Zambia

Highlights  

Mulenga Mundashi Legal Practitioners acted as local counsel on the notification process to the Bank of Zambia regarding the planned indirect acquisition of Pay Now Zambia Limited. This transaction formed part of a larger acquisition where BCP VI Neptune Bidco Holdings Ltd sought to acquire Network International Holdings PLC through a scheme of arrangement. The team, led by Chipili Salati and Mike Chilufya, conducted regulatory analysis of Zambian financial and payment systems laws; prepared and submitted the required regulatory notification and supporting documentation to the Bank of Zambia; acted as a liaison between lead counsel A&O Shearman and Zambian regulatory authorities; and contributed to the broader multi-jurisdictional regulatory strategy by providing Zambian-specific insights. The transaction closed in September 2024.  

The firm has also been retained by Vedanta Resources Holdings Limited (VRHL) to structure and implement a multi-layered financing which includes creditor support funding, capital expenditure financing, a community support loan, and an employee bonus package. Acting as lead co-counsel, the team was responsible for the designing of the legal architecture for each financing component; the drafting and negotiation of financial documents, including facility agreements, security packages, and intercreditor arrangements; developing repayment prioritization mechanisms; advising on Zambian regulatory requirements; and coordinating with stakeholders. The transaction closed in July 2024 and was led by Mike Chilufya.  

Partner Hope Ndao joined the Banking & Finance team from Musa Dudhia & Co in January 2024.  

Key Clients  

Network International Holdings; Vedanta Resource Holdings Limited; Kobold Metals Company; Liquid Group of Companies; GenVision Engineering EAD 

Testimonials 2024/2025  

“Excellent services” (Private Equity) 

“Chipili Salati gives quality opinions and advice in corporate law.” (Private Equity)