Banking and finance in Ghana

Bentsi-Enchill, Letsa & Ankomah

Bentsi-Enchill, Letsa & Ankomah's banking and finance practice is jointly led by Seth Asante and Frank Nimako Akowuah, who acted as Ghanaian counsel to Afreximbank on a $150m currency swap arrangement with the Bank of Ghana. The firm acts for major domestic and international banks in the Ghanaian market.

Practice head(s):

Seth Asante; Frank Nimako Akowuah

Key clients

African Export-Import Bank

Union Bank UK

Ghana International Bank

Standard Chartered Bank

Citibank

Work highlights

  • Acted as Ghanaian legal counsel to Societe Generele on a $50m bilateral uncommitted trade and commodities facilities to Ebony Oil & Gas Limited Financing to finance the general trading activity and more specifically to finance the purchase, storage and resale of goods into Ghana.
  • Acting as Ghanaian legal counsel to Union Bank UK Plc on a $7.5m facility to Osam Energy Company Limited for purchase of petroleum product for onward delivery and storage in a local tank farm under a collateral management agreement.
  • Acting as legal advisers to Ghana International Bank (GHIB) on a $30m on-demand revolving credit line facility to ECG for general corporate purposes including payments to suppliers and the issuance of trade-related instruments and other consumables.

ENSafrica

ENSafrica's practice covers a broad range of matters, including those involving leveraged finance, regulation of the financial services industry and debt finance. Elikem Nutifafa Kuenyehia jointly leads the team with Paa Kwesi Morrison, who is advising the Standard Bank of South Africa on a $30m senior term loan facility to be granted to Promasidor Holdings to support the working capital requirements of Promasidor’s subsidiaries and for general corporate purposes.

Practice head(s):

Paa Kwesi Morrison; Elikem Nutifafa Kuenyehia

Key clients

The African Development Bank

Bank of America Merrill Lynch

Barak Fund

Barclays Bank

DEG

Work highlights

  • Advising ING Bank on the grant of a loan facility to the Ministry of Finance to finance the construction of NVTI Facilities.
  • Advising GuarantCo on a $562m facility to Early Power Limited to finance the construction of a 400MW LPG- fired combined cycle gas turbine plant and associated LPG fuel storage and transportation infrastructure.
  • Advising Fidelity Bank on its $20m acquisition of an existing debt facility provided by Mamlaka Africa Limited to QG Ghana Hotel Holding Limited.

Kimathi & Partners, Corporate Attorneys

Kimathi & Partners, Corporate Attorneys' practice is notable on financing transactions, particularly in the mining and oil and gas sectors. The firm advises domestic and international clients.

AB & David Law's banking and finance practice is led by senior partner David Ofosi Dorte, who has worked in both the public and private sector for over two decades. He has a wealth of transactional experience.

Ashong Benjamin & Associates Lawyers

Ashong Benjamin & Associates Lawyers is active in the banking and finance arena, with senior partner David Addo-Ashong having specialist expertise in this area. Also recommended is senior partner Ekua Hayfron Benjamin, who has experience of advising banks on operational issues, as well as finance transactions.

Ntrakwah & Co

Ntrakwah & Co's practice is active in debt recovery litigation, banking-related arbitrations and syndicated lending transactions. Founder and managing partner Felix Ntrakwah is a name to note.

Reindorf Chambers

Reindorf Chambers handles domestic and cross-border finance transactions for banks and corporates, and it is also highly active in regulatory matters. Fui Tsikata, who has been an active practitioner for over 40 years, jointly leads the team with Kizzita Mensah. Mensah has experience of advising lenders on the restructuring of loans.

Practice head(s):

Fui S. Tsikata; Kizzita Mensah

Key clients

Eaton Towers Ghana Limited

West Africa Emerging Markets Growth Fund

African Import-Export Bank

C Nergy Ghana Limited

Standard Bank of South Africa

Work highlights

  • Advice to lenders in relation to the proposed restructuring of the existing loans to a Ghanaian Borrower, the proposed change of control of the Borrower and related changes to financing and shareholder arrangements, and proposed changes to certain project agreements and related documents.
  • Advice to lenders in relation to the financing of a port infrastructure project in Ghana.
  • Advised a client in relation to a US$5million financing of the construction of a storm drain in the Northern Region of Ghana.