In short: six transactions recorded on The Meridian’s tracker between late September and late October 2026 show how African mandates are being staffed. Each one names counsel in a primary announcement. Domestic firms led on the Nigerian side, an international firm acted for the development-finance lenders, and regional firms acted for the Moroccan borrowers and targets.
The six transactions
| Date | Transaction | Market | Counsel named |
|---|---|---|---|
| 22 Sep 2026 | Akdital enters Saudi Arabia (three hospital transactions) | Morocco (outbound) | Asafo & Co. for Akdital; Al Tamimi & Company on Saudi law |
| 25 Sep 2026 | Ardova-led consortium agrees to acquire Powergas | Nigeria | Norton Rose Fulbright and TEMPLARS for the seller; Bloomfield LP and Charis & Mettle for the buyers |
| 6 Oct 2026 | Camco senior debt to Prado Power for solar mini-grids | Nigeria | TEMPLARS for Camco |
| 7 Oct 2026 | BII and FMO provide US$52m for Kafue Solar | Zambia | Clifford Chance for the lenders; Asafo & Co. for Globeleq |
| 15 Oct 2026 | IFC and Attijariwafa provide US$250m to Pickalbatros | Morocco | Clifford Chance for the lenders; ADNA for Pickalbatros |
| 22 Oct 2026 | SoPharma acquires a majority stake in CESMA | Morocco | Asafo & Co. for CESMA |
Three patterns
Development-finance lenders still buy London and Paris. Both lender-side mandates in the sample went to Clifford Chance: BII and FMO on Kafue, IFC and Attijariwafa on Pickalbatros. Borrower and sponsor counsel were local or regional (ADNA in Morocco, Asafo & Co. for Globeleq).
Nigerian M&A runs on two-firm teams. On Powergas, each side paired firms: Norton Rose Fulbright with TEMPLARS for A.P. Moller Capital, and Bloomfield LP with Charis & Mettle for Ardova and Diadem Energy.
Asafo & Co. appears three times in a month. The firm acted on Akdital’s Saudi expansion, CESMA’s sale to SoPharma and Globeleq’s Kafue project, across Morocco and Zambia. One month is not a trend, but it is a data point the tracker will keep counting.
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What the record does not show
Counsel to SoPharma, to Prado Power and to the Akdital counterparties were not named in the announcements reviewed. Four of the six transactions disclosed no value. The Meridian records what is published and sourced, and leaves the rest blank rather than estimating. Firms that acted on these matters can submit details for editorial consideration.
Track the whole market on the Transactions Tracker and the live Africa Legal Market Activity Index.
Sources: A.P. Moller Capital, 25 September 2026; TEMPLARS, 6 October 2026; Clifford Chance, 7 October 2026; Asafo & Co., 8 October 2026; Morocco World News, 16 October 2026; Asafo & Co., 22 October 2026; Asafo & Co., 22 September 2026.
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