Brian Shonubi


Brian Shonubi
Of Counsel

Brian specializes in banking and finance; and is currently a Director in the Africa Team of the Banking and Finance practice of Norton Rose Fulbright (South Africa), where he has been since 2011. Prior to joining Norton Rose Fulbright, Brian worked as an Associate with the firm for two years, followed by a  six months placement with the Standard Chartered Bank in Johannesburg.

His practice specialty includes project finance, corporate syndicated lending, and structured trade and commodity finance; with a focus on cross border and emerging markets work.

He holds an LLB (Honours) Degree from University of Warwick, UK, and was called to the Bar of England and Wales after completing his Bar Vocational Course (BVC) at Nottingham Law School at the University of Nottingham Trent. 

He is also a member of the Loan Market Association (LMA) Africa documentation committee, and contributed to the drafting of the LMA recommended form of the single currency secured and unsecured term facility agreement for multiple borrowers and guarantors for use in Kenya, Nigeria, Tanzania and Uganda; and the related User Guide.

Brian has co-authored a number of articles that have been published in the 2012 and 2013 editions of the IFLR1000, highlighting key features of the pioneer tax legislation in Uganda dealing with oil and gas revenues and the recently enacted oil and gas legislation in Uganda dealing with upstream and downstream production of petroleum respectively.

Brian is licensed to practice law in Uganda; and is a member of the Bar of England and Wales, the East Africa Law Society, and the Uganda Law Society.

Experience includes:

  • Advising the International Finance Corporation (IFC), a member of the World Bank Group, in relation to a five  year loan of N$ 180 million to Purros Investments (Propriety) Limited, a Special Purpose Vehicle created to support employee share ownership in Standard Bank Namibia Holdings Limited (SBNH), the holding company of Standard Bank Namibia.
  • Advising China Development Bank on the US$ 650 million senior credit facility and the US$ 200 million bridge facilities in respect of the Bakubung Platinum Mine formerly known as the Frischsgewaagd-Ledig project, in South Africa.
  • Advising Standard Bank on a US$170 million project financing of Ruashi in the Democratic Republic of Congo (DRC), and ZAR 300 million secured bridge financing of Metorex Proprietary Limited and subsequent transactions in relation to additional financing as well as restructuring advice.
  • Acting for Barclays Kenya in connection with a US$ 31 million financing of a geothermal independent power generation project with the World Bank (IDA), the Government of Kenya and the Kenya Power and Lighting Company (KPLC). The Project uses an IDA Partial Risk  Guarantee (PRG) instrument to mobilize commercial lending in the power sector in Kenya.
  • Acting for ZPC (the state electricity generating company of Zimbabwe) in connection with a 300 Mw Kariba Hydro Power Extension Project and transmission system upgrade with Sino-Hydro in Zimbabwe.  The total project size is in excess of US$ 500,000,000 and involves sovereign loans from China EXIM Bank to the government of Zimbabwe.
  • Acting for Absa/Barclays Group in relation to (i) the Republic of Ghana's US$ 686 million sovereign promissory note programme for the financing of the construction of seven civilian and military hospitals by Euroget De-Invest SA in Ghana, (ii) the direct and indirect participation by banks and other institutional investors in that programme through complex structured PN Agency and Inter-creditor arrangements and (iii) the back to back credit linked note (CLN) programme on the Johannesburg Stock Exchange (JSE).
  • Advising Ecobank on a US$ 77.5 million multi-currency trade facility covering nine Africa Countries including Uganda, Benin, Burkina Faso, Cote d' Ivoire, Guinea Bissau, Nigria, Niger, Senegal, and Togo.