Experience

Corporate legal and advisory services across Africa

The members of our team have advised on transactions in more than 40 jurisdictions in Africa which gives us a distinct advantage when advising on cross-border transactions and transactions in Africa generally.

Note: some of the experience marked with an asterisk (*) relates to past experience of individual team members prior to joining Africa Solved.

Mergers and acquisitions

We have a full-service M&A practice, advising clients on all forms of domestic and cross-border M&A transactions, including joint ventures and greenfield projects.

Our experience includes:

  • Santam – advising Santam-SI on strategic issues and on its various investments in the financial services sector in South Africa, including acquisitions and disposals, joint ventures, portfolio transfers and UMAs.
    M&A / financial services / South Africa

  • Aprica – advising Aprica Investments (a subsidiary of Swan General Insurance, the listed insurer in Mauritius) in relation to several investments in various African jurisdictions, including its investment in BK General Insurance Limited in Rwanda.
    M&A / financial services / cross-border

  • RMB-SI Investments – advising management of RMB-SI Investments in relation to the disposal of their shares in RMB-SI Investments and the re-investment of their sale proceeds in RMB-SI Investments pursuant to the sale of 100% of the ordinary shares by RMI Holdings and New Seasons Financial Services amongst others to Santam Limited.
    M&A / financial services / South Africa

  • Barclays Africa – expansion of its Africa operations through greenfield expansion and various investments, including the acquisition of First Assurance with operations in Kenya and Tanzania, its acquisition of Global Alliance Seguros in Mozambique, its proposed acquisition of Bank Windhoek in Namibia and its disposal of Banco Comercial Angolano. *
    M&A / financial services / cross-border

  • Econet Media – partnership with iFlix Africa to establish a Subscription Video on Demand (SVoD) service with Kwesé a subsidiary of Econet Media.
    M&A / telecoms / cross-border

  • Confidential – advising a large fast-moving consumer goods manufacturer with operations in Zambia, the DRC, South Africa, Zimbabwe, Malawi and Mozambique in relation to is group reorganisation and ongoing strategic advice relating to investments and disposals of key assets.
    M&A / consumer goods / cross-border
  • HBW Group – in relation to various acquisitions and disposals in the property sector, including its disposal of a retail asset in South Africa which was the largest recent single asset property transaction in South Africa.
    M&A / property / South Africa
  • FirstRand – acquisition of an interest in a Mozambican bank (now FNB Mozambique); the establishment of various greenfield African banking operations, including in Zambia and Tanzania; its proposed acquisition of Finance Bank Zambia and its proposed acquisition of Sterling Bank Plc, a Nigerian banking group.
    M&A / financial services / cross-border
  • RMB Westport – in relation to an offshore funding structure to be implemented across its portfolio of retail assets on the continent.
    M&A / property / cross-border
  • Confidential – advising the investment arm of a Mauritius listed financial services company in relation to its investment in an insurance group with operations in Zimbabwe and Zambia.
    M&A / financial services / cross-border
  • Smile Telecoms – debt and equity raising to fund its operations in Tanzania, Uganda, Nigeria and the DRC. *
    M&A / telecoms / cross-border
  • Minor – acquisition of a portfolio of African hotel assets from Sun International Limited in Zambia, Namibia, Botswana, Lesotho and Swaziland. *
    M&A / hospitality / cross-border
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Private equity and fund raising and establishment

Private equity and venture capital has been a key driver to growth and investment on the continent. We are experienced in structuring private equity funds and advising on investments in and divestments from portfolio entities. We provide a holistic service from investment to exit.

Our experience includes:

  • Fund raising and establishment – advising various private equity funds and other pooled investment vehicles with a focus on Africa in relation to their fund raising and establishments and ongoing fund related matters, including Harith (manager of the Pan African Infrastructure Development Fund), Catalyst, Ascent, AFIG, Agis and AgriGroupe (now Fairfax Africa). *
    private equity / various / cross-border

  • Agis Ventures – advising Agis Ventures, a section 12J venture capital company, on its investments in various portfolio entities in the FMCG sector in South Africa.
    private equity / FMCG / South Africa

  • Phatisa – advising Kanu Equipment on its expansion in East Africa. Phatisa is the majority shareholder of Kanu Equipment and the manager of the African Agriculture Fund.
    private equity / agriculture / cross-border

  • Ascent Rift Valley Fund – advising Ascent Rift Valley Fund on various acquisitions in the SME space in East Africa.
    private equity / various / cross-border

  • Convergence Partners – Africa’s largest ICT infrastructure fund, on its investment in Venture Gardens, a Nigerian TMT business. *
    private equity / technology / Nigeria

  • Confidential – advising the investment arm of a Mauritius listed financial services company in relation to its proposed co-investment with a private equity house in an insurance company in Côte d’Ivoire.
    M&A / financial services / cross-border
  • Aureos Capital (now The Abraaj Group) – an emerging markets investment fund, in relation to various debt and/or equity investments in various jurisdictions in Africa. *
    private equity / investments / cross-border
  • AfriCap – a Mauritius based investment fund, in relation to its structure and other corporate matters and its investments in various jurisdictions in Africa, including Madagascar, Malawi, Mozambique, Nigeria, Senegal, Sierra Leone and South Africa. *
    private equity / financial services / cross-border
  • Elephant Group – capital raising by way of issue of shares to AfricInvest, a leading private equity firm in North and Sub-Saharan Africa. This transaction was the first private equity investment in the Nigerian agricultural commodities sector with operations in various African jurisdictions. *
    private equity / agriculture / cross-border
  • Advanced Finance and Investment Group – the sponsor to the world's first Francophone West African private equity fund in relation to all aspects of the fund raising and establishment. *
    private equity / fund raising and establishment / cross-border

Project development and project funding

We have extensive experience in advising project sponsors and funders in relation to projects throughout Africa.  We assist in the structuring of projects and regularly compile risk matrices which identify the risks of the project from inception to completion.  We then recommend appropriate mitigation mechanisms based on our experience in the relevant jurisdiction.

