Headed up by Wildu du Plessis and supported by Duduzile Kelokilwe, Alchemy Law assists financial institutions across the mining, industrials, and consumer goods sectors. Recently, it advised on a multi-million-dollar gold mining project, managing community opposition and structuring a unique mix of debt, equity, offtake, and hedging financing.
Banking and finance in South Africa
Alchemy Law
Bowmans
Bowmans‘s banking and finance team combines local expertise with international reach, leading complex financial transactions across Africa. Co-led by Ulrike Naumann and Allen Lueta, the team specialises in large-scale restructurings, mining deals, debt refinancing, sustainability-linked financing, and multi-jurisdictional transactions. Naumann is well-known for major cross-border financings, including a USD2.3bn mining acquisition. Jason Wilkinson has led major restructuring and multi-billion-dollar financing transactions. Pride Jani advises on leveraged finance, preference shares, and corporate lending with a commercial focus, while Jan Kruger is an expert in preference share funding and acquisitions. Michael Swartland brings expertise in private equity finance, syndicated lending, and restructurings. Ryan Nelson, Kelle Gagne and Amanda Jones joined from A&O Shearman in 2025.
Praxisleiter:
Allen B Leuta; Ulrike Naumann
Weitere Kernanwälte:
Jason Wilkinson; Pride Jani; Jan Kruger; Michael Swartland; Ryan Nelson; Kelle Gagne; Amanda Jones
Referenzen
‘Deep, capable team with lots of experience and very practical, commercial advice.‘
‘Jan Kruger provides practical, commercial advice and is a pleasure to work with.‘
‘The Bowmans team understands the competitive environment we are operating in. There is a lot of innovation and competition from a wide range of different businesses. They understand our business and the way we innovate and compete.’
Kernmandanten
Absa Bank Ltd
AbInBev, The South African Breweries
African Rainbow Capital
African Rainbow Minerals Ltd
Alexander Forbes Group Holdings Ltd
Alexander Forbes Life Ltd
ARM Coal Ltd
Ashburton Fund Managers Proprietary Ltd
Bank of China
Capitec Bank Ltd
Coca-Cola Beverages South Africa Propriety Ltd
Development Bank of Southern Africa
Fairfax Africa Investments Proprietary Ltd
FirstRand Bank Ltd, Rand Merchant Bank
Future growth Asset Management Proprietary Ltd
HSBC Bank plc
Imperial Logistics Ltd
Imperial Capital Ltd
Imperial South Africa Holdings Proprietary Ltd
Imperial South Africa Group Proprietary Ltd
Imperial Mobility International B.V.
Imperial Mobility Finance B.V.
Investec Bank Ltd
JP Morgan Chase Bank N.A. (London Branch)
Nedbank Ltd
Netcare Ltd
Ninety-One South Africa Proprietary Ltd
Old Mutual Alternative Investments Proprietary Ltd
Old Mutual Hybrid Equity Fund
Old Mutual Specialised Finance
Orion Mine Finance
Orion Resources Partners
Prescient Investment Management Proprietary Ltd
RMB International (Mauritius) Ltd
Sanlam Investment Management Proprietary Ltd
Sanlam Life Insurance Ltd
Standard Chartered Bank
The Standard Bank of South Africa Ltd
Stanbic Bank IBTC PLC
Stanbic Bank Kenya Ltd
Stanlib Management Proprietary Ltd
Trafigura PTE Ltd
Vedanta Resources
Pick ‘n Pay
Highlight-Mandate
ENSafrica
Well-known for its 'collective expertise and personal integrity', ENSafrica advises on all areas of debt finance, including leveraged and asset finance, corporate lending, restructurings, aircraft finance, and debt capital markets. Department lead Craig Saven routinely advises major local and international banks and development finance institutions on landmark deals across the mining, telecommunications, and tourism industries. Sean Lederman is a recognised expert in aircraft finance, Anina Boshoff is skilled across the financial services, mining, media, infrastructure, and agriculture sectors, and Jessica Blumenthal boasts expertise in ESG and sustainable finance. Further key contributors include Debbie Carmichael, Angela Itzikowitz, Alex Taylor, and Johann Basson.
