Ryan Nelson
Partner | Cape Town
Contact
T: +27 21 480 7926
Overview
Ryan advises on a broad range of debt-related matters, including corporate lending, acquisition finance (including public to private), leveraged finance, structured finance, real estate finance, fund finance and debt restructuring. He has spent eight years of his career practising in the United Kingdom and practices both English and South African law.
Ryan works with leading South African and international banks, international development finance institutions, impact funds and private capital clients across jurisdictions and in multiple sectors including financial services, energy, real estate, mining and resources.
Experience
Jurisdictions worked in: South Africa, United Kingdom
Ryan has advised:
* experience gained prior to joining Bowmans.
General and leverage finance
- FirstRand Bank Ltd (acting through its Rand Merchant Bank division), AfricaGoGreen Fund For Renewable Energy and Energy Efficiency S.C.S. SICAV-RAIF and Mirova Sunfunder on a USD 65 million English law financing for KOKO Networks Ltd. This financing involved a bespoke structure to finance carbon credit receivables.*
- Mandated Lead Arrangers on the EUR 1.9 billion bridge financing to Group Canal + SA in relation to the offer to acquire MultiChoice Group Ltd.*
- The Arrangers (Standard Bank, Stanbic Kenya and Stanbic Uganda) and lenders (Stanbic Kenya, Stanbic Uganda, British International Investment, Cygnum Capital, Nithio, Mirova SunFunder, FMO, IFC and DFC) on two English law local currency and USD receivables-based secured syndicated credit facilities provided to M-KOPA Kenya Ltd and M-KOPA Uganda Ltd. This complex transaction won the Deal of the Year: Loans, IFLR Africa Awards 2024.*
- The Arrangers (Standard Bank, Stanbic Nigeria and Stanbic Ghana) and lenders (Stanbic Nigeria and Stanbic Ghana) on two English law local currency and USD receivables-based secured syndicated credit facilities provided to M-KOPA Solar Nigeria Ltd and M-KOPA Ghana Ltd.*
- FirstRand Bank Ltd (acting through its Rand Merchant Bank division) on a ZAR 3.5 billion financing of the acquisition of Octotel.*
- FirstRand Bank Ltd (acting through its Rand Merchant Bank division) on an English law GBP 34 million financing to Advencap Fibre Holdco Ltd.*
- AfricaGoGreen Fund for Renewable Energy and Energy Efficiency S.C.S. SICAV-RAIF on an English law USD 7.5 million e-mobility related financing for Ampersand Rwanda Ltd.*
- Bank of America in relation to its syndicated English law financing to Absa Bank Ltd.*
- Ninety One and Emerging Africa Infrastructure Fund on an English law USD 28 million financing to Paratus Group Holdings Ltd.*
- FirstRand Bank Ltd (acting through its Rand Merchant Bank division), Ninety One and Nedbank Ltd on their English law USD 120 million funding to Vasari Beverages BV and its subsidiaries.*
- A global financial institution in relation to a structured loan funding to Eskom (guaranteed by the Republic of South Africa).*
- Standard Bank and Stanbic Bank Ghana Ltd on an English law USD 60 million financing of Engineers and Planners Company Ltd.*
- Ninety One on an English law USD 10 million financing to ASA International N.V. and ASA International Holding.*
- FirstRand Bank Ltd (acting through its Rand Merchant Bank division) and the syndicate of senior lenders in respect of the restructuring of the debt and recapitalisation of RTT Group Ltd.*
- FirstRand Bank Ltd (acting through its Rand Merchant Bank division) as cash confirmation bank in respect of the public to private acquisition of Peregrine Holdings by Capitalworks (the deal won the Dealmakers 2020 PE Deal of the Year).*
- A global financial institution and FirstRand Bank Ltd (acting through its Rand Merchant Bank division) in relation to the public to private acquisition of Clover Industries Ltd (the deal was a nominee for the Dealmakers 2019 Deal of the Year).*
- FirstRand Bank Ltd (acting through its Rand Merchant Bank division), Absa Bank Ltd and Investec Bank in relation to ZAR 6.2 billion financing to Bud Group Ltd.*
- FirstRand Bank Ltd (acting through its Rand Merchant Bank division), Absa Bank Ltd and Investec Bank in relation to ZAR 3.61 billion of term, revolving and general banking facilities for the Synchem group of companies.*
