In global business, entering fresh markets can mean big expansion. Yet, these markets often come with tough rules. Many CEOs see the following rules as key to doing well, especially with finance tech growing in Africa and digital tech growing in Southeast Asia. To handle the unclear conditions, leaders are adding rules to their business plans. This report, using recent interviews and info, looks at how leaders are dealing with rules. Their stories prove that meeting requirements makes trust, opens doors, and helps ensure lasting business success.
The Shifting Sands of Regulation
Emerging markets face regulatory issues due to inconsistencies between local laws and global standards, along with unpredictable enforcement. For example, Kenya’s early focus on governmental control after independence hindered citizens’ access to formal finance. As economies become increasingly digital, company leaders must now address data privacy and anti-money laundering efforts.
Cryptocurrency is seeing increased acceptance, especially for cross-border transactions. Crypto platforms frequently operate internationally under licenses from regulators like Curacao or the Malta Gaming Authority to comply with AML and KYC standards. To balance privacy with regulatory requirements, some platforms permit anonymous usage. To address this, we need to use very specific methods. For example, a crypto casino guide shows how these sites check licenses, make sure games are fair using blockchain tech, and use security like encryption. This helps them follow international rules and serve different customer groups.
The 2022 EY Global Integrity Report says that around 62% of executives find it hard to stick to ethical standards when things change quickly, like during the pandemic. Also, 38% say they’ve had regulatory fines for not following the rules.
Fragmented Rules: A Barrier or a Blueprint?
The real headache? It’s an inconsistency. In the Middle East and Africa (MEA), payment rules change a lot from country to country. This makes it hard for new digital companies to get started. Samer Soliman, who is in charge of AFS, a big payment company, calls it a complex and fragmented situation that needs special solutions. He says they change what they offer to fit the different rules in each market. He also says it’s important to work with the people who make the rules to get more people using digital payments. Soliman’s way of thinking shows what’s important for a CEO: view the rules as a guide, not something to be afraid of. If companies invest early in local partnerships, they can turn possible problems into ways to get into the market faster.
This problem isn’t just in MEA. CEOs in Latin America and Asia say they have similar issues – changing tax rules for money moving between countries and stricter rules for reporting on things like the environment and how they treat people. However, as Soliman points out, the ones who deal with these complex issues show they can do it, which gets them more investors and users.
Lessons from the C-Suite: Stories of Resilience
What do these challenges look like up close? Let’s hear from CEOs who’ve been in the trenches.
James Mwangi: Breaking Barriers in East Africa
James Mwangi, Equity Bank Kenya’s CEO, knows compliance well. In the 1980s, he noticed that rigid rules prevented many from accessing basic banking due to excessive paperwork that excluded many. Now, Mwangi has grown Equity into a leader in financial inclusion, serving over 15 million customers. He feels that protective regulations often hinder banking access for the poor. In a Harvard Business School interview, he noted that compliance demands were a key barrier to account openings.
Mwangi’s approach is to push for changes while creating compliant systems that can grow. Equity’s move to mobile banking, which followed Central Bank rules, grew a lot during COVID-19. This shows that it’s not just smart to match new ideas with rules, but it’s also needed to stay alive in changing markets.
Richard Teng: Compliance as Crypto’s Secret Weapon
Richard Teng of Binance believes regulatory compliance drives growth. After initial issues, Binance secured licenses like the one in Dubai, expanding into the Middle East and North Africa. In 2024, Binance gained 45 million users and saw a 33% increase in assets due to work by Richard Teng, while also exceeding standards for anti-money laundering and customer verification.
Teng points out that in new markets, crypto helps people send money to each other. Because of this, he says it’s important to do more than what’s expected for the people who use their services. This is something all leaders can learn from. In areas where there’s a lot at stake, being serious about following the rules isn’t just about spending money. It’s what keeps them safe from others trying to do the same thing.
Broader Wisdom: From Payments to Integrity
Soliman’s opinions on the Middle East and Africa are applicable to different fields. In an interview, he said it’s vital to work with regulators to improve digital payments, so compliance becomes a team effort. Studies show that while 97% of leaders say integrity is important, 52% admit they are tempted to make unethical choices for quick gains. Currently, many CEOs are tying bonuses to ethical standards and promoting open talks to fix problems quickly.
Strategies That Stick: Beyond the Basics
Dan Storey suggests CEOs go beyond basic compliance to stand out. He advises including regulatory reviews during R&D, like Tesla did with emission standards. When entering fresh markets, hire local talent to grasp the nuances and employ AI for ongoing monitoring.
Storey pushes for a company-wide compliance focus, not just within the legal team. Certifications like ISO standards prove dependability and ease market entry. Bear in mind partnerships, too: Since most leaders expect higher ethical conduct, honest reporting builds trust.
Crypto’s Compliance Frontier: A High-Stakes Playground
Digital assets are creating excitement in emerging markets that want borderless finance, like cryptocurrency remittances in Nigeria or DeFi in Indonesia. There are big opportunities, but also anti-money laundering rules, stablecoin regulations, and unclear tax issues. Teng and other CEOs show that understanding these rules is key to expansion, but new participants need guidance to begin.
Charting the Path Forward
In developing markets, CEOs view compliance as an opportunity for growth. Mwangi, Soliman, and Teng suggest that by seeing regulations as helpful, companies can innovate, gain trust, and grow. Some reports advise aligning actions with words by focusing on people and ethics. Storey’s concept of using compliance to gain a competitive edge is key to preparing for the future. With digital tech expanding in 2025, honest leadership and swift change are essential for business success. Leaders should consider how to leverage compliance for their benefit.
