October 2019
MiDA Investment and News Update
Africa and Emerging Markets Summit
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.
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.

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.
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.
KEPFIC - Award
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.
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.
Upcoming Events
We welcome your participation at any of these events
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
African Development Bank Investor Forum
  • This investor forum will take place on November 11-13 in Johannesburg, South Africa.
  • Read more here.
World Bank Annual Spring Meetings
April 17 – 19, 2020 in Washington, D.C.
Super Return Africa

NASP Consultants Retreat
October 2nd - 3rd in Chapel Hill, NC
Plans for 2020
  • Delegation Trip - March/April 2020
  • Africa and Emerging Markets Summit June 2020
  • Roadshows and other meetings
News Updates: Investments in Africa
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

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.
Profile: Africa's burgeoning middle class
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.

Cocoa - Africa
Even though Africa produces 75 per cent of all the cocoa in the world, the continent gets only 2 per cent of the $100 billion revenue from the chocolate industry. It is not any different with the mining sector either.

DHL Expands eShop to 34 Countries across sub-Saharan Africa
Express has announced the availability of the innovative mobile and desktop platform in 14 additional countries across the region. This increases the reach of the platform across sub-Saharan
General Updates from African Partners
Members Featured at Africa Investor (Ai) Conference