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Local Flavour
In this edition of the Africa Legal Podcast Series we move to Tanzania to speak to Michael Strain, a partner with Clyde and Co in Dar es Salaam.
Michael leads the firm’s corporate practice advising local and foreign companies on a wide variety of commercial and trade matters.
His conversation with Africa Legal’s editor Carol Campbell offers unique insight into an investment environment that sometimes falls under neighbouring Kenya’s shadow. The economies of East Africa are extremely resilient, he says, and post Covid-19, there will be a bounce back.
The podcast focuses on the challenges and opportunities for Private Equity (PE) in a smaller economy. PE in East Africa is a very different game, he warns, from countries like the UK, US and even South Africa. Almost all the money that is driving the PE industry comes through Development Finance Institutions. The purpose of this money should not be forgotten with impact, rather than return, often the driver of investment.
Michael says there are not enough appropriate “homes” to accommodate available funding and the challenge remains to find a way to enable more start-ups to access financial support.
Before leaving the United Kingdom nearly a decade ago Michael was a London solicitor but is now an advocate in Tanzania’s High Court. The country, he says, is one of the jewels of Africa and a place he is proud to call home.
You can listen on SoundCloud or Spotify.
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