Mashudu Mphafudi
Mashudu Mphafudi is a Director and Head of our Finance, Banking & Projects Practice. He provides business legal services in most areas of finance (debt and equity), projects finance, corporate finance, private equity, debt restructure, development finance, syndicated and bilateral finance, commercial real estate finance, acquisition finance, leverage finance, and public finance law. Mashudu has advised major international banks, South African banks, development finance institutions, corporate clients, private equity clients, developers, and sponsors across many sectors such as energy, health care, transport, telecommunications, agriculture, water infrastructure projects, and a variety of transactions in banking and finance in South Africa and Cross-Border transactions.

About Mashudu
About Mashudu
Mashudu joined Hofmeyr (now Cliffe Dekker Hofmeyr) as a Candidate Attorney in 2001. He was appointed as an Associate in 2003 and promoted to Senior Associate in 2006. Mashudu became a Director 2007.
Credentials
Credentials
Education
- Registered with the Legal Practice Council
- BJuris, University of Johannesburg
- LLB, University of Johannesburg
- LLM, University of Johannesburg
- HDip (Labour Law), University of Johannesburg
- HDip (Company Law), University of the Witwatersrand,
- Certificate (Competition Law), University of the Witwatersrand,
- Certificate in Banking and Finance, University of the Witwatersrand,
- Year of admission as an attorney: 2003
Languages
Languages
- English
About Mashudu
Mashudu joined Hofmeyr (now Cliffe Dekker Hofmeyr) as a Candidate Attorney in 2001. He was appointed as an Associate in 2003 and promoted to Senior Associate in 2006. Mashudu became a Director 2007.
Credentials
Education
- Registered with the Legal Practice Council
- BJuris, University of Johannesburg
- LLB, University of Johannesburg
- LLM, University of Johannesburg
- HDip (Labour Law), University of Johannesburg
- HDip (Company Law), University of the Witwatersrand,
- Certificate (Competition Law), University of the Witwatersrand,
- Certificate in Banking and Finance, University of the Witwatersrand,
- Year of admission as an attorney: 2003
Languages
- English
Experience
National Development Bank (BRICS BANK)
Advised the NDB in relation to a R7 billion debt facility made available to the South African National Roads Agency (SANRAL) and the Government Guarantee issued by the National Treasury on behalf of SANRAL. The facility will support road projects in South Africa, in particular the key economic corridors along the N2/N3 in the KwaZulu-Natal and N1 major roads in South Africa.
Nedbank Limited
Advised Standard Chartered Bank on its amended and restated revolving credit facility to a borrower incorporated in Botswana , with a deal value of R1.7 billion.
Rand Merchant Bank
Advised Rand Merchant Bank in relation to the debt facility extended to a borrower incorporated in the Netherlands with a deal value of EUR5 321, 000.
Standard Chartered Bank
Advised Standard Chartered Bank on its amended and restated revolving credit facility to a borrower incorporated in Botswana, with a deal value of R1.7 billion.
China Development Bank
Advised China Development Bank in relation to the restructure of term loan facilities in the aggregate amount of US$4.389 billion granted to Eskom Holdings Limited, the sovereign guarantee as well as the relevant regulatory consents required to finance two power stations and the unbundling of Eskom into three divisions.
Public Investment Corporation
Advised the Public Investment Corporation in relation to the equity investment in Africa Finance Corporation to finance infrastructure and industrial projects across the African continent, with a deal value of R1.7 billion.
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Industrial Development Corporation
Advised the Industrial Development Corporation of South Africa Limited in relation to debt facilities in the total aggregate amount of ZAR1.395 billion advanced to Reatile Renewables Group to fund its equity participation in 3 wind projects (i) 144 MW Khangela Emoyeni Wind Project (ii) 219 MW Umsinde Emoyeni Wind Project and (iii) 140 Ishwati Emoyeni Wind Project.
DRA Group
Advised DRA Group (an engineering consulting form based in Australia) on a multi-currency and working capital facilities for DRA Global (Australia) and DRA Group Holdings (South Africa) on a R1,2 billion rands. The facilities involved ZAR and AUD commitments for the SA and Australian borrowers with an ability to convert commitments from one currency to the other, secured by a comprehensive package of cross-guarantee by 20 obligors in Australia and South Africa.
Becker Mining Systems
Advised Becker Mining Systems and its three South Africa-based subsidiaries in relation to further amendments to its €70 million syndicated loan agreement and relevant security as well as advised on the relevant authorisations and exchange control approvals, with a deal value of R1.2 billion.
Trans-Calendon Tunnel Authority
Advised TCTA on a multi-billion rand financing for water infrastructure projects, including debt facilities extended to TCTA by South African Commercial Banks and Development Finance Institutions in the amount of R22 billion to fund sub-phase 2A of Mokolo-Crocodile River (West) Water Augmentation Project.
Advised TCTA in relation to debt facilities in the total aggregate amount of over R1.85bn to fund Berg River-Voélvlei Augmentation Scheme (BRVAS Project).
Doorenhoek Solar PV Project
Advised Doorenhoek Solar PV (RF) Proprietary Limited and its sponsor AMEA Power Limited in relation to a 120 MW Solar Photovoltaic Facility under the round six bid submission phase of the Renewable Energy IPP Procurement Programme. The total debt facilities provided by Standard Bank of South Africa Limited was 8 billion rands.
Old Mutual Limited
Advised Old Mutual Limited on debt facilities extended to a borrower to purchase additional residential properties for a deal value of R500 million.
Grindrod Bank Limited
Advised Grindrod Bank Limited in relation to a debt facility extended to FEC Prop Proprietary Limited in relation to an acquisition finance transaction.
Adams Solar PV Project
Advised Adams Solar PV Project in relation to the debt facility raised from Nedbank Limited for a Solar PV wheeling Project.
South African based lenders
Advised South African based lenders and, in relation to the drafting, negotiate and settled the mine funding package which comprises of debt component and equity component totaling a combined R4.2 billion in respect of the mining project to be undertaken in the Waterberg Region, Limpopo.
Major healthcare company
Advised a major healthcare company in relation to the debt restructuring and term loan facility provided by The Standard Bank of South Africa and Futuregrowth Asset Management Proprietary Limited in the aggregate amount of approximately R677 million.
Public Investment Corporation SOC Limited
Advised the Public Investment Corporation SOC Limited in relation to the capital restructure of Afrisam Proprietary Limited, which comprised of debt and equity restructure to the value of R8 billion rands.
Development Bank of Southern Africa Limited
Acted for Development Bank of Southern Africa Limited in respect of its restructured loan facility in relation to the David Livingstone Safari Lodge and Spa (Zambia).
South African Bank of Athens
Advised on transaction wherein the South African Bank of Athens acquired 99.81% of the issued share capital in the South African Bank of Athens by Grocapital Proprietary Limited ("Grocapital"), a subsidiary of Afgri Proprietary Limited. The acquisition comprised a combination of debt provided by Nedbank Limited and equity made available by the shareholders of Grocapital including the Public Investment Corporation and Fairfax (a Canadian private equity fund). The total transaction value was in the region of R1 billion.
Development Bank of Southern Africa
Advised the Development Bank of Southern Africa in respect of a USD300 million loan from the New Development Bank ("Bricks Bank") to the DBSA for purposes of enabling the DBSA to increase the electricity generation from renewable energy sources and to reduce greenhouse gas emissions in South Africa as articulated in the National Development Plan 2030.
News

