Africa Hughes Hubbard has maintained the reputation that saw one of our Paris partners named among the most influential business lawyers in French-speaking Africa by Jeune Afrique last year. Our work in the region included financings for major Côte d’Ivoire power plants, alongside representing exporters of cotton and cocoa.
Côte d’Ivoire’s Financing and Construction of First Biomass Power Plant
HHR is advising the Republic of Côte d’Ivoire on the financing of the construction and operation of the country's first biomass plant, the country's first and West Africa's largest biomass power plant. Our advice includes negotiating with the banks the direct agreement with the State, and setting out the terms of the relationship between the banks and the State for the duration of the project.
EBI’s Financing for Ivorian Cocoa Exporter
An HHR Paris team represented EBI, a French subsidiary of pan-African banking conglomerate Ecobank, and exporter Kinedin Commodities, in the negotiation of a commodity financing facility for Kinedin. The firm helped establish local collateral security agreements subject to the OHADA (Organization for the Harmonization of African Business Law) Uniform Act regulating securities.
West African Cotton Ginnery’s International Financing
HHR’s Paris team represented West African cotton company Société d'égrenage de Coton, or the Society for the Development of Cotton, in negotiation and documentation of an €80-million pre-export financing. Sodeco will use the proceeds for the financing of its 2021-2022 cotton season. The firm helped establish local collateral security agreements subject to the OHADA (Organization for the Harmonization of African Business Law) Uniform Act regulating securities.
Côte d’Ivoire’s Ayebo Power Plant
The firm advised Côte d’Ivoire on a project to design, finance, construct and operate the Ayebo biomass thermal power plant in two units, each producing twenty-three megawatts. After advising the Ivory Coast on the negotiation and finalization of the concession agreement and related documentation for the implementation of the project, the firm continued its assistance by acting on the financing of the project, and in particular the negotiation of a direct agreement with the lenders and an amendment to the concession agreement.
Côte d’Ivoire’s Cocoa Exports
Hughes Hubbard assisted the French commodities firm Sucres & Denrées Côte d’Ivoire SA in its pre-financing facility for cooperatives and local suppliers in the West African nation's cocoa sector. Suppliers will use the proceeds of the facility to purchase the bush cocoa product and for export packaging.
Côte d’Ivoire’s Hydroelectric Scheme
HHR advised Côte d’Ivoire on a project to design, finance, construct and operate the Singrobo-Ahouaty hydroelectric scheme, with an installed capacity of 44MW.