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Global law firm Clyde & Co advised the Federal Government of Somalia on its new 14-year concession agreement with Turkish contractor Albayrak Group for the rehabilitation and operation of the Port of Mogadishu.
Clyde & Co acted as sole legal adviser to the Federal Government of Somalia on all aspects of the matter, including drafting and negotiating the key transaction documents, as well as providing strategic advice on due diligence and regulatory approvals. Clyde & Co's mandate was underpinned by the African Legal Support Facility.
The Port of Mogadishu is the most important port of Somalia and one of the most significant in East Africa. As an initiative to develop and modernise the Port, the new agreement covered several aspects, including the continuation of the Port’s exclusive terminal operations and marine services by Albayrak under a revised revenue share arrangement, a rehabilitation and investment program to safeguard the port assets and respond to increasing trade flows, and the implementation of a state-of-the-art terminal operating system to increase efficiency and speed at the port.
Peter Kasanda, Managing Partner of Clyde & Co Tanzania and Global Board member, comments: “This is a landmark agreement and a significant development for Somalia. We look forward to continuing to support the Federal Government of Somalia in its various projects to improve and modernise its international transportation system."
The Clyde & Co team advising on the project was led by Peter Kasanda, with the support of Catherine Johnston (Legal Director - London), Laura Coates (Senior Associate - London), Imani Mselle (Associate - Dar es Salaam), Amreen Ayub (Associate - Dar es Salaam), Alex Devereux (Associate - London) and Ross Jenkins (Associate - London).
Clyde and Co's Projects & Construction group comprises over 150 lawyers world-wide and advises on the full project life-cycle, from planning and investment to construction and post-delivery. The group works across all asset types including transport, energy, infrastructure, commercial development and is proud to have advised on iconic projects across the world.
Clyde & Co is one of the largest international law firms operating in Africa, with over 100 professionals based full time in Cape Town, Johannesburg, Dar es Salaam and our recently opened office in Nairobi, Kangwana in association with Clyde & Co. Regularly advising on strategic projects across the region, the firm has deep rooted market knowledge based on over 20 years' experience, supporting clients operating and investing in markets across sub-Saharan Africa.