Supporting the Enabling Environment | |
Prosper Africa U.S. Institutional Investors Delegation Trip to South Africa | |
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MiDA Advisors supported the Prosper Africa U.S. Institutional Investors Delegation Trip to South Africa between October 1st - 6th, 2023. The Delegation Trip took place in conjunction with the GEPF Annual Thought Leadership Conference, a gathering of leading pension funds, experts in pension funds, investment, and economic policy decision-makers in Africa and across the globe. GEPF is the largest pension fund in Africa.
The Delegation Trip to South Africa brought together 8 U.S. Delegates representing institutional investors, endowments, consultants, and other financial institutions across the U.S. with aggregated assets under management/advisement totaling over USD $1 trillion. Delegation members participated as panelists in informative sessions during the GEPF Conference and attended transaction-focused bilateral meetings with private equity, venture capital, and other funds offering investable products. Other key engagements included meetings with Prosper Africa, United States Embassy/United States Agency for International Development (USAID) Mission, United States Trade and Development Agency (USTDA), United States International Development Finance Corporation (USDFC), representatives of Standard Bank, the World Bank Group, the International Finance Corporation (IFC), and the South African private sector.
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Prosper Africa Roundtable Discussions with the U.S. Embassy,
USAID Mission, USTDA, and the USDFC
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During the Delegation Trip to South Africa, Delegates attended roundtable discussions with representatives of U.S. government agencies which highlighted U.S. priorities and investment opportunities in South Africa and the region. Ambassador Reuben Brigety, U.S. Ambassador to South Africa, was a featured speaker and provided insightful remarks. | |
Leading up to the Prosper Africa U.S. Institutional Investors Delegation Trip to South Africa, MiDA hosted a webinar on September 18th, 2023. Daniel Bond, Principal Advisor at MiDA, and Acha Leke, Senior Partner at Mckinsey & Company, provided a current macroeconomic overview of the African Continent and highlighted key findings on U.S. institutional investments in Africa. | |
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Mr. Daniel Bond, Principal Advisor at MiDA Advisors, highlighted key bankable investment projects in different countries in Africa. With a particular focus on South Africa, Mr. Bond noted that there are more efforts to invest in ESG-related projects to help achieve SDG goals. Mr. Bond emphasized the importance of American delegates visiting the African Continent to get a better sense of the real risks associated with investments and adjust their perceptions of the Continent, so that they better reflect reality. He referenced key information about infrastructure investment opportunities in Africa from two research papers that Mercer, MiDA, and Standard Bank collaborated on:
Investment in African Infrastructure
Infrastructure Financing in Sub-Saharan Africa
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Mr. Acha Leke, Senior Partner at McKinsey & Company, spoke about how Africa's human capital and natural resources will accelerate productivity and reimagine its economic growth. With Africa having the youngest and fastest-growing population, Mr. Leke noted the potential of Africa to boost economic outputs and job creation. He also helped educate Delegates about Africa’s potential and worked to dispel misperceptions about the level of risk associated with investments on the continent. Mr. Leke referenced the following article published by McKinsey Global Institute during his presentation:
Reimagining Economic Growth in Africa: Turning Diversity into Opportunity
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Supporting Gender Economic Empowerment | |
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Congratulations to WE>MI (Women Empowerment Mentoring and Incubation Fund Manager Program of Southern Africa) Cohort Member, Ditiro Capital, on reaching its first close. Ditiro secured R360 million in investment commitments from Thuso Partners, the Motor Industry Retirement Funds, and Telkom Retirement Fund. RisCura played a major facilitating role in securing some of the investors.
Madichaba Nhlumayo, Founder and CEO of Ditiro Capital, is an alumna of the inaugural cohort of WE>MI. Ditiro centers its investment projects around South African, medium-sized businesses that demonstrate sustainable growth in sectors like healthcare, food processing, and manufacturing. Ms. Nhlumayo was recently interviewed in a South African newspaper, highlighting her success with Ditiro Capital. We are proud of Ms. Nhlumayo for her work as a fund manager and for achieving this huge milestone with her team.
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MiDA Makes the Investment Case for Africa | |
Executive Director Constantine Kandie and Associate Sarah Louis attended the KEPFIC Conference
July 20th- July 21st: Constantine Kandie and Sarah Louis participated in the Kenya Pension Funds Investment Consortium (KEPFIC) 2023 Annual Investment Conference in Nairobi, Kenya. Key stakeholders, including pension funds, fund managers, and industry experts gathered to discuss the importance of infrastructure and alternative assets investments by pension funds in Kenya.
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Aymeric Saha CEO of MiDA Advisors presented at the NASP Conference
July 24th- July 26th: MiDA Advisors is proud to have been a part of the Africa and Emerging Markets Summit at the National Association of Securities Professionals (NASP) Annual Financial Services Conference. Aymeric Saha shared key updates about MiDA's initiatives to highlight the collaborative efforts with African partners who attended the conference.