Praxisleiter:
Craig Saven
Weitere Kernanwälte:
Sean Lederman; Anina Boshoff; Jessica Blumenthal; Debbie Carmichael; Angela Itzikowitz; Alex Taylor; Johann Basson
Referenzen
‚The team consistently goes above and beyond and offers proactive guidance, anticipating potential challenges, and remaining highly responsive throughout the process.‘
‚Their commitment to excellence and collaborative spirit has made them a trusted partner in navigating high-stakes transactions.‘
‚I would highly recommend ENS to any organisation seeking legal advisors who combine deep expertise with practical insight and exceptional client service.’
Kernmandanten
The Standard Bank of South Africa Ltd
DRDGold Ltd
Transnet SOC Ltd
International Financial Corporation
Nedbank Ltd
Absa Bank Ltd
African Bank Ltd
IDC
Highlight-Mandate
Webber Wentzel
Co-led by Khurshid Fazel and Lindi Marais, who ‘have excellent local market knowledge and contacts’, the banking and finance team at Webber Wentzel remains a pre-eminent South African practice, offering the full spectrum of banking and finance services. Fazel handles a wide range of funding deals, including leveraged finance, cross-border real estate, fund and acquisition financing, and restructurings, while Marais advises on specialised debt transactions, including standalone, syndicated, and term lending, locally and internationally. Kathy Shepherd represents corporate borrowers, Karen Couzyn focuses on DCM and structured finance, and Scott Edmundson advises on transport sector financing. Other key contacts include Janine Lamb, Rashaad Carrim, Matthew Gibson, Taheera Cassim, and Dawid de Villiers.
Praxisleiter:
Khurshid Fazel; Lindi Marais
Weitere Kernanwälte:
Kathy Shepherd; Karen Couzyn; Scott Edmundson; Janine Lamb; Rashaad Carrim; Matthew Gibson; Taheera Cassim; Dawid de Villiers; Faatimah Jaffer
Referenzen
‘Experience in banking and finance brought to bear for the benefit of clients.’
‘Kathy Shepherd and Faatimah Jaffer are responsive, detail-oriented, have exceptional knowledge in banking and finance and contractual law, and have the ability to cut through the noise and get to the crux of the issue.’
‘The depth of knowledge within this team is like no other in the South African market. The partners and juniors are skilled across all areas and can provide holistic advice.’
Kernmandanten
Actis LLP
FirstRand Bank Ltd
Nqaba Finance 1 (RF) Ltd
Absa Bank Ltd
Bank of China Ltd Johannesburg Branch
Mpact Ltd and various subsidiaries
Gold Fields Ltd
Marex Financial
Highlight-Mandate
- Acted as counsel for Actis LLP and the purchaser in relation to ZAR4.5bn syndicated acquisition funding made available (by way of a debt pushdown structure) for its acquisition of Swiftnet SOC Ltd (Swiftnet) from Telkom for an enterprise value of ZAR6.75bn, making it one of the largest tower transactions in the country to date by deal value.
Werksmans Attorneys
Werksmans Attorneys’ banking and finance department is home to 'industry leaders', and it is well-known for assisting with complex, high-value transactions. Practice head Elliott Wood specialises in leveraged and acquisition finance, management buy-outs, structured finance, and syndicated and bilateral lending. Richard Roothman advises on debt capital markets and project finance, Paul Tindle focuses on M&A and structured financing, and Tracy-Lee Janse van Rensburg guides banks and issuers on complex debt capital markets and structured finance. Astrid Berman's practice encompasses structured, project, and property finance, while Jenni Darling focuses on transactional financing, including secured, unsecured, and preference share funding. Lynsey Watson, Lureshan Naidoo, Aarthi Ramdhin, and Laura Alexander are also key contributors.
