Highlights  

ENSafrica Uganda advised Absa Bank on a USD 100 million cross-currency repurchase transaction with the Bank of Uganda. The Bank of Uganda agreed to sell to Absa treasury bonds issued by the Government of Uganda denominated in Uganda Shillings against an agreement by the Bank of Uganda to repurchase the securities from Absa at a later date. The transaction was completed in June 2024 and led by partner Phillip Karugaba.  

The firm also assisted Inua Impact Fund Limited in the acquisition of a 20% stake in Flow Uganda Limited. The team, led by partner Rehema Nakirya Ssemyalo, assisted the client in the negotiation of the term sheet, drafting of the share purchase and shareholders agreements, and assisting in the deal closure. The transaction was completed in December 2024.  

Key Clients  

Absa Bank Uganda Limited; Inua Impact Fund Limited; The Standard Bank of South Africa Limited; Stanbic Bank Uganda Limited; Alterra Africa Accelerator Manager; International Finance Corporation (IFC); African Export-Import Bank (Afreximbank); Africa Go Green Fund for Renewable Energy and Energy Efficiency S.C.S. SICAV-RAIF 

Testimonials 2024/2025  

“They are one of the market leaders in international lending and offered practical advice to overcome legal hurdles during the negotiations.” (Banking & Finance) 

“Excellent services, great and experience team of advocates in a vast number of areas.” (Banking & Finance) 

“Rachel Musoke is an expert at navigating complex transactions to ensure favourable outcomes for all parties.” (Banking & Finance) 

"Rachel Musoke demonstrates leadership.” (Banking & Finance)