KN Law LLP Becomes Kenya’s First Law Firm to Set-up a London Office
Mugambi Nandi was ranked in the 2021 Edition of Chambers Global Guide as one of the top Kenyan Corporate/M&A experts based abroad. Mugambi has been in London since 2019, when KN Law LLP set up its London Office at Berkeley Suite, 35 Berkeley Square, Mayfair, London, W1J 5BF.
KN Law LLP has become the first Nairobi-based law firm to set up a branch and relocate one of its partners to London to coordinate its growing corporate, M&A and PE client base. The move is meant to foster better collaboration with London-based international law firms looking to engage a responsive local counsel in Nairobi.
The development has earned the recognition of Chambers which named the firm’s Senior Partner, Mugambi Nandi, now based in London ‘One of Kenya’s top Corporate M&A lawyers based outside the country.’ Mugambi has been cited and ranked by Chambers Global consecutively since 2017, as a recognized Corporate M&A lawyer in Kenya.
Mugambi Nandi was ranked in the 2021 Edition of Chambers Global Guide as one of three Kenyan Corporate/M&A experts based abroad alongside Clifford Chance LLP Partner, Jennifer Mbaluto (based in London) and Atiq Ajarwalla (based in Dubai). Mugambi has been in London since 2019, when KN Law LLP set up its London Office at Berkeley Suite, 35 Berkeley Square, Mayfair, London, W1J 5BF.
According to Chambers, “Mugambi Nandi focuses his practice on corporate and commercial transactions, including M&A and Private Equity investments, as well as corporate finance and listings. He’s also experienced in merger approvals and competition regulations.”
Speaking to Africa Legal, Mugambi Nandi explained the move to set up a KN Law LLP London office saying, “If you are in London with a corporate, commercial or M&A need in Kenya, you would struggle to get the work done without going through one of the big law firms, most of which are now tied in exclusive arrangements with law firms in London or South Africa. By being present in London, I believe we can offer the same service but in a simpler, and direct way.”
KN Law has advised as local counsel on several projects in partnership with London-based law firms. One was a deal involving a private equity fund financing a company in Kenya working with Hogan Lovells. KN Law was also engaged on establishment of a private equity fund in Mauritius co-advising with Goodwin Procter (London Office). The firm was also recently involved in a tech investment deal between a Kenyan and a European company, advising jointly with Harbottle and Lewis.
The firm is offering the all-important personal touch and presence to international law firms trying to find local counsel to partner with in East and Central Africa. It is also putting its relationships across the East African region including Ethiopia, Rwanda, South Sudan, Tanzania, Uganda, Zambia, and Zimbabwe at the disposal of clients who need support in these countries.
Potential clients within the UK and the rest of Europe no longer need to book flights or travel to meet people when they need legal work done in Kenya. KN Law’s Mugambi Nandi is just one call away and ready to have a meeting with clients in London (in compliance with covid-19 protocols). Mugambi Nandi is additionally working towards becoming a Solicitor of England and Wales by the summer of 2021 to deepen his already top-notch legal expertise.
At the same time, KN Law LLP has bolstered its Nairobi Head Office with the appointment of Mugambi Maingi (no relation) as the firm’s new Managing Partner. Mugambi Maingi is a seasoned legal practitioner with over a decade post qualification experience as regional legal counsel for the UAP Old Mutual Group. Mugambi is an Advocate of the High Court of Kenya and a Graduate of the Prestigious Strathmore Business School Aspire Leadership Training Programme.
“Mugambi Maingi brings to the firm a wealth of experience and expertise from the financial services industry and the Firm is very proud to welcome him. He has extensive experience in corporate law, M&A, compliance and governance, fund management, retirement benefits and capital markets,” said KN Law Senior Partner Mugambi Nandi while unveiling the new Managing Partner at the beginning of the year.
KN Law LLP is a specialist law firm helping and working with corporate clients in M&A transactions, legal and tax due diligence and advisory, corporate restructuring, capital markets, debt and equity transactions and complex real estate transactions in Kenya and across East and Central Africa.
CR Advocates LLP is the Kenyan Law Firm to Watch in 2023 after Epic 2022
The year 2022 was a year of many firsts for CR Advocates LLP as the firm defied every theory of law firm growth to emerge as a top mid-size firm in Kenya. In the wake of its rise to the top, CR Advocates LLP scooped two top legal awards and earned its place in the law listings in the country among the Top 20 Law Firms in Kenya.