Our experience includes:

  • Harith – as manager of the Pan-African Infrastructure Fund in relation to various transactions, including its investment in the Lake Turkana Wind project in Kenya and its Abidjan Bridge Project in Côte d’Ivoire. * Most recently we advised on its acquisition of a significant share in Sheltam Rail which is based in Mauritius with operations in South Africa, Mozambique and DRC.
    projects / infrastructure / cross-border

  • Confidential – advising a South African project sponsor in relation to its investment in a forestry plantation and subsequent development of a biomass power plant.
    projects / agriculture and energy / cross-border

  • Northwest Rail – joint venture with Grindrod for the construction of a railway line from the Zambian Copperbelt to the Angolan border. This project was awarded the Best Infrastructure Project for 2014 at the Transport Africa Awards. *
    projects / infrastructure / Zambia

  • IFC – various investments and disposals in South Africa and the rest of Africa, including in relation to its investment in Sasfin, Portucel (a Portuguese listed company) as sponsor of an integrated plantation forestry project in Mozambique and its investment in Access Bank Ghana. *
    projects / financial services and agriculture / cross-border

  • PPC – a South African listed cement producer, on the establishment of its DRC operations, including in respect of the investment structure, shareholder arrangements and project finance related issues. *
    projects / manufacturing / cross-border

Equity capital markets

We advise on IPOs, rights issues, secondary offerings, private placements and other equity-linked matters.

Our experience includes:

  • Confidential – advising the investment arm of a Mauritius listed financial services company in relation to its potential investment in a listed insurance company in Nigeria.
    ECM / financial services / cross-border

  • HBW Group – disposal of a retail property asset in Zambia to African Land Investments Limited and the proposed listing of African Land Investments Limited as a Real Estate Investment Trust on the Johannesburg Stock Exchange and the Lusaka Stock Exchange.
    ECM / property / cross-border

  • AgriGroupe (now Fairfax Africa) – acquisition of the entire issued ordinary share capital of AFGRI, an African agribusiness company listed on the JSE. *
    ECM / agriculture / cross-border

  • Confidential transaction – advising a large Nigerian corporation in the agricultural and chemical sectors relation to its proposed primary listing on the NSE and secondary listing on the JSE. *
    ECM / agriculture / cross-border

  • Confidential transaction – advising a Mauritius based sponsor in relation to its proposed take private of a Zimbabwean listed company and in relation to its investment in a Zambian listed company.
    ECM / financial services / cross-border

  • Zeno Capital – advising Zeno Capital, an alternative investment fund listed in the BVI with assets in South Africa, Europe, the United Kingdom and the United States in relation to various ongoing listings and regulatory issues.
    general counsel / various / cross-border
  • FirstRand – proposed acquisition of Nigeria’s Sterling Bank. *
    ECM / financial services / cross-border
  • Econet – a telecommunications group with a Zimbabwean listed subsidiary in respect of its proposed listing on the London market. *
    ECM / technology / cross-border

Regulatory, and role of general counsel

We have extensive experience of regulatory matters affecting international corporates (including financial services and TMT) and often engage with regulators in different African countries on behalf of our clients. 

Our experience includes:

  • Section 12J Venture Capital Companies – advising on the establishment and management of venture capital companies under section 12J of the South African Income Tax Act.
    regulatory / venture capital / South Africa

  • Barclays Africa / Absa – review and analysis of the regulatory and compliance framework in various African jurisdictions in the context the acquisition of store card and loyalty programme. *
    regulatory / financial services / cross-border

  • Seacom – telecommunications-related advice in various jurisdictions, including applicable TMT legislation, local participation requirements and competition law issues. *
    regulatory / technology / cross-border

  • Confidential – advising various large international financial institutions in respect of setting-up or acquiring operations in several African jurisdictions. *
    regulatory / financial services / cross-border

  • Santam SI Investments – advising on ongoing regulatory and compliance matters in relation to insurance law, company law and financial services regulations.
    regulatory / financial services / South Africa

Role of general counsel

We currently act in a general counsel capacity for a number of our clients to provide on-going support and to supplement their internal legal capabilities as necessary.  This includes providing support on general corporate work, corporate governance related issues, company secretarial services and ad hoc legal queries.  

Our experience includes:

  • Santam SI Investments – acting as general counsel (including company secretary) for Santam SI Investments and its group companies.
    general counsel / financial services / South Africa

  • Agis – acting as general counsel for the Agis Group of companies on regulatory matters, corporate governance, company secretary, compliance, acquisitions and disposals and ongoing commercial matters.
    general counsel / various / South Africa

  • Ascent Rift Valley Fund – acting as general transaction counsel to the manager of Ascent Rift Valley Fund which is a private equity fund with a focus on acquisitions in East Africa.
    general counsel / various / cross-border

  • Confidential – acting as general transaction counsel for the investment arm of a Mauritius listed financial services company with a focus on acquisitions on the continent.
    general counsel / financial services / cross-border

  • Zeno Capital – acting as general counsel for Zeno Capital, a BVI listed alternative investment fund with assets in South Africa, Europe, the United Kingdom and the United States.
    general counsel / various / cross-border