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Banking & Finance

Banks and Non-Bank financial institutions play a pivotal role in the economy by providing financial services and products.

They require solid advice on transactions, product formulation and implementation, compliance with regulatory requirements and complexities. It is vital that the lawyers representing Banks and Non-Bank Financial Institutions are widely experienced and commercially focused. AF Mpanga is exceptionally placed to provide the advice required in these aspects.

Our team has decades of experience in advising both local and foreign clients on banking and finance matters. Our clients include local banks, banks with branches and offices across East Africa, regional development banks in the Americas, Europe, Asia, and the Middle East, sponsors, governments, and funds.

The firm routinely advises on syndicated lending, project finance, asset financing, trade and commodity finance, acquisition finance, real estate finance, corporate finance, fund financing, and leveraged finance. We help clients navigated the complex regulatory regimes, assist clients in compliance. We have excellent working relationships with regulators to help clients unlock regulatory hurdles.

  • Retained Counsel to the Central Bank of Uganda whom we recently acted for in a suit worth USD 96 Million against the shareholders and directors of a Bank in receivership pertaining to non-compliance with the Financial Institutions Act, 2004 and corporate governance principles.
  • Company Secretary to Citibank Uganda Limited whose Board and management we act for and advise in matters of regulatory compliance.
  • Retained Counsel to Stanbic Uganda Limited, dfcu Bank Uganda Limited, NCBA Bank Uganda Limited, Equity Bank Uganda Limited and Absa Bank Uganda Limited whom we routinely advise on various regulatory matters and assist in the negotiation of facilities as well as the drawing and perfection of securities.
  • Advised Stanbic Bank Uganda Limited on a USD 20M Facility to Crown Beverages Limited.
  • Advised Standard Chartered Bank on a UGX 310 Billion Facility to Rwenzori Bottling Company Limited.
  • Advised Stanbic Bank Uganda Limited on the USD 20M Facility to Ubuntu Towers.
  • Advised Citibank Uganda Limited on a USD 20M Facility to Crown Beverages Limited.
  • Advised Citibank Uganda Limited on a USD 10M Facility to Roofings Limited.
  • Advised Nederlandse Finnacierings- Maatschappij voor Ontwikkelings-Landen N.V (FMO) in relation to a US$ 15,000,000.00 financing to dfcu Bank Limited.
  • Advised the European Investment Bank (EIB) in relation to a EUR 40,000,000.00 financing to dfcu Bank Uganda Limited.
  • Advised Citibank and the East African Development Bank on the restructuring of a credit facility advanced to a leading manufacturer in Uganda amounting to an aggregate principle sum of US$16,000,000.
  • Acted as local Counsel for Standard Chartered Bank Plc with respect to a proposed loan facility of US$ 45,000,000.00 to Airtel Uganda Ltd.
  • Acted as local Counsel for Wananchi Group Holdings Limited in respect to financing by OPIC in a facility amount of US$ 82,000,000.00
  • Recently advised Global Partnerships LLC in its US 4,000,000 lending to Fenix International.
  • We recently advised Uganda Development Bank Limited on a loan facility of US$ 1,500,000 to M/s Jinda International Textiles Corporation Limited.
  • Advised Gulfstream Investments (U) Ltd on the acquisition of a medium-term facility of US$ 20,600,000.00 from Stanbic Bank (U) Ltd.
  • Advised Citibank (U) Ltd on a syndicated loan to a leading manufacturer in Uganda amounting to an aggregate principal sum of US$115 million.
  • Conducted a comprehensive review and standardization of security documents for dfcu Bank Limited, Orient Bank Uganda Limited and Tropical Bank Limited.
  • Advised the Islamic Corporation for the Development of the Private Sector (“ICD”) on a proposed line of finance structure to Uganda Development Bank Limited under the recently passed Islamic Finance law of Uganda. The line of finance was estimated at USD 20,000,000.
  • Advised the Bank of Uganda and GIZ on the reformation of the legal and regulatory set up of the Credit Reference Bureau in Uganda.
  • Participated in the legislative drafting consultancy for the Republic of Somalia with a specific brief to draft the country’s Financial Institutions Act.
  • Advised BRAC Uganda on its proposed transformation into a Microfinance Deposit Institution.
  • We are currently advising Export Import Bank of China in the US$ 99 Million financing of the Technopreneurship Institute of Uganda.
  • Currently advising Export Import Bank of China in respect to a financing to the Government of Uganda through the Ministry of Finance, Planning and Economic Development in respect to the construction of three oil roads in the Albertine Area in Uganda under the Ugandan National Roads Authority.
