Banking and finance in Ghana

Bentsi-Enchill, Letsa & Ankomah

Spearheaded by Seth Asante and Frank Nimako Akowuah (who has the ‘ability to discuss thorny issues with the client and work towards their resolution‘), the first-rate team at Bentsi-Enchill, Letsa & Ankomah has an established reputation for its work with a range of financial institutions, institutional investors and companies. It can also frequently be found advising an array of large multinational corporations and emerging businesses on various transactions. The group regularly advises on the full range of lending and borrowing matters, such as acquisitions, and asset and structured trade financing deals. In addition, the skilled team is recommended for its regulatory advice to authorities and government agencies. Restructuring and insolvency issues are also covered by the team, which has additional experience in conducting large-scale due diligence exercises. Other strengths lie in advising on the financing aspects of project and infrastructure work.

Practice head(s):

Seth Asante; Frank Akowuah


Testimonials

‘Frank Akowuah: the ability to discuss thorny issues with the client and work towards their resolution’.

Key clients

Citibank N. A


Ghana Infrastructure Investment Fund


Oasis Africa Fund


Stanbic Bank Ghana Limited


Ghana International Bank plc


Africa Trade Finance Limited


Norwegian Investment Fund for Developing Countries


Macquarie Bank Limited


African Export-Import Bank


Standard Chartered Bank


Iroko Securities Limited


CAL Bank Ghana Limited


Cauris, Inc.


Work highlights


  • Advised Standard Bank of South Africa and Stanbic Bank Ghana on a $90m secured revolving facility to Golden Star (Wassa) for the expansion of its business.
  • Advised United States International Development Finance Corporation on a proposed $8m loan to an independent, co-educational institution for the refinancing of existing debt and the funding of a school campus.
  • Advised Development Bank Ghana on a €46.5m subordinated loan facility from KfW for on-lending purposes.

ENSafrica

The dedicated banking and finance practice at ENSafrica is well known for its experience in cross-border work. Practice head Paa Kwesi Morrison has a vast array of experience in advising financial institutions (covering banks, private equity funds and development finance institutions) as well as regional and international companies on all aspects of their deals. Rachel Dagadu is another highly regarded member of the team, who specialises in project financing as well as other fields of banking and finance. The practitioners frequently advise local authorities, major corporates and financial institutions on banking and capital markets deals. The firm has considerable expertise in a number of key sectors, such as bio waste, mining, solar and hydro power, telecoms and infrastructure.

Practice head(s):

Paa Kwesi Morrison


Other key lawyers:

Rachel Dagadu


Testimonials

‘In my opinion, they are the market leaders in the banking and finance legal practice. They are very knowledgeable and understand the business terrain. They have great transaction experience and are able to provide well-researched advice’.

‘Paa Kwesi Morrison and Rachel Dagadu make a great team. They understand the commercial industry and are able to provide commercially sound legal advice. This is very evident when they have to advise on novel scenarios’.

Key clients

Bpifrance S.A.


Komatsu Financial Europe NV


Deutsche Bank AG


Nedbank Limited


Wilmington Trust (London) Limited


Ghana International Bank plc


Standard Chartered Bank


Stanbic Bank Ghana LTD


The Standard Bank of South Africa Limited


Societe Generale Ghana PLC


Societe Generale


GRIT Real Estate Income Group Limited


ING Bank


Work highlights


  • Advised a syndicate of lenders arranged by Deutsche Bank in connection with a term loan facility of $250m to Karadeniz Powership Osman Khan Company.
  • Advised Standard Bank of South Africa and Stanbic Bank Ghana in connection with the provision of a senior secured medium term loan facility of up to $60m to Engineers and Planners Company.
  • Advised ING Bank in relation to a €176.5m facility to the Government of Ghana for the delivery of equipment and services for the establishment of nine technical and vocational education training centres.

JLD & MB Legal Consultancy

JLD & MB Legal Consultancy has an excellent reputation for its work on all aspects of banking and finance matters. It is adept in handling major corporate and project financing matters as well as trade and commodity financing work and syndicated lending. Names to note include Merene Botsio Benyah, who has a wealth of experience in various sectors such as oil and gas, in addition to minerals and mining. The group is well placed to advise multinationals, financial institutions, state-owned enterprises and corporate entities across a wide range of industries in Ghana.

Practice head(s):

Merene Botsio Benyah; Lily Acquaye ; Zoe Phillips Takyi-Appiah; Akosua Apea Osafo


Key clients

Ghana Infrastructure Investment Fund


Asante Gold Corporation


Quad Energy Limited


Zeepay Ghana Limited


Yinson Productions West Africa Limited


KOKA Energy Limited


BP Oil International Limited


Swipebill Ghana Limited


Fast Pace Transfer Limited


Ghana Commercial Bank (GCB)


Fidelity Bank Limited


Access Bank Ghana


AKA Ausfuhrkredit-Gesellschaft mbH (AKA Bank Germany)


Atlantic Lithium Resources Limited


Work highlights


  • Advised Asante Gold Corporation on its secondary listing on the Ghana Stock Exchange.
  • Advised Asante Gold Corporation on its acquisition of Resolute’s Bibiani Gold mine in Ghana for $90m.
  • Advised Ghana Infrastructure Investment Fund in respect of a multimillion-dollar facility.

