March 2019
MiDA Investment & News Updates
MiDA Attends the G20 in
Buenos Aires, Argentina
At the invitation of President Mauricio Macri of the Argentine Republic and President Jim Yong Kim of the World Bank Group, a small MiDA delegation attended the G20 Investor Forum event  in Buenos Aires on November 29, 2018 in the lead up to the G20 Leaders’ Summit. 
 
The G20 Investor Forum convened Heads of State from across the world, Ministers of Finance, Regulators, Development Finance Institutions, and Institutional Investors and Influencers, to discuss areas for collaboration that can potentially increase the flow of capital toward long-term  sustainable investments in G20 markets and around the world . The objective was to discuss and adopt reforms and actions that mitigate risks and create new opportunities for investors while unlocking long-term, large-scale financing to assist countries in achieving their economic development needs by empowering businesses that pursue financial, environmental, and social returns as a core part of their operations. MiDA members discussed successful models for mobilizing private financing for infrastructure in developing countries, including expansion of the successful MiDA-World Bank partnership with local pension funds in Kenya as part of efforts from global partners to expand such initiatives and create suitable opportunities for institutional investors.
 
Members of the NASP-MIDA delegation included (pictured on the top):
Donna Sims Wilson , NASP Chair, President of Smith Graham & Co.,  Aymeric Saha , Managing Director, MiDA,  Henry Jones ,  CalPERS Board of Administration, The California Public Employees’ Retirement System (CalPERS),  Joseph Boateng,  Chief Investment Officer, Casey Family Foundation,  Leona Bridges , Commissioner, City and County of San Francisco Employees Retirement System,  Andrew Junkin,  President, Wilshire Consulting,  Mona S. Williams, President, Progress Investment Management,  Ndabe Mkhize , Chief Investment Officer, Eskom Pension and Provident Fund (EPPF).
Advisory Council Meeting
The NASP Institutional Investors Advisory Council held its first meeting to kick start the new year and introduced Lee Stephens as the new Chair of the Advisory Council. Lee is the Executive Vice President, Global Client Management at BNY Mellon. We also introduced Christian Dunbar, the Deputy Treasurer for the City of Philadelphia, as Chair of the Financial Sustainability Committee. We look forward to a New Year under the continued guidance and support of the 2019 Advisory Council members.

See a complete list here .
New publication by Mercer and MiDA
Investors Are Fearful of Risk in African Infrastructure. They Shouldn’t Be By Aymeric Saha, Managing Director, MiDA & Max Messervy, Senior Associate, Mercer

Is there an overblown perception of risk when it comes to investing in Africa’s infrastructure? Some institutional investors are beginning to bet that attractive risk-adjusted returns can be had from Africa’s burgeoning population, economy and tremendous infrastructure needs.

MiDA's Aymeric Saha, managing director, and Mercer's Max Messervy, senior associate, co-authored an article for Brink News on risk perceptions and challenges in Africa. Read more...
Chicago Public School Teachers Pension & Retirement Fund (CTPF) Assigns $20 Million to Africa-Focused Private Equity
The Board of Trustees of Chicago Teachers’ Pension Fund approved a total of $20 million in commitments to African Development Partners III (ADP III) managed by Development Partners International (DPI), and AFIG Fund II managed by Advanced Finance and Investment Group (AFIG) based in Dakar, Senegal.   Read more...
Alameda County Employees Retirement Board (ACERA) approved up to $30 million Investment in Taurus Mining Finance Fund No. 2
The approval is a part of ACERA’s Real Assets Portfolio – Natural Resources, pending completion of legal and investment due diligence, background investigations, and successful contract negotiation. Taurus Mining Finance Fund No. 2 will finance mining projects primarily on the continent of Africa . Read more...
African Investments in Headlines
CDPQ, Colombia to Launch Private Equity Infrastructure Fund 
An infrastructure co-investment platform was officially launched with the president of the Republic of Colombia, Iván Duque, the president and CEO of Caisse de dépôt et placement du Québec (CDPQ), Michael Sabia, and FDN president Clemente del Valle, as well as the presidents of all Colombian pension fund administrators in
attendance. Read More..
US Development Agency Should Take a Lead in Africa
African private equity funds continue to struggle to raise capital compared with their global peers, despite operating in an unrivalled market of untapped and underserved opportunities. African PE raised only $1bn in 2017, less than 0.2 per cent of the $453bn total raised globally. In comparison, China and India, both with similar populations to Africa, accounted for roughly 14 per cent and 1 per cent, respectively. Read More...
U.S. to Counter
Chinese & Russian Influence in Africa: Bolton
Reuters reported that the US plans to counter the rapidly expanding Chinese and Russian economic and political influence in Africa, U.S. national security adviser John Bolton said on Thursday. Washington’s No 1. priority will be developing economic ties with the region to create opportunities for American businesses and protecting the independence of African countries along with U.S. national security interests, he said in a speech at the Heritage Foundation. Read More...
The U.S. Overseas Private Investment Corporation (OPIC) has stepped up its commitment to Sub-Saharan Africa

OPIC has stepped up its commitment to Sub-Saharan Africa. The region now comprises more than one-quarter of the Agency's active portfolio. OPIC supports projects in Sub-Saharan Africa across a range of sectors from energy and small business lending to affordable housing, agriculture and infrastructure.

OPIC’s portfolio in Sub-Saharan Africa has more than tripled over the past decade ($6.28 billion) and spans 136 projects. Read more...
Mapping China’s Investments in Africa and Other Regions
China envisions a vast global network of trade, investment and infrastructure that will reshape financial and geopolitical ties — and bring the rest of the world closer to Beijing.
The New York Times published an interactive article on China's Belt and Road Initiative. Explore how China is expanding in Africa here .
Upcoming Events
  • MiDA Delegation to Kenya & South Africa, March 30-April 6, 2019, in partnership with:
( In Kenya ) the Kenyan Pension Funds Investments Consortium (KEPFIC); the African Private Equity and Venture Capital Association (AVCA), the World Bank; the United Nations Economic Commission for Africa (UNECA);

( In South Africa ) Standard Bank; t he Association of Black Securities and Investment Professionals (ABSIP), the Batseta Council of Retirement Funds (BATSETA), and the Institute of Retirement Funds Africa (IRFA)

  • African Private Equity and Venture Capital Association (AVCA) 16th Annual Conference: April 1-5, 2019 in Nairobi-Kenya

  • World Bank 2019 Spring Meetings: April 12-14, 2019 in Washington DC.

  • NASP 30th Annual Pension and Financial Services Conference including the Africa & Emerging Markets Summit (AEMS): June 24-26, 2019 in Baltimore-Maryland