- FirstRand Bank Ltd (acting through its Rand Merchant Bank division), Absa Bank Ltd and Investec Bank in relation to ZAR 2.685 billion of term, revolving and general banking facilities for the Inserve group of companies.*
- A global financial institution, a multinational financial institution and Bank of China Ltd in relation to the English law GBP 150 million of term funding to a subsidiary of Rand Merchant Investment Holdings Ltd to part fund the UK acquisition of an interest in Hastings Group Holdings plc.*
Real estate finance
- Standard Bank and Stanbic Bank Nigeria Ltd on a USD 48 million real estate financing to Everty Nigeria Ltd.*
- FirstRand Bank Ltd (acting through its Rand Merchant Bank division), Absa Bank Ltd and Nedbank Ltd in relation to the sustainability-linked loan funding to the V&A Waterfront.*
Fund finance
- Emerging Africa Infrastructure Fund in relation to its raise of various facilities from KfW, Allianz and Standard Bank of South Africa.*
- FirstRand Bank Ltd (acting through its Rand Merchant Bank division) in relation to a GP facility to Helios Partners.*
- FirstRand Bank Ltd (acting through its Rand Merchant Bank division) in relation to a GP facility to Convergence Partners.*
- FirstRand Bank Ltd (acting through its Rand Merchant Bank division) in relation to a capital call facility to Convergence Partners.*
- FirstRand Bank Ltd (acting through its Rand Merchant Bank division) in relation to a Holdco NAV facility to ADP Fund III.*
Restructuring
- The senior creditors in respect of the on-balance aspects of the restructuring of d.light*
Awards
- Ryan is highly regarded and widely recognised by Chambers, IFLR and Legal 500 as a leading finance lawyer in the markets in which he operates.
- Chambers Global ranked Ryan in Band 3 for his work in Banking and Finance in South Africa (2026) and prior to that, in Band 4 for the same category (2023-2025).
- IFLR1000’s Corporate and Financial Guide rated Ryan as Highly Regarded for his work in South Africa in 2025.
‘Ryan Nelson understands cross-border work very well and has a wealth of experience in African loan dynamics.’ – Chambers Global, 2026
AREA OF EXPERTISE
Qualifications
Education
- Bachelor of Laws, University of Cape Town.
- Bachelor of Commerce, University of Cape Town.
Professional Memberships
- Admitted attorney in the High Court of South Africa.
- Admitted in the High Court of England and Wales.
INSIGHTS
Overview
Ryan advises on a broad range of debt-related matters, including corporate lending, acquisition finance (including public to private), leveraged finance, structured finance, real estate finance, fund finance and debt restructuring. He has spent eight years of his career practising in the United Kingdom and practices both English and South African law.
Ryan works with leading South African and international banks, international development finance institutions, impact funds and private capital clients across jurisdictions and in multiple sectors including financial services, energy, real estate, mining and resources.
Experience
Jurisdictions worked in: South Africa, United Kingdom
Ryan has advised:
* experience gained prior to joining Bowmans.
General and leverage finance
- FirstRand Bank Ltd (acting through its Rand Merchant Bank division), AfricaGoGreen Fund For Renewable Energy and Energy Efficiency S.C.S. SICAV-RAIF and Mirova Sunfunder on a USD 65 million English law financing for KOKO Networks Ltd. This financing involved a bespoke structure to finance carbon credit receivables.*
- Mandated Lead Arrangers on the EUR 1.9 billion bridge financing to Group Canal + SA in relation to the offer to acquire MultiChoice Group Ltd.*
- The Arrangers (Standard Bank, Stanbic Kenya and Stanbic Uganda) and lenders (Stanbic Kenya, Stanbic Uganda, British International Investment, Cygnum Capital, Nithio, Mirova SunFunder, FMO, IFC and DFC) on two English law local currency and USD receivables-based secured syndicated credit facilities provided to M-KOPA Kenya Ltd and M-KOPA Uganda Ltd. This complex transaction won the Deal of the Year: Loans, IFLR Africa Awards 2024.*
- The Arrangers (Standard Bank, Stanbic Nigeria and Stanbic Ghana) and lenders (Stanbic Nigeria and Stanbic Ghana) on two English law local currency and USD receivables-based secured syndicated credit facilities provided to M-KOPA Solar Nigeria Ltd and M-KOPA Ghana Ltd.*
- FirstRand Bank Ltd (acting through its Rand Merchant Bank division) on a ZAR 3.5 billion financing of the acquisition of Octotel.*