First, CR Advocates LLP as a firm came of age by emerging as the top recommended law firm in Kenya by highly-rated The Lawyers Global. CR Advocates LLP was the Winner of the Legal Award of The Lawyers Global ranking in Kenya based on reviews by clients and independent analysis by the directory. It beat top tier firms including Gikera & Vadgama Advocates and Walker Kontos Advocates to scoop the coveted award.
Second, CR Advocates LLP made a debut into THE LAWYER AFRICA Top 100 Law Firms in Kenya List which is based on headcount and reputation for excellence. The firm emerged among the TOP 20 LAW FIRMS IN KENYA by headcount having two dozen fee earners within its ranks. In this category, CR Advocates LLP stands shoulder to shoulder with many seasoned law firms including Mohamed Muigai LLP, Robson Harris LLP and Mboya Wangong’u and Waiyaki Advocates.
Third, CR Advocates LLP was shortlisted for the Nairobi SME Law Firm of the Year Award at Nairobi Legal Awards. The award recognizes the top mid-size law firms in the country. As if that was not too much already, CR Advocates LLP beat a dozen established law firms to emerge as the overall winner of the prestigious award with Igeria & Ngugi Advocates emerging as 1st Runners Up and McKay Advocates as 2nd Runners Up.
The overall result is that the firm of CR Advocates LLP begins the year 2023 as the top law firm in Kenya being the reigning award winner of both SME Law Firm of the Year Award 2022 and The Lawyer Global Legal Award Kenya 2022. In addition, the firm is now confirmed as being amongst the top 20 law firms in Kenya by THE LAWYER AFRICA.
The quick-paced upward trajectory of CR Advocates LLP which has earned it the reputation of disruptor in the corporate and commercial law scene is attributable to excellent client service and consistently efficient, reliable and cost-effective legal services. The firm boasts over 25 legal professionals most of whom are leaders and rising stars in their respective specialist practice areas.
CR Advocates LLP clientele ranges from established multinationals to state corporations and emerging SMEs and Startups as well as individuals clients. Founded in 2013 by Princess Caroline Mutisya, one of Kenya’s top Real Estate, Commercial and Corporate Law Attorneys, the firm is celebrating its 10th Anniversary this year as it pivots to embrace its new status as a leading law firm in the country and to set the stage to dominate the legal scene for the next decade.
There is no doubt CR Advocates LLP is the law firm to watch this year as every move the firm’s Managing Partner Princess Caroline Mutisya and her team makes is bound to shake the legal sector. The firm is admittedly a case study for legal services sector analysts seeking to seeking to unearth the secret of building a top law firm from the bottom up within a decade.
Bowmans Expands its Tax Practice in East Africa
Bowmans has made a substantial investment in its tax capacity in East Africa by expanding its Tax Practice in Nairobi with recruitment of four (4) associates. Senior Associates, Fredrick Ogutu and Patience Mbugua, joined the firm on 1 May 2022. This is in addition to Associates Lynet Mwangi and Bernard Kirii who joined the firm on 1 March 2022, adding further depth to the firm’s tax service offering.
Before joining Bowmans, Fredrick was a manager in the tax and legal department of audit firm Deloitte & Touche LLP. He has extensive experience in providing tax advisory on both local and international/cross – border tax issues, tax restructuring, tax support in mergers and acquisitions, tax due diligence, tax dispute resolution, tax compliance and assessment of tax risks across various sectors.
Patience Mbugua previously worked in the tax dispute resolution department of the Kenya Revenue Authority (“KRA”), where she gained considerable experience in handling tax disputes involving taxpayers in various sectors. Prior to that, she worked for an audit firm, PricewaterhouseCoopers (PWC) and has considerable experience in providing a wide array of tax services including direct and indirect tax compliance, tax reporting, tax advisory, KRA audit support, tax dispute and tax litigation.
Lynet previously worked in the tax and regulatory services department of audit firm, KPMG East Africa, as well as Dentons Hamilton Harrison & Matthews. She has wide experience providing tax services, including tax advisory and structuring, KRA audit support, tax dispute resolution and regulatory compliance. Bernard Kirii joined Bowmans from KPMG East Africa, where he specialized in tax dispute resolution services for clients; tax optimization; tax restructuring; and tax advisory services, including mergers and acquisitions.
According to Bowmans, the expanded tax team helps expand the firm’s tax offering especially by providing additional assistance in mergers and acquisition transactions, including undertaking tax due diligence reports; tax restructuring and optimization involving both local and international/cross border entities; assistance with KRA audits; and conducting tax health checks on all tax heads. These services are in addition to the current tax advisory and tax dispute resolution services provided by Bowmans.
