Partner | Simmons & Simmons
Yves Baratte
Partner | Simmons & Simmons
Number of years practice: 18
Principal practice areas: Energy, natural resources and infrastructure projects
Languages spoken: French and English
What is the geographical focus of your practice in Africa?
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.
I have been advising the Djibouti Ports and Free Zones Authority (DPFZA) on several projects including the development of a major free trade zone in Djibouti. We have assisted DPFZA on the drafting and negotiation of all project contracts with their joint-venture partners (major Chinese state-owned companies led by China Merchants Group) as well as the financing of the project.
This project is key for the development of Djibouti and confirms Djibouti as a major hub for the region. We have been advising by the Chinese consortium bidding for the development of the Inga 3 hydro power project in the DR Congo. With a total investment of over US$12bn, the Inga 3 project is the first phase of the Grand Inga hydropower project, which is, once completed, going be the largest hydropower project in the world and the largest infrastructure on the African continent.
The Chinese consortium is led by Three Gorges Group, the developer of the Three Gorges Dam project, which is currently the largest hydro power project of the world, and China State Grid, which is the largest utilities companies in the world and ranks 7th in the Fortune 500.
With a team from our Paris and Beijing offices, we were selected by the Chinese consortium after a pitching process against five other international law firms. This is a trophy mandate that every top energy or project law firms in the world would love to win, which clearly demonstrates the strength of our energy and project practice in both China and Africa.
I’ve also advised EDF on the drafting and negotiation of all agreements for a joint venture with US start-up off-grid international for the large scale deployment of solar off-grid solutions in Ivory Coast and in Ghana. This is the first step of a major off-grid project. Off-grid solar solutions projects are currently a very hot topic in Africa.
Finally, I advised KFW on concessional loans to the Moroccan agency for solar energy (MASEN) with respect to major solar projects in Morocco. This illustrates the role of concessional loans in Morocco’s pioneering programme for the development of renewable energy. To act on this leading project for a sophisticated player like KFW illustrates the strength of our African energy expertise.
What differentiates your practice from that of other private practice lawyers?
We have more than 20 years of on-the-ground African experience [and] a genuine project focus, not a banking team doing project work from time to time, as well as a friendly client-first and hands-on approach. We are not the largest team but are very integrated, working on many projects with cross-border teams. [We provide] regular instructions on the largest projects: [the] Inga 3 hydro-power project, Noor IV and Noor Midelt solar projects and the Djibouti free trade zone project.
Personally, I have been ranked two years in a row amongst the three most active lawyers (out of 50) working in Francophone Africa by French magazine Jeune Afrique, and have been advising on transactions in Africa for over 15 years. As a firm, we have acted on matters involving all of the 54 countries that make up the African continent.
Why has Africa been a particularly strong focus for you?
The creation of our Africa desk 20 years ago as well as our solid dedicated standalone practice demonstrates that Africa truly is a key priority for Simmons & Simmons. As one of the fastest growing economies in the world and with a flourishing number of key emerging markets, Africa is gathering tremendous business opportunities. The team has developed an unrivalled knowledge of the continent and our experience has taught us how to truly understand the nuances of the African markets and to be able to give the most adequate advice in a most challenging and changing environment.
This has enabled us to become a very reputable legal advisor on the market advising our clients on some of the most complex projects on
the continent. Time has proven that our African focus is accurate and that the future of new opportunities lies within the wealth of this rising continent.
What changes have you seen in the appetite for Africa-based ventures and investments over the last five years?
We have seen constant growth in the appetite for African investments but with regular changes in the nature of the investors and the sectors of interest. For example, there has been a growing presence of funds investing in Africa, constant interest in energy and natural resources despite the variations in commodity prices, and in telecoms and multimedia, and growing interest in the African financial sector, agriculture or retail.
Are there any aspects of the African legal market that you would like to see change?
We will see growing sophistication of African law firms and a change in the way to work with them.
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?
Like with mobile banking, Africa will be at the forefront of many technology innovations, the lack of infrastructure requiring innovative solutions which sometimes bring Africa ahead of more developed countries. This will apply across sectors, in banking, energy or life sciences, and will impact directly what we do and how we work there.