Priscilla Busulwa

Priscilla Busulwa

Senior Legal Associate

Practice Areas

  • Corporate Finance,
  • Banking


  • Bachelors of Laws (LLB) , Queen Mary University of London
  • Bar Professional Training Course (BPTC)
  • Master of Laws (LLM) in Professional Legal Practice (with Distinction) from BPP University
  • Postgraduate Diploma in Legal Practice from the Uganda Law Development



  • Barrister at Law – Certificate of Standing (Call to the Bar) England & Wales
    Member – The Honourable Society of Lincoln’s Inn

I am a Senior Legal Associate at TASLAF Advocates, qualified in Uganda and England and Wales. I specialize in corporate finance, banking, impact investing transactions, and special projects. I possess over 5 years of cumulative legal work experience advising major banks, big multinational co-operations, non-governmental organisations, and private companies on complex commercial transactions, legal disputes, corporate governance, and general regulatory compliance. Prior to working at TASLAF I worked at two Tier 1 law firms in Uganda in their corporate & commercial, employment, and litigation departments. I have advised a number of financing transactions carrying out various activities including debt, equity, and mezzanine financing, fund set up and operations, drafting and registration of security documents, advising on deal structuring, necessary formalities and regulatory approvals.

Transactional work experience

Detailed Legal and Transactional Experience Listed Below in Chronological Order:​

a) Banking and Corporate Finance
– Advised a UK based Investment Fund as Lender and a multinational oil supply company as Borrower with respect to a proposed US$ 20,000,000 financing intended to result in the merger/ amalgamation between two of the Borrower’s holding companies leading to a minority buyout and structural changes in Ugandan subsidiary. (2023)
–  Acted for a Ugandan community development organization as borrower in respect of a US$ 3,000,000 loan facility from an American donor fund. (2023)
– Acted for HEKS/EPER as lender in respect of US$ 450,000 loan facility made available to
Patasente Limited. (2023)
– Acted for HEKS/EPER as lender in respect of US$ 400,000 loan facility made available to
Aptech Africa Limited. (2023)

– Acted for Great Lakes Coffee Limited as borrower and K2 International Metals Pte Ltd as
Lender with respect to a US$ 750,000 loan facility made available to Great Lakes Coffee
– Acted for Latitude Trading Company Limited as Borrower with respect to a US$ 300,000
working capital loan facility granted from FairCapital SA (2022)
-Acted for HEKS/EPER as lender/ funder in respect of a US$400,000 loan facility granted
to Landmark Millers Limited. (2022)
– Acted for Stitching Impact-Linked Finance Fund as lender in respect of a US$ 140,000 loan
facility made available to Nucafe Grading Limited. (2022)
– Acted for MaxTrace (U) Limited with respect to a US$ 100,000 convertible loan facility
made available by a high net worth individual. (2021)
– Acted for a group of related companies in the food and beverage sector in respect of intra-group loan agreements, director’s loans, and =shareholders loans (in aggregate approx.
US$530,000). (2021)
– Assisted in advising a major commercial bank on matters arising from the Auditor General’s
Report on the Bank of Uganda’s sale of a major commercial bank and parliamentary
inquiries & proceedings to follow (2018-2019)
– Advised Barclays Bank plc (Uganda) on the implications of a share restructuring from its
parent company in South Africa (2016)
b) Mergers & Acquisitions, Private Equity, and Corporate Restructuring
– Advising a UK based Insurance broking holding group on the proposed sale by Heartland
Cayman Limited, the South African Heartland Trust, and the South African Heartland
Partnership, of all shares and loan claims (if any) in a multinational insurance group with
respect to the Ugandan subsidiary. (2023)
– Acting for Latitude Trading Company as borrower with respect to blended financing
transactions with Ground Up Investing LLC which include a US$ 400,000 convertible note
converting debt to equity shareholding, a US$ 200,000 revolving loan agreement, and
completing the execution of a shareholder agreement. (2023)
– Acting for Inua Impact Fund Limited as investee company with respect to the sale and
subscription of shares in Inua Fund Limited, rendering company secretarial services and
incidental matters (April 2023)
– Advised BluePeak Private Capital GP as lender and Prime Supplies Holdings Limited with
respect to a US$ 20,000,000 financing intended to result in a merger/ amalgamation
between Prime Supplies Holdings Limited and Prime Logistics Holdings Limited leading to
a minority buyout and structural changes in Ugandan subsidiary – Primefuels Uganda
Limited. (2023)
– Acting for Spouts of Water as investee company with respect to the proposed US$ 4.5
million acquisition of shares by C-Quest Capital LLC in Spouts of Water International
– Advised different clients on proposed restructuring, equity fundraising, and other corporate
advisory matters including MTN, dfcu Limited, Barclays Bank plc, Spouts of Water, Legacy
Group Uganda (2016 – 2021)
– Compiling due diligence reports on multiple transactions for clients such as GIC Insurance,
Akzonobel, MTN and others (2016-2021)
– Advised on the re-structuring of aBi Trust’s business operations into aBi Development
Limited and all matters incidental thereto (2018-2019)

