Key topics to be discussed at Bonds, Loans & Sukuk Africa 2017
Day One: Wednesday 5th April
08.00 Registration and coffee
08.50 Chairperson’s opening remarks
Megan McDonald, Head of Investment Banking, International, Standard Bank
09.00 How is the South African National Treasury planning to stimulate economic growth in 2017 and beyond?
- Inflation and FX: How are the government managing the current economic challenges?
- Is the government planning to introduce reforms in 2017 to encourage economic growth? If so, how and when?
- What will the implication on the Fiscus and what will be the effect on funding?
Lungisa Fuzile, Director General, National Treasury, Republic of South Africa
09.30 Trump, Brexit and geopolitical volatilities: Setting the scene for Africa in 2017 and beyond
- How have global volatilities impacted EMs as a sholw and the way in which business is conducted today?
- What impact will the Trump presidency have on African business, trade and financial markets, and EMs as a whole?
- What will the short and long-term challenges facing the African banking and financing sector for the next 12-18 months?
Max Moyo, Author, International Speaker and Chief Executive Officer of Ignite My Potential Pty Ltd
10.00 Global trends and macro shocks: Assessing the impact on African economic growth
- Africa’s economic fundamentals and GDP outlook: Positive, negative or stable?
- Trump and Brexit: How much are political factors driving growth prospects?
- An overview of interest rates movements across the continent: Should we expect rate rises in 2017?
- Commodity price volatility: Who are the winners and losers of oil price rises and falls?
Hannah Subayi Kamuanga, Senior Associate, South Suez Capital
Neville Mandimika, Africa Strategist, RMB Global Markets Research, Rand Merchant Bank
Eyal Sheval, Head of Corporate Ratings, Global Credit Ratings
Moderated by: Anthony Barklam, Head of Debt Capital Markets, MUFG
10.40 Bonds vs. loans, international vs. local: How are multinational companies planning to finance their growth and capex plans in 2017?
- How are CFOs managing their balance sheets? Are they planning to raise new capital for new projects or is the focus on refinancing and replacing their existing debt?
- Diversifying away from Africa: Why and how are African companies expanding more offshore rather than onshore?
- What are the expectations of both international and local banks when assessing whether to finance these expansion plans and what products should be used?
Tewolde Gebremariam, Chief Executive Officer, Ethiopian Airlines
Deepen Jhina, Senior Manager, Project and Structured Finance, MTN
Tom Lambourn, Director, EMEA Loan Structuring and Syndications, Citi
Femi Oladehin, Partner, Argentil Capital Partners
Hitesh Asarpota, Managing Director and Head of Debt Capital Markets, Emirates NBD Capital
Moderated by: Christopher Marks, Managing Director, Head of Emerging Markets, EMEA, MUFG
11.25 Coffee and networking
11.45 How are ratings actions impacting the activity in the capital markets?
- What are the drivers of ratings actions for African sovereigns, FIs and corporates?
- An overview of recent ratings actions across the continent and their knock-on impact to capital markets activity
- Investor perspective: How much of an impact do ratings have on investors when assessing which countries and which companies to invest into?
Konrad Reuss, Managing Director, S&P Global Ratings
Dapo Olagunji, Group Treasurer, Access Bank
Phetolo Ramosebudi, Treasurer, Transnet
Mampho Modise, Chief Director, Strategy and Risk Management, National Treasury, Republic of South Africa
Moderated by: Rajiv Shah, Head of Debt Capital Markets, Middle East, Turkey and Africa, BNP Paribas
12.30 How to successfully access the international capital markets
In an environment of reduced liquidity, low commodity prices and looming interest rate rises, the challenges and hurdles that issuers must overcome to successfully price and place deals are greater.
This session will analyse the recent successful issuances, highlighting the reasons for raising capital, the thought-process of why a Eurobond was selected, and deal highlights of how the deal was successfully closed.
Tom Greenwood, Chief Financial Officer, Helios Towers Africa
Karim Movaghar, Managing Director, Head of Debt Capital Markets CEEMEA Financing & Origination, Bank of America Merrill Lynch
Tommaso Ponsele, Director, CEEMEA Debt Markets, Citi
Bhulesh Singh, Head of Funding and Liquidity Management, FirstRand Group Treasury
Thuto Shomang, Group Executive, Treasury, MTN
Ahmed Al Qassim, Chief Executive Officer, Emirates NBD Capital
Moderated by: Alexi Contogiannis, Executive, Debt Capital Markets, Investment Banking, Standard Bank
13.20 Pricing and syndicating African loans: Where are the hotspots for lending in 2017?
- How were the 2016 loan volumes for FIs, corporates and sovereigns in Africa impacted by country specific vs geo-political events? How did loan volumes compare to previous years?
