William Byaruhanga, founder of MI’s Uganda member Kasirye Byaruhanga & Co, has been appointed Attorney General of Uganda by the country’s President, Yoweri Museveni. The appointment comes just weeks before the firm hosts MI’s first standalone African regional meeting for the network’s six African members. A recent report from Thomson Reuters also highlights the growth of M & A activity in East Africa over the last 18 months with 95 completed acquisitions.
Kasirye Byaruhanga & Co is one of Uganda's leading business law firms and provides a full range of corporate legal services to Ugandan and international businesses, financial institutions, the Government, charities and private individuals. The firm has been an MI member for four years. www.lawyer.co.ug/
Clive Mieville, managing director of MI said; “On behalf of MI, I am pleased to congratulate William on being appointed to the highest legal office in the country.”
MI’s first African regional meeting will be held in Kampala, July 22nd to 24th, and the agenda will focus on how members across the continent can join forces to provide integrated legal advice to global companies, especially inward investors, now doing business in Africa. They will also look at network growth with Botswana, Namibia and Zimbabwe top of the shopping list for new members.
Clive Mieville; “Africa is a top priority for MI, now a standalone region in the network, and we’ve seen a tangible increase in the number of MI member clients looking to Africa as a supply and customer base. They are also looking to Africa for growth. Our members are well placed to advise clients with the perfect combination of pan-African relationships, international outlook, sector expertise and local contacts. For firms in other African countries not yet in the network, MI provides the perfect platform to reach and service a global business market and to compete with the international firms now operating in these countries.”
In June, the UK legal magazine The Lawyer published analysis of a Thomson Reuters report which highlighted how ‘East Africa’s M&A market has grown in recent years as dealmakers flock to the region to get a slice of growing business and lawyers are starting to follow’. The report shows that 95 acquisitions have completed since 2015 involving a party from Kenya, Tanzania or Uganda.
Three of the 95 deals covered in The Lawyer article are;
• FTSE-100 finance business Old Mutual took control of Kenya-based insurer UAP Holdings in July 2015
• In February 2016 Danish business Maersk Oil completed its purchase of 50 per cent of Africa Oil Corp shares in three onshore exploration licences in the Turkana region of Northern Kenya and two further licences in Southern Ethiopia.
• Mid 2015, Mumbai drugmaker Cipla Ltd completed its acquisition of a 51 per cent stake in Uganda-based Quality Chemicals (QCL) for $30m.
Uganda's economy generates export income from coffee, tea, fish and other products. The country has substantial natural resources, including largely untapped reserves of crude oil and natural gas, fertile soils, regular rainfall, and sizeable mineral deposits of copper and cobalt. It also serves as an economic hub for neighboring countries Democratic Republic of Congo, South Sudan and Rwanda.
MI’s other African members are;
Algeria - Ghellal & Mekerba
Mauritius - The Chambers of Gavin Glover S.C.
Nigeria - Giwa-Osagie & Company
South Africa - Ramsay Webber Inc
Tanzania - Astute Attorneys
For more on William Byaruhanga and the Ugandan cabinet please see https://en.wikipedia.org/wiki/William_Byaruhanga and http://www.parliament.go.ug/new/index.php/members-of-parliament/cabinet-...