“We are pleased that the team has chosen Bowmans as their new home, and we are confident that they will enhance the tax service that we offer our clients across our geographical footprint,” said Bowmans Tax Partner and Head of Tax Practice Alex Mathini. Alex has been ranked by Chambers & Partners for the last six (6) consecutive years and Chambers Global Guide 2022 ranks Alex among the Top 2 Lawyers in Tax Law in Kenya.
In addition to Alex and the four new associates, Bowmans Tax Practice in Nairobi includes Andrew Oduor (Tax Partner), Samuel Githanda (Senior Associate), Nelly Chepkoeach (Associate) and Maurice Muma (Associate). Andrew Oduor is a tax practitioner of sixteen (16) years who is active in tax litigation, tax compliance and tax advisory services. He is the Kenyan contributor to an annual Global publication by Thomson Reuters Practical Law on Tax Litigation in Kenya.
BOWMANS SOUTH AFRICA: JSE Consultation Paper to Reform Listings Framework
By Mili Soni (Senior Associate) and Charles Douglas (Co-Head of M&A), Bowmans, Johannesburg, South Africa. Bowmans is the 3rd Largest Law Firm in Africa as ranked in Africa Top 50 Law Firms in 2022, with over 400 specialist lawyers providing integrated legal services throughout Africa from eight offices (Cape Town, Dar es Salaam, Durban, Lusaka, Johannesburg, Kampala, Moka and Nairobi ) in six countries.
As part of the JSE’s active focus on remaining relevant and competitive in order to retain and attract more listings and capital markets activity, the JSE has released a further consultation paper considering the following proposals:
- Market segmentation: It is proposed that mid/low-cap companies be provided with regulatory relief by splitting the current two-tiered equities market from the Main Board and AltX into two segments at Main Board level and establishing a growth board (for SMEs to have an effective and appropriate level of regulation depending on the market cap and level of liquidity concerned).
- Dual class shares: The introduction of dual class shares is being proposed (i.e. low or high voting shares, being shares of different classes holding different numbers of votes per shares).
- Technology Board: The JSE would like to establish a Technology Board to invite tech IPOs to take place through more inclusive and adaptable listing rules to support technology and innovation enterprises. It is anticipated that this would allow, inter alia:
- dual class share structures;
- no profit or qualified audit opinion over the last two years;
- a lower threshold for subscribed capital;
- a lower level of equity shares in issue and a lower free float threshold; and
- broader ranges for cat 1 and 2 transactions and issue for cash authorities.
- Free float: The 20% free float threshold for a Main Board listing is a deterrent to listing and may be reconsidered, alongside reconsidering public spread criteria as applied to institutional investors.
- Depositary receipts: The JSE would like to allow African listed companies to access the JSE through depositary receipts to gain exposure to African listed securities.
- Simplification of the JSELR: The aim is to use plain language and reduce the volume of the JSELR.
- Auditor accreditation: This may be removed for applicants whose auditors are regulated by the Independent Regulatory Board for Auditors (IRBA).
- REIT expansion: The JSE is considering expanding its REIT offering beyond property (e.g. to include infrastructure).
- Review of SPACs: Further alignment with international leading markets is sought to ensure the attractiveness of SPACs.
- Financial Reporting Disclosures: The JSE aims to simplify these.
- Actively Managed Certificates and Actively Managed Exchange Traded Funds: Expansion of specialist securities offerings is in the pipeline.
- Specialist securities rejuvenation project: The JSE intends to remove administrative provisions and align the provisions with international best practice going forward.
- Repositioning the BEE segment: Simplification of the BEE Listings Requirements is sought to allow BEE companies to list on a stand alone basis, where trading will only be allowed between eligible BEE participants.
- Review of Secondary Listings Framework: The JSE would like to expand its list of approved and accredited exchanges to facilitate these (e.g. the Singapore Stock Exchange was added to the list in 2021 and also qualified for the fast-track secondary listing route).
The JSE invites comments by Monday 20 June, after which it will engage with the Financial Sector Conduct Authority (FSCA) for approval.
The information contained in this article is provided for informational purposes only, and should not be construed as legal advice on any subject matter. Follow this link to read the Original Article published in the Bowmans Website. The Copyright © for the article belongs to Bowmans and the Authors. For any further information or clarifications on the above matters, please contact: Charles Douglas and Mili Soni.
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