MMC Asafo

MMC Asafo Africa's leading International Law Firm serving both Anglophone and Francophone countries.
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MMC ASAFO recently acted as local counsel to Zenith Bank PLC, Nigeria's Number One Bank by Tier-1 Capital, in its 100% a...
10/06/2026

MMC ASAFO recently acted as local counsel to Zenith Bank PLC, Nigeria's Number One Bank by Tier-1 Capital, in its 100% acquisition of Paramount Bank Limited, a well-established commercial bank in Kenya. The transaction includes Paramount’s seven-branch network and its subsidiaries, PB Capital and Paramount Bancassurance. The transaction marks a significant milestone in Zenith Bank's entry into the East African market, accelerating the pace of pan-African banking.

The Firm's involvement reflects its expertise in cross-border M&A and its commitment to supporting transformative transactions that drive growth and competitiveness in key sectors such as banking and financial services.

Congratulations to our Corporate & Commercial team, led by our Managing Partner, Esther Omulele, Margret Muiruri & Stacy Ombati for their dedication and expertise in delivering this transaction. Well done!

Can a Kshs. 4.5 million deposit, a written offer, months of negotiations and acceptance create a binding land sale agree...
09/06/2026

Can a Kshs. 4.5 million deposit, a written offer, months of negotiations and acceptance create a binding land sale agreement?
According to the recent decision in Fit Tight FA-Steners Limited v Akiba Bank Limited, the answer is a resounding no.
The Court of Appeal reaffirmed the strict requirements of Section 3(3) of the Law of Contract Act, holding that without a written, signed and duly attested agreement, even a multi-million-shilling transaction may be legally unenforceable.
This decision serves as a critical reminder to investors, lenders, property developers and legal practitioners that commercial expectations, accepted offers and deposit payments cannot substitute statutory compliance.
Read our analysis of this landmark decision and its implications for property transactions in Kenya.

Who controls Kenya's growing pension savings?In a landmark ruling, the Supreme Court has drawn a clear line: pension fun...
02/06/2026

Who controls Kenya's growing pension savings?
In a landmark ruling, the Supreme Court has drawn a clear line: pension funds are not government coffers—they are independent trusts held for the benefit of members.
As pension assets approach KES 1 trillion, the Court has reinforced the responsibility of trustees to act solely in the interests of contributors and protect retirement savings from external influence.
The decision provides greater certainty for workers, trustees, employers, and policymakers, while strengthening confidence in Kenya's pension system.
Read our latest insight on what this ruling means for the future of retirement savings in Kenya. Click here for more👉https://bit.ly/4o3djzr

01/06/2026

MMC Asafo wishes all Kenyans a Happy Madaraka Day. Today, we celebrate the historic moment our founding fathers secured us the right to self-governance, paving the way for the nation we proudly call home.
As we commemorate this important day, we urge all Kenyans to continue upholding the values of unity and resilience that define our nation, Kenya. Happy Madaraka Day!

When is a deal truly binding? The Court of Appeal in Rao & another v Chheda & 2 others has clarified that preliminary ag...
29/05/2026

When is a deal truly binding? The Court of Appeal in Rao & another v Chheda & 2 others has clarified that preliminary agreements marked “subject to contract” do not amount to enforceable contracts unless a final agreement is executed.
Despite negotiations, exchange of drafts and payment of a deposit, the Court held that parties cannot be compelled to perform obligations where there is no signed binding agreement. The phrase “subject to contract” was found to reflect an intention to continue negotiations; not a final meeting of minds.
Preliminary agreements, letters of offer and heads of terms should be approached with caution. Until parties execute a clear and unequivocal contract, contractual obligations may not arise.
Click here for more: https://bit.ly/4nTMygJ

Happy Eid Al Adha. 🌙✨On this special day, we join our Muslim brothers and sisters in celebrating the ‘Festival of Sacrif...
27/05/2026

Happy Eid Al Adha. 🌙✨
On this special day, we join our Muslim brothers and sisters in celebrating the ‘Festival of Sacrifice’. This is a day where we honour the values of faith, obedience, compassion and generosity that define this celebration. At MMC Asafo we wish that this day brings peace, joy and countless blessings to you and your families.
Eid Mubarak! 🤍

Amid mounting public debt and growing infrastructure needs, Kenyans are asking tough questions about the new National In...
26/05/2026

Amid mounting public debt and growing infrastructure needs, Kenyans are asking tough questions about the new National Infrastructure Fund—is it simply another government piggy bank, or a real solution to our urgent infrastructure challenges? This article unpacks what the Fund means for Kenya: who runs it, whether it can deliver better roads and services without increasing debt, potential pitfalls and whether it can win the public’s trust.
Click here for more: https://bit.ly/4tY67Gf

Did you know that not every arbitration dispute is about who is right? Many are about what the loss is actually worth.Da...
25/05/2026

Did you know that not every arbitration dispute is about who is right? Many are about what the loss is actually worth.

Damages sit at the heart of international arbitration, yet they are often the most misunderstood part of a case. From full reparation principles to the realities of proving lost profits, quantum can define the true outcome of a dispute.

In this first part of our series, we break down what damages really mean, how tribunals assess them, and why concepts like causation, foreseeability, and mitigation matter more than most expect — especially in today’s growing cross-border disputes across East Africa.

Understanding damages is no longer optional. It is essential.

Click to read more: https://bit.ly/4v6aM9O

21/05/2026

An evening carefully planned out, where not even the rains could dim the spirit of engagement or the shared vision for sustainable business growth and international cooperation. Last Tuesday was truly a day to remember, at MMC Asafo, one for the records.

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