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Agenda Overview

Africa Energy and Infrastructure Investment Forum Agenda: Wednesday, March 7, 2018

8:00AM Registration and Refreshments
9:00AM Macro-economic and geopolitical outlook

Drivers and inhibitors for Africa’s sustainable growth and the implications for investors and developers 

Identifying critical success factors for achieving sustainable economic growth in Africa:

Governance and transparency

Closing the infrastructure gap

Sectoral growth: energy, infrastructure, telecoms, technology, agriculture  Identifying the key African growth markets attracting foreign investment: Which landmark energy and infrastructure projects are leading the way?

Exploring game-changing energy trends which are disrupting traditional business and investment models in Africa, such as the shift towards DER

 Political risk: understanding Africa’s risk profile as a region, and emerging risk mitigation tools  Examining key recent and upcoming political developments and the implications for economic stability and investor appetite

Matthew Wittenstein, Senior Electricity Analyst, International Energy Agency
Alex Vines OBE, Head of Africa Programme, Chatham House
9:30AM Government keynote – strategic leadership

African government leaders and representatives will share strategic insights such as:

National energy strategies, including renewable energy targets

Forecasts for energy demand and future capacity

Infrastructure spend and growth projections

PPPs for energy and infrastructure

Incentives and opportunities for foreign investors

Yofi Grant, Chief Executive Officer, Ghana Investment Promotion Centre
9:50AM Questions and answers to all three presenters
10:00AM Coffee and networking break
10:40AM Risk mitigation tools for renewable investments in Africa
Henning Wuester, Director - Knowledge, Policy And Finance Centre, International Renewable Energy Agency (IRENA)
10:55AM Questions and answers
11:00AM Investor and developer insights

Exploring the risks and returns of African energy and infrastructure and unlocking institutional investor liquidity

Mapping the investor landscape for African energy and infrastructure

Learning from experiences of developers who are also investors:
- What are the key strategies for developing a realistic, successful and bankable project in Africa?

Fund manager insights:  separating perceived risks from reality, and managing exit risk

The growth of the African institutional investor market and its role in energy and infrastructure: how could this drive the development of local capital markets?

Case study: Moller-Maersk’s new African energy and infrastructure fund, funded with capital from Danish pension funds.   What lessons can be learned so far from this deal?  Could this pave the way for more international and local pension fund activity?

 

Moderator: Greg Fyfe, Head: Energy and Infrastructure, Investment Banking - Corporate & Investment Banking, Standard Bank

Charles Davis, CEO, Edgebold DMCC

Vivek Dharni, Principal – Private Equity & Principal Finance, Mota-Engil

Steven Mandel, Director, Power, Denham Capital

Romain Py, Investment Director: Head of Transactions, AIIM – African Infrastructure Investment Managers

Jens Thomassen, Partner, A.P. Moller Capital

 

Greg Fyfe, Head: Energy and Infrastructure, Investment Banking - Corporate & Investment Banking, Standard Bank
Romain Py, Investment Director: Head of Transactions, AIIM
11:40AM Questions and answers
11:50AM Lender Perspectives

Critical success factors for structuring and closing deals in African markets
Commercial lending

Are international commercial lenders ready to provide project finance in Africa?   When could reliance on DFIs decrease?

Lessons learnt from commercial lenders with successful track records in Africa

The role of local financiers: which African lenders are leading the way?

Multilateral lending

 

What role are multilaterals playing in energy and infrastructure projects?

How crucial is DFI collaboration with government to the successful closing of a deal?

Example: Case study on the Scaling Solar initiative in Zambia

Examining the shift away from feed-in tariffs to competitive tender processes

What can export credit agencies (ECAs) bring to the table?

