Dominic Rebelo | Partner | Anjarwalla & Khanna
Dominic Rebelo is a Partner in the Corporate department at Anjarwalla & Khanna. He has wide-ranging experience in capital markets, corporate mergers and acquisitions, fintech, energy and natural resources and environmental law. Prior to joining Anjarwalla & Khanna, Dominic was a Partner at Daly & Figgis Advocates.
Dominic has advised domestic, regional and international private and publicly listed companies on a variety of commercial transactions including share acquisitions, privatizations, public listings and cross listings
Membership in Professional Societies
2006: Postgraduate Diploma in Law, Kenya School of Law
2005: LL.B, Bachelor of Laws, the London School of Economics and Political Sciences, England
2000: BSc (Joint Hons) Philosophy and Economics, the London School of Economics and Political Sciences, England
2011 – DATE: Partner, Anjarwalla & Khanna, Advocates, Nairobi
2005 – 2010: Associate and Partner, Daly & Figgis Advocates
Awards and Accolades
- Dominic is ranked by Chambers Global 2020, 2019, 2018, 2017 and 2016 in the Corporate Commercial practice area. Chambers Global 2020 note that Dominic is an “excellent lawyer” and that “he is valued for his expertise in M&A transactions and for his adept representation of private equity houses in complex equity investments”.
- Dominic is ranked by Chambers Global 2020 and 2019 in FinTech Legal practice area. Chambers Global 2020 noted that he “maintains a highly respected financial regulatory practice, with a particular focus on the legal issues surrounding peer-to-peer lending”. Dominic is described by clients as “very knowledgeable, responsive and smart,” and they appreciate that “he understood their business, which is exceptional for a lawyer.” – Chamber Global 2020, FinTech Legal.
- Dominic is a ‘Highly Regarded’ lawyer by IFLR1000 2020, 2019 and 2018 in the Financial and Corporate practice areas.
- Dominic is ‘highly rated’ by Legal 500, 2020, in the commercial, corporate and M&A category.
- Dominic is noted for his experience in capital markets. – Chambers Global 2015.
- “He is commended for his responsiveness and succinct advice.” – Chambers Global 2011
- IFLR 2011 notes that Dominic ‘is rated highly by clients, with one describing him as “very out-of-the-box in terms of pragmatism and finding solutions. He has the depth of knowledge but also is very alive to some of the challenges we face from a commercial perspective. He can translate a legal point into a solution.”
Areas of Expertise
- Capital Markets
- Corporate M&A
- Energy, Natural and Renewable Resources
Top Matters – Private Equity and Venture Capital
- Acting for WPP Scangroup, a Kenyan listed company, and Research and Marketing Group International, one of the leading integrated Publishing groups in the MENA region, in connection with its disposal of 60% of the Kantar Africa Business.
- Acting for Huaxin Cement Company, one of the world’s leading companies in the building materials industry, in connection with its acquisition of 100% of the issued shares in Maweni Limestone, a Tanzanian company involved in the business of making clinker and manufacturing and distributing cement.
- Acting for The Rise Fund, an affiliate of TPG a leading U.S. based private equity firm, in connection with its investment through the Evercare Health Fund, the middle market and growth equity investment platform of TPG, into certain assets that were held by the Abraaj Growth Markets Health Fund, a private equity vehicle dedicated to building affordable high quality health ecosystems in South Asia and Sub Saharan Africa by building green field or assembling and growing city-based cornerstone assets.
- Acting for The Rise Fund, an affiliate of TPG a leading U.S. based private equity firm, in connection with its acquisition, through a wholly owned subsidiary, of 33.9% of the issued share capital of Maziwa, a company that is involved in the distribution of milk and milk related products across Kenya, Uganda and Zambia.
- Acting for AfricInvest’s financial inclusion vehicle, a company targeting equity investments in Tier II and Tier III financial institutions in Africa, in connection with their equity investment in a 24.76% stake in I&M Bank (Rwanda), a Rwandan listed bank, a landmark deal in Rwanda.
- Acting as international lead counsel for Amethis Fund II S.C.A., SICAR, Proparco and Kibo, leading private equity firms, in connection with their proposed investment into Stratton Africa Holdings, a Mauritian holding company for Merec Industries SA, Maputo Grain Terminal and Merec Mozambique SA, a wheat importation and value chain based in Mozambique.
- Advising Avirpro Eclosia Group, a pioneer in the production of chickens, in connection with their setup of operations and acquisition of a Kenyan hatchery situated on land measuring approximately 20 hectares.
- Acting for Kiboko Holdings, a holding company owning eight East African companies, in connection with the sale of 60% of its shares in AK Life Sciences to Carlyle Group, an American multinational private equity fund.
