IFLR1000 Reviews

Financial and corporate

NBMA Advocates is the Kenyan arm of South Africa based firm ENSafrica. The firm was formed by a spin-off of a four-partner team from established local firm Kaplan & Stratton in 2019. Founded in South Africa in 1905, ENSafrica is now a large pan-African law firm with a focus on commercial law. It employs more than 600 hundred lawyers across as offices in Ghana, Kenya, Mauritius, Namibia, Rwanda, South Africa, and Uganda. 

 

The firm is focused on financial and corporate, specifically M&A and restructuring and insolvency work, and infrastructure and power project development. 

Highlights  

NBMA Advocates (ENS Kenya) advised the International Finance Corporation (IFC) as the financier on the secured financing to finance the development of affordable housing units in the Two Rivers Development located in Nairboi, Kenya as well as the part refinancing of the outstanding liabilities of the Borrower with Stanbic Bank Kenya Limited. The team was led by partner Binti Shah and the project is currently ongoing 

 The firm is also advising Rubis Energy Kenya Plc with respect to a proposed joint venture with Solarise to develop and finance solar photovoltaic systems for some of Rubis’ premises and in future. The team was led by partner Amar Grewal-Thethy and the transaction was completed in November 2024.  

Executives Walter AmokoGeoffrey Muchiri, and Judy Kabubu all joined the firm in 2024 and 2025.  

 

Key Clients  

Development Bank of Southern Africa Limited; International Finance Corporation (IFC);  Agence Française De Développement; The Africa GGreen Fund (AGG) managed by Cygnum Capital (AGG); Société de Promotion et de Participation pour la Coopération Economique (Proparco) S.A. (PROPARCO); Roam Electric Limited (Roam); Rubis Energy Kenya PLC (Rubis); Eni Kenya BV (Eni); Agventure Limited (Agventure); Taylor Wessing LLP; Aga Khan Fund for Economic Development S.A. (AKFED); West China Cement Limited; BlackRock Inc.; Inflexion Private Equity Partners LLP; Safaricom PLC; SanlamAllianzFSD Africa Investments (“FSDAi”); Sanlam Allianz Africa (Pty) Ltd (“SAZ”); M-Pesa Foundation – CarePlay; Alterra Capital Partners; Development Bank of Southern Africa Limited (“DBSA”); Agence Française De Développement (“AFD”); Nedbank LImited 

 

 
 

Testimonials 2023-2024 

"Very good experience in their area of expertise. The fact the law firm has offices in the main countries of the region is a very positive point on multi-jurisdiction transactions. Communication between the offices is smooth and effective. " (Banking & Finance)

 

"They displayed a mastery of local law related to public entity borrowing, local capital market regulations and tax laws. The team provided exemplary advice on structuring options and went above and beyond in providing critical support in proposing options for issues we encountered." (Capital Markets: Debt)

 

"Timely action on issues. Quality of legal work was good – knowledge of subject matter and research work was first class. " (Capital Markets: Equity)

"Very professional, exceptionally knowledgeable, agile and responsive. " (Capital Markets: Equity)

 

"General M&A advice and deal structuring." (M&A)

"Excellent advice on structuring of the transaction and detailed input on the various agreements and facilitating an orderly completion process. " (M&A)

"The firm was competent, reliable, knowledgeable, and extremely swift in producing results and delivering the required actions and paperwork. " (M&A)

"Excellent input during the negotiations in legal matters, tax advice, follow-up on close-out actions and review of the share purchase agreement provided by the seller's lawyers. The firm also developed an employee stock ownership plan for the new organisation. Communications and feedback was very timely and informative, especially during Covid-19." (M&A) 

 

"Due to the requirements of the domestic operator and the borrower not appointing domestic counsel, we've relied heavily on the firm to craft a ring-fenced, insolvency remote structure that remains bankable. This involved a significant amount of structuring and negotiation, striking a fine balance between the bank's credit requirements, the domestic operator's requirements and providing appropriate guidance both in respect of Kenyan law and international banking and finance practice. The firm played a pivotal role in ensuring on the one side that appropriate restrictions in place and on the other side that we have a security structure acceptable to both the domestic operator and the borrower." (Project Development: Infrastructure)

 

"ENS are thorough but also pragmatic. In the two transactions I refer to, ENS has delivered timely and sound advice, I have been very happy with ENS' service." (Project Finance)

 

"Timely, responsive, approachable, discursive, partner, advisory." (Restructuring)

Mahesh Acharya 

"Intelligent and committed to quality."  

"Professional, knowledgeable, focused on solutions, agile and responsive. He is very sociable, too."  

"Understands the issues at hand and is able to give sound advice to resolve. Innovative and was able to guide through the acquisition process." 

Anina Boshoff 

"Pragmatic, risk-based approach. Management of efficient teams and delivery into tight timelines; highly experienced; positive engagement over the honouring of quotations."  

Anthony Gakuru 

"Communication, follow-up response, explanation of complex matters as applied to the matter at hand."  

Amar Grewal-Thethy 

"He was extremely professional and efficient. He understood the assignment and the client's way of conducting business – he provided very insightful feedback and is an expert in the field. " 

"Legal advice, client service and coordination." 

"All facets very professional and knowledgeable."  

Binti Shah 

"Responsiveness, problem solving." 

"Strong on law and reasoning from first principles. Solutions-oriented. Proactive. Advice takes into account need for good balance between legal risk management and commerciality." 

"She has excellent knowledge of the market, communication is easy, she is friendly and available."