Kem Ihenacho – GC Powerlist
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Private Practice Powerlist: Africa Specialists

Private Practice

Kem Ihenacho

Partner; co-chair of the global private equity practice and the Africa practice group | Latham & Watkins

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Private Practice Powerlist: Africa Specialists

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Kem Ihenacho

Partner; co-chair of the global private equity practice and the Africa practice group | Latham & Watkins

About

Number of years practice: 20

Principal practice areas: M&A and private equity

Languages spoken: English

What is the geographical focus of your practice in Africa?

Pan-African practice with a focus on North and Francophone Africa, West Africa, East Africa and Central Africa.

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.

Recent experience includes advising Helios Investment Partners on its joint venture with Vitol to acquire the downstream business of Oando PLC in Nigeria, [this was] one of the largest private equity transactions in Nigeria ever. I also advised Helios Investment Partners on its investment in Starsight Power, a renewable energy company in Nigeria, as well as advising Starsight and Helios on various matters since the business was a start-up, including various equity and debt fundraisings.

I have also advised TA Associates on the acquisition of a minority interest in Interswitch, a Nigerian based Africa-focused integrated digital payments and commerce company. This was TA’s first investment in frica. Aon on the disposal of its insurance business in nine different Southern African countries to Capital Works, [this was] a complex transaction covering the restructuring and disposal of businesses across multiple countries. Amaya Capital on its joint venture with Actis to expand its power generation platform, in one of the most significant joint venture transactions in the power space across Africa. Savannah Petroleum PLC on its reverse takeover of business and assets of Seven Energy, Nigeria.

What differentiates your practice from that of other private practice lawyers?

I am the highest ranked private equity lawyer by various directories with a recognised Africa practice. I have advised various global investors on their first investments in Africa, and my clients have included some of the largest companies in Africa [including] the Dangote Group, Oando and IHS Towers.

My practice is very diverse and covers major private equity funds investing on the continent, multinationals investing and divesting asset, start-up investment holding companies, African corporates and financial institutions investing capital and raising public and private finance internationally.

Why has Africa been a particularly strong focus for you?

For the last ten years there has been a steady increase in the size and complexity of African transactions.

What changes have you seen in the appetite for Africa-based ventures and investments over the last five years?

[The] appetite has steadily increased.

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?

Increasing urbanisation and use of technology to drive further investment.


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