Banking, Finance & Insolvency

A&K Tanzania has an established banking and finance practice in Tanzania. The firm has significant experience handling multiple large and complex banking and finance transactions. Our banking and finance expertise includes syndicated finance, project finance, Islamic finance, asset finance, aviation finance, fintech, general lending, insolvency and restructuring. A&K Tanzania is also able to draw on the experience of six additional banking and finance lawyers from Anjarwalla & Khanna, Kenya, including lawyers who have worked in Tanzania and have extensive banking and finance experience in the region. Our banking team is led by Geoffrey Dimoso who has broad experience in the banking industry in Tanzania supported by Sonal Sejpal who is highly regarded in Tanzania. A&K Tanzania currently sits on the panel of four major banks.

The A&K Tanzania team has acted on various Banking, Finance and Insolvency *matters, including:

  • Advising Dangote Industries, the Tanzanian subsidiary of Dangote Cement, a Nigerian multinational industrial conglomerate, in connection with a USD 100 million syndicated financing facility arranged by Standard Chartered Bank and Barclays Africa Group, with participation by Standard Chartered Bank Tanzania and National Bank of Commerce Tanzania.
  • Acting for Africa Export-Import Bank, the main lender and various co-financiers, in connection with a USD 315 million multi-jurisdictional syndicated debt facility to the Smile Group of companies dealing with 4G LTE broadband networks.
  • Acting for African Export-Import Bank, Industrial Development Corporation and the Development Bank of Southern Africa, in connection with the provision of a USD 195 million multi-jurisdictional syndicated debt facility to the Smile Group of companies dealing with 4G LTE broadband networks.
  • Acting for Citibank Tanzania, the largest American bank operating in Tanzania, in connection with a USD 35 million loan to Said Salim Bakressa & Company, the flag-ship company of the Bakhresa Group (trading as Azam), that owns the largest wheat milling and storage facility in East Africa.
  • Acting for FMO, a bilateral private sector development bank based in, the Netherlands, in connection with the provision of a USD 12 million term loan to I&M Bank Tanzania.
  • Acting for Nedbank, a South African headquartered bank, in connection with a revolving credit facility of USD 35 million to Geita Gold Mining, a subsidiary of AngloGold Ashanti Geita Gold, an established gold mine with a special mining licence.
  • Acting for Stanbic Bank Tanzania and CfC Stanbic Bank, in connection with their position as the lead arrangers for a medium term note issue for approximately USD 15.4 million by the Eastern and Southern African Trade and Development Bank on the Dar es Salaam Stock Exchange.
  • Acting for International Finance Corporation, CDC Group, and Africa Capitalization Fund, the underwriters, in connection with the underwriting of the CRDB Bank Rights Issue worth TZS 152 billion.
  • Acting for Standard Bank of South Africa in connection with the increase of its USD 34.5 million loan to 21st Century Food and Packaging Company, a subsidiary of the MeTL Group which is Tanzania’s largest home-grown company worth more than USD 1 billion with a presence in 11 countries in Africa.
  • Acting for the International Finance Corporation in connection with its loan to China Railway Jianchang Engineering Co, (CRJE) Estate, a prominent Chinese real estate developer, for a 43 story commercial complex with a 5 star hotel.

For more information on A&K’s banking and finance expertise, please contact Geofrey Dimoso and Sonal Sejpal.

*Matters predate A&K Tanzania