Praxisleiter:
Elliott Wood
Weitere Kernanwälte:
Richard Roothman; Paul Tindle; Tracy-Lee Janse van Rensburg; Astrid Berman; Jenni Darling; Lynsey Watson; Lureshan Naidoo; Aarthi Ramdhin; Laura Alexander; James Wewege
Referenzen
‚Extremely personable, always accessible, industry leaders.’
‘Jenni Darling is easily the best in the market. Exceptional interpersonal skills. Always accessible. Wears a commercial/strategic hat which is unique.‘
‘Excellent lawyers.‘
Kernmandanten
Investec Bank Ltd
Absa Bank Ltd
Firstrand Bank Ltd
The Standard Bank Of South Africa Ltd
Nedbank Ltd
Westbrooke Yield Plus Plc
Vantage Capital Group (Pty) Ltd
Blue Label Telecoms Ltd
African Clean Energy Developments (Pty) Ltd
Burstone Group Ltd
Highlight-Mandate
- Advised a consortium of South African banks and companies comprising Absa Bank Ltd (acting through its Corporate and Investment Banking division), FirstRand Bank Ltd (acting through its Rand Merchant Bank division), The Standard Bank of South Africa Ltd (acting through its Corporate and Investment Banking division), Nedbank Ltd (acting through its Nedbank Corporate and Investment Banking division), Depfin Investments Proprietary Ltd, and Rapvest Investments Proprietary Ltd on the largest syndicated preference share funding deal to close in the South African market.
- Advised a consortium of lenders comprising Investec Bank Ltd (acting through its Investment Banking division: Sponsor Leveraged Finance), FirstRand Bank Ltd (acting through its Rand Merchant Bank division), and the Standard Bank of South Africa Ltd (acting through its Corporate and Investment Banking division) on the provision of bridge funding to facilitate the acquisition by Frogfoot Networks Proprietary Ltd of the business of ATC South Africa Wireless Infrastructure Proprietary Ltd to aid Frogfoot’s expansion of its fibre network infrastructure business
- Acted as legal counsel to Investec Bank Ltd in providing a funding package to Old Mutual Private Equity and Sphere Investments Proprietary Ltd for the acquisition of Much Asphalt Proprietary Ltd (South Africa’s leading independent manufacturer and supplier of bituminous products) from JSE-listed AECI Ltd.
Cliffe Dekker Hofmeyr
The 'well-rounded' banking, finance and projects team at Cliffe Dekker Hofmeyr continues to represent commercial banks, development finance institutions, major SOEs, and other corporations. Co-leader Mashudu Mphafudi routinely advises on project, leveraged, acquisition, and corporate finance, private equity funding, and restructurings, and co-leader Johan de Lange boasts experience in general corporate lending, including syndicated and bilateral facilities. Ludwig Smith and Deon Wilken are experienced practitioners, while Andrew van Niekerk specialises in EPC, PPP, and IPP services for clients in the infrastructure, energy, mining, transport, and real estate industries. Amelia Heeger is another key figure in the team.
Praxisleiter:
Mashudu Mphafudi; Johan de Lange
Weitere Kernanwälte:
Ludwig Smith; Deon Wilken; Andrew van Niekerk; Amelia Heeger
Referenzen
‘Johan de Langer is a phenomenal lawyer. Commercial and practical, and will get a deal across the line.‘
‚Amelia Heeger is one of the brightest lawyers that I have had the pleasure of working with. She understands clients‘ needs as well as mitigating risk.‘
‘The team is well-rounded and includes lawyers with different levels of experience.‘
Kernmandanten
Lualaba Power and Mining Engineering Services
Old Mutual Life Assurance
Vodacom
HDF Energy
EduFund
Clientele
Nedbank
Standard Bank
Investec
Rand Merchant Bank
Absa Bank
Highlight-Mandate
- Advising Lualaba Power and Mining Engineering Services on the development and financing of a USD550m hydroelectric dam in the Democratic Republic of the Congo.