- West vs. East vs. South: Who is lending and where are they finding the best-priced opportunities?
- Who are the long-term lenders? Who are the newcomers to the market? What is keeping the rest away?
- Broadening the borrower base - What can be done to make transactions more palatable to international lenders?
Constantin von Moltke, Head, Syndications Loans, African Export-Import Bank (Afreximbank)
Michael Fischer, Regional Director, Southern Africa, DEG Invest
Faye Drew, Head: Distribution and Syndication, South Africa and Southern and Central Africa Region, Standard Bank
Andiswa Bata, Principle, Syndicate, Barclays Africa
Alper Kilic, Head of Loans Syndications, Africa, Standard Chartered Bank
Moderated by: Stewart Wakeman, Managing Director, Head of Sub Sahara Africa Structured Finance Division, EMEA, Mizuho
14.05 Networking lunch
15.05 Off-Takers Roadshow: What projects are coming online and how will they be financed?
The Off-Takers Roadshow is your opportunity to hear from government representatives across the continent about upcoming power, water and infrastructure projects, how they will be tendered, the bidding process, and how much financing is required.
Cornwell Chadya, General Manager, Finance, NamWater
15.20 How DFIs can continue to support funding of projects in times of increased volatility?
- DFIs and government guarantees: Case studies of how government guarantees have been used to close projects
- Partial risk guarantees: How do they work? Which projects are eligible? What products are eligible? Which risks are covered?
- Can DFIs work with local pension funds to attract long-term investment to fund projects?
- What products can insurance companies offer to corporates and banks to encourage borrowing in times of volatility?
- In what ways can the private market compete and collaborate with ECAs to increase accessibility to funds for corporates?
Mbako Mbo, Chief Finance Officer, Botswana Development Corporation
Lefentse Radikeledi, Director: Development Finance Institutions, National Treasury, Republic of South Africa
John Lentaigne, Chief Underwriting Officer, African Trade Insurance Agency
Lerato Mangope, Head of Funding, Industrial Development Corporation
Ryno Byleveldt, Business Analyst, European Investment Bank
Moderated by: Jonathan First, Head of Loan Syndications, Development Bank of Southern Africa
16.10 Funding infrastructure in the capital markets: What does an African project bond look like?
- Unbundling project bonds: How are they structured, packaged and sold to investors?
- Can project bonds be structured for capital to be raised to finance through construction phases of projects?
- Who buys project bonds? What are their criteria for investing? What are their expectations on price?
- Project loans vs. bonds: What are the pros and cons in the view of borrowers and developers?
Shaad Ebrahim, Transactor, Debt Capital Markets, Standard Bank
Professor Jeremy Gorelick, Senior Infrastructure Finance Advisor, WASH-FIN
Gulnara Yunusova, Senior Financial Officer, Treasury Client Solutions, International Finance Corporation (IFC)
Hendrik Ackermann, Head: Structured Products, Specialised Distribution, Nedbank
Mark Wells, Executive Director, Head of Structured Capital Markets, MUFG
Moderated by: Debashis Dey, Partner, White & Case
17.00 Africa’s Renewable Energy Future: What progress can be expected in the next 12 months?
- Driving solar, hydro and wind power: What projects are coming online, and which countries show the greatest potential?
- Assessing governments’ support for renewable projects: Are new regulations being implemented in order to encourage this sector to take-off? How will they support these projects financially?
- How much involvement is there from the private sector to fund renewable projects? What can be done to encourage more involvement from the private sector?
- Applying the IPP framework from the conventional power to renewable: advantages vs. disadvantages
Silas Zimu, Energy Advisor to the President, Republic of South Africa
DeVilliers Botha, Operations Director, Solareff
Mutale Mukuka, Chief Financial Officer, Copperbelt Energy Corporation Plc
Gqi Raoleka, Executive Director, Pele Energy Group
Moderated by: Theuns Ehlers, Head – Resource and Project Finance, Managing Director, Corporate and Investment Banking Africa, Barclays
17.50 Chairperson’s closing remarks followed by evening reception sponsored by Standard Chartered Bank
Day Two: Thursday 6th April
08.55 Chairperson’s opening remarks
Anthony Barklam, Head of Debt Capital Markets, MUFG
09.00 Where do investors see value in Sub-Sahara African credit?
- How have politics impacted investors approach to investing in Sub-Sahara Africa?
- Winners and losers: Where do investors see value in Sub Saharan Africa credit?