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Executive Director Constantine Kandie participated in the Inaugural Africa Climate Summit (ACS) in
Nairobi, Kenya
| September 4th-6th: ACS was organized in parallel with Africa Climate Week to bring key stakeholders together to exchange ideas on climate solutions. Constantine Kandie engaged with attendees to learn about innovative ways to mobilize capital into Kenya, such as creating and developing sustainable impact infrastructure projects. | |
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MiDA Executive Director Constantine Kandie and Senior Associate Peter Karanja attended the East Africa Venture Capital Association (EAVCA) Conference | |
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September 14th: MiDA Advisors Executive Director Constantine Kandie and Senior Associate Peter Karanja attended the 7th Annual EAVCA Conference in Nairobi, Kenya. This conference provided stakeholders with firsthand knowledge about the latest developments shaping investment flows into East Africa and served as an opportunity for business leaders and industry experts to foster engagements in the Venture Capital space.
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U.S.-Kenya Business Roadshow, San Francisco, California | |
September 15th: MiDA Advisors’ Partner and Managing Director Roselyn Spencer attended the 2023 U.S.-Kenya Business Roadshow in San Francisco, California. Stakeholders in attendance benefitted from insightful remarks by President William Ruto of Kenya who highlighted potential business opportunities in Kenya. | |
MiDA Advisors at Mercer CIX Launch Event | |
September 20th: MiDA Advisors participated in the Mercer Catalytic Investment Exchange (CIX) Pilot and Launch event in New York during the United Nations General Assembly week focused on Climate Change. Attendees learned about investment opportunities in Africa with a particular focus on green and climate investments. Mercer’s CEO, Martine Ferland, welcomed everyone in attendance. British Robinson, the Coordinator for Prosper Africa, gave opening remarks, and Dr. Vera Songwe provided a keynote address. Our CEO Aymeric Saha delivered insightful remarks on “How to explore investments and mitigate risk in a dynamic landscape” on a panel. Partner and Senior Managing Director of MiDA Advisors Nadine Mentor Williams was also in attendance. | |
MiDA CEO Aymeric Saha spoke on Green Investment Opportunities in Africa | September 21st: MiDA CEO Aymeric Saha spoke on a livestream panel hosted by "We Don't Have Time." He also participated in a climate conversation with panelists on catalyzing green investment opportunities in Africa. | |
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MiDA Attended the Unstoppable Africa High-Level Dinner
September 21st: MiDA Advisors attended the Unstoppable Africa High-Level Dinner hosted by the Global Africa Business Initiative (GABI) in New York. Attendees discussed ways to accelerate and amplify Africa to new heights in terms of business growth and economic transformation. MiDA CEO Aymeric Saha, and Partner and Senior Managing Director Nadine Mentor Williams attended the dinner and were able to engage in thoughtful conversation with MiDA partners—British Robinson, Coordinator for Prosper Africa, and Cameron Khosrowshahi, Senior Investment Advisor for Prosper Africa.
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MiDA COO Stéphane LeBouder Moderated CBC Panel with Congressman Gregory Meeks
September 22nd: MiDA Advisors participated in the Congressional Black Caucus Foundation’s 52nd Annual Legislative Conference (ALC). MiDA COO Stéphane LeBouder moderated the panel on “Leveraging the Diaspora: Government Tools to Deepen Commercial Ties in Emerging Markets.” Opening and closing remarks were provided by the Honorable Congressman Gregory W. Meeks, Ranking Member of the House Foreign Affairs Committee. Panelists included Reta Jo Lewis, Chair of the Export-Import Bank of the United States; Camille Robinson, Senior Advisor at the United States Department of Commerce; Arun Venkataraman, Assistant Secretary of Commerce for Global Markets at the United States Department of Commerce — International Trade Administration; Constance Tzioumis, Director of Partnerships at the United States Department of State; British Robinson, Coordinator for Prosper Africa; and Nisha Biswal, Deputy CEO of the United States International Development Finance Corporation. CEO Aymeric Saha was also in attendance at this event.
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MiDA CEO Aymeric Saha Met with South African Finance Leaders
October 2023: CEO Aymeric Saha met with finance leaders in South Africa during the Prosper Africa U.S. Institutional Investors Delegation Trip to South Africa.
Mr. Saha met with South Africa's Finance Minister, Enoch Godongwana; Standard Bank's Corporate & Investment Banking CEO, Kenny Fihla; and Government Employees Pension Fund's (GEPF) CEO, Musa Mabesa about collaborating on infrastructure projects.
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MiDA Advisors Welcomes Three New Team Members | |
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John Jumwa
Based in the Nairobi office, Mr. Jumwa is a Senior Associate with the Transaction Advisory Services Team. He is an experienced professional with skills in financial modeling, business valuation, and market analysis. Prior to working at MiDA, Mr. Jumwa was a Senior Investment Analyst at Dyer and Blair Investment Bank in Nairobi. Mr. Jumwa joined MiDA in September.
