Highlights of Key Investments Mobilized | |
Facilitating capital into African markets takes consistency and a commitment to capacity development on both sides of a transaction. Through partnerships, education, and facilitating connections, MiDA Advisors supported the mobilization of almost half a billion dollars in commitments and transactions into African markets in 2022. Below are highlights of these transactions: | |
MiDA Supported Co-Investment Fund that Allocates to Support SMEs in West Africa | MiDA Advisors, with the support of the United States Agency for International Development (USAID), mobilized U.S. and African Institutional Investors to co-invest in an Africa focused fund – ADP III managed by Development Partners International (“DPI”). As a result of this successful close, DPI announced it was investing $64 million for a significant minority stake in a high-growth financial services business, Groupe Cofina. This transaction will support Groupe Cofina in its mission to accelerate growth for Francophone West and Central Africa’s small and medium enterprises (SMEs) – a critical sector helping to drive economic development in the region. | |  |
MiDA Supported KEPFIC to Invest into the Lot 3 Road Project Bonds | MiDA Advisors is pleased to share that members of the Kenya Pension Fund Investment Consortium (KEPFIC) have invested into the Lot 3 Road Project Bonds. The Lot 3 Road Project comprises the financing, designing, building, maintenance and transfer of two sections of 143km of roads in Wajir closer to the Ethiopian border, and Mandera, closer to the Somalian border. Funds raised through the bonds will go toward upgrading the roads to paved standards of gravel and earth roads, plus rehabilitating/reconstructing portions of existing roads including bridges, culverts, road intersections, drains, etc., and maintaining them. | | |
The Asset Owners Forum South Africa Celebrated its One-Year Anniversary with USD $400 million in Commitments | | |
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The Asset Owners Forum South Africa (AOFSA) commemorated its first year since its establishment on November 18 in Johannesburg. During the event, AOFSA Chair and Principal Executive Officer of the Government Employees Pension Fund (GEPF) Musa Mabesa announced the Forum's incredible achievement of collectively committing R5.7 billion ($400 million USD) to infrastructure over the past 24 month, exceeding the R860 million target by nearly seven times.
Created to mobilize South African retirement funds to invest in infrastructure, real assets and other alternatives with 13 funds forming the core membership base, this Forum is enabling retirement funds to collaboratively increase their awareness and allocations to infrastructure by creating opportunities for co-investments.
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Supporting the Enabling Environment | |
In 2022, MiDA Advisors supported USAID and Prosper Africa's Institutional Investors Delegation Trips to three different regions on the Continent. | |
MiDA Advisors Facilitated Institutional Investors to Senegal and Kenya | |
In the first Delegation trip post-COVID, MiDA Advisors supported a USAID Delegation of institutional investors to Senegal and Kenya in April 2022 focused on re-igniting interest in African markets. The Delegation had 3 core objectives - providing direct exposure and education, building relationships, and exploring co-investment opportunities. The Delegation connected with high-level leaders from both the U.S. and Africa throughout the trip. The U.S. Ambassador to Senegal Michael Raynor, representatives from the U.S. Mission to Kenya, KEPFIC leadership, and others engaged with delegates through various conferences and meetings. | |
MiDA Advisors Facilitated Institutional Investor Delegation to South Africa | |
 | In early August 2022, MiDA Advisors facilitated a USAID and Prosper Africa Delegation of U.S. institutional investors to Johannesburg and Cape Town, South Africa. MiDA partnered with Standard Bank Group, the Asset Owners Forum of South Africa (AOFSA), the Association of Black Securities and Investment Professionals (ABSIP), the Chartered Financial Analyst (CFA) Institute of New York and South Africa, and others in one of the most impactful trips to date. Programming focused on furthering the education of investors, building relationships between U.S. investors and African counterparts, and exploring investment opportunities through on-the-ground site visits in both Johannesburg and Cape Town. MiDA Advisors facilitated discussions between delegates and major U.S. government agencies about strategies to unlock more U.S. public and private capital in focal areas including climate financing, infrastructure, and digital transformation. Delegates met with U.S. Undersecretary of State Jose Fernandez, USAID Mission Director Andy Karas, and Charge de Affaires Heather Merritt. | |
Supporting Gender Economic Empowerment in Africa | |
The African Women Impact Fund's (AWIF) First Commitment of USD $60 million was Announced at the United Nations' Global Africa Business Initiative | |
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MiDA Advisors is proud to support the United Nations' Economic Commission for Africa (UNECA), Standard Bank Group, and the African Union (AU), with investments from the BADEA - Arab Bank for Economic Development in Africa, the Motor Industry Retirement Funds (MIRF) of South Africa and the Copartes Pension Fund. The African Women Impact Fund (AWIF) celebrated its first commitment of USD $60 million announced on Monday, September 19, at the inaugural Global Africa Business Initiative during the United Nations General Assembly in New York City.
MiDA Advisors serves as the strategic advisor to AWIF to help champion women economic empowerment in the financial sector through connections that lead to impact. AWIF's primary goal is to alleviate systemic biases against women in the asset management industry by enabling women owned and led funds on the African Continent through technical assistance and investment support.
To date, AWIF has a total of USD $85 million in commitments and is seeking additional investments to support its mission.
