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Keith Mukami

Director

Keith Mukami

Johannesburg

T:+27 11 685 8804

Keith is a banking, regulatory and capital markets lawyer in our pan African banking and finance team based in Johannesburg. Keith has advised extensively on banking, regulatory and capital markets matters across the African continent for many years.

Keith is a dual qualified lawyer in England and Tanzania and has extensive experience advising a variety of clients in private pratice and in house (including DFIs (World Bank, Afrexim, AfDB), Bank of America Merrill Lynch and Credit Agricole CIB). Prior to joining our Johannesburg practice, he headed the Legal Department of the first pan African network of spot and derivative exchanges, clearing houses and depository platforms working closely with Afrexim and AfDB.

Keith has extensive experience advising on the establishment and operation of a range of businesses across the African continent. In doing so, he has engaged with a wide range of intermediaries and senior policy makers (particularly securities regulators and Central Banks) across the length and breadth of the African continent.

Keith advises on perimeter issues, compliance with regulatory rules in African markets, banking, investment management, derivatives, brokerage, custody and outsourcing arrangements, and has experience drafting legislation for African governments.

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  • Representative experience
    • Advising the Government Employees Pension Fund of South Africa (represented and acting through the Public Investment Corporation Limited) in a transaction involving the securities lending and delta placement of Vodacom Group Limited shares supported by a collar derivative structure.
    • Advising the Government of Malawi/World Bank on the development of a commodity exchanges bill as well as an appropriate legal and regulatory environment for commodity exchanges in Malawi.
    • Advising the Government of Tanzania/World Bank on the development and operationalisation of the appropriate market structure for a secondary bond market in Tanzania.
    • Advising the Government of Tanzania/World Bank on capacity building market intermediaries on derivative markets.
    • Advising a large mining company in Botswana on its commodity hedging programme.
    • Advising a South African private equity fund on a hedged equity financing transaction.
    • Advising Norfund on its agreement to acquire a significant stake in Equity Group Holdings (the leading banking group in East Africa) from Helios Investment Partners.
    • Advising a pan African bank on the discounting and subsequent listing of Ghana Government notes on the Irish Stock Exchange.
    • Advising the first pan African network of spot and derivatives exchanges, clearing houses and depository platforms initially targeted towards the jurisdictions of Cote D’Ivoire, Egypt, Ghana, Kenya, Nigeria, South Africa, Tanzania, Uganda and Zambia. The exchange is the first to offer exchange trading on commodity derivatives, African and Global currency derivatives, African equity index derivatives, CFDs on commodities and currencies.
    • Capacity building primary regulatory agencies in various forums to close gaps with international standards/norms/best practices and secure compliance with IOSCO/BIS and other international best practice setting bodies.
    • Advising a South African based bank on a proposed cross listing of a JSE listed ETF into Kenya.
    • Advising Bourse Africa Limited on due diligence performed by Afrexim Bank and AfDB in their proposed acquisition of a stake in the exchange.
    • Advising an investment bank as manager on the cross listing of a Kenyan bank onto the Uganda Securities Exchange.
    • Undertaking regulatory due diligence on an investment in a brokerage business in Namibia. Negotiating with and advising on obtaining approval for the transaction with the primary regulators.
    • Licensing of new operations for a bank in Ghana, Nigeria, and Zambia.
    • Advising a South African bank on its custody arrangements in a range of African countries including Nigeria, Zambia and Kenya.
  • Memberships and activities

    Member of the East Africa Law Society
    Member of the Compliance Institute of Southern Africa

    Keith is a regular speaker and participant at conferences and workshops around the continent and beyond focusing on the development of African financial/capital markets. Keith chaired a panel discussion in September 2015 at the Southern Africa Governance Risk and Compliance summit organised by Thomson Reuters in Johannesburg on the “Increasing extra territorial impact of laws/regulations on African banks and clients”. In September 2015, Keith also presented at the GTR Commodity Finance conference in Lugano, Switzerland on “A land of opportunity: Sub-Saharan Africa”. In March 2015, Keith presented at a conference organised by Thomson Reuters on “Financial services regulation: Key Developments” in Cape Town and moderated a panel discussion at a conference organised by Global Trade Review in Cape Town on “What does the impact of regulation mean for borrowers and banks in terms of funding?”.

    He presented at the Association of Futures Markets in Johannesburg on the “Important Elements in Establishing a Sustainable Exchange” and at a “Pan African workshop for Regulators of Derivatives and Commodity Exchanges” held in Gaborone, Botswana.

    Keith has also recently authored an article in Cultivate magazine (a specialist publication for the food and agribusiness sector) on “How Commodity Exchanges can help Africa’s fragmented farmers”. In addition, Keith has been interviewed on CNBC Africa on the same topic.