- Acting for Catalyst Principal Partners, a leading private equity firm, in connection with their setup of and fund raising for Catalyst Fund II which achieved a first close of USD 103 million in commitments and targeting USD 150-200 million of total commitments from regional private and institutional investors, international development finance institutions, and international and emerging markets institutional investors.
- Acting for the sponsors of a proposed new private equity fund targeting USD80-100 million of total cash commitments together with the roll up of certain of the sponsor’s existing equity investments to the value of circa USD 50 million and focused on investing in the financial services industry across east and southern Africa.
- Acting for a consortium of investors comprising Africinvest Capital Partners, DEG, FMO and Proparco, in connection with their initial and subsequent investment in a 14.3% of stake in Britam Holdings, a Kenyan listed insurance and asset management group with operations in Kenya, Tanzania, Uganda, Rwanda, Malawi, South Sudan and Mozambique.
- Acting for Deutsche Investitions-und Entwicklungsgesellschaft mbH (DEG) and Société de Promotion et de Participation pour la Coopération (PROPARCO), in connection with their principal and mezzanine debt financing of the 40MW solar power plant being developed by Alten Solar in Kenya.
- Acting for Catalyst Principal Partners, a leading private equity firm, in connection with increasing its investment in Jamii Bora Bank, the fastest growing bank in Kenya focused on enterprise banking.
- Acting for SBM Group, a Mauritian banking group listed on the stock exchange of Mauritius, in connection with its take-over and rescue of Fidelity Commercial Bank, a Kenya bank in financial distress.
- Acting for Orbit Chemicals Industries, one of the largest East African contract manufacturers of chemical products, in connection with an investment into Orbit and its related companies by Catalyst OCL Investment, a private equity fund based in Mauritius.
- Acting for Amethis Africa Finance on its investment in the Ramco Group of companies, including an internal restructuring of the print and media business and subsequent equity investment.
- Acting for Actis in its 36% equity investment in AutoXpress Group, a leading East African tyre wholesaler and retailer.
- Acting for the Opes Fund on their investment into the Naivasha Water Company, a provider of clean drinking water to consumers in the Rift Valley in Kenya.
- Acting for VilCap Investments on debt and convertible investments into an internet start-up company in Kenya.
- Acting for Catalyst Principal Partners on their successful investment into a Tanzania based heavy-machinery leasing business, including an initial management buy-out, group restructuring and subsequent investment by Catalyst Principal Partners.
- Acting for Amethis Africa Finance on its investment in Chase Bank (Kenya) including negotiations with the minority shareholders and the regulator.
- Acting for responsAbility Renewable Energy Holdings (rAREH) on their setup of operations in Kenya and proposed investments into various renewable energy projects in Kenya.
- Acting for the Savannah Fund on a number of investments into Kenyan information technology start-up ventures.
- Acting for Blue Have and a consortium of investors on their investment into Ecopost, a Kenya business involved in utilizing recycled materials to make plastic lumber with an array of construction uses.
- Acting for Grass Roots Business Fund on various of their investments into agricultural business in Kenya.
- Acting for Gray Matters Capital on their commencement of operations in Kenya and on various investments in the educational sector in Kenya including modular moveable container-based classroom solutions for Kenyan schools and advice on structures that would enable the investor to provide debt/equity in the form of convertible loan notes over a period of time to assist the target companies grow with a view to developing their operations while making a social impact in the educational sector in Kenya.
- Advised 88 mph on a number of proposed investments in various companies in Kenya. The scope of our work included advising on corporate restructuring, regulatory and equity/debt investment instruments.
- Acting for i/o Ventures, a newly established private equity fund in the setup of their incubator fund in Kenya and Mauritius for the provision of start-up capital to IT entrepreneurs in East Africa.
- Advising private equity firm Catalyst Holdings in their purchase of shares in Novo Star Limited.
- Acting as local counsel for Abraaj Capital Holding on their purchase of Aureos Frontier Investments, LP.
- Acting for the purchaser on the sale and purchase of an interest in Safepak Limited from Aureos East Africa Fund LLC.
- Acting for Catalyst Capital on the sale of its interest in a FMCG business in Tanzania.
- Acting for Apollo Investments, the holding company for seven subsidiaries, including APA Insurance Limited, a leading general insurance business in Kenya, and Apollo Life Assurance Limited, in relation to the subscription for shares by LeapFrog Financial Inclusion Fund, an international insurance sector private equity fund.
- Acting for Catalyst Principal Partners, a regional private equity investment fund, on its acquisition of a minority stake in Chemi & Cotex Limited, a Tanzanian FMCG Business, shortly following the acquisition of a stake by HSBC Investment Bank Holdings Plc and Satya Capital.
Top Matters – General M&A
- Acting for Mobile Commerce Ventures on their setup in Kenya and the set-up of the M-Kopa brand of financed rechargable solar lights including drafting all contracts for their operations.