- Advising Vodacom on various complex cross-border transactions, including on funding for the refinance of intercompany debt to acquire 55% of the issued shares in the ordinary share capital of Vodafone Egypt, among other matters.
- Advising HDF Energy on the high-profile financing and development of a USD multi-billion green hydrogen project, which will be the first of its kind in South Africa and one of the first in the world.
Norton Rose Fulbright South Africa Inc
With expertise in acquisition finance, refinancing, general finance, trade finance, and preference share financing, Norton Rose Fulbright South Africa Inc stands out in the market. Practice head Jackie Midlane manages a strong client portfolio, including financial institutions and project sponsors. Steven Chemaly advises on domestic and cross-border financing, including receivables finance, while Izak Lessing specialises in mezzanine and commercial property finance. Malibuye Cossie focuses on lending and project finance, Michelle David handles regulatory matters, Shawn Barnett excels in structured and derivative transactions, and Gregory Nott is another key contributor to the practice.
Praxisleiter:
Jackie Midlane
Weitere Kernanwälte:
Steven Chemaly; Izak Lessing; Malibuye; Michelle David; Shawn Barnett; Gregory Nott
Referenzen
‘Excellent care is taken. The client is well represented. A lot of expertise.‘
‘Jackie Midlane is extremely passionate about getting the best results for her clients.‘
Kernmandanten
The Standard Bank of South Africa Ltd
Infinity Power
Red Rocket South Africa
Development Finance Institute Canada Inc.
Nedbank Ltd (London Branch)
Barclays Bank plc
Highlight-Mandate
- Advised the Red Rocket group on securing funding from FirstRand Bank Ltd (acting through its Rand Merchant Bank division).
- Advised Standard Chartered Bank, DZ Bank AG Deutsche Zentral-Genossenschaftsbank, New York Branch, and KFW IPEX-Bank GmbH (Foreign Lenders) and Multilateral Investment Guarantee Agency on the South African law aspects of the complex debt restructuring of the Land and Agricultural Development Bank of South Africa, as well as the transition from LIBOR to Secured Overnight Financing Rate.
- Advised TotalEnergies Renewables and Mulilo Energy Holdings Proprietary Ltd (together the Sponsors) and Mulilo De Aar 2 South (RF) Proprietary Ltd (Project Company) on securing preference share funding from Absa Bank Ltd (acting through its Corporate and Investment Banking Division), The Standard Bank of South Africa Ltd (acting through its Corporate and Investment Banking Division), and Nedbank Ltd (acting through its Corporate and Investment Banking Division) through Depfin Investments Proprietary Ltd (together Subscribers).
White & Case LLP
White & Case LLP advises on complex matters involving regulatory capital loans and bonds, private equity investments, sustainable development, and syndicated loan financings, among others. Team leader Lionel Shawe advises leading banks and financial institutions operating across the African continent. Sibusiso Zungu is adept in leveraged, trade, project, property, and export credit finance, as well as restructurings and financing for sovereign and state-owned entities, while Lindani Mthembu is skilled in cross-border banking and finance transactions. Sboniso Cibane, and Elaine Langa are experienced in debt finance matters.
Praxisleiter:
Lionel Shawe
Weitere Kernanwälte:
Sibusiso Zungu; Lindani Mthembu; Sboniso Cibane; Elaine Langa
Referenzen
‚Lionel Shawe has expertise in many fields, including banking law, equities, derivatives, debt issuances, collective investment schemes, tax, etc. This is a rare and unique skill set, extremely valuable to clients who work with structured products, where many of these fields of expertise are required in a single product.‘
‚Lionel Shawe’s expertise in many fields of law and tax, his excellent drafting skills and his practical, commercial approach to complex matters is absolutely exceptional.‘
Kernmandanten
MTN Group
Nedbank
Rand Merchant Bank
Absa Bank Ltd
Standard Bank Group Ltd
Transnet
Telkom SOC
National Treasury of the Republic of South
Africa
Nampak
International Finance Corporation
Citibank
Development Bank of Southern Africa
Eskom
Goldman Sachs
Thungela Resources
Emira
African Development Bank
AfroCentric Group
Whitebox Advisr
Vantage Data Centers
Philasande Afrika Healthcare
Highlight-Mandate
Baker McKenzie Johannesburg
Recognised for its ‘deep technical expertise’, Baker McKenzie Johannesburg advises on secured and unsecured lending, leveraged finance, and structured trade finance across South Africa and the African continent. Department lead Phetole Modika advises on general banking, acquisition and leveraged finance, structured trade, and municipal/public finance, while Pitso Kortjaas supports domestic and international clients with finance and debt capital markets matters. Koketso Maake is notably skilled in leveraged finance, debt restructurings, acquisition finance, and syndicated lending, and further key contacts include Nyameka Nkasana and Kaoma Vokwana.