Sustainability bonds and the debt market of the future: Are we ready?
Sustainability-linked bonds (SLB) and green debt instruments have emerged as essential instruments in mobilising capital for climate-resilient infrastructure and inclusive socio-economic...

Why banks are different, and why it matters
Commercial banks (as defined in the Banks Act 94 of 1990) aren’t like other public companies registered in terms of the Companies Act 71 of 2008. A South African commercial bank might...

Navigating the legal landscape for green investments in Africa
For potential investors eager to tap into Africa’s burgeoning green industrial sector, understanding and navigating the continent’s complex legal landscape is paramount. While the...

Rooftop solar: Energy bounce back loan guarantee scheme
Professor Anton Eberhard estimates that as of June 2023, households and businesses have installed 4,412 MWs of rooftop solar. Not only is this double the capacity of Eskom under its...

The application of the in duplum rule to post-judgment interest: The SCA clarifies the legal position
The in duplum rule will not come to your rescue if you fail to make post-judgment interest after arrear interest ceases to accrue when the unpaid arrear interest equals the principal...
Market recognition
- The Legal 500 EMEA 2018, 2021, 2023-2025 recommended Mashudu in Banking and Finance.
- IFLR1000 2024 regarded Mashudu as a leading lawyer in Banking, Project Finance, and Capital markets: Debt.
- IFLR1000 2018 recommended Mashudu as a "rising star" for Banking, Project finance and Capital markets: debt. In 2019, 2020 and 2022, he was listed as a highly regarded lawyer for Banking, Project finance and Capital markets: debt

Market recognition
- The Legal 500 EMEA 2018, 2021, 2023-2025 recommended Mashudu in Banking and Finance.
- IFLR1000 2024 regarded Mashudu as a leading lawyer in Banking, Project Finance, and Capital markets: Debt.
- IFLR1000 2018 recommended Mashudu as a "rising star" for Banking, Project finance and Capital markets: debt. In 2019, 2020 and 2022, he was listed as a highly regarded lawyer for Banking, Project finance and Capital markets: debt
Expertise

Banking, Finance & Projects
CDH brings commercially minded solutions to our clients on all matters relating to finance and banking.

Corporate Debt, Turnaround & Restructuring
We have an experience team that can balance our clients' needs with the pragmatic realities they face.

Financial Services
CDH’s lawyers works with clients in financial services to help them achieve their commercial aims.

Government and State-Owned Entities
We provide a comprehensive service that can be applied to all aspects of public law.

Healthcare & Pharmaceuticals
Our multidisciplinary team develops creative strategies and integrated solutions for this important healthcare sector.

Industrials, Manufacturing & Trade
We provide a multidisciplinary approach to legal and commercial matters across Africa.

Pensions & Employee Benefits
Our Pensions & Employee Benefits team works with skilled lawyers from across the firm to provide expert advice and solutions.

Oil & Gas
Our Oil and Gas team has substantial legal expertise across the value chain.

Projects & Energy
We have an excellent understanding of the sector and use this to help clients maximise value and mitigate their risk.