Global law firm Baker McKenzie has won “Banking & Finance Legal Adviser of the Year” at GFC Media's Bonds, Loans & ESG Capital Markets Africa Awards 2024. This is the third time in four years that Baker McKenzie has won this award. The firm also advised its clients on three “Deal of the Year” transactions: the Infrastructure Finance Infrastructure Finance Deal of the Year, the ECA, DFI and IFI Deal of the Year and the Local Currency Loan Deal of the Year.

Infrastructure Finance Deal of the Year - Baker McKenzie advised the Africa Export-Import Bank and Standard Chartered Bank on a USD 1.76-billion loan to the Republic of Tanzania to fund the construction of a standard gauge railway.

ECA, DFI and IFI Deal of the Year - Baker McKenzie advised global financial services group Mitsubishi UFJ Financial Group (MUFG) on the successful completion of a USD 500-million accordion facility to increase the size of a USD 234-million Samurai loan for the African Export-Import Bank (Afreximbank). This increased facility will support Afreximbank to expand and diversify African trade, increase trade finance, and improve the facilitation of intra-African trade and value-added exports.

Local Currency Loan Deal of the Year - Baker McKenzie, together with IKM Advocates, advised Standard Chartered Bank on a KES 20-billion loan to Safaricom. Baker McKenzie provided the specialist advice required for the sustainability linked provisions.

"We are proud that our Africa-focused Banking & Finance team and our clients have once again been recognised at GFC Media's Bonds, Loans and Capital Markets Africa Awards. We are committed to supporting our clients as they continue to implement ground-breaking transactions that contribute to the growth in trade and expansion of infrastructure for the continent and its people. These awards reaffirm our commitment to innovate and provide integrated legal solutions for our clients in Africa,” commented Michael Foundethakis, Africa Steering Committee Chair and Global Head of Project and Trade & Export Finance, Baker McKenzie.

The Africa-focused Banking & Finance team has been particularly active as legal counsel in multiple project finance, export finance and structured trade finance transactions for key financial institutions in Africa, leading the way on many major financing transactions for both the private and public sector in jurisdictions such as Angola, Côte d'Ivoire, the Democratic Republic of the Congo, Egypt, Nigeria, Sénégal, South Africa, Tunisia and Zimbabwe.

In December 2023, the firm was also named EMEA Finance's African Banking Awards Best Pan-African Law Firm 2023, having won the award every year since 2021.

Baker McKenzie is a transactional powerhouse, with more than 2,500 deal practitioners in 45 countries offering leading expertise in the areas most critical to its clients. The firm excels in complex transactions and cross-border deals; over 65% of its deals are multi-jurisdictional. The firm is global and local, combining money-market sophistication with local excellence across the African continent.