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Finance and Projects

Our finance and projects lawyers advise on all aspects of financing. We share knowledge and skills in deals involving: lending and borrowing, debt securities, derivatives, funds, portfolios as well as energy, infrastructure, transport matters and other projects. 

IKM’s Finance practice, headed by Anne Kinyanjui, has vast experience and industry insight in the specialist areas of finance, enabling us to advise clients from diverse business sectors. Our lawyers act for over 20 commercial banks, a number of which are the top-tier financial institutions in Kenya. 

IKM’s Projects practice, headed by Beatrice Nyabira, has substantial experience across a diverse band of undertakings that include public-private partnerships (PPPs), energy (geothermal, hydropower, wind, solar and coal), and social infrastructure (health, housing and transport). Our knowledge base from working with clients across the public and private sectors means that we have a comprehensive understanding of each of the stakeholder’s concerns and are able to structure transactions in a manner that specifically addresses their needs.

Experience has included advising:

  • OPIC jointly with DLA Piper, in connection with facilities to be granted to Acorn Holdings Limited which is a leading real estate developer in Kenya for financing 10 mixed-use development projects.
  • Stanbic Bank Kenya Limited in a transaction involving real estate financing.
  • A top-tier commercial bank in Kenya in the financing of a used aircraft which required a high degree of due diligence over the aircraft and security documentation proceedings.
  • East African Breweries Limited as the borrower in connection with the financing of its new brewery in Kisumu.
  • Radiant Energy Limited on the financing of two 40 MW solar power projects.
  • CDC Group Plc, the lenders, on the financing of a 40 MW solar project in Malindi, Kenya.
  • The Kenyan government on the USD500 million procurement of medical equipment for 94 hospitals in all 47 counties in Kenya through a managed equipment services arrangement.
  • The sponsors of a USD1.8 billion energy project on the development of a 100 MW wind power plant in Kajiado, Kenya.
  • A client in connection with its proposed investments in Mombasa port, Lamu port and the new Lamu industrial city.
  • A consortium of investors in connection with a proposed primary healthcare project to be piloted in Makueni County before being scaled-up to all 47 counties in the country using a privately-initiated investment proposal model. 
  • Ranked Band 1 in Banking & Finance (Chambers & Partners 2019)
  • Ranked Tier 1 in Banking & Finance (The Legal 500 2019)
  • Ranked Tier 1 in Finance & Corporate (IFLR1000 2019)
  • Ranked Tier 1 in Projects & Privatization (The Legal 500 2019)
  • Ranked Band 2 in Projects & Energy (Chambers & Partners 2019)
  • Ranked in Projects & Finance (IFLR1000)

Why new changes to the insolvency laws matter

The Business Laws (Amendment) (No.2) Act, 2021 received Presidential assent on 30 March 2021 and brought amendments to several statutes into effect, many of which are geared towards improving the ease of doing business in Kenya. One of the affected statutes is the Insolvency Act, 2015 and this article explores the impact of some of the changes on businesses and creditors.

Why sustainability and ESG are critical for firms

The terms ‘Sustainability’ and ‘ESG or Environmental, Social and Governance’ run the risk of becoming mere buzzwords in today’s green-minded world. Worse still, these terms are often used interchangeably when they do not quite mean the same thing. Sustainability is an umbrella term that encompasses all of an organisation’s efforts to be a responsible steward and includes the three specific ESG pillars that are measurable, as they are data driven.

Ensuring the success of energy auctions in Kenya

Countries across the world are increasingly moving towards energy auctions as the preferred method for procuring renewable energy. In fact, according to the International Renewable Energy Agency, the number of countries using energy auctions rose steadily from six in 2005 to sixty seven in 2016. The shift has largely been attributed to the benefits of power auctions, including their ability to assist governments with price discovery, lower costs of power generation and flexibility.

Here is the golden chance for PPPs in sanitation

“Gentility of speech is at an end - it stinks, and whoso once inhales the stink can never forget it and can count himself lucky if he lives to remember it.” These were the words used by the City Press newspaper to describe the stench emanating from the River Thames at the peak of the summer of 1858. River Thames had been contaminated by industrial effluent and human waste and the smell emanating from it was so awful, that it was nicknamed the “Great Stink”. The river was declared biologically dead as no living creature could survive in it and it became the epicentre of deadly disease outbreaks such as cholera. The catastrophic situation prompted an immediate overhaul of London’s sewer system and happily, today, river Thames is considered one of the cleanest city rivers in the world, serving as home to many species of fish.