Sadock is the Managing Partner and head of the Banking and Finance practice at IMMMA. Sadock has been consistently voted as leading lawyer by IFLR’s and Chambers and Partners Global.
Sadock expertise includes transactional banking, corporate finance, debt capital markets, restructuring and receiverships and banking regulatory and compliance. He regularly represents banking institutions, both domestic and international, in secured and unsecured lending transactions including syndicated lending, project finance, personal property security, derivatives and equity finance. Sadock is also an expert on drafting all phases of commercial loan documentation including loan facility agreements, mortgages, debentures, assignments, guarantees and indemnities and security sharing agreements.
He is a regular contributor to "Getting the Deal Through" a Project Finance Journal that covers 38 jurisdictions worldwide and is published by the International Bar Association.
He was admitted to the bar in 1994.
LLB (Hons) in Law from the University of Dar es Salaam
Post Graduate Diploma in Finance from the University of Strathclyde
Advised the Government of Tanzania in the Bagamoyo Port Project and assisting the Government of Tanzania (GOT) in structuring the project, negotiating with the Chinese port operating company, developing the project agreements and the financing. Instructions for the GOT are given by Tanzania Investment Corporation and the EPZA (both government agencies in charge of the project) worth US$10 billion.
Advised Ferrostaal Industrial Projects GMBH, Haldor Topsoe A/S and Fauji Fertilizer Company Limited on the establishment of a US$2 billion ammonia/urea fertilizer plant.
Advised a syndicate of lenders comprised of commercial banks and pension funds for the provision of syndicated loans totaling US$250 million equivalent to TZS 300 billion at the ruling rate in August 30, 2007. This was locally financed and Stanbic Bank Tanzania Limited acted as the arranger. The principal security on this syndicate loan was sovereign guarantee.
Advised BOA Group S.A and Bank of Africa (Tanzania) Limited on the restructuring of the Bank of Africa Group and the legal approvals required to implement the restructuring. Also assisted in applying for and securing the necessary approvals from the Bank of Tanzania as well seeking and securing the approval from the fair competition commission.
Advised a syndicate of lenders with Stanbic Bank Tanzania Ltd acting as the lead arranger on restructuring of Kagera Sugar Limited loan involving TZS 81 billion and secured by sovereign guarantee.
Lead counsel in the review of the Public Private Partnership laws and the procurement laws in Tanzania. The project required building a PPP Toolkit in the energy sector for the Government of Tanzania so that the tool can be used by various institutions including the Ministry of Energy and Minerals, Energy Water Utilities Regulatory Authority, and the Tanzania National Electric Supply Company. IMMMA Advocates produced a user guide manual for the competitive tendering process for Public Private Partnership projects, Power Purchase Agreements, Implementation Agreements Expression of Interest, Request for Proposal, Concession Agreement, RFP Rules,
Advised the Government of Tanzania on transactional, legislative and practical approaches to PPPs and development of an energy toolkit. Sadock led the team on drafting amendments to the PPP Act and drafting PPP regulations as well as producing a guide for the competitive tendering of PPP projects as well as draft process related documents (such as IM, EOI, RFP, RFP Rules, RFP Review Documents) to be used by the Government of Tanzania in the energy sector (EWURA, MEM, TANESCO).
Advised and reviewed the legal and regulatory framework review and the feasibility of Municipal bonds and thereafter recommending suitable policy options for the development of municipal bonds market in Tanzania.
Advised the Company for Habitat and Housing in Africa (Shelter Afrique) in a US$14.5 million secured lending to the National Housing Corporation in Tanzania which was secured against the borrower’s properties.
Advised the National Bank of Commerce Limited on recovery proceedings against an abattoir involving assets.
Successfully handled the US$3 million transfer of a mortgaged leasehold property on behalf of National Bank Commerce Limited as mortgagee by public auction.
Successfully sold various real estate properties of a defaulting borrower on behalf of National Bank of Commerce under statutory power of sale and recovered in excess of TZS 2 billion.
He is renowned in the field of debt recovery in Tanzania much thanks to his unparalleled expertise in all areas of security enforcement, including receivership. He also handles corporate debt recoveries on behalf of various banks in the country.
Advised the Chambers of Mining Tanzania in relation to the New Mining Act, 2010.
Advised the major mobile telecommunication companies in relation to the new Electronic and Postal Communications Act.
Lead attorney in advising Vodacom Tanzania Limited on the introduction of electronic money transfers through their famous M-Pesa mechanism.
Engaged as legal advisors by a short-listed EPC contractor in relation to the planning and construction of 320MW combined cycle Greenfield power station. In this respect we advised on all the relevant permits, authorizations and approvals relevant for the project.
Advised Gigawatt Global Cooperative UA on the proposed public private partnership with the national electric supply company, TANESCO, involving the finance, development, operation and maintenance of a 300MW solar photovoltaic electric generating facility in Tanzania.
Tanganyika Law Society
East African Law Society
International Bar Association
Sadock Magai is ranked by Chambers Global (2019) in Band 3 in Tanzania General Business Law. Chambers Global (2019) says “Sadock Magai attracts praise as a "seasoned lawyer" in this market who is "worth his salt." He heads the banking and finance practice at the firm, with a commentator acknowledging that "he does the run of banking deals and documents." He has additional expertise in infrastructure development and assisted the Government of Tanzania in structuring the Bagamoyo port and EPZ project worth USD10 billion.”
IFLR 1000 (2019) ranks Sadock D. Magai as a highly regarded leading lawyer.
Legal 500 (2018) says “Sadock D. Magai is an established figure in energy and infrastructure projects.”