Banking, finance and capital markets in Kenya

Anjarwalla & Khanna

Anjarwalla & Khanna has an excellent domestic and international profile, and is frequently sought after to manage cross-border financings, including for international banks and development finance institutions (DFIs). The practice covers a range of transactions from syndicated financings to bond restructurings. Akash Devani and Sonal Sejpal are widely respected names in banking and finance space. Mona Doshi is a recognised leader in Islamic finance and Amyn Mussa has notable expertise in project finance. Anne Muruka is a key name at senior associate level.


It is the premier transactional practice powerhouse in Kenya and the region.’

The finance guru in the firm is Sonal Sejpal.’

Key clients

National Government of Kenya

Eastern and Southern African Trade and Development Bank

Avanti Communications Group

Stanbic Bank Kenya

KCB Bank Kenya

Standard Chartered Bank Kenya

The Standard Bank of South Africa

Work highlights

  • Acted for the National Government of Kenya on its $2.5bn sovereign bond issuance.
  • Advised Eastern and Southern African Trade and Development Bank on the update of its $2bn euro medium-term note programme.
  • Assisted Avanti Communications Group with securing a $250m banking facility from the Bank of New York Mellon.


Bowmans has an outstanding record in finance and capital markets. It has an impressive reputation in capital markets issuances and is at the forefront in the fintech space. It also has relatively rare senior English law expertise in Stephen MatthewsKamami Christine Michira leads the field in capital markets transactions and Cornelius Kigera is prominent in real estate finance. Richard Harney and Paras Shah provide senior level gravitas to the practice, the latter having a lead role on many of the firm's headline financing engagements.


The Bowmans team is well positioned as they are able to provide local law legal advice as well as English law advice.

Their network of firms across Africa allows them to be competitive not only in the delivery of excellent quality legal product but also in pricing.

They take time to understand their client’s needs and unique circumstances to be able to provide the best solution.

Paras Shah is always at the end of a phone when needed, technically very good and knows how to get the deal done whilst providing good value for money to the client.

Stephen Matthews shows attention to detail and thoroughness.

Key clients

The National Treasury

Britam Holdings

Stanbic Bank of Kenya

KCB Bank Kenya

Commercial Bank of Africa

Standard Bank of South Africa

Work highlights

  • Advised the government of the Republic of Kenya on a $250m term-loan facility from a syndicate of lenders.
  • Assisted Britam with the early redemption of a $60m medium-term note programme.
  • Advised the lenders on a $45m term-loan facility to Aquapani.

Dentons Hamilton Harrison & Mathews

Dentons Hamilton Harrison & Mathews has a strong record in financings, restructurings and capital markets issuances; project finance and commodity finance are particular fortes. Andrew Mugambi has an outstanding reputation, while Richard Omwela provides further senior level gravitas and Adil Khawaja and Lorna Mainnah are leaders in real estate finance. Sigee Koech is also noted.

Practice head(s):

Richard Omwela


Has the expertise and required experience to advise clients in banking and finance and gives top notch services. It is dedicated, reliable and easily accessible.

Always willing to go an extra mile to serve clients.’

The merger of Dentons and Hamilton Harrison & Mathews has brought on board diverse expertise, making the firm stronger and better skilled than its peers.

Sigee Koech is very responsive and went out of her way to ensure the transaction was closed.

Key clients

Africa Logistics Properties

SBM Bank (Mauritius)


Government of the Republic of Kenya

Kenya Bankers Association

Work highlights

  • Advised Africa Logistics Properties on its $26m financing from Stanbic Bank Kenya and Standard Chartered Bank South Africa.
  • Assisted Standard Chartered Bank Kenya with a c. $29m financing to Silafrica, the manufacturer and supplier of packaging solutions.
  • Acted for Citibank on a $30m financing to Devki Steel Mills.

Iseme, Kamau & Maema Advocates

Iseme, Kamau & Maema Advocates is a traditional leader in real estate and project finance, with a burgeoning reputation in syndicated lending and other key financing products. It is a key name for international banks, DFIs and major corporate borrowers. Anne Kinyanjui, James Kamau and Norah Mutuku are key practitioners in the space.

Practice head(s):

Anne Kinyanjui


Team work, knowledgeable in most areas of practice and reachability on both phone and email.

Key clients

Barclays Bank of Kenya

Commercial Bank of Africa

Ecobank Kenya

Equity Bank (Kenya)

International Finance Corporation (IFC)

NIC Bank Kenya

Work highlights

  • Advised Overseas Private Investment Corporation on loan facilities to Acorn Holdings for financing ten mixed-use development projects.
  • Acted for Eastern and Southern African Trade and Development Bank on a $200m term-loan facility for the government of Kenya.
  • Assisted Radiant Energy with the financing of two 40MW solar power projects in Uasin Gishu, Kenya.

