Selected engagements across two decades of African financial advisory practice.
Client identities are anonymised by sector and tier; engagement scope, geography, and outcome are accurate. Where multilateral institutions are named, the relationship is matter of public record
Selected clients and partners
Past and present — across two decades of African financial advisory practice
Multilateral & Development Finance
Banks & Financial Institutions
Academic & Professional Bodies
Pan-African insurance group — M&A due diligence and valuation
Multi-country financial and operational due diligence plus enterprise valuation of an insurance group with operations across four East and Southern African markets (Kenya, Tanzania, Malawi, Mozambique). Engagement combined regulatory regime mapping, cross-jurisdictional financial normalisation under IFRS, and a consolidated discounted cash flow valuation defensible to both the acquiring institution and the regional regulators reviewing the transaction.
Private equity firm — Pan-African acquisition coordination
Lead acquisition coordinator for a private equity firm executing a multi-country mid-market acquisition programme across Kenya, Zambia, Ghana, Mauritius, and Zimbabwe. Scope included target identification, financial and commercial due diligence, deal structuring within each jurisdiction's investment code, and post-acquisition 100-day integration planning. The mandate gave us deep operational visibility into the structural differences between Anglophone East African, Southern African, and Indian Ocean financial systems.
$300M agri-food value chain — Portfolio acquisition advisory
Lead advisory for the acquisition of an agri-food value chain portfolio valued at approximately US$300 million, spanning primary production, processing, logistics, and distribution. Scope covered commodity flow analysis, counterparty credit assessment across the contract-grower base, climate and physical risk overlay on production geographies, and a financing structure that combined senior debt, mezzanine, and DFI-aligned concessional capital.
Tier 1 East African bank — Enterprise valuation
Enterprise valuation of a Tier 1 East African commercial bank conducted for a strategic investor evaluating a minority equity stake. Engagement included three-statement modelling, peer-comparable multiples analysis, regulatory capital adequacy stress-testing, and a downside scenario reflecting elevated NPL formation in the bank's SME book. The investor proceeded to a binding offer based on the valuation range.
Kenya / Somalia — Islamic banking institution setup
Lead advisory for the establishment of a cross-border Islamic banking institution operating across Kenya and Somalia, with an initial capitalisation of approximately US$30 million. Engagement covered Shariah-compliant product design, dual-regulator licensing strategy, governance and Shariah board composition, and operational launch readiness. The institution successfully obtained regulatory authorisation and commenced operations.
Tier 2 Kenyan listed company — IFRS 9 / IAS 39 financial reporting
Financial reporting advisory for a Nairobi Securities Exchange listed institution navigating the transition from IAS 39 to IFRS 9. Scope included expected credit loss (ECL) methodology design, PD-LGD-EAD model calibration, hedging documentation under IFRS 9 hedge accounting, and disclosure framework alignment with both IFRS and Capital Markets Authority listing requirements.
East African dairy investment fund — Portfolio review
Independent review of a US$5 million East African dairy investment fund covering portfolio composition, underlying borrower credit quality, climate risk overlay on production zones, and recovery prospects on non-performing positions. Deliverable was a board-ready remediation plan with explicit segregation of recoverable, restructure-candidate, and write-off positions.
Ghana — Hospitality construction and financing advisory
Transaction advisory for the construction and financing of a seven-property student-hostel portfolio across Ghana. Scope included site feasibility, construction risk pricing, debt-to-equity structuring, and identification of a senior debt syndicate willing to lend against a hospitality asset class with limited Ghanaian precedent. The structure created a template subsequently adapted for similar transactions in the region.
Rwanda — Development bank student finance product
Concept-to-business-plan advisory for the design of a student-financing product to be deployed through a Rwandan development bank. Engagement covered product design, eligibility framework, credit risk pricing for an unsecured tertiary-education borrower segment, recoveries methodology, and Treasury-aligned funding architecture. The product launched into a market with no comparable predecessor.
Rwanda — Hospitality asset valuation and rehabilitation
Valuation and rehabilitation advisory for a Rwandan hospitality asset, including operational benchmarking against regional peers, capex prioritisation, financing structure for the rehabilitation programme, and an operating-model redesign aligned with post-pandemic regional tourism patterns.
Senegal — Cross-border mining transaction
Financial advisory for a US$1.5 million cross-border mining transaction structured under West African investment law. Engagement covered counterparty diligence, valuation, and structuring of the cross-jurisdictional cash-flow and tax flows. The mandate gave us operational exposure to Francophone West African legal architecture as it interfaces with Anglophone capital sources.
Tanzania — Rail logistics market study
Independent market study for a proposed rail-logistics service across a Tanzanian commodity corridor. Scope covered freight volume projections, modal-share analysis against road logistics, regulatory and concession-framework assessment, and a financial model defensible to a development-finance underwriter assessing a sovereign-guaranteed structure.
Due diligence advisory for a proposed telecom acquisition in Burundi. Engagement covered regulatory framework analysis, ARPU and churn benchmarking against regional peers, infrastructure capex assessment, and a sensitivity-tested valuation reflecting the political-risk environment. Outcome informed the acquirer's go / no-go decision.
Sub-Saharan Africa — Credit-skills assessment with FSD Africa and IPC GmbH
Continent-wide credit-skills assessment commissioned by FSD Africa in partnership with IPC GmbH. Scope covered competency benchmarking across credit-officer roles in nine African banking markets, gap diagnosis against contemporary credit risk standards, and a training-architecture recommendation that informed subsequent capacity-building investments by regional regulators and development finance institutions. (Public-record engagement.)
Pan-African — Capacity building for central banks and DFIs
Multiple training and capability programmes delivered to central bank examiners, development finance institutions, and tier 1-2 commercial banks across at least fifteen African markets. Subject areas span enterprise risk management, ICAAP / ILAAP, board governance, IFRS 9, climate risk management, trade and supply chain finance, and AML/CFT effectiveness. Programmes are CPD-accredited where applicable.
Engagement model
Three-stage path: Discovery call (free, 30 minutes) — scope, fit, indicative pricing. Diagnostic sprint (1–4 weeks, US$5K–25K) — a defined deliverable at a fixed fee. Engagement (8–24 weeks, US$25K–$250K+) — outcome-defined scope, milestone-paid. Discovery-to-engagement conversion typically takes two to four weeks.
Direct enquiries to advisory@africarisk.net or visit client.africarisk.net to scope the engagement.