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A Successful Close to the WE>MI Program | | |
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MiDA Advisors is pleased to announce a successful end to the inaugural Women Empowerment Mentoring and Incubation Fund Manager Programme (WE>MI), with a total of 9 cohort graduates from Southern Africa and $22 million USD in allocations. Through the INVEST-USAID funded WE>MI Program, cohort members were provided with over 166 hours of official support in the form of workshops, masterclasses, mentoring, and one-on-one meetings in both the technical assistance and investment support phases.
MiDA Advisors is seeking additional financial support to expand WE>MI throughout Africa to empower more women-owned fund managers.
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MiDA Team Presents the Investment Case for Africa | |
CEO Aymeric Saha Speaks about USAID and Prosper Africa's Impact | |
Aymeric Saha joined Witney Schneidman, Senior International Advisor for Covington & Burling LLP and Gayle Smith, CEO of One Campaign on a panel to discuss the progress made with Prosper Africa and USAID to support the mobilization of U.S. private sector investment into Africa.
The panelists emphasized the need for the continued support and commitment from the U.S. government to push forward with the momentum gained.
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Partner & Senior Managing Director Nadine Mentor Williams Speaks at the Milken Institute's Middle East & Africa Summit | Partner and Senior Managing Director Nadine Mentor Williams spoke at the Milken Institute’s Middle East and Africa Summit representing MiDA Advisors on a panel about Long-Term Investing Opportunities, highlighting some of the work that MiDA is leading/supporting on the Continent. | | |
Associate Director Yeabsira Zewdie Presents at the NASP Legislative Symposium | Associate Director of Programs and Partnerships Yeabsira Zewdie presented on MiDA's work facilitating U.S. institutional capital within African markets at the NASP Annual Legislative Symposium. Mrs. Zewdie reinforced the importance of U.S. governmental support and strategic partnerships with entities like NASP. | | |
Managing Director Roselyn Spencer Facilitates a Discussion at the AOFSA Anniversary Event | Managing Director Roselyn Spencer facilitated a fireside chat on solutions for the Just Energy Transition from coal to renewable energy in South Africa at the AOFSA Anniversary event. The chat featured perspectives from commercial banks and institutional investors. | | |
MiDA Advisors Facilitates a Prosper Africa U.S. Institutional Investors Delegation to the U.S.-Africa Leaders Summit in Washington, DC | |
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The 2022 U.S. Africa Leaders Summit (USALS) and U.S. Africa Business Forum (USABF) was held on December 12-14 in Washington, DC to demonstrate the United States' longstanding commitment to Africa while strengthening ties between the United States and African Nations. MiDA Advisors facilitated a Prosper Africa U.S. Institutional Investors Delegation that participated in events hosted by the State Department, Prosper Africa, and other side events.
Delegates reconnected with U.S. Undersecretary of State Jose Fernandez to continue the conversation around ways the U.S. government can be a strategic partner in overcoming barriers to investing in Africa. Delegates also attended a Department of State-hosted Innovators Gathering reception and listened to remarks from Mayor of New York City Eric Adams and U.S. Secretary of State Antony Blinken. During the final day of the Delegation, Delegates convened at the USABF where Prosper Africa COO Leslie Marbury announced the initiative's commitment to mobilize USD $1 billion into African markets through catalytic partnerships. President Biden in his remarks, emphasized the United States' strong commitment to strengthened economic ties between the U.S. and African nations.
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MiDA Advisors Partners with NASP for an Impactful Africa and Emerging Markets Summit 2022 | |
MiDA Advisors and NASP hosted a successful Africa and Emerging Markets Summit (AEMS) at the Annual NASP Conference in June 2022 in Chicago. Panel discussions covered a wide range of topics including climate financing, venture capital, and an asset allocators panel that shared perspectives on the opportunities on the Continent. In person for the first time since the beginning of COVID, MiDA Advisors was pleased to host an African delegation at AEMS with members from the Asset Owners Forum of South Africa (AOFSA), Standard Bank Group, the Kenyan Pension Funds Investment Consortium (KEPFIC), the Association of Black Securities and Investment Professionals (ABSIP), and others.
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MiDA Advisors Welcomes New Partner and Chief Operating Officer | | |
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MiDA Advisors is pleased to welcome Stéphane Le Bouder as Partner and Chief Operations Officer (COO). In his role as COO, Mr. Le Bouder will support the design, implementation, and execution of business strategies focused on expanding the business across new client relationships, business sectors, and regions.
Mr. Le Bouder joins MiDA Advisors from the U.S. House of Representatives, where he served as Deputy Staff Director of the House Foreign Affairs Committee (HFAC), under Chairman Gregory W. Meeks of New York and oversaw committee operations and worked to advance the vision of the Chairman across the Committee’s jurisdiction.
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The World To Africa Survey | | |
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MiDA partnered with Standard Bank Group, BNY Mellon, AVCA, SAVCA, Global Custodian and the Value Exchange to create the World to Africa Survey, which explores the questions: How are global investors making the most of the Africa opportunity? What is the case for investing into African markets today? What is driving people to act or to hold back from investing? Where are the triggers for greater flows into Africa's markets?
The survey provides insight into these questions and helps investors identify a viable path for investing in Africa.
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