– Advised on the corporate restructuring for Legacy Group, a family-owned conglomerate,
HR policies, and the formalisation of the family business (2018)
– Conducted research and drafting due diligence reports for Fenix International with respect
to the acquisition of an equity stake in Tugende Limited (2016)
– Effecting the re-structuring of KadAfrica Limited from an NGO to a company limited by
guarantee to secure donor funding. (2016)
c) Fund set-up and market entry
– Advising Mercy Corps International through conducting a legal assessment and regulatory
feasibility study for a humanitarian energy-focused financing facility in Uganda. (2023)
– Advising BidCapital Partners on the setup and structuring of the Impact Mezzanine Fund
(with $500,000 seed capital) to provide bridge financing for SMEs in the agricultural sector
in Uganda.
– Advising iGravity on the setup and structuring of a US$2,000,000 Refugee Investment
Facility to provide financing to refugee-oriented enterprises in Uganda. (2023)
– Advising Small Foundation on the set up of an early venture debt facility for tech-enabled
intermediaries in Uganda. (2023)
– Advising SIDI, a French social enterprise, on the setup of its investment fund and
commencement of financing activities in Uganda. (2023)
d) Compliance & Corporate Governance
– Providing company secretarial support for Inua Capital and Inua SME Fund which has
included the compilation of board meeting minutes, drafting and registration of resolution,
filing company forms and standard documents with URSB (2023)
– Preparation, review, and filing of corporate documentation including resolutions,
memorandums and articles of association, annual returns, and shareholder’s agreements
(2016 – 2023)
 Preparation of Board meetings and Annual General Meetings (AGMs) for CIC Insurance,
Orient Bank, PAX Insurance, and others (2018 – 2021)
– Compiling minutes for Board meetings, Extra Ordinary General Meetings, and Annual
General Meetings (2016 – 2021)
– Preparation and review of documentation including resolutions, annual returns, statutory
forms, minutes, and correspondence with shareholders. (2018 – 2023)
– Advice rendered on a number of sensitive corporate governance matters (2018 – 2023)
e) Commercial advisory work in Tech, Media, and Telecommunications (TMT)
– Advising Opareta Ltd on its data privacy and information protection policies and in
connection with formalizing its business operations, its group restructuring, equity
fundraising, and various compliance matters related to business expansion. (2022)
– Assisted in advising MTN Uganda on its USD150 million initial public offer on the Uganda
Securities Exchange – the first telecommunications sector public offer in Uganda, the largest
public offer in the history of the Ugandan capital markets and the first public offer to utilize
digital channels (including mobile money) and the largest public offer in Africa in 2021.
– Advised MTN Group in relation to the managed separation of the mobile money/ financial
technology business of its subsidiary MTN Uganda (2021)

– Advising companies and organizations on their data privacy and information protection
policies in connection with formalizing business operations, group restructuring, equity
fundraising, and various compliance matters related to business expansion (2018 – 2022)
– Assisted in advising Uber Technologies on the setting up of operations in Uganda (2016)
– Assisted in advising Facebook Inc on the regulatory framework in Uganda’s
telecommunications sector (2016).
f) Dispute Resolution
– Engaged in proceedings for several cases including the drafting of pleadings and attendance
of court on watching brief. (2016-2021)
– Advising 3 oil companies on the impact of complaints filed to the African Court of Human
and Peoples’ Rights on an ongoing suit in the High Court of Uganda. (2019)
– Advising Unique Holdings Limited on the settlement of a shareholding dispute, conducting a
review of company files and conferencing with the client (2016)
– Provided research support and co-drafted No Case to Answer half time submissions in Ezee
Money v MTN, Uganda’s first competition law case in the telecom sector (2015)
– Drafting opinion concerning a dispute between Rem Distributors Limited and a brewery
distribution company (2015)

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