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Negotiation and Deal Structuring

Prepare, structure and negotiate investment, M&A and financing deals that share value, risk and control under Ethiopian company, tax and FX rules

Negotiate a 40% stake in an Ethiopian logistics company and a multi-party growth investment and refinancing for a private hospital group, using earn-outs, preferences, ratchets, governance and exit rights that work under Ethiopian law.

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What you will be able to do

Prepare a deal negotiation from interests, BATNA, ZOPA and a walk-away, and adapt it to Ethiopian family owners and state counterparts
Design structures that bridge valuation gaps and allocate risk: consideration forms, earn-outs, preference and convertible instruments, ratchets, staging, FX-linked pricing, escrow and vendor finance
Recognize how Ethiopian company, foreign ownership, FX and tax rules limit structuring choices
Negotiate governance, control and exit rights in shareholder agreements, and choose an enforceable dispute resolution route
Lead complex multi-party negotiations with co-investors, lenders, DFIs and regulators, and draft and critique a term sheet

The case you will follow

Galan Freight and Logistics PLC and Hiwot Specialty Hospitals S.C.

Galan Freight and Logistics PLC is a fictional family-owned trucking, freight forwarding and bonded warehouse company on the Addis Ababa to Djibouti corridor, with revenue of Birr 1,650 million, EBITDA of Birr 300 million and net debt of Birr 350 million. Its founder, Mulugeta Haile, holds 70%, and his brother Dawit and sister Almaz 15% each. Horizon Corridor Logistics BV, a fictional foreign logistics investor, negotiates to buy 40% through Birr 600 million of new shares and Birr 480 million of the siblings' shares, at a pre-money value of Birr 2,100 million with an earn-out. Modules 1 to 4 follow this two-party deal from preparation to structure, legal and FX constraints, governance and exit. Module 5 turns to Hiwot Specialty Hospitals S.C., a fictional three-hospital group with EBITDA of Birr 480 million, where a PE fund, a DFI, the founding family and Bank A negotiate Birr 2,100 million of growth equity and a Birr 1,200 million refinancing, ending in the capstone term sheet.

For: Investment banking, private equity and corporate development staff, deal leads, senior bankers and legal counsel. Recommended prerequisite: 3.c Mergers and Acquisitions, Level 1.
Study time: About 5 hours online, in 5 modules (40 hours in the classroom version)
Each module: Short lessons, animated visuals, Ethiopian examples, decisions to make, the laws and directives that apply and worked calculations, then a quiz
Assessment: A 20-question final exam; pass mark 70%
Certificate: Erudite Africa Center of Excellence certificate of completion
Access: Module 1 free for registered users; the full course, exam and certificate for subscribers

The 5 modules

Built on

Erudite Africa course specification: 3.h Negotiation and Deal Structuring, Levels 1 and 2 (October 2026), extended to Advanced depth
Erudite Africa: Training Module, Ethiopian Context, programme overview and regulatory register (October 2026)
Investment Proclamation No. 1180/2020, Investment Regulation No. 474/2020 and Investment Board Directive No. 1082/2025
NBE directives as listed in the lessons: FXD/01/2024, FXD/04/2026, SBB/87/2024, SBB/92/2024
Income Tax Proclamation No. 979/2016 as amended by No. 1395/2025, and Transfer Pricing Directive No. 981/2024
Commercial Code Proclamation No. 1243/2021, Arbitration and Conciliation Working Procedure Proclamation No. 1237/2021, Capital Market Proclamation No. 1248/2021 and the ESX Rulebook (December 2024), as cited in the specification

Examples and companies are fictional. Bank practices are shown as typical Ethiopian practice, not as any one bank's policy. Always apply your own institution's approved policy and the current NBE directives.