Ghana sits on the Atlantic Ocean and borders Togo, Cote d'Ivoire, and Burkina Faso. It has a population of about 29.6 million (2018). In the past two decades, it has taken major strides toward democracy under a multi-party system, with its independent judiciary winning public trust.
- Cliffe Dekker Hofmeyr represented Public Investment Corporation. Our South Africa-based banking & finance team advised Public Investment Corporation on its financing to Africa Finance Corporation (AFC), a multi-lateral development finance institution which specialises in financing and development on infrastructure projects across the African continent. AFC's purpose is to provide financing solutions in efforts to address the shortfall in infrastructure projects, particularly in the power, transportation infrastructure, heavy industries, oil, gas and other natural resources and telecoms sectors. Public Investment Corporation provided equity funding of US$100 million. The funding is to be used to finance infrastructure and industrial projects across the African continent. AFC's investment footprint spans 35 countries across Africa and a pipeline of projects that blend positive social and environmental impact with superior risk-adjusted returns. AFC's A3 investment-grade from Moody's enables beneficial access to global capital markets and underscores the confidence of Africa's decision makers in AFC's role as a key institution for sustainable economic development. This deal was complex in that the Public Investment Corporation became the first pension fund to invest in AFC without South Africa being a member state for the AFC. This transaction will unlock a number of infrastructure projects in the African continent and create over 10,000 permanent jobs across the African continent. Were involved in the acquisition of shares in Finavest Ltd by Distell Limited.
- CDH was involved in the acquisition of Adams Media by Dentsu Aegis Network.
- Assisted with Association Agreements entered into with local media business partners for Dentsu Aegis Network (Kenya, Uganda, Tanzania Nigeria, Ghana, Benin, Malawi and Madagascar).
- Advised the Keller Group (a major British based ground engineering company listed on the London Stock Exchange) in its R500 million acquisition of the geotechnical contracting business owned and operated by Esorfranki Construction in South Africa, Botswana, the DRC, Ghana, Lesotho, Mauritius, Mozambique, Namibia, Seychelles and Swaziland. Following the closing of the sale transaction, CDH advised on and implemented a BEE share scheme for the new operating company, Franki Geotechnical.
- Assisted Sturrock Shipping (Pty) Ltd to establish a subsidiary for its shipping and ship's agency businesses in Sudan, Angola and Ghana.
- CDH advised RMB Westport Property Partners Limited on the investment and development of the Takoradi Mall in Ghana.
- Our team assisted a leading global project developer in responding to a number of requests for proposals across various jurisdictions (Morocco, Ghana, Namibia, Mauritius, Egypt, South Africa and Zambia), including reviewing and advising on the proposed power purchase agreements, implementation agreements and connection agreements issued.