Walker Kontos Advocates

Walker Kontos Advocates is traditionally a lender-oriented practice with a strong record in syndicated finance, project finance and insolvency matters. The firm has close connections to local and international banks, along with a range of DFIs. The firm has made established itself as a key name for renewables sector financings in recent years. Its alliance with Norton Rose Fulbright ensures it is well positioned for cross-border financings and gives it access to global knowledge and specialist areas of expertise. Michael Kontos has a huge reputation and is supported by Deepen Shah and insolvency expert Peter Mwangi.

Key clients

International Finance Corporation

Overseas Private Investment Corporation

Bank of Kenya

Société de Promotion et de Participation Coopération Economique (PROPARCO)

Standard Bank Group

Work highlights

  • Advised the lenders on a $78m loan facility to National Cement Company and National Cement Company Uganda.
  • Assisted Rabobank with providing an additional $20m facility to a local oil marketing company, bringing the existing debenture to $60m.
  • Acted for Ecobank Kenya on a revolving limited recourse receivables purchase financing for Tata Africa Holdings (Kenya).

CMS Daly Inamdar Advocates

CMS Daly Inamdar Advocates is noted for capital markets and finance transactions. It is especially active in renewable energy sector financings. Julius Wako is the key partner.

Work highlights

  • Advised the lenders on the financing of a 33MW solar power plant in Makindu.


ENSafrica established a strong presence in Nairobi in 2019, hiring finance head Binti Shah, along with three other commercial partners from Kaplan & Stratton Advocates. Shah is especially prominent in project finance, particularly in the energy and renewables space. Structured financings and debt capital markets work is also key to her and the team's practice. Shah is also English qualified and active in cross-border financings throughout East Africa.

Practice head(s):

Binti Shah

Kaplan & Stratton Advocates

Kaplan & Stratton Advocates has a strong record in financing and Ruth Kirunga is a key member of the team. Clients include Nordic Aviation Capital, Stanbic Bank Kenya and Nedbank. Senior figure Oliver Fowler retired from the partnership to become a consultant. Binti Shah left the firm to launch NBMA Advocates LLP in Nairobi.

Key clients


Stanbic Bank Kenya

Export Import Bank of China

African Export-Import Bank

Agence Française de Développement

Nordic Aviation Capital


Overseas Private Investment Corporation (OPIC)


JP Morgan

Mboya Wangong'u & Waiyaki Advocates

Mboya Wangong'u & Waiyaki Advocates has an excellent record in capital markets offerings, including straight equity and debt issuances, along with structured products, derivatives and securitisation. Peter Waiyaki has a good reputation.

MMAN Advocates

MMAN Advocates is a leader in aviation finance and has a strong record in general corporate lending. Trade finance and project finance are also key areas for the firm. Suzanne Muthaura is rated for aviation finance and Waringa Njonjo has considerable experience across financing.

Practice head(s):

Suzanne Muthaura; Waringa Njonjo

Key clients

Equity Bank (Kenya)

Textron Financial Corporation

Africair Aviation Leasing

Oraro & Company Advocates

Oraro & Company Advocates is a popular choice for a number of domestic banks and large real estate developers, and handles a steady steam of substantial financing matters. Pamella Ager is the key partner.

Practice head(s):

Pamella Ager


The team is partner led, commercial and lean.

Key clients

Kenya Commercial Bank

Barclays Bank of Kenya

Commercial Bank of Africa

Engine Lease Finance

Work highlights

  • Advised Kenya Commercial Bank on a $60m facility for a road construction project.
  • Acted for a joint venture of two major local developers on the financing of a 1,000 luxury home development along the Thika Superhighway.
  • Assisted Barclays Bank of Kenya with a facility to a microfinance institution.

TripleOKlaw Advocates

TripleOKlaw Advocates is primarily recognised for real estate finance with Tom Onyango a key name in this space. Jinaro Kibet provides further senior level expertise and senior associate Janet Othero is also noted.

Practice head(s):

Jinaro Kibet; Stephen Mallowah

Key clients

National Treasury 1 Yes

Starling Park LLP 3 No

Acorn Group

Uplands Meat Products

Vipingo Group of Companies



Imperial Healthcare East Africa

Work highlights

  • Advised the National Treasury on the formation of the country’s largest development finance institution, the Kenya Development Bank, through the merger of ICDC, IDB Capital and TFC.