MiDA Investment and News Update
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Africa and Emerging Markets Summit
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Africa and Emerging Markets Summit (AEMS)
The NASP annual pension funds conference was held in Baltimore in June 2019. The conference started with the Africa and Emerging Markets Summit (AEMS) on the first day, which convened close to 250 leading decision makers and market participants from over two dozen countries, including South Africa, Kenya, Nigeria, Mauritius, Uganda, Tanzania, Egypt, Senegal, Ghana, India, UK, Singapore, United Arab Emirates and more. The sessions were filled with various presentations and bilateral meetings between US asset owners and African asset managers facilitated by AEMS organizing committees and MiDA staff. AEMS has grown to become a platform for leading US-Africa investors to engage and discuss investment opportunities and deepen the relationships for mutual benefit among the delegates from various regions.
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USAID Deputy Administrator Bonnie Glick as Keynote Speaker
USAID Deputy Administrator Bonnie Glick was the Keynote Speaker at AEMS. Ms. Glick remarks focused on US government new policy – Prosper Africa - focused on pursuing Africa’ growing market opportunities for US investors and competing for greater presence in the region. Further, Deputy Administrator Glick highlighted the expanded role of institutional investors in this new strategy and the need to expand the mobilization of US asset owners for sustainable investments as currently being implemented by the NASP-USAID investment Partnership “MiDA”.
Ms Glick was able to meet privately with several advisory council members and exchange on their recent investments in Africa. Before her departure, Ms Glick was presented a Letter of Appreciation signed by several members of the Advisory Council.
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Roadshow
MiDA Roadshow in London, Johannesburg, Cape Town and Nairobi:
Teachers' Retirement System of the State of Illinois, Casey Family Programs, City of Philadelphia, Eskom Pension and Provident Fund (EPPF) and the Kenyan Pension Funds Investment Consortium (KEPFIC)
Last September, MiDA organized a multi-country roadshow with Illinois Teachers Retirement System's Executive Director, Richard Ingram; Casey Family Programs Chief Investment Officer Joseph Boateng; City of Philadelphia Treasurer/ trustee Christian Dunbar; EPPF Chief Investment Officer Ndabe Mkhize; and leaders of the Steering Committee of KEPFIC Sundeep Raichura, CEO of Zamara; Kenneth Kaniu, CEO of Britam Asset Management; and Constantine Kandie, pension fund trustee.
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The roadshow included meetings and office visits with over a dozen asset managers across all three countries, and site visits of investment opportunities in social infrastructure, including hospitals and student housing accommodations, which has been funded by EPPF and US OPIC. MiDA staff worked with the investors on pre-selecting fund managers as part of their due diligence process.
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In September 2019, KEPFIC received the “Africa Investor Infrastructure Investment Initiative of the Year 2019 award” as part of the Ai Pension Funds Summit in South Africa. MiDA Managing Director Aymeric Saha accepted the award on their behalf and spoke of the exemplary model KEPFIC represents for local African pension funds coming together to enhance their technical capacity and pooling their assets to invest in local infrastructure which is facing significant funding gaps. MiDA has been a key partner of KEPFIC and its members over the last two years, and recently initiated a successful funding request with USAID-Kenya to secure additional resources for the initiative.
The award was presented by Mr. Saha to KEPFIC’s Steering Committee the following week in Nairobi, Kenya.
USAID-Kenya and East Africa attended the session and announced new support to KEPFIC.
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U.S. International Development Finance Corporation (DFC) Officially Launched
U.S. International Development Finance Corporation (DFC) to Launch in October
The new DFC will advance U.S. investment in emerging economies by doubling the investment cap from $30 to $60 billion.
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We welcome your participation at any of these events
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APEC Investor Forum
- The Investor Forum will be held in Santiago, Chile on November 15, 2019 in the lead up to the Asia-Pacific Economic Cooperation (APEC) Leaders’ Summit. The forum will bring together top global investors, Heads of State, Finance Ministers, and leading financial bodies and institutions.
- Read more here
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African Development Bank Investor Forum
- This investor forum will take place on November 11-13 in Johannesburg, South Africa.
- Read more here.
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World Bank Annual Spring Meetings
April 17 – 19, 2020 in Washington, D.C.
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NASP Consultants Retreat
October 2nd - 3rd in Chapel Hill, NC
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- Delegation Trip - March/April 2020
- Africa and Emerging Markets Summit June 2020
- Roadshows and other meetings
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News Updates: Investments in Africa
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The $152.5 billion
Texas Teacher Retirement System
committed a total of
$275 million
to two infrastructure funds managed by a pair of existing managers in August
Actis Capital
received a $75 million commitment from TRS' $8.7 billion infrastructure portfolio for investment in Actis Long Life Infrastructure Fund. The fund will invest in projects in emerging market countries in Africa, Asia and Latin America, the transaction report showed
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Verod Capital:
West Africa's largest clothing manufacturer, DTRT Apparel Ltd (DTRT), today announced a major investment from leading investment firm Verod Capital Management and Red Bull GmbH, in a transformative deal for the West African apparel industry. Verod capital is one of MiDA's Industry Partners.
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Profile: Africa's burgeoning middle class
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Africa’s middle classes are growing, providing the backbone of an economic revolution that is attracting billions of dollars of foreign capital and changing the face of the continent.
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General Updates from African Partners
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EPPF Appoints new CEO, Linda Mateza
Linda Mateza attended the AEMS conference last June in Baltimore and was a speaker on the Women in Finance Panel. We congratulate and wish her well on her appointment as CEO of South Africa 2nd largest pension fund!
EPPF announces new Incubation Program for Infrastructure at Transformation breakfast
CIO Ndabezinhle Mkhize, touched on the success of the Fund’s asset manager incubation program and the consistent efforts of the Fund to drive greater transformation in the investment industry as a whole. He also shared the Fund’s plans to expand the program into the real assets (infrastructure and direct property) and private equity sub-asset classes. To ensure the sustained success of this critical initiative, Mkhize announced the appointment of Thuso Incubation Partners as the programme’s manager.
MiDA Managing Director Aymeric Saha made a presentation during the event on the state of US pension funds’ diverse and emerging managers programs, lessons learned and discussed the need to be practical but bold in such initiatives to achieve real inclusion.
GEPF held is second Thought Leadership Conference in Cape Town, September 2019
The Government Employees Pension Fund (GEPF) is the largest pension fund in Africa with over $120 billion in assets.
Themed “in Pursuit of Excellence”, the
Thought Leadership Conference
is a gathering of the leading pension funds and experts in pension funds governance and investments in Africa and across the globe. It is aimed at embracing knowledge sharing and fulfilling the needs of various stakeholders through providing thought provoking leadership discussions to source solutions, generate business and to connect with new and existing pension networks. MiDA Managing Director Aymeric Saha participated on the international investing panel and presented the case on why US pension funds that are significantly underfunded with rosy investment return assumptions need to look into international markets for opportunities.
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Members Featured at Africa Investor (Ai) Conference
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