibility with your competitors and your customers.

KYC compliance helps in preventing:

. money laundering as it ensures detailed scrutiny of suspicious transactions and helps to identify the Ultimate Beneficiary Owner (UBO) to whom the ultimate funds reach.

. fraud and other crimes by preventing flagged individuals from compromising a financial ecosystem and providing fewer avenues for criminals to launder their money.

PEP stands for politically exposed person. PEPs are noteworthy politicians, judicial officials, military leaders, and senior executives and party members — people whose power and position exposes them to bribe attempts and unsavory businesses offers, and their immediate family and associates.

PEPs are more likely to be classified as high risk, but they are not automatically classified as high risk.

Not for now. It is planned to be available in MANSA Phase II.

Not for now. They are planned to be available in MANSA Phase II.