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Mercy Naitore
Based in the Nairobi office, Ms. Naitore is a Senior Associate with the Development Finance Services Team. She is a certified financial analyst with experience in the civil society sector and financial management. In her previous role, Ms. Naitore was a Finance and Administration Manager for the Dignitas Project Trust in Kenya. Ms. Naitore joined MiDA in September.
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Sarah Louis
Based in the Washington, D.C. office, Ms. Louis is an Associate with the Development Finance Services Team. She has skills in writing, research, and project management. Before joining MiDA, Ms. Louis worked as an Education Program Officer at Kakenya's Dream in southwestern Kenya through the Princeton in Africa Fellowship Program. Ms. Louis joined MiDA in July.
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MiDA Advisors Promote Sean Duncan and Peter Karanja | |
Sean Duncan was recently promoted from Lead Associate to Associate Director of Development Finance Services on September 1st. Mr. Duncan is based out of our Washington, D.C. office and is a phenomenal employee who is dedicated to the work that MiDA does. Congratulations Sean! | | |
Peter Karanja was recently promoted from Senior Associate to Lead Associate of Transaction Advisory Services on September 1st. Mr. Karanja is based out of our Nairobi office and is essential in the work that MiDA does. MiDA is grateful to have him on the team. Great job Peter! | | |
MiDA Advisors Originates $274 Million Investment in Affordable Housing in West Africa
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MiDA Advisors is proud to have served as the Originator and Lead Transaction Advisor on this landmark Caisse Régionale de Refinancement Hypothécaire (CRRH) transaction. This blended finance transaction represents a major step towards increasing access to affordable housing in West Africa while deepening local capital markets. Thank you to everyone who helped make this transaction possible including Prosper Africa, the U.S. International Development Finance Corporation, DAI INVEST, Brean Capital, LLC, Bank of America, BNY Mellon, CrossBoundary, and Kutak Rock.
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Mobilizing Investment for Development with Transaction Advisory Services | |
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In the markets in which USAID is present, systemic barriers limit the flow of investment. This learning brief describes how MiDA Advisors' transaction advisory services are being used to address donor priorities and offers practical guidance on the design and management of programs using transaction advisory services to facilitate private sector investment. Click below to learn more about the impact of our work with Prosper Africa and USAID.
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Local Pension Funds are Models for Meeting Infrastructure Needs in Africa | |
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Pension fund consortiums like the Kenyan Pension Funds Investment Consortium (KEPFIC) and the Asset Owners Forum of South Africa (AOFSA) are models of how African asset owners can pool assets to invest in their local economies, bridging financing gaps in sectors like infrastructure. MiDA Advisors is proud to have been the Lead Technical Advisor to KEPFIC and the AOFSA.
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Africa: GTI to test the AfCFTA | Supply-chain disruptions, such as Covid-19 and the Ukraine-Russia crisis, have highlighted the importance of improving supply chains, particularly expanding food production in Africa. The Africa Continental Free Trade Area (AfCFTA) is a potential avenue to address these issues. Trading under the AfCFTA agreement began in January, but actual trading only began during the first phase of the Guided Trade Initiative (GTI). Eight countries, including Cameroon, Egypt, Ghana, Kenya, Mauritius, Rwanda, Tanzania, and Tunisia are currently testing AfCFTA policies and operations. | | |
IFC Gives Sustainable Loan to South African Commercial Bank | |
Financial Services Provider Standard Bank has successfully closed a $250 million sustainable seven-year term loan with the International Finance Corporation (IFC). This aligns with the bank’s sustainability strategy and commitments to finance renewable energy power plants and social projects in South Africa, as well as across the Continent. his transaction represents the IFC's inaugural foray into sustainable loans in collaboration with a South African commercial bank.
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These research reports may not be re-distributed to any other person without Standard Bank Group Securities express written consent.
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SBG Securities Research may not be distributed to the public media or quoted or used by the public media without the express written consent of the Standard Bank Group.
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Mercer Launches Catalytic Investment Exchange (CIX) to Support Energy Transition Projects
The CIX Project brings together deal sponsors and direct investors to navigate investments. Mercer's goal is to enable effective and efficient due diligence, providing potential investors with a digital due diligence review platform and the opportunity for investors to meet with deal sponsors at Mercer-led events around the world.
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During the upcoming State Association of County Retirement Systems (SACRS) Conference this month, Nadine Mentor Williams, Partner and Senior Managing Director at MiDA Advisors; Vivian Gray, Trustee at Los Angeles County Employees' Retirement Association; and Romi Bhatia, Senior Finance and Investment Officer at USAID/Prosper Africa will speak on the Exploring Africa as an Investment Opportunity panel. | |
The New York City Comptroller's Office is having its 2023 Annual Diverse & Emerging Managers Investment Conference. Hosted by the Bureau of Asset Management, under the leadership of Chief Investment Officer Steven Meier, this year's conference will take place in person on Thursday, November 16th from 8:00 a.m. to 5:00 p.m. | | | | |