Praxisleiter:
Phetole Modika
Weitere Kernanwälte:
Pitso Kortjaas; Koketso Maake; Nyameka Nkasana; Kaoma Vokwana
Referenzen
‘The team is agile and willing to accommodate special requests without compromising on the core agreements that align with the client.‘
‘Always available and their acknowledgement of comms makes it easy to work with. Nyameko Nkasana and Pitso Kortjaas have been amazing‘
‘What makes this practice unique is the combination of deep technical expertise and a very strong grasp of the regulatory environment.‘
Kernmandanten
FirstRand Bank Ltd
Development Bank of Southern Africa Ltd
Independent Institute of Education Proprietary Ltd
Standard Chartered Bank
The Standard Bank of South Africa Ltd
Nedbank Ltd
Highlight-Mandate
- Advised FirstRand Bank Ltd (acting through its Rand Merchant Bank division) and The Standard Bank of South Africa Ltd (acting through its Corporate and Investment Banking division) on finance and banking matters in connection to their funding of Zeda Financing Ltd.
- Advised Development Bank of Southern Africa Ltd on its provision of various term loan facilities to GNI Social Housing Proprietary Ltd for purposes of funding social housing projects approved by the Gauteng Provincial Government and the Social Housing Regulatory Authority in order to combat the housing shortage in the province.
- Advised the Independent Institute of Education (Proprietary Ltd on ZAR1.35bn term loan facilities made available to it by Absa Bank Ltd to fund its general corporate purposes.
CMS South Africa
Led by Riza Moosa, the banking and finance department at CMS South Africa advises banks and financial institutions on major refinancing, development, and project finance transactions. Moosa is skilled in complex, high-value cross-border financial restructurings and insolvency matters, and he is ably supported by Muzi Kubeka, who has developed a portfolio of major clients, and Andre van den Berg, who focuses on leveraged, syndicated, asset, acquisition, and real estate financings, as well as preference share transactions. Mbali Nene and Karabo Kanapi also support the team.
Praxisleiter:
Riza Moosa
Weitere Kernanwälte:
Muzi Kubeka; Andre van den Berg; Mbali Nene; Karabo Kanapi
Referenzen
‘It is a team of brilliant experts.‘
‚The partners have been in the industry for more than 10-15 years, and they always deliver exceptional services, be it advisory, drafting or matter management.‘
Kernmandanten
African Development Bank Group Limited
Jumo World Uganda Limited
Highlight-Mandate
- Advised African Development Bank on a 25-year, USD1bn loan for Transnet SOC Limited backed by a guarantee from the Government of South Africa; the loan will assist Transnet’s recovery plan seeking to improve existing capacity ahead of expansion for the priority segments throughout the transport value chain by restoring freight volumes and return the company to profitability over a period of 18 months.
- Advised African Development Bank as the mandated lead arranger and Development Bank of Southern Africa as co-funder on a senior, unsecured USD70m corporate loan to Portos e Caminhos de Ferro de Mocambique EP, the Ports and Railways of Mozambique Company.
- Advised JUMO World Uganda on a landmark crypto finance deal in Sub-Saharan Africa, which included advising on a structured finance transaction with Stanbic, as the senior lender, providing loan funding ultimately for JUMO Uganda to its customers and partnerships with various mobile network operators.
