Jacqueline Wangui

Jacqueline has notable experience in Banking and Finance, Islamic Banking and Finance, Conveyancing, Land Use Planning and Property Taxes, Project Planning and Investment, Succession and Estate Planning, Company Law, Company Secretarial Services, Legislative and Regulatory Advisory Services and Corporate Governance.

She has acted for various financial institutions on a number of complex large size transactions, including several cross border syndications to the tune of USD.15.7M for Equity Bank (Kenya) Limited, one of the largest commercial banks in the region by assets and a wholly owned subsidiary of Equity Group Holdings Limited, and a KES.4B facility by a Pan African lender to an entity governed by the Public Finance Management Act, 2012. She routinely acts for KCB Bank Kenya Limited, a regional financial service provider with the largest banking network in Kenya (over 250 branches) and Barclays Bank of Kenya Limited, a leading commercial bank in Kenya and a subsidiary of ABSA Group Limited (formerly Barclays Africa Group limited) which enjoys heavy presence in Africa in their corporate and retail finance transactions.

Jacqueline has advised clients on the impact of policy statements and legislation on their business, through newsletters and legal alerts, and is a frequent contributor in Kenya’s business dailies.

Areas of Specialisation

  • Banking and Finance
  • Islamic Banking and Finance
  • Conveyancing
  • Land Use Planning and Property Taxes
  • Project Planning and Investment
  • Succession and Estate Planning
  • Company Law
  • Company secretarial services
  • Legislative and regulatory advisory services.
  • Corporate Governance

