IFLR 1000
The Guide to the World's Leading Financial Law Firms

The biggest stir in the Kenyan legal market this year was the high-profile departure of two partners from Kaplan & Stratton to form a new firm called Coulson Harney. The move led commentators to doubt the firm's position as undisputed leader of the Kenyan market, with the improving Anjarwalla & Khanna now seen as providing an equal quality of service....

The biggest stir in the Kenyan legal market this year was the high-profile departure of two partners from Kaplan & Stratton to form a new firm called Coulson Harney. The move led commentators to doubt the firm's position as undisputed leader of the Kenyan market, with the improving Anjarwalla & Khanna now seen as providing an equal quality of service.

Corporate and infrastructure bonds are proving a good source of work for Kenyan law firms. Kengen launched a $150 million private infrastructure bond in January 2009, and commentators say a number of corporate bonds are in the pipeline.

Some financing work still exists in the market, but most of it is connected to energy and communications projects. Commentators note a shift towards regional work, and many of the projects to receive financing reflect this – energy projects in particular. The construction of a fibre-optic cable from Kenya to the UAE is one notable project on a regional level.

M&A work is quiet, but Kenyan banks, communications and energy companies are seen as viable future targets for investors. Commentators meanwhile suggest that the government may sell all or part of its stake in the National Bank of Kenya, creating work for local firms. Privatisation is also expected to keep law firms busy, with the government selling its stake in various companies such as hotels. However some commentators are sceptical of the value of this work, as some of the assets or stakes are small.