Clifford Chance

Our experience includes advising:

• the lenders on all financing aspects in relation to lots 15 and 18 of the Kenya Annuity Road Programme
• the 500 MW Corbetti geothermal IPP and the 500 MW Tulu Moye geothermal IPP (Ethiopia)
• the sponsor in relation to the development of a 105MW peat-fired power station in the Akanyaru valley (Rwanda)
• 'a consortium of investors strategically on their bidding process for the landmark Kampala Jinga Expressway Project'

Our experience includes advising:

• Blackrock's Climate Finance Partnership (CFP) on its investment into the Lake Turkana Wind Power Project in Kenya
• Actis on the US$1 billion sale of Africa's second largest renewables company, BTE Renewables ('BTE'), to Engie and Meridiam
• Actis' exit from Creditinfo Group, an emerging markets credit referencing business with operations in 4 continents including Africa (Kenya, Tanzania, Morocco, Mali and others).
• The Carlyle Group in acquiring majority stake in East African pharmaceutical leader
• Medical Credit Fund on the establishment of MCF II, its second fund fully dedicated to the African health sector
• AIIM on their investment in BBOXX, an off-grid solar solutions specialist company with operations in Kenya, Rwanda and the DRC
• Mitsubishi on a US$50 million investment into next generation utility company BBOXX
• On the formation of Zoscales Partners' second fund which is targeting US$175 million for investment in East Africa
• On the US$1.25 billion acquisition by Ophir Energy of a 20% stake in three gas blocks offshore Tanzania
• On the acquisition of a 42% stake in Orient Bank in Uganda alongside a consortium principally comprised of a founder of the bank

Our experience includes advising on:

• Sun King's securitisation arranged by Citi with Standard Bank Group as co-placement agent to fund Kenya's off-grid solar sector
• the issuance of Kenya's US$2 billion Eurobond to be listed on both the Irish and London stock exchanges and to be sold in two tranches of 12 and 31 years.
• the EUR334 million MIGA-backed financing to support the Eastern and Southern African Trade and Development Bank's (TDB)  trade finance business in its member states
• the launch of the world's first sovereign blue bond by the Republic of Seychelles
• the mandated lead arrangers in relation to a US$800m syndicated medium-term loan facility for the government of the Republic of Kenya
• the Eastern and Southern African Trade and Development Bank's (TDB) establishment and update of its US$1bn EMTN programme, including a US$300m combined new issuance and liability management exercise
• the lenders in connection with the US$400m refinancing of the 250MW Bujagali hydro project (Uganda)
• the US$865 million financing for Ethiopian Railways Corporation for the purpose of funding the construction of the first section of the Awash-Weldia/Hara Gebeya Railway Project.

Our experience includes:

• Representing an international private equity fund in a shareholder dispute concerning an investment in East Africa
• Representing Pacific Wildcat Resources Corp and its subsidiaries Cortec Mining Kenya Limited, Cortec (Pty) Limited and Stirling Capital Limited in an ICSID investment treaty arbitration against the Republic of Kenya.

• Ethiopia: a new commercial code
  10 February 2023
  Client Briefing
• Ethiopia's New Investment Framework – The Regulation
  15 January 2021
  Client Briefing
• Ethiopia's new investment law – what does it mean for foreign investors?
  29 April 2020
  Client Briefing
• Rwanda – Where minority shareholders have a major right
  19 January 2018
  Client Briefing

We are recognised every year as international experts in the Chambers rankings for Kenya, Rwanda, Ethiopia and Uganda. 

• Daniel Mutisya co-chairs the East Africa practice of Clifford Chance LLP. Based in London, Daniel Mutisya is qualified both in England and Wales and in Kenya. He is particularly experienced in advising on market exits and auction sales. 
  "Daniel is very solid and capable and a lovely guy to work with."
  "He has an enviable knowledge of the challenges and solutions for successful acquisitions and disposals in East Africa."
  Chambers Global – Corporate/M&A (Expertise Based Abroad) – Recognised Practitioner in Kenya, 2023, 2024
• London-based Jennifer Chimanga co-heads the firm's East Africa practice, providing guidance and advice on inbound investments and M&A transactions. A dual-qualified lawyer in Kenya and in England and Wales, she is particularly active in the technology sector. 
  "Jennifer Chimanga has in-depth knowledge and business acumen concerning East Africa."
  Chambers Global – Corporate/M&A (Expertise Based Abroad) – Recognised Practitioner in Kenya, 2021 - 2024
• London-based Jennifer Chimanga has a strong focus on the technology and telecoms sectors, handling a broad range of commercial and regulatory matters. She co-heads the Africa practice at Clifford Chance and is especially noted for her work concerning Kenya and East Africa.
  "Jennifer is a thorough and pragmatic lawyer."
  "She is absolutely fantastic."
  Chambers Global – Africa-wide – Corporate/M&A & Private Equity, 2024
• Clifford Chance is an acclaimed international law firm distinguished for its involvement in business law matters in Rwanda and throughout Central and East Africa. Its experience features capital markets-related mandates, as well as cross-border transactions and foreign investments into the region. Its lawyers are also well equipped to handle international arbitration proceedings involving Rwandan entities. The law firm's Rwanda expertise is largely derived from its East Africa practice group based in its London office. Sources note that "The lawyers are commercially aware and are able to balance risk and reward in their transactional advisory work.“
  Chambers Global – General Business Law (Expertise Based Abroad) – Only international law firm ranked in Rwanda, 2021 - 2024
• Clifford Chance is a highly regarded player in the Ethiopian legal market, and routinely acts on a variety of corporate and commercial concerns. The firm houses experts in M&A, private equity and project finance, with particular expertise in energy and agribusiness-related projects. "They're very experienced, they are proactive, they are very professional."
  Chambers Global – General Business Law (Expertise Based Abroad) – Only international law firm ranked in Ethiopia, 2021 - 2024 
• Clifford Chance is a high-profile multinational law firm with widely recognised expertise in Uganda, particularly out of its London office. The firm is regularly sought out for its handling of projects-related mandates, notably acting for lenders and sponsors on the financing and development of projects in the traditional and renewable power sectors, as well as infrastructure. Additionally, it regularly acts for international companies on acquisitions, investments and divestitures in the jurisdiction. The firm also has demonstrable proficiency in cross-border transactions through its dedicated East Africa practice group. "The firm is highly responsive to client requirements and is good at steering complex transactions involving multiple jurisdictions."
  Chambers Global – General Business Law (Expertise Based Abroad) – Only international law firm ranked in Uganda, 2021 - 2024

• Private Equity Deal of the Year 2024 – MTN/Bayobab – Africa50 East2West Partnership – IFLR Africa Awards
• Financial Institutions/Bank Bond Deal of the Year 2024 – Mauritius Commercial Bank USD 300m Notes Issuance – Bonds, Loans, & ESG Capital Markets Africa Awards
• Loans Deal of the Year 2021 – Trade and Development Bank Pandemic Relief Loan – IFLR Africa Awards
• African Refinancing Deal of the Year 2018 – Bujagali Hydropower Project, Uganda – IJ Global Awards
• African Power Deal of the Year 2017 – Hakan Peat-Fired, Rwanda – IJ Global Awards
• EMEA Deal of the Year 2015 – Kenya Airways ECA-backed aircraft financing, Kenya – Trade Finance
• Debt Deal of the Year 2015 – Ethiopian Railways Corp Financing, Ethiopia – African Banker

• Daniel Mutisya promoted to director and co-head of the East Africa practice
• Where Diverse Minds Meet with Danny Mutisya
• The Smarts with Jennifer Mbaluto