The ‘efficient’ team at Bentsi-Enchill, Letsa & Ankomah is ‘able to handle the most complex cases due to its knowledge and expertise’. Under the joint leadership of Seth Asante and Frank Nimako Akowuah, the group frequently handles the most sophisticated debt and equity capital markets transactions in the market. It advises on a broad range of international and domestic deals, including initial public offerings as well as private placements. It has acted as transaction advisers on a significant number of listed corporate equity securities transactions in addition to listed corporate debt securities deals in the local market. The lawyers also receive plaudits for their ‘strong commercial acumen’.
Capital markets in Ghana
Bentsi-Enchill, Letsa & Ankomah
Practice head(s):
Seth Asante; Frank Nimako Akowuah
Other key lawyers:
Jonathan Amable
Testimonials
‘BELA has a well-developed practice to advise on capital market transactions in Ghana excellently. Their understanding of local and international regulations to guide local and foreign companies seeking to use our capital market is excellent’.
‘Frank Nimako Akowuah – Knowledge and expertise of local market regulation, ability to marry innovative solutions with existing regulations to solve new problems’.
‘I have had the pleasure of working with Frank Nimako Akowuah on a number of capital market transactions. He has command of the law, he is dedicated and has always been thorough in his communication’.
‘BELA is without a doubt the market leader. Their knowledge depth, capacity for innovation, attention to detail and commercial acumen are unrivalled. The firm also has significant bench strength which ensures that they can be depended upon to deliver in a timely manner. BELA is also well known for its gender diverse work-force’.
‘Interactions with BELA team members always leave a strong impression of professionalism and competence. Managing Partner Seth Asante is extremely well regarded and does a fantastic job of promoting the firm’.
‘Frank Nimako-Akowuah and Jonathan Amable are two other outstanding individuals I have interacted with from the firm’.
‘The practice has been the leading legal firm to work on key financial structures especially in the capital markets. They are leaders in their field in their knowledge and expertise of local capital markets and key requirements from regulators and investors – all of which are crucial in structuring products’.
‘Seth Asante and Frank Akowuah are extremely professional and I enjoy working with them. They are the first choice if there is a complex structure we are working on and how to make it work from a legal perspective. Special mention to their associates as well’.
Key clients
Ghana Amalgamated Trust
Izwe Savings & Loans Plc
Databank Brokerage Services Limited
Bayport Financial Services
MobileMoney Limited
Ghana Stock Exchange
Scancom Plc
Africa Export-Import Bank
Work highlights
- Advised MobileMoney on a potential listing of shares on the Ghana Stock Exchange.
- Advised Ghana Amalgamated Trust on an initial public offer of preference shares.
- Advised Daakye Trust, a special purpose vehicle incorporated by the Ghana Education Trust Fund, on the establishment of a receivables-backed bond issuance programme.
ENSafrica
The impressive team at ENSafrica is co-led by Amina Abugdanpoka Kaguah and Paa Kwesi Morrison and handles a wide spectrum of capital markets work, with notable expertise in major cross-border deals. The team also regularly liaises with local regulators including the Ghana Stock Exchange, the Securities and Exchange Commission and the Bank of Ghana. As well as advising on diverse matters such as domestic bond programmes, the issuance of senior notes and on swap and buy/back transactions, the group also advises key clients on medium-term note issuances and many other types of derivative transactions. Rachel Dagadu is another name to note.
Practice head(s):
Amina Kaguah; Paa Kwesi Morrison
Other key lawyers:
Rachel Dagadu
Key clients
ICBC Standard Bank Plc
Goldman Sachs
Citigroup Global Markets Limited
Merrill Lynch International
Rand Merchant Bank
Standard Chartered Bank
The Standard Bank of South Africa Limited
Work highlights
- Advised ICBC Bank on the enforceability of the 2000 and 2011 versions of the Global Master Repurchase Agreement.
- Advised Goldman Sachs on the Ghanaian law requirements on derivatives and repo trading conducted under applicable standard master agreements.
- Advised the dealer managers in connection with the update of Ghana’s Global Medium Term Note Programme and the issuance of a sovereign bond of over $3bn by the Government of Ghana.
JLD & MB Legal Consultancy
The agile team at JLD & MB Legal Consultancy often advises on debt and equity capital market deals. The group is well placed to assist clients in IPOs and rights issuances as well as the listing of foreign companies on the Ghana Stock Exchange. Among the key names to note are Lily Acquaye, Akosua Apea Osafo and Zoe Phillips Takyi-Appiah.
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.