- Local vs. hard currency: Are there opportunities for arbitrage?
- Bright spots and warning signals: Which economies are likely to prosper in 2017 and which are likely to suffer?
Simon Howie, Co-Head of SA and Africa Fixed Income, Investec Asset Management
09.20 Developing Nigeria’s local debt capital markets
- Size and capacity of the local markets: Who is issuing and who is investing?
- Investor tips to issuers: What can Nigerian companies do to make themselves a more attractive investment opportunity?
- How to promote efficiencies, transparency and security in local markets?
Odion Wesley Omonfoman, Chief Operating Officer, Avidor Oil & Gas Ltd
Charles Inyangete, Chief Executive Officer, Nigerian Mortgage Refinance Company (NMRC)
Chinua Azubike, Chief Executive Officer, InfraCredit
Madhukar Khetan, Chief Operating Officer, Dufil Prima Foods Plc.
Mas'ud Balogun, Company Secretary/Legal Advisor, Lotus Capital
Dapo Olagunji, Group Treasurer, Access Bank
Moderated by: Kobby Bentsi-Enchill, Head Debt Capital Markets Nigeria, Stanbic IBTC Capital
10.10 Adapting to the new normal: How are South Africa’s top tier funding and managing risk in this new environment of increased volatility?
- How are South Africa’s top banks and corporates approaching the capital markets for funding? What are the new structures and markets that are being considered?
- Managing FX and rates risk: What derivatives are available to hedge? How are companies getting around wrong way risk?
- Outlook for 2017: How much funding is required? Which markets are most attractive to borrowers/issuers?
Resimate Baloyi, Senior Manager, Project and Structured Finance, MTN
Nomhle Mnguni, Funding and Portfolio Management, Treasury, Eskom
Dirkje Bouma, Corporate Treasurer, Growthpoint Properties
Moderated by: Arvana Singh, Principal, Debt Capital Markets, Nedbank
10.55 Coffee and networking
11.15 Is mezzanine debt capital an emerging asset class in Africa?
- Rationale for Mezzanine as a separate asset class? Is there a funding gap for growth capital in Africa due to bank [retrenchment] and inefficient capital markets?
- Current and potential significance of Mezzanine: current providers, appetite and fundraising activities?
- Key factors that will lead to further growth of the Africa Mezzanine space?
Ramon Walsh, Head of Banking, Actis
Phillip Myburgh, Chief Executive Officer/Partner, Ethos Mezzanine Partners
Daniella Keet, Head: Syndication and Distribution, South Africa and Sub-Saharan Africa, Rand Merchant Bank
Dominic O'Brien, Partner, Banking and Finance, Orrick
Moderated by: Holger Rothenbusch, Managing Director, CDC Group
12.00 Kenyan debt management: What are the government’s strategies for supporting GDP growth and funding infrastructure pipeline?
- How much capital does the sovereign need to raise in order to meet its growth targets for 2017?
- Strategy in the international capital markets – where, how and when can the market expect Kenya to issue?
Felister Kivisi, Director, Debt Management Office, National Treasury, Republic of Kenya
12.20 Uncovering Kenya’s markets: Corporate and project financing in the international and local markets
- Local asset managers, pension funds, family offices, hedge funds and institutional investors: How much liquidity exists here and how can they help develop the local markets? How can Kenya attract international fund managers to the local market?
- Bonds vs. loans, international vs. local: Where can Kenyan borrowers access capital for growth, capex and project development?
- What role are international banks, developers, ECAs and multilaterals playing in the financing of infrastructure projects in Kenya? By what criteria do they select the projects to support?
- What criteria do commercial banks have when considering project financing opportunities? How much capital can they bring into deals compared to development banks?
- How to entice private investors into participating in Kenyan projects through PPP’s
Ronald Kasolo, Investment Manager, Uganda, GenAfrica Asset Managers
Clemens Calice, Partner, Lions Head Global Partners and Fund Manager, ALCB Fund
Nicholas Malaki, Senior Vice President, Chief Investment Officer, Kenya, PineBridge Investments
Stephen Migwi Magu, Managing Director, Kenya Solar Energy
Douglas Bennet, Chief Operating Officer, GuarantCo
Matthew Bauer, Senior Manager, Syndications, International Finance Corporation (IFC)
Moderated by: Martin Richardson, Head of International Debt Capital Markets, Rand Merchant Bank
13.10 Chairperson’s closing remarks followed by close of conference and lunch hosted by MUFG
To find out about speaking opportunities emai Rebecca.Mead@GFCMediaGroup.com or call +44 207 045 0936.