DLA Piper
Spearheaded by Nick Grootes, the banking and finance team at DLA Piper routinely advises banks, development funders, and large corporates across South Africa. Grootes focuses on acquisition financing, corporate lending, real estate finance, and debt restructurings. Jackie Pennington advises lenders and borrowers on local and cross-border financing, including secured, leveraged, and syndicated loans, while At van der Merwe advises on a diverse range of financing transactions. Byron Bromham and Malachizokok Mpolokeng are further key contributors. In January 2026, Melusi Dlamini joined from Norton Rose Fulbright 's London office, bolstering the finance and projects practices.
Praxisleiter:
Nick Groots
Weitere Kernanwälte:
Jackie Pennington; At van der Merwe; Byron Bromham; Malachizokok Mpolokeng; Melusi Dlamini
Kernmandanten
International Finance Corporation
FirstRand Bank Limited
Standard Bank of South Africa Limited
Phatisa Fund Managers 2 Limited
Paladin Energy Ltd
SolarAfrica Energy
Absa Bank Limited
Rain Group Holdings Proprietary Limited
Titan Premier Investments Proprietary Limited
Solevo Suisse SA
Investec Bank Limited
Nedbank Limited
Highlight-Mandate
Fasken
Fasken advises local and international banks on general banking and finance matters, including leveraged, acquisition, real estate, trade and commodities, restructuring, and development finance. Practice head Lara Bezuidenhoudt excels in PPPs and project finance for infrastructure projects spanning the transport, energy, telecoms, and mining sectors. Craig Whitley advises on complex cross-border financing transactions, and Ashen Jugoo specialises in project, infrastructure, and corporate finance, including PPPs. Blaize Vance, Simone Bryson, Marli Roode, Hlengiwe Kabini Zondo, and Arnold Sagonda are also key contributors to the practice.
Praxisleiter:
Lara Bezuidenhoud
Weitere Kernanwälte:
Craig Whitley; Ashen Jugoo; Blaize Vance; Simone Bryson; Marli Roode; Hlengiwe Kabini Zondo; Arnold Sagonda
Kernmandanten
Absa Bank Ltd
Nedbank Ltd
The Standard Bank of South Africa Ltd
FirstRand Bank Ltd
Ashburton Fund Managers Proprietary Ltd
Mahlako Energy Fund I Partnership
United States International Development Finance Corporation
27Four Investment Managers
Agence Francaise De Development
Industrial Development Corporation of South Africa Ltd
Highlight-Mandate
- Advised Standard Bank Eswatini Limited and the Public Service Pension Fund, to act as Lenders Legal Advisor to Standard Bank Eswatini (as Original Lender) and Public Service Pensions Fund (as Original Lender,) on all aspects relating to the project financing of a 13.5 MW hydroelectric generation facility.
- Advised Absa Bank Ltd, Development Bank of Southern Africa Ltd, and The Standard Bank of South Africa Ltd, in their capacity as finance parties, on the project financing of the development, construction, operation, and maintenance of a 242 MW wind farm
- Advised Nedbank Ltd and The Standard Bank of South Africa Ltd on the 80MW Zondereinde Solar PV project developed for Northam Platinum Ltd.
RAMS Attorneys
Well-known for its 'expert and knowledgeable personnel', RAMS Attorneys provides focused legal advice on finance and project finance law, including on complex transactions and regulatory compliance matters. Practice head Thabang Shomang specialises in finance, energy, property, and public procurement, leveraging extensive experience in both public and private sectors to deliver practical legal solutions for complex financial and infrastructure projects.
Praxisleiter:
Thabang Shomang
Referenzen
‘The dedication, commitment and the time they put in when dealing with a matter encourages them not to be defeated. They always make sure they come with a win.‘
‘They have expert and knowledgeable personnel in the department, which makes it very easy for them to handle any matter with excellence.‘
‚They treat all matters of a client by giving it full attention and diligence.‘