  • Acted for Eaton Towers Uganda Limited in a financing of the acquisition of the tower infrastructure segment of Bharti Airtel in Kenya, Madagascar and Rwanda; Warid Telecom Uganda Limited; and Orange Uganda Limited.
  • Acted for Eaton Towers Limited on the financing of Eaton Towers (in an asset acquisition finance transaction) by International Finance Corporation and Standard Bank for the acquisition of the telecommunication tower assets of Airtel Uganda Limited worth over US$ 100 million.
  • Advising a syndicated loan financing valued at USD 16,640,000 to Ziba Limited for purposes of supporting and facilitating the effective supply of electricity to Uganda Electricity Transmission Company Limited.
  • Advising Hatton National Bank PLC on the USD 9,000,000 financing of Tororo PV Power Company Limited in the development of a 10 MW Solar Power generation plant at Kasipodo B, Osukuru subcounty, Tororo District, Uganda.
  • Advised National Development Bank PLC and Seylan Bank Plc (Sri Lanka) on its Islamic Banking facility of USD 10,000,000 to Timex Bukinda Hydro (U) Limited for the development of the 6.5   MW hydropower plant project on River Nkuusi, Kagadi District.
  • Advised National Development Bank of Sri- Lanka on a loan facility of USD 5.13 million towards construction and commissioning of a proposed 2.7MW Mahoma hydro power project in Kabarole district.
  • Advised Hatton National Bank Plc and Bank of Ceylon in the financing of the design, engineering and construction of the 6.5MW Muvumbe Hydro Power Project in Western Uganda.
  • Advised Nedbank Capital in respect of a 4G LTE telecom network roll-out project in Uganda with Vodafone UgandaAdvised the Export Import Bank of China in the US$ 1.4 Billion financing of the 600MW Karuma Hydro Power Plant.
  • On the instructions of Herbert Smith Freehills LLP (Paris), acted for Veolia Environment S.A in establishing a local presence in Uganda and in bidding for a tender for waste management services in particular the treatment of drill cuttings resulting from oil and gas exploration and development works in Uganda.
  • Participated in a legal due diligence exercise on behalf of the Export-Import Bank of China in regard to a facility to Guangzhou Dongsong Energy Group (U) Co., Ltd to finance a phosphates mining project in the Sukulu Hills of Tororo, Uganda.
  • Advised China National Oil Company (CNOOC) on the environmental and regulatory considerations and risks in its proposed offshore operations on Lake Albert.Advised the Albertine Grabben Refinery Consortium (composed of General Electric, Yaatra Ventures LLC, Intra-continent Asset Holdings Limited and Sapiem SPA) on the regulatory aspects in its negotiations with the Government of Uganda to construct and operate the Uganda Oil Refinery.
  • The Standard Bank of South Africa and CFC Stanbic Bank in the structuring and financing of the acquisition of rail-rolling stock by the Rift Valley Railways, the main concessionaire of the Uganda Railway project.
  • Advised Equity Bank Uganda Limited and Equity Bank Kenya Limited in a syndicated financing of USD 70,000,000 to Mahathi Infra Services Uganda Limited for the construction of a jetty and four barges to be used in the transportation of petroleum products from Kenya to Uganda across Lake Victoria.
  • We regularly assist Build Uganda Limited, a private limited company which deals in empowering women groups through micro loans in its applications for money lenders’ certificates;
  • We regularly advise Bayport Financial Services Uganda. Bayport Financial Services Uganda specializes in providing cash loans to salaried government employees and is a leading non-deposit credit provider in Uganda. We also assist them regularly in their applications for money lenders licenses;
  • David F.K Mpanga advised a group of locally incorporated and licensed subsidiaries of international financial institutions on the Financial Institutions Bill (eventually passed as the Financial Institutions Act 2004) and lobbied the Bank of Uganda as well as the Legal and Parliamentary Affairs Committee of Parliament in respect of the same;
  • Our David F.K Mpanga advised the IFC/World Bank and Uganda Association of Bankers in respect of the Mortgage Bill (eventually passed as the Mortgage Act 2009) inclusive of appearances before the Physical Infrastructure Committee of Parliament;
  • Advised Lendables Inc. who provide risk analytics for lenders and originators of debt in developing markets in a facility financing agreement with Tugende Limited.

Well-equipped to advise on the full gamut of transactional and regulatory mandates. Its diverse expertise includes sector-specific knowledge of the mining, telecoms, tourism, and real estate industries.

Chambers and Partners, 2022

A quality firm providing a quality service

IFRL 1000, 2020

Very knowledgeable in banking and finance regulations in both Kenya and the rest of East Africa.

Legal 500, 2021

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William Kasozi

William Kasozi

Head of Banking & Finance
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