- FirstRand Bank Ltd (acting through its Rand Merchant Bank division) on an English law GBP 34 million financing to Advencap Fibre Holdco Ltd.*
- AfricaGoGreen Fund for Renewable Energy and Energy Efficiency S.C.S. SICAV-RAIF on an English law USD 7.5 million e-mobility related financing for Ampersand Rwanda Ltd.*
- Bank of America in relation to its syndicated English law financing to Absa Bank Ltd.*
- Ninety One and Emerging Africa Infrastructure Fund on an English law USD 28 million financing to Paratus Group Holdings Ltd.*
- FirstRand Bank Ltd (acting through its Rand Merchant Bank division), Ninety One and Nedbank Ltd on their English law USD 120 million funding to Vasari Beverages BV and its subsidiaries.*
- A global financial institution in relation to a structured loan funding to Eskom (guaranteed by the Republic of South Africa).*
- Standard Bank and Stanbic Bank Ghana Ltd on an English law USD 60 million financing of Engineers and Planners Company Ltd.*
- Ninety One on an English law USD 10 million financing to ASA International N.V. and ASA International Holding.*
- FirstRand Bank Ltd (acting through its Rand Merchant Bank division) and the syndicate of senior lenders in respect of the restructuring of the debt and recapitalisation of RTT Group Ltd.*
- FirstRand Bank Ltd (acting through its Rand Merchant Bank division) as cash confirmation bank in respect of the public to private acquisition of Peregrine Holdings by Capitalworks (the deal won the Dealmakers 2020 PE Deal of the Year).*
- A global financial institution and FirstRand Bank Ltd (acting through its Rand Merchant Bank division) in relation to the public to private acquisition of Clover Industries Ltd (the deal was a nominee for the Dealmakers 2019 Deal of the Year).*
- FirstRand Bank Ltd (acting through its Rand Merchant Bank division), Absa Bank Ltd and Investec Bank in relation to ZAR 6.2 billion financing to Bud Group Ltd.*
- FirstRand Bank Ltd (acting through its Rand Merchant Bank division), Absa Bank Ltd and Investec Bank in relation to ZAR 3.61 billion of term, revolving and general banking facilities for the Synchem group of companies.*
- FirstRand Bank Ltd (acting through its Rand Merchant Bank division), Absa Bank Ltd and Investec Bank in relation to ZAR 2.685 billion of term, revolving and general banking facilities for the Inserve group of companies.*
- A global financial institution, a multinational financial institution and Bank of China Ltd in relation to the English law GBP 150 million of term funding to a subsidiary of Rand Merchant Investment Holdings Ltd to part fund the UK acquisition of an interest in Hastings Group Holdings plc.*
Real estate finance
- Standard Bank and Stanbic Bank Nigeria Ltd on a USD 48 million real estate financing to Everty Nigeria Ltd.*
- FirstRand Bank Ltd (acting through its Rand Merchant Bank division), Absa Bank Ltd and Nedbank Ltd in relation to the sustainability-linked loan funding to the V&A Waterfront.*
Fund finance
- Emerging Africa Infrastructure Fund in relation to its raise of various facilities from KfW, Allianz and Standard Bank of South Africa.*
- FirstRand Bank Ltd (acting through its Rand Merchant Bank division) in relation to a GP facility to Helios Partners.*
- FirstRand Bank Ltd (acting through its Rand Merchant Bank division) in relation to a GP facility to Convergence Partners.*
- FirstRand Bank Ltd (acting through its Rand Merchant Bank division) in relation to a capital call facility to Convergence Partners.*
- FirstRand Bank Ltd (acting through its Rand Merchant Bank division) in relation to a Holdco NAV facility to ADP Fund III.*
Restructuring
- The senior creditors in respect of the on-balance aspects of the restructuring of d.light*
Awards
- Ryan is highly regarded and widely recognised by Chambers, IFLR and Legal 500 as a leading finance lawyer in the markets in which he operates.
- Chambers Global ranked Ryan in Band 3 for his work in Banking and Finance in South Africa (2026) and prior to that, in Band 4 for the same category (2023-2025).
- IFLR1000’s Corporate and Financial Guide rated Ryan as Highly Regarded for his work in South Africa in 2025.
‘Ryan Nelson understands cross-border work very well and has a wealth of experience in African loan dynamics.’ – Chambers Global, 2026
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