- Acting for the Kenya Women’s Finance Trust in the hive down of their microfinance business and subsequent recapitalization pursuant to the requirements of the Micro Finance Act.
- Acting for Mercantile Insurance Company in their recapitalization pursuant to the requirements of the Insurance Act. Also advised the company and their majority shareholders on the purchase by the majority shareholders of the minority shareholding held by Ecobank Kenya Limited.
- Acting for Safaricom in their purchases of 100% of the issued share capital of IGO Wireless Limited, Instaconnect Limited and Packetstream Data Networks Limited as part of Safaricom’s strategic expansion to implement a full WIMAX network.
- Acting for the Gulf group of companies on the setup of their group Employee Share Option Scheme.
- Acting for Fidelity Commercial Bank in their successful private placement.
- Acting for the Kenya Fluorspar Company in the setup of its Employee Share Ownership Plan.
- Acting for EABS Bank in the sale of a majority stake in the bank to Ecobank Transnational Incorporated.
- Acting for Jubilee Holdings in their purchase of shares in Farmers Choice Holdings Limited from the Aga Khan Fund for Economic Development.
- Acting for Agility Logistics International BV in their takeover of Starfreight Limited.
- Acting for various partners in the setup of the Olare Orok Conservancy on the borders of the Maasai Mara.
Top Matters – Capital Markets
- Acting for International Finance Corporation (IFC), in connection with the “first-of-its-kind” forestry bond that allowed investors to be paid using funds generated from carbon credits produced through forestry and conservation projects in Kenya, including undertaking a legal due diligence on the Kenyan project company, the project owners in Kenya and their contractual relationships in relation to the ownership of the biomass and carbon retention, reviewing the Verified Emissions Reduction Purchase and Sale Agreement (the VERPA) and the bond prospectus and providing regulatory advice and assistance through to the issuance of the bond.
- Acting for CDC Group, a development finance institution owned by the UK government, on its USD 140 million equity investment for 40.65% of the issued share capital in ARM Cement, East Africa’s second biggest cement producer with operations in Kenya, Tanzania and South Africa and listed on the Nairobi Securities Exchange, including overseeing all legal matters in connection with the deal.
- Acting for one of the largest global insurances on a proposed acquisition of the majority stake in a Kenyan insurance provider (with regional operations) listed on the Over The Counter trading platform in Kenya, including providing advice on the various regulatory issues, take-over procedures, possible exemptions, timelines and potential pitfalls associated therewith.
- Acting for Atlas Development and Support Services (formally Africa Oilfield Logistics) a company incorporated in the Island of Guernsey, Channel Islands and listed on the LSE on its Kenyan private placement and subsequent cross listing onto the Growth Enterprise Market Segment of the Nairobi Securities Exchange – the first ever successful cross listing onto the Growth Enterprise Market Segment.
- Acting for Umeme on the successful cross-listing of its shares on the Nairobi Securities Exchange. The Umeme cross listing was the first of its kind, being the first company to successfully cross list on the Nairobi Securities Exchange. A&K was deeply involved in the initial listing in Uganda, oversaw the drafting of the Kenyan Information Memorandum, ensured compliance with all Kenyan legal requirements, provided a legal opinion on the cross listing and procured the requisite approvals from the Kenyan Capital Markets Authority and the Nairobi Securities Exchange to allow the cross listing to proceed. As part of the transaction, A&K had to liaise closely with the Kenyan Capital Markets Authority and the Nairobi Securities Exchange to assist in putting in place the necessary measures to allow for a cross listing onto the Nairobi Securities Exchange.
- At the request of the Capital Markets Authority in Kenya, investigated and drafted a report on CMC, a publicly listed company, in light of various allegations about the conduct of the Board of CMC, before its recent acquisition.
- Acting for Abraaj Capital Holdings in the sale of 100% of the share capital in Aureos Capital to Abraaj Capital Holdings. A&K obtained the relevant consents for the transaction in Kenya including the consent of the Kenyan Competition Authority and the consent of the Kenyan Capital Markets Authority.
- Acting for Safaricom in their purchase of 100% of the issued share capital of IGO Wireless, Instaconnect and Packetstream Data Networks as part of Safaricom’s strategic expansion to implement a full WIMAX network.
- Acting for Safaricom on the setup of the Safaricom Employee Share Purchase Plan and the Safaricom Employee Share Option Plan and advising the trusts overseeing the same on the opertaion of the schemes.
- Acting for Scangroup, a company listed on the Nairobi Stock Exchange, in their purchase of shares in Ogilvy East Africa Ltd and O&M Africa BV including the procurement of all necessary Monopolies, Capital Markets and other Governmental approvals.
