The beauty of sharing
Seth Asante is evangelical about the power of sharing knowledge and insights across the Lex Mundi network. “The personal relationships are invaluable,” says the Managing Partner of Ghana's largest law firm, Bentsi-Enchill, Letsa & Ankomah.
When he was growing up, Seth Asante wanted to become a pastor. But that all changed when he developed a fascination for a charismatic neighbour. The man, who wore immaculately pressed clothing and had a wood-panelled library in his home, was a lawyer. Seth decided to follow in his footsteps.
Yet the warm, thoughtful demeanour of the man who is now Managing Partner of Ghana’s largest legal practice, suggests he has retained a pastoral dimension to his work. Indeed, it’s a quality reflected in the culture of Bentsi-Enchill, Letsa & Ankomah, which places a strong emphasis on ‘client centricity’.
"Our firm is first and foremost focused on meeting our clients' needs and solving their problems," says Seth. "In emerging markets like Ghana, being able to anticipate and navigate regulatory changes is crucial. We've built a reputation for being ahead of industry trends and helping our clients to stay ahead too."
Seth cites an example from 2017 when the Bank of Ghana increased the minimum capital requirements for banks. Seth and his colleagues anticipated the challenges this would pose, particularly for locally-owned banks, and worked closely with clients to raise the necessary capital. Indeed, the firm made such a positive contribution that the Ghanaian Government enlisted it to assist in the structuring and funding of an SPV to assist local banks to meet the minimum capital requirements.
Our firm is first and foremost focused on meeting our clients' needs and solving their problems...In emerging markets like Ghana, being able to anticipate and navigate regulatory changes is crucial. We've built a reputation for being ahead of industry trends and helping our clients to stay ahead too.
Seth Asante Managing Partner
The early days
Bentsi-Enchill, Letsa & Ankomah (known as Bentsi-Enchill) was originally established in 1990 by Kojo Bentsi-Enchill, a pioneer of Ghanaian legal practice, who had been working in New York with Shearman & Sterling. He set up the business with his old university classmate Divine Letsa. The two founding partners have since retired, with Kojo sadly passing away in 2021. Seth became Managing Partner in the same year.
Based in the capital of Accra, Bentsi-Enchill is Ghana's largest law firm, with around 40 lawyers. Growth has been organic, rather than through acquisition, seeing it expand into four departments – corporate commercial, financial institutions & capital markets, energy & infrastructure, and disputes.
Seth joined the firm in 1999. After completing his initial traineeship, he left the firm in 2001 to undertake an MSC in Law and Accounting from the London School of Economics. He rejoined the firm in 2002. Nine of the other 10 current partners started as trainees within the firm too. “We have all been brought up in the same culture,” says Seth. “There’s been significant growth but the ethos of the firm – responding to client needs and maintaining professional excellence – has remained unchanged.”
Economic ebbs & flows
This consistency is also helpful in an ever-changing environment, with developing economies bringing their own challenges. Businesses are vulnerable to sudden swings in the economy and rapid regulatory changes require an ability to adapt to the “ebb and flow” of business fortunes. "When the investment climate is depressed, we feel it in our bottom line because 70% of our clients are foreign investors," Seth explains.
Additionally, retaining top talent in a competitive market is an ongoing challenge – as it seems to be everywhere. “Clients often target our best talent, so we strive to keep our lawyers engaged and demonstrate that there's a future for them here. There's a real meritocracy at Bentsi-Enchill. If you contribute to the firm, there's a clear path for growth and development.”
However, even when they leave Bentsi-Enchill, lawyers often remain closely connected as part of the firm’s alumni network. "Outside the Attorney General's Department, we've trained more lawyers than any firm in Ghana," says Seth. "Our alumni often refer work to us, and we maintain a strong bond through regular events and interactions."
We make use of the Lex Mundi Institute, sending many of our lawyers for training – I did it myself – and the connections that are made there last a lifetime.
Seth Asante Managing Partner
A beautiful relationship
Bentsi-Enchill joined Lex Mundi in 2002. “It’s been a beautiful relationship”, says Seth. “There are two big things we take from it. Firstly, the personal relationships we've built across the network are invaluable. We make use of the Lex Mundi Institute, sending many of our lawyers for training – I did it myself – and the connections that are made there last a lifetime. There's something about meeting somebody in person that creates a much stronger bond and, for us, it has led to numerous opportunities to collaborate seamlessly on cross-jurisdiction projects.
“Secondly, there is the opportunity to gain the knowledge that keeps us at the forefront of our profession,” he adds. “Just a couple of days ago, we were talking internally about our professional support staff pay structure and it turned out that it was based on recommendations from Demarest, our Lex Mundi partner in Brazil. I didn’t know that, and was very impressed by it. It’s the same with technology, which is a significant investment, but crucial for staying competitive. Through Lex Mundi, we can talk to other firms and say ‘this is what you've used, how did it work?’.
“There are other examples. My colleague Abigail Nikoi, Head of Business Development, recently came back from the marketing round table buzzing with useful ideas that we can implement. Also, I was at the Managing Partners Conference last year, and attended another conference in London this year. The content was so useful. You have people with shared interests, ideas and values who are happy to share their insights. That is the beauty of sharing.”