Benjamin Mbana
Director
Expertise
Experience
Representative matters
Rand Merchant Bank and Absa Bank Limited as joint mandated lead arrangers in respect of the financing of the 97.5MWac Solar PV Project and 140MW Wind Project developed by Mainstream Renewable Power Developments Proprietary Limited for the generation and sale of energy to each of Sasol South Africa Limited and Air Liquide Large Industries South Africa Proprietary Limited
Deutche Bank AG on the tax treatment of cash flows from South Africa to DB under the loan as a result of the USD750 million loan facility provided by Deutche Bank to Eskom Holdings SOC Ltd
Magotteaux International S.A. on its acquisition of equity shares and a shareholder loan held by the Industrial Development Corporation of South Africa Limited (IDC) in Grinding Media South Africa Proprietary Limited, as part of Magotteaux’s increased investment in Grinding Media. The combined deal value amound to approximately ZAR800 million.
Solarpack Technologies S.A in relation to the Energy Procurement Contract (EPC) structure in South Africa and the most tax efficient means of funding the domestic operations.
Zarclear Securities Lending Proprietary Limited on the South African income tax and dividends tax implications of distributions received from real estate investment trusts.
Rand Merchant Bank (a division of FirstRand Bank Limited) on the preference share financing in respect of the 89MW Castle Wind Farm, the first private power deal to reach financial close for Sibanye-Stillwater, delivering power to its mining operations. The project consortium consists of African Infrastructure Investment Managers (AIIM), through its renewable energy
Rand Merchant Bank on the preference share financing of the 69MW Msenge Emonyeni Wind Farm. The Msenge consortium entered into a power purchase agreement with Sasol South Africa Limited to secure renewable energy supply for green hydrogen production. This is the first captive solar projects to have reached financial close
Thebe Investment Corporation on the R2.8 billion debt / preference share renewable energies refinancing transaction
Royal Reesink, one of the world’s largest distributors of high-quality machinery, on the acquisition of all the issued shares of South African-based import and distribution company, Smith Mining Equipment Proprietary Limited
African development and private equity fund manager Phatisa on the exchange control implications of its acquisition of South African-based biotechnology company Deltamune
Published Work
Lewis, A and Mbana, B (2019) “South Africa draws more foreign suppliers of electronic services into its VAT net”, DLA Piper website
Lewis, A and Mbana, B (2019) “A timely gift for taxpayers”, DLA Pier website
Lewis, A and Mbana, B (2019) “South African Tax Court confirms application of the most favoured nation clause in the South Africa/Netherlands treaty, Business Day newspaper
Lewis, A and Mbana, B (2021) “Constitutional Court ruling puts section 24C allowance under the spotlight”, DLA Piper website
Mbana, B (2021) “Managing debts in a (barely) post-Covid economy', Tax Talk Magazine”, Allen & Overy website
Mbana, B (2022) The zero percent dividends withholding tax benefit on distribution between South Africa and the Netherlands will soon be done away with', Allen & Overy website
Mbana, B (2022) “SARS Provides Guidance on the interpretation of "Date of Issue" and "Qualifying Purpose" for Hybrid Equity Instruments and Third-Party Backed Shares”, Allen & Overy website
Mbana, B (2023) ‘Tax incentives are crucial to South Africa’s energy transition’, Allen & Overy website
Mbana, B (2023) ‘Lifting the veil of secrecy - South Africa introduces new disclosure requirements and the OECD and SARS together develop international tools to tackle illicit financial flows’, Allen & Overy website
Speaking Engagements
South African Institute of Tax (SAIT) budget breakfast, 2022
South African Institute of Tax (SAIT) Tax Indaba, 2021
South African Institute of Tax (SAIT) Tax Indaba, 2017
South African Institute of Tax (SAIT) Student Tax Conference, 2016
South African Institute of Tax (SAIT) Student Tax Conference, 2015
Leadership Positions And Professional Affiliations
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Academic
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