Solicitors governing body: Law Association of Zambia
Competition authority: The Competition and Consumer Protection Commission (CCPC)
Financial regulator: Securities and Exchange Commission
IFLR1000 ranking categories in this jurisdiction:
Zambia was a protectorate of the British Empire until 1964, and became a republic immediately after winning its independence. The country is a member state of the Commonwealth of Nations, and English remains the official language. Zambia has large stocks of natural resources, particularly copper, and has experienced continuous political stability since its inception, making it a particularly attractive place for foreign investment.
The Republic of Zambia’s legal system is based on English Common Law, and is also influenced by tribal customary laws, creating a dual legal system that can be applied in tandem across the country. In lieu of any established Zambian law, the constitution falls back on English law.
The legal market is very small, and lacks the presence of international firms, though they are involved on all the most significant transactions and projects. The three leading Zambian firms all have alliances with pan-African networks; the Africa Legal Network is associated with Musa Dudhia & Co, DLA Piper Africa Group with Chibesakunda & Co and LexAfrica is associated with Corpus Legal Practitioners.
AB & David has been active in capital markets and M&A. The firm advised on a number of smaller cross-jurisdictional transactions and also advised Innovate Group on its recent market capitalisation.
In project development, the firm saw work in infrastructure and real estate, advising AVIC International on a major road development project in Lusaka and Cure International on the development of a shopping mall.
"Professional, independent, reliable, friendly and provides timely well-researched advice." - Competition
"The firm has kept me abreast of the matters we are dealing with and have held regular meetings with the council to discuss the approach needed for our next session and hearing. I value the insight into competition law and the line of questioning used in the hearings." – Banking and finance
"The Partner in charge of our mandate is very professional and delivers on time. The firm is good with feedback and has a quick turn around on instructions. The firm is quite small but have been growing steadily since we started working with them. At the moment, the team working on our mandate is well equipped to handle our assignments."
Corpus Legal Practitioners has been active in banking, M&A. and particularly project finance. One deal example saw the firm advise Nedbank on financing the government’s major healthcare expansion project.
The firm frequently works in the mining sector, in both project finance and M&A, and recently advised China Molybdenum on its acquisition of Tenke Fungurume Mining.
The firm has also been active in the power sector, advising the International Finance Corporation and Neon-First Solar Consortium on investments in the Scaling solar project.
Standard Chartered and Standard Bank of Zambia are key clients of the firm, alongside several leading mining firms, including first Quantum Minerals and African Rainbow Minerals.
"Generally a good practice." – Competition, project finance and development
"I found Corpus Legal's practitioners highly professional. Their support was also accurate and in some instances on very short notice. They are approachable and have a good understanding of our business and business needs." – Competition, M&A, and restructuring and insolvency
"Key strengths are technical competency, cost efficiency, and innovation." – Banking and finance, capital markets, M&A, private equity, and restructuring and insolvency
"The firm is the best corporate law firm in the Zambian market. The quality of their work, their customer service, technology uptake and billing are all very good." – Capital markets, competition, and project finance
"Very good. Works with speed and accuracy" – M&A
Musa Dudhia & is the Zambian member of the Africa Legal Network.
In banking and finance the firm advised on a number of confidential deals, acting mainly as a lender’s local counsel. Highlight include representing a number of lenders on a facility for the Zambian government.
The firm has done extensive work relating to copper mining, both in project finance and M&A, including advising EMR Capital on the acquisition of Lubambe mine and Standard Chartered on refinancing for the Kalumbia mine.