Ugandan Law firm Shonubi, Musoke & Co. Advocates has won a treble of accolades at the first-ever in-person International Financial Law Review- IFLR Africa Awards held in Johannesburg, South Africa.
IFLR1000 is a leading international legal market research product specialising in ranking financial and corporate law firms and lawyers.
The IFLR helps consumers of legal services make informed strategic decisions when hiring external counsel.
They annually rank close to 5,000 law firms and more than 21,000 lawyers across 12 practice areas and 250 jurisdictions.
This year’s awards (fourth edition) saw nearly 100 attendees come together to celebrate the most legally innovative financial and corporate deals, teams and firms as well as outstanding individuals over the past 12 months.
The first in-person Africa Awards dinner welcomed legal practitioners from across the continent to celebrate and acknowledge the most impressive achievements of the legal community in Africa. The winners were decided based on a rigorous research process that involved reviewing hundreds of entries and interviews from across the African region and beyond.
Alan Shonubi, the senior partner at Shonubi Musoke & Co. Advocates in Kampala, won the Lifetime Achievement Award for his influence on legal practice, deal-making and the cross-border environment and leadership/mentorship of the next generation of lawyers.
Past winners of the award are Kojo Bentsi-Enchill, Iqbal Rajahbalee and Gbenga Oyebode.
In his remarks, Shonubi stated, “I made a blind decision in 1978 to study law when I was unsure of what else to do. I made another decision in 1987 to start a law firm from scratch when I had no family members who were lawyers. I met a man in 1990 who I decided to make my mentor. He and his family encouraged and supported me in my venture. The award means I made three of the best decisions of my life”.
He said that he is committed to continue mentoring young lawyers.
The law firm was also crowned National Law Firm of the Year – Uganda, in addition to winning the much-coveted Loan Deal of the Year in respect of a receivable-based secured syndicated facility to M-Kopa Uganda Limited.
This syndicated financing comprised parallel dual currency (Uganda Shillings and US Dollars) receivables-based secured facilities.
The lending was backed by a mix of development finance and commercial lenders, tied together through complex inter-creditor agreements.
The dual-currency structure was achieved through a swap arrangement, while the financing was guaranteed by entities in the UK and Delaware.
The complex deal, which marked the largest sustainability-linked syndicated facility in Sub-Saharan Africa in 2023, has since been replicated in other jurisdictions, including Ghana and Nigeria.
Shonubi Musoke & Co. Advocates together with Allen & Overy, a London-based law firm (through its South African office), acted for the arrangers, agents and lenders.
ALN, whose local member is another top-tier law firm, MMAKS Advocates, won the award for Legal Network of the Year.
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