Corporate M and A 2026

UGANDA Law and Practice Contributed by: Arnold Lule Sekiwano, Ritah Nakalema, Evelyn Maria Nakigudde and Collette Melvina Awano, Engoru, Mutebi Advocates

Engoru, Mutebi Advocates is a distinguished Ugan - dan law firm recognised for its expertise in banking and finance, mergers and acquisitions, projects and infrastructure, private equity, telecommunications, regulatory compliance, insurance, employment, im - migration, dispute resolution, and advisory services to local, international and multinational clients. The firm has successfully advised on notable M&A trans - actions, including Axian Group’s acquisition of a regulated microfinance institution operating across six African countries; Sanlam Allianz Africa’s share pledge and subsequent acquisition of Sanlam Allianz

General Insurance (Uganda) Limited from NICO Hold - ings Plc; and a major Japanese financial institution’s proposed financing of Asahi Group Holdings in rela - tion to its acquisition of East African Breweries Plc. Other highlights include Anza Capital’s investment in Emata Uganda Limited, Acumen Fund’s convert - ible note investments in agricultural enterprises, New Vision’s issuance of preference shares to the Gov - ernment of Uganda, and EQT Fund Management’s guidance on foreign fund marketing requirements for foreign firms in Uganda.

Authors

Arnold Lule Sekiwano is a partner in the Corporate and Projects team at Engoru, Mutebi Advocates and holds a Bachelor of Laws degree (LL.B.) (Hons) from the University of Hull, United Kingdom, and a Master of

Evelyn Maria Nakigudde is an associ - ate at Engoru, Mutebi Advocates. She holds a Diploma in Legal Practice from the Law Development Centre, Kam - pala, a Post Graduate Diploma in Tax and Revenue Administration from the

Laws degree (LL.M.) (International Economic Law) specialising in merger and acquisition finance from the University of Warwick, United Kingdom. He is also qualified to practise law in Uganda and is a member of the Honourable Society of the Middle Temple. He advises multinational and local clients on M&A and competition aspects that arise in amalgamations, mergers, demergers, acquisitions and takeovers in regulated sectors in Uganda.

East African School of Taxation and a Bachelor of Laws degree (LL.B.) (Hons) from the Uganda Christian University, Mukono. She has recently advised a multinational corporation on its tax structuring and compliance requirements relevant to market entry into Uganda and has also developed a keen interest in private equity and money markets transactions. She handles corporate transactions and regularly assists with client structure, M&A transactions and carve-outs and handles completion mechanics, including compe - tition and antitrust filings in Uganda.

Ritah Nakalema is a partner in the RCG and Disputes teams at Engoru, Mutebi Advocates, where she special - ises in governance, compliance and investigations for both domestic and international clients. Ritah is an

Collette Melvina Awano is a legal assistant at Engoru, Mutebi Advocates. She holds a Diploma in Legal Practice (Bar Course) from the Law Develop - ment Centre, Kampala, and a Bachelor of Laws degree (LL.B.) (Hons) from

International Lawyer for Africa (ILFA) Alumnus and has previously worked with the Banking and Finance team at Baker McKenzie, London office, where she advised on a number of export trade and sovereign debt transactions. She has also worked with the Corporate and Projects team at Hogan Lovells, London. She has successfully assisted clients in managing, identifying and prioritising their legal compliance and fraud risks.

Makerere University. She was part of the team that advised two lenders in connection with a senior secured facility of up to USD20 million. She has also recently advised Acumen Fund Inc. on its investment by convertible note in various entities operating in the agricultural value chain, and EQT Fund Management S.à r.l. on the marketing requirements for foreign funds in Uganda, focusing on investor-eligibility requirements and reporting requirements.

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