Partner | Trinity
Kaushik Ray
Partner | Trinity
Number of years practice: 17
Principal practice areas: Finance, project finance
Languages spoken: English, French, Italian, Bengali
What is the geographical focus of your practice in Africa?
Pan-African practice.
Please describe the most important matters you have worked on in the African market in the last two years, including your role and the significance of the matter (if any) to the development of business and law.
Over the past few years, a number of projects have been delivered by a team led by me. These include the first solar deal in Uganda (Soroti), the largest windfarm in sub-Saharan Africa, in Kenya (Turkana), a fantastic project to protect the mountain gorillas in Eastern DR Congo (Virunga) to name a few.
We are currently working on some significant transactions in Ethiopia, which will potentially change the market as regards foreign currency and arbitration et cetera. These types of projects are ground-breaking and massively facilitate new businesses and investments in a particular country.
What differentiates your practice from that of other private practice lawyers?
Almost entirely my practice is a sustainable practice, focussing on renewable and DFI-funded projects that promote sustainable development.
Why has Africa been a particularly strong focus for you?
I focus on frontier markets – and specialise in “first in country” deals, many of which are in sub-Saharan Africa. Doing first-in-country deals are an excellent way in creating markets, particularly if done in a sustainable manner.
What changes have you seen in the appetite for Africa-based ventures and investments over the last five years?
A huge upturn in interest but still there remains a lot of confusion and uncertainty regarding regulatory environments. We’re able to assist clients in the navigation of those uncharted waters.
Are there any aspects of the African legal market that you would like to see change?
Branding law firms does not equate to quality across a brand and law firms should be careful to manage clients’ expectations in this regard. Nurturing the excellent talent in a large number of jurisdictions should be a priority but requires consistent support, training and exposure to international best practice from firms based outside of the continent.
What megatrends do you think will shape the African market over the coming five years? How (if at all) will these trends affect your practice?
Technology will have a huge impact, in particular blockchain and AI. Decentralised solutions will also help empower the poorest and most vulnerable in society, for example off-grid power.