In 2017, drastic and sudden changes affected the mining sector in mainland Tanzania.
We offer legal services in relation to various financial products. Acting on numerous financial deals, we have become trusted advisers to some of most prominent banks and financial institutions both in Tanzania and beyond.
Our people advise on the full spectrum of financial products including asset finance, corporate and investment lending, derivatives, acquisition finance, projects and infrastructure finance, real estate finance, restructuring and insolvency, regulatory compliance, capital and money markets, trade commodity and export finance transactions.
Experience has included advising:
- The Company for Habitat and Housing in Africa (Shelter Afrique) in a USD14.5 million secured lending to the National Housing Corporation in Tanzania, secured against the borrower’s properties;
- New Forest Company Tanzania Limited in a USD10 million secured lending transaction financed by the Finnish Fund for Industrial Cooperation Limited;
- Standard Chartered Bank Johannesburg in a USD25 million secured lending transaction to a local borrower guaranteed by its parent company;
- Macquarie Bank in USD10.6 million trade finance facility to a local underground mining service company, secured against borrower’s assets in Tanzania;
- Cooperative Rabobank in a secured USD20 million uncommitted trade finance facility to a local milling company to be secured against the financed assets and other assets shared pari passu with other lenders;
- Cooperative Rabobank in a secured USD85 million uncommitted trade finance facility to a local oil marketing company and its affiliates, secured against the financed assets;
- Export Development Canada on repatriation of its term loan facility amounts and interest from Tanzania Australian bank in a USD8.5 million lending to a local mining company, to be secured against assets in Tanzania;
- Standard Bank of South Africa Limited in a USD32 million trade finance facility transaction to the largest milling company in Tanzania and Zanzibar; and
- A syndication of lenders comprising local commercial banks and pension funds led by Stanbic Bank Tanzania Limited on the provision of a syndicated loan totaling USD250 million to the national power company TANESCO, backed by a sovereign guarantee.
- Tier 2 in Financial and Corporate (IFLR1000 2020)
Ever since the landmark decision by the House of Lords (UK) in Salomon v Salomon & Co in 1897, the doctrine of corporate personality has been recognized in Tanzanian law.
The coverage of this pandemic by the global and local media clearly indicates the economic problems ahead not only for individuals but also for businesses at large. This calls for a reflection of the effect of this pandemic on the financial sector in Tanzania given the current global and local environment.
Operators in the clearing and forwarding business involving importation and exportation of minerals and other sensitive goods have less than a week in which to shift to other businesses.
Cote d'Ivoire has adopted a new investment code through Ordinance No. 2018- 646 of 1 August 2018. This text repeals Ordinance No. 2012-487 of 7 June 2012 on the Investment Code amended 2015.