Top Matters

  • 2019: Currently advising Equity (Bank) Kenya Limited, in a term loan of approximately USD.8.7M advanced to a leading mining company incorporated and trading in the Republic of Tanzania and duly licenced to mine and trade in Tanzanite gemstone. The term loan is to be utilized by the borrower to redeem existing loans with Stanbic Bank (Tanzania) Limited and TIB Development Bank Limited, with Equity Bank (Tanzania) Limited acting as security trustee. Security documents were prepared using the Loan Market Association templates.
  • 2019: Currently advising Equity Bank (Kenya) Limited, in a term loan of approximately USD 7.013M advanced to a real estate company incorporated and trading in the Republic of Tanzania. The term loan is to be utilized by the borrower to finance working capital requirements including invoice financing and overdraft financing, with Equity Bank (Tanzania) Limited acting as security trustee. Security documents were prepared using the Loan Market Association templates.
  • 2019: Part of the team acting for a leading commercial bank in the provision of legal services to undertake loan takeovers from other banks at an unprecedented low rate of 11.5% which is two (2) points lower than other commercial banks in the country. The loans are exclusively takeovers of existing secured facilities from other banks.
  • 2019: Acted for Barclays Bank of Kenya Limited on a revolving credit facility of KES.303,000,000.00 issued to a top-performing private school in Kenya and the first school to be ranked in Top 100 Mid-Sized Companies in Kenya.
  • 2018: Acted for Barclays Bank of Kenya Limited in the issuance of credit facilities of KES.1,666,500,000.00 to one of the leading poultry operators in Kenya, for trade finance, specifically for the issuance of bonds, guarantees and indemnities in the normal course of trading; as well as an overdraft facility and a revolving short term loans facility, for working capital requirements.
  • 2018: Part of the team assisting a powerhouse hospital with recognition throughout East Africa and beyond to structure a home loan mortgage scheme for approximately 600 of its staff, to be advanced through Barclays Bank of Kenya Limited.
  • 2018: Advised Barclays Bank of Kenya Limited in a multi-option facility of USD.8M issued to one of the leading paper manufacturing companies in Kenya, for trade finance, specifically the purchase of raw materials for paper manufacture; financing cash flow timings differences; and refinancing matured letters of credit.
  • 2018: Advised Equity Bank (Kenya) Limited in the financing of a company for the importation, installation and commissioning of physical unclonable function (PUF) panels, racks, ammonia refrigeration systems, doors and accessories for a coldstore in Nairobi, Kenya from India; maturing Letters of Credit; and transport cost (ex-works to site in Nairobi), insurance cost, import duty cost, forklift and internal warehouse transport and other importation costs, in the sum of KES.95,000,000.00.
  • 2018: Acted for Equity Bank (Kenya) Limited on a credit facility of KES.500,400,000.00 advanced to a private university in Kenya for the construction of student hostels and tuition block at its main campus.
  • 2018: Advised Equity Bank (Kenya) Limited on a facility of KES.150,000,000.00 to a company with majority shareholding from the Democratic Republic of Congo that deals in the distribution of petroleum products in Kenya.
  • 2018: Acted for Credit Bank Limited, a commercial bank in Kenya renown for trade and corporate finance to SMEs, which was advancing facilities of KES147,000,000.00 to a renewable energy company, partly to facilitate the issuance of a performance guarantee to Kenya Power and Lighting Company Limited (Kenya Power) pursuant to a joint venture/teaming agreement with the Borrower to explore renewable energy options.
  • 2018: Acted for KCB Bank Kenya Limited in a facility of KES.70,000,000.00 advanced to a company offering heavy commercial vehicles in the transport and logistics industry in the region, to finance the acquisition of bulk industrial property for a local site in Tatu City, one of the largest mixed use development in Kenya.
  • 2017 – present: Part of the legal advisory team advising Kinoo Roadside limited, a real estate development company financed by the Danish development fund IFU, to offer affordable housing units, on all aspects of legal structure for a residential development on a parcel of land measuring approximately 0.477 hectares. The transaction involved the project finance from IFU as well as handling conveyancing on the end-sales.
  • 2017 – 2018: Acted for KCB Bank Kenya Limited in a first and further facility of KES.652,256,885.00 and KES.278,708,125.00 respectively, advanced to a producer and importer of fine quality portable spirits & beers, to finance the acquisition of bulk industrial property for a local plant in Tatu City, one of the largest mixed use development in Kenya.
  • 2017-2018: Advised Equity Bank (Kenya) Limited in banking facilities of KES.50,000,000.00 to finance the purchase of petroleum products by an oil marketing company that owns seven independent petrol stations and three dealerships in Kenya, and supplies fuel to independent fuel stations, hotels, hospitals and other industrial outfits, as well as supporting facilities of KES.100,000,000.00 from its subsidiaries.
  • 2017: Acted for Equity Bank (Kenya) Limited in a financing of approximately USD3.7M to a Nairobi-based investments and development company with Chinese links, for the acquisition of 2.25 acres of prime real estate from Next Gen Office Suites Limited, intended for the construction of five 14-floor blocks in a gated community consisting of 120 studio apartments, 240 one-bedroom apartments, 148 two-bedroom units and 16 three-bedroom units along Mombasa Road.
  • 2017: Acted for KCB Bank Kenya Limited on a loan facility of KES.800,000,000.00 advanced to an established construction company to finance the construction of a proposed mall along the Isinya-Magadi Road.
  • 2017: Acted for Bank of Baroda (Kenya) Limited, a subsidiary of Bank of Baroda India a top tier banking institution with branches across Africa and the Caribbean, in a syndicated multi-option loan facility of USD.2,015,800 to a 40-year old Kenyan manufacturing company specializing in the production of electrodes for various repair and maintenance applications.
  • 2017: Advised Industrial and Commercial Development Corporation (ICDC), a government parastatal, whose primary objective is to facilitate the investment by Kenyans in the economy of the country, on a KES.276,700,000.00 facility ICDC has approved loan facilities to a local fruit pulp manufacturing company to fund the purchase of new machinery for the manufacture of puree and concentrates of mango, pineapple, and passion from locally grown fruits, mainly from Kwale County as well as other counties in the Coastal and lower Eastern regions of Kenya.
  • 2017: Advised Industrial and Commercial Development Corporation (ICDC) in the redemption of an outstanding short term Loan with Equity Bank (Kenya) Limited and extension of business expansion facilities in the amount of KES.85,000,000.00 to a local manufacturing company to finance the acquisition of new machinery and business expansion.
  • 2016 – 2017: Acted for a renowned transport company in the disposition of prime industrial property worth KES.162,000,000.00.
  • 2016 – 2017: Rendered legal services to a private foreign investor in the purchase of holiday apartments in Watamu worth GBP 1,095,284.
  • 2016 – 2017: Acted for Lighthouse Properties Limited a property subsidiary of a leading Bank in the acquisition of property worth KES.152,000,000.00.
  • 2016 – 2017: Acted for a leading oil transporting company in the divesting of its assets worth over KES.150,000,000.00.
  • 2016 – 2017: Rendered legal services to Smart Gyms Limited for the lease of commercial property in a renowned mall.
  • 2016 – 2017: Advised a leading Kenyan commercial bank on issuance of performance guarantees worth RWF381,810,719 for a Rwandese client under receivership Acted for a leading aviation company in the restructuring of banking facilities worth over USD.5M.
  • 2015 – 2017: Rendered legal advisory services for Gateway Mall, a local mall, along Mombasa Road with a lettable area of approximately 200,000ft2 for over 100 potential commercial tenants.
  • 2013: Acted in the structuring of the Chase Group Foundation and Genghis Capital.
  • 2013: Part of the due diligence team that advised an institutional investor in its acquisition of shares in Family Bank Limited
  • 2013: Part of the legal advisory team involved in the structuring of Tatu City a 1000+ hectare multi–use development located within Greater Nairobi.
  • 2008 – 2013: Part of the legal advisory team involved in structuring the development and procuring title documents for owners in Green Park Estate, a 1000+ unit residential development located within Greater Nairobi.
  • 2012 – present: Undertaking corporate and legal review, advisory and amendment of security documents for various banks, including Barclays Bank of Kenya Limited, SBM Bank Kenya Limited (formerly Chase Bank (Kenya) Limited) and Imperial Bank Limited (now In Receivership), pursuant to the amendment of land laws, company law, insolvency law, moveable properties laws and all other laws affecting the real estate and financial sector.
  • 2008 – present: Undertaking regular advisories to various banks on Islamic banking and finance, including Dubai Islamic Bank Kenya Limited, Gulf African Bank Limited and SBM Bank Kenya Limited (formerly Chase Bank (Kenya) Limited).

Languages

  • English
  • Swahili

Countries of Work Experience

  • Kenya
  • Certificate, Capital Funding and Restructuring by the Kenya Property Developers Association
  • Certificate, Real Estate Investment Trusts, Kenya School of Law
  • Certificate, Islamic (Sukuk) Bonds, Central Bank of Kenya
  • Diploma in Islamic Banking and Finance, Umma University, Nairobi Campus
  • Postgraduate Diploma in Law, Kenya School of Law
  • Bachelor of Laws, University of Nairobi