N. Dowuona & Company

Under the leadership of Achiaa Akobour Debrah, the first-rate team at N. Dowuona & Company covers a host of banking and finance work as well as project financing and cross-border investments. Clients include financial institutions, borrowers, lessees and other players in the capital markets. It regularly advises large multinational companies from various sectors, such as telecoms, technology and renewable energy, and it is also receiving an increasing number of referrals from international law firms. NanaAma Botchway and Alex Calloway are among the other well-respected members of the department.


Practice head(s):

Achiaa Akobour Debrah


Other key lawyers:

NanaAma Botchway; Alex Calloway


Key clients

Water Equity Inc


Atlantic Terminal Services Limited


Caterpillar Financial Services


AgDevCo Limited


Prime Meridian Docks Limited


Bolt Holdings OU


SFC Finance Ltd


Alma Impact Debt


Work highlights


  • Advised Water Equity Inc. on the proposed grant of secured and unsecured debt financing to various financial institutions in Ghana.
  • Advised Alma Impact Debt on the grant of a term loan facility to a Sub-Saharan financial services group, with a Ghanaian operating affiliate.
  • Advised AgDevCo on the grant of a loan facility to a leading Ghanaian agribusiness company.

Ntrakwah & Co

The nimble team at Ntrakwah & Co handles a wide array of matters, from advising clients on setting up financial institutions to assisting in loan agreements. It is also recommended for its work with banks and other financial institutions on corporate governance issues, and has been increasingly active advising on the legal requirements for fintech companies. Abena Ntrakwah-Mensah and Kwadwo Ntrakwah jointly head the department.

Practice head(s):

Abena Ntrakwah-Mensah; Kwadwo Ntrakwah


Other key lawyers:

Felix Ntrakwah


Testimonials

‘They work as a team of experts. Their record keeping is very assuring as far as I have observed so far. I am very much comfortable with their level of professionalism’.

‘Fantastic team giving practical and timely advice’.

‘Kwadwo Ntrakwah shows great interest in giving me education on any legal matter I solicit for assistance and gives me good information from the legal perspective that helps me or our company in decision making. He exudes great professionalism and integrity’.

Reindorf Chambers

With Fui Tsikata and Kizzita Mensah at the helm, the experienced team at Reindorf Chambers is equipped to advise domestic and international clients on key private and public sector deals as well as cross-border transactions. It is sought after by major banks and financial institutions to assist in all types of lending and financial deals and on an array of regulatory matters. The group also garners praise for its expertise in assisting lenders on the restructuring of loans.

Practice head(s):

Fui Tsikata; Kizzita Mensah


Key clients

African Import-Export Bank


C-Nergy Ghana Limited


ABSA Bank Ghana Limited


Belfius Bank


ABC Bank International Plc


Ecobank Ghana Ltd


Teachers Fund


Ghana National Association of Teachers


KPMG


Work highlights


  • Advised a syndicate of lenders and mandated lead arranger in relation to a proposed $120m refinancing of outstanding financial arrangements of a major power generation company in Ghana.
  • Advising Belfius Bank in respect of a €13.5m+ loan to the Government of Ghana for the acquisition and delivery of intercity buses for public transport.

WTS Nobisfields

Theophilus Tawiah heads the practice at WTS Nobisfields, which advises companies on the full spectrum of issues, from asset and acquisition financing to structured financing and real estate financing. Other core focus areas include advising on debt financing and restructuring as well as trade and export financing. In addition, the skilled team is sought after for its work with banks on various regulatory and compliance matters. Another central component of the practice is insolvency work.

Practice head(s):

Theophilus Tawiah


Other key lawyers:

Abena Aboa Inkoom


Testimonials

‘Their quick response time to client needs sets them apart. Abena Aboa Inkoom is someone who responds to our requests via email promptly and has never failed to respond to our requests’.

‘Theophilus is adaptable and always ready to attend to our needs and problems. He is usually our go-to person when we need answers to our regulators’ questions’.

‘WTS Nobisfields has established itself as a world-class firm and continues to live true to this standard. The team is always readily available to assist clients with their needs. Theophilus and his team perform their duties to the highest standards of quality and professionalism’.

Key clients

Venture Capital Trust Fund


NAGA Markets Europe Ltd


SG Bank France


Wangara Green Venture Capital Company Ltd


Impact Capital Advisors


Industrial Support Fund


NewCase Capital Limited


Work highlights


  • Advised Venture Capital Trust Fund on an investment of GHS20m in SME Fund in Ghana.
  • Advised NAGA Markets Europe on its products in the context of banking and securities regulations in Ghana.
  • Advised Wangara Green Ventures Capital on the issuance of GHS2.1m to Wami Agro.