ALN

Capital markets play a vital role in mobilising large-scale, long-term finance on the continent, while regionalisation and the emergence of financial hubs in sub-Saharan Africa encourage market momentum.

African countries are accelerating their economic development to meet the expectations of their populations, and financial institutions play a pivotal role in this process. Financing innovations are delivering fast sustainable growth to businesses and individuals and capital markets complement bank financing to provide large-scale and long-term solutions.

A key player in the African capital markets landscape, ALN provides a wealth of knowledge and expertise in a complex regulatory environment.

Our lawyers understand the complexity of regulation and are well placed to advise both foreign and local clients on the listing process and relevant regulatory processes. Our capital markets practice has acted for a range of local and international listed companies, lead managers and financial advisers throughout the Continent.

Principal Areas of Practice:

  • IPOs (including cross-listings)
  • Listed REITS
  • Private placements
  • Regulatory engagement
  • Rights issues and other equity issues
  • Sovereign and other debt issues

Representative transactions include advising:

Our representative matters in this sector include:

  1. National Government of Kenya (GOK)

    In connection with the issue of its USD 2 billion Eurobond – the largest sovereign debut debt issue in Sub-Saharan Africa to date and the 2014 African Deal of the Year at the Global Capital Emerging Markets Bond Awards – as well as its subsequent USD 750 million tap.

  2. Equity Group

    The largest commercial bank on the African continent by number of customers and traded on the Nairobi Securities Exchange, in connection with its cross listing on to the Rwanda Stock Exchange.

  3. Umeme

    The largest electricity distribution company in Uganda and publicly traded on the Uganda Securities Exchange, in connection with its cross listing onto the Nairobi Securities Exchange.

  1. Bharti Airtel and Airtel Africa

    a subsequent initial public offering.

  2. Old Mutual

    In connection with the delinking of its operations in the northern hemisphere and the southern hemisphere, including creating of a new entity to be listed on the Johannesburg stock exchange with secondary listing in Malawi, Namibia and Zimbabwe for the southern hemisphere, as well as the delisting of one entity and listing of another on the Malawi stock exchange.

Expertise

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Consumer Products
Our legal experts assist clients in navigating the intricate and complex consumer protection environment in Africa.
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Financial Institutions
We provide a variety of legal services to financial institutions and investors, including banks, insurance companies, microfinance enterprises, development funds, government entities and financial regulators.
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Government and Public Sector
Our familiarity with government processes and procedures in Africa is unparalleled. It is for this reason that we are often consulted by both governments and private institutions to lead negotiations.
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Energy
Access to affordable energy for industry as well as consumers is one of the key rivers of economic and social development in Africa. While historically many countries have relied on fossil fuels as the primary source of energy, increased concerns around climate change and sustainability...
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Food and Agriculture
ALN firms believe that the growth in the agriculture sector has a direct bearing on economic development. Agriculture is key to many economies in Africa, and an essential for domestic food sustainability.
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