Moderator: Dr. Christopher Marks, Managing Director, Head of Emerging Markets, EMEA, MUFG

David Donaldson, Head - Africa, IFC InfraVentures (International Finance Corporation)

Subha Nagarajan,PhD, Managing Director, Africa, OPIC (Overseas Private Investment Corporation)

Chimuka Nketani, Investment Manager, IDC (Industrial Development Corporation owned by the Zambian Government)

Binny Prabhakar, Infrastructure Specialist, AfDB (African Development Bank)

12:30PM Questions and answers
12:40PM Networking Lunch
2:00PM PPPs

 

PPPs: the key to leveraging private investment in energy and infrastructure? Success stories, challenges and emerging PPP markets

Case study: REIPPP (Renewable Energy Independent Power Procurement Programme)  To what extent is REIPPP a success story for private sector financing?
- How has it helped South Africa to reach its renewables targets?
- What challenges has REIPPP faced, and what could this mean for other PPPs?

Examining new PPP initiatives inother African markets, such as Namibia, Botswana and Zambia: could these pave the way for the rest of Africa?

What lessons can Africa learn from PPPs in developed markets?

Marco Angelino, CFO, Enel Green Power RSA (PTY) Ltd
Louis Moyse, Head of Contract Management - IPP Office, Department of Energy, South Africa

2:20PM Questions and answers
2:30PM Combining PPPs and natural resources

A panel discussion eliciting views on the emerging trend of combining PPPs with natural resources projects in Africa, drawing upon the case study of the recent Nacala Corridor Project in Mozambique.

Moderator: Caroline Miller Smith, Partner, White & Case LLP

Adalgisa de Queiroz Vieira, Corporate Finance, Vale

Vasco Vitorio, Director, Infrastructure & Real Estate Group, HSBC

3:00PM Questions and answers
3:10PM Coffee and networking break
3:30PM Offtaker risk

Avoiding offtaker risk – alternative solutions and innovations for tapping into Africa’s energy potential

How big is the risk of non-creditworthy offtakers within the different African markets?

What instruments are available for mitigating these risks, and how effective are they?

Case study: AfricaGreenCo’s new initiative in Zambia

Examining the emergence of alternative offtakers, such as mining companies

To what extent could off-grid energy fill the gaps left by weak local utilities? Opportunities and challenges in off-grid wind and solar projects

 

Moderator: Mukund Dhar, Partner, White & Case

Ana Hajduka, Founder & Chief Executive Officer, Africa GreenCo

Laura Sundblad, Program Manager – Access to Finance, GOGLA (Global Off-Grid Lighting Association)

Nicholas Wrigley, CEO, Winch Energy

4:10PM Achieving bankability

Ensuring protection against project and political risk

Identifying key causes for projects not to reach bankability

Establishing reliable lines of credit and guarantees

Crucial considerations for structuring robust PPAs and construction contracts

To what extent does political risk impact project risk? What mechanisms are available to help mitigate political risk?

How do government policies and regulatory frameworks need to change to strengthen PPAs and move projects faster through the pipeline?

Moderator: Matthew Huxham, Consultant, Climate Policy Initiative Energy Finance

Richard Simon-Lewis, Head of Origination, Client Coverage, Marketing & Communications, UK Export Finance
Marcus Williams,
Global Head – Energy and Extractive Industries, MIGA (Multilateral Investment Guarantee Agency), The World Bank Group

4:40PM Questions and answers
4:50PM Local currency financing

Managing FX risk and unlocking the potential of local markets and offshore funding

Examining the case for local currency: what are the benefits for investors, developers and lenders?

Determining the debt financing capacity of local banks, and the level of engagement of DFIs in supporting local currency-backed projects

Nigeria Case study: building long term local currency financing through infrastructure corporate bonds:
- Understanding the guarantee structure, backed by local pension funds
- How have the bonds succeeded in building more long-term debt capital in Nigeria?
- What lessons can be learnt for projects in other African local currencies?

Chinua Azubike, CEO,InfraCredit
Douglas Bennet, Consultant, GuarantCo

5:20PM Questions and answers and Chair’s closing remarks
5:30PM Drinks reception