Top Matters – Fintech
- Advising Raise Impact Technologies, a company incorporated under the laws of the Commonwealth of The Bahamas in building a blockchain based platform (the Raise Platform) to tokenize assets across Africa, in connection with regulatory matters and assisting in the legal documentation required for specific assets to be tokenised, including looking to create the first regulatory framework for tokenized assets on the African continent.
- Advising Kopo Kopo, a payment solutions company that enables and incentivize small and medium enterprises to digitize by partnering with financial institutions, mobile operators and major retailers, in connection with provision of legal advice on how to regulate proposed business operations and safeguarding user funds.
- Advising Travelex Currency Services, a member of the Travelex group Travelex, a leading foreign exchange and international payments specialist, in connection with regulatory requirements for their operations in Kenya.
- Advising PayU, the fintech and e-payments division of Naspers, a global internet and entertainment group and one of the largest technology investors globally, in connection with regulatory requirements and establishment of a subsidiary in Kenya.
- Advising World Remit, an online money transfer service that provides international remittance services to migrant communities around the world and one of the biggest network for digital money transfers worldwide, in connection with the establishment of their operations in Kenya.
- Acting for iColo.io, Kenya’s first carrier neutral data center, in connection with the proposed investment by Interxion Participation 1 B.V (Interxion), a leading provider of cloud and carrier neutral co-location data centres in Europe, of USD 2 million for the establishment of a data center in Mombasa.
- Advising Jumia Group (formerly Africa Internet Group), the continent’s biggest ecommerce company, in connection with regulatory requirement for the integration of its payment application in relation to its various online market ventures, including retail shopping, hospitality, and food services.
- Acting for Bitpesa, a successful Bitcoin start-up in Kenya, in connection with the setting up of operations in Kenya, including advising on regulatory and ‘know-your-customer’ issues, representing the client on its licensing disputes with the Central Bank of Kenya and with Safaricom in relation to the use of Mpesa to conduct the Bitcoin trades.
- Acting for a start-up company seeking to establish the first peer to peer (P2P) lending platform in Kenya, including undertaking a legislative review and negotiations with the Central Bank of Kenya on the regulations that apply to the proposed lending platform.
- Acting for Western Union Business Solutions, one of the world’s leading providers of cross-border business payments, in connection with the provision of regulatory law in Kenya, applicable to the proposed provision of cross boarder payment services and the opening of a bank account in Kenya. The Kenyan bank account would enable the client’s existing customers in various jurisdictions to send and receive money from Kenya.
- Acting for Financial Sector Deepening (FSD) Kenya, a member of the FSD Africa network and a financial sector development programme, in connection with the establishment of a national all-inclusive payment systems management body and the first mobile-money association in Kenya.
- Advising Financial Sector Deepening Africa, a financial sector development programme, together with the Cambridge Centre for Alternative Finance, ATZ Law Chambers – Tanzania, MMAKS Advocates – Uganda and K-Solutions -Rwanda, in connection with their production of a report namely “Crowdfunding Policy & Regulation: Market Development in East Africa”, published in October 2016. This Report is a comparative assessment of the existing and evolving regulatory and policy landscape for Alternative Peer–‐to–‐Peer Finance (P2P) in East Africa.
- Advising Poseidon Ventures, a boutique venture capital firm, in connection with its strategic alliance with Equity Bank in relation to the development, sale and marketing of innovative commercial and corporate products anchored on the Huduma Card product, a unit under the Ministry of Devolution and Planning and using the Huduma Kenya brand whose aim is to ensure that citizens have access to transactional Government services through various products and payment solutions.
- Acting for M-Kopa Kenya (M-Kopa), one of a kind solar power connection company, in a suit filed by Patrick Kimani Kamau t/a Mkopa Investments. M-Kopa is sued jointly with Safaricom, a leading communications company in Kenya with the widest and strongest coverage and Mobile Ventures Kenya.
Top Matters – Telecommunications
- Acting for Level 3 Communications Inc on their setup of operations in Kenya.
- Acting for Emerging Markets Communications LLC on the restructuring of their Kenyan operations.
- Acting for RSwitch, Rwanda’s national telecommunications exchange, on their recapitalisation and successful rights issue and their various trade agreements in Rwanda.
- Acting for The East Africa Marine System (TEAMS) and Safaricom, in relation to the Public Private Partnership (PPP) between the Government of Kenya and a consortium of East African national and international telecoms service providers and Etisalat of UAE undertaking the construction and operation of a 4,500 kilometre under-sea fibre optic cable connecting Kenya to Fujairah (United Arab Emirates). Including advising on corporate structuring, telecommunications, privatisation and procurement regulation and drafting and reviewing subscription, loan and shareholding agreements and drafting the capacity purchase agreements.
- Acting for Go Communications Ltd and Bridge Media in their various restructurings and sale/ purchase of shares.