GCP SOLARAN INTRODUCTION
1.  How we got started.2.  The need for Solar lights - sustainability.3.  The Product4.  Impact investing5.  Exit Strategi...
3World BankPRIVATE AND CONFIDENTIAL10 December 2012Appointed distributionPartner in Ghana byIFC/World Bank
“To be the leading solar lightdistribution company inAfrica.”4Aim of GCP SolarPRIVATE AND CONFIDENTIAL
“The Dark Continent” – The Economist, 20075Source: NASA satellite photo of Earth at night. Note the difference between Afr...
Why Africa?6Source: http://www.informationisbeautiful.net/2010/the-true-size-of-africa/PRIVATE AND CONFIDENTIAL
Market sizeEstimated 400 millionpeople in Africa withoutLIGHT7PRIVATE AND CONFIDENTIAL
Phase 1 - GhanaTotal Population:Off-grid:Estimated Market Size:8PRIVATE AND CONFIDENTIAL25 million5,750,0002,500,000
Phase 2 – other marketsNigeriaSenegalTogoBenin9PRIVATE AND CONFIDENTIALEstimated market size forsolar lights –80 millionSi...
Market size - GHANACurrent marketpenetration of solar lights0.1%10PRIVATE AND CONFIDENTIAL
Running costs - GHANAKeroseneHome:Business:11PRIVATE AND CONFIDENTIALCost per mthUS$ 6.18US$ 8.92Source: IFC Lighting Afri...
The Product12PRIVATE AND CONFIDENTIAL
The Product – Didier Drogba13PRIVATE AND CONFIDENTIAL
The Product – Linkin Park14PRIVATE AND CONFIDENTIAL
GCP Solar’s business objectives•  GCP Solar will focus on:•  Cashflow positive.•  Ethical, loyal and professional staff.• ...
16Impact InvestmentsPRIVATE AND CONFIDENTIALSource: Adapted by AVPN from Skoll Centre, EVPA, CAF Venturesome, Noaber Found...
Exit StrategiesGCP Solar will evaluate all potential avenues with a view toa successful exit within 6-8 years. The market ...
Exit Strategies1.  Traditional e.g. Trade sale or listing;2.  Social Stock Exchanges.18PRIVATE AND CONFIDENTIALLondonSinga...
Exit - liquidity“…….J.P. Morgan estimates that the impactinvestment market has the potential toabsorb between US$400 billi...
Risk mitigation•  Size and scale are the dominant factors.•  GCP Solar will minimise risk by ensuring that:•  There are of...
GCP Solar’s competitive edgeGCP believes that it enjoys a substantial competitiveadvantage due to its:21PRIVATE AND CONFID...
GCP Solar financial analysisGCP Solar will have detailed KPIs and ensure that they candeliver the following set against th...
Analysis of Products, Services,Technologies, and OperationsGCP Solar will continually review the following:•  Quality, uni...
Good Governance policiesGCP Solar will enforce good governance policies –especially anti-corruption and anti-bribery.GCP S...
GCP Solar’s teamGCP Solar will always seek to attract and retain first classemployees and enhance exiting management by us...
GCP Solar’s team•  Dual citizenship – UK and Ghana.•  Founded GCP July 2012.•  2.5 months in Ghana in 2012•  HKTDC Trade M...
GCP Solar’s team•  Worked for World Bank in Ghana.•  Dede has a diverse background and has worked for theMinistry of Defen...
GCP Solar’s team•  Courtney O’Neill will focus on providing timely information toinvestors, working with the PR/marketing ...
GCP Solar’s Advisory Board•  Albert Eliason – IFC•  Carson Wen•  Brian Asparro•  David Bartlett•  John Wallington•  Prof. ...
GCP Solar’s Advisory Board•  Albert Eliason is the Country manager for IFC Lighting Africa in Ghana. He has sole responsib...
GCP Solar’s Advisory Board•  Carson Wen has more than 30 years of experience in business,corporate, and securities law. He...
GCP Solar’s Advisory Board•  Brian Asparro has been CFO and a member of the management team of GreenCharge Networks since ...
GCP Solar’s Advisory Board•  David Bartlett is the Director of the Investment Manager and the ManagingDirector and Office ...
GCP Solar’s Advisory Board•  John is a qualified accountant with over 16 years experience in seniormanagement positions in...
GCP Solar’s Advisory Board•  Dr. Bodomo is Associate Professor in the Department of Linguistics at theSchool of Humanities...
•  Jason Rickert has over 18 years of experience in Corporate Finance and M&A Advisoryhaving advised on transactions total...
Service ProvidersLawyers - GhanaAB & David37BankersStandard BankPRIVATE AND CONFIDENTIALAuditorsPriceWaterhouseCoopers
Summary1.  Appointed by IFC/World Bank2.  Approved products3.  First class team and advisory board4.  Sustainable and Save...
39PRIVATE AND CONFIDENTIAL
ContactSidney YanksonGlobal Headquarters African HeadquartersGhana Capital Partners Limited GCP Limited20/F, Central Tower...
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Gcp solar introduction v2

  1. 1. GCP SOLARAN INTRODUCTION
  2. 2. 1.  How we got started.2.  The need for Solar lights - sustainability.3.  The Product4.  Impact investing5.  Exit Strategies6.  Corporate strategy7.  Team8.  Q&A2AgendaPRIVATE AND CONFIDENTIALSource: http://www.crossed-flag-pins.com
  3. 3. 3World BankPRIVATE AND CONFIDENTIAL10 December 2012Appointed distributionPartner in Ghana byIFC/World Bank
  4. 4. “To be the leading solar lightdistribution company inAfrica.”4Aim of GCP SolarPRIVATE AND CONFIDENTIAL
  5. 5. “The Dark Continent” – The Economist, 20075Source: NASA satellite photo of Earth at night. Note the difference between Africa and South America, India or USA.http://www.ecopowerafrica.com/Electricity%20in%20Africa.htmlPRIVATE AND CONFIDENTIAL
  6. 6. Why Africa?6Source: http://www.informationisbeautiful.net/2010/the-true-size-of-africa/PRIVATE AND CONFIDENTIAL
  7. 7. Market sizeEstimated 400 millionpeople in Africa withoutLIGHT7PRIVATE AND CONFIDENTIAL
  8. 8. Phase 1 - GhanaTotal Population:Off-grid:Estimated Market Size:8PRIVATE AND CONFIDENTIAL25 million5,750,0002,500,000
  9. 9. Phase 2 – other marketsNigeriaSenegalTogoBenin9PRIVATE AND CONFIDENTIALEstimated market size forsolar lights –80 millionSierra LeoneKenyaIvory CoastBurkina FasoPopulation280 million
  10. 10. Market size - GHANACurrent marketpenetration of solar lights0.1%10PRIVATE AND CONFIDENTIAL
  11. 11. Running costs - GHANAKeroseneHome:Business:11PRIVATE AND CONFIDENTIALCost per mthUS$ 6.18US$ 8.92Source: IFC Lighting Africa Ghana Quantitative Report, 2008, page 105
  12. 12. The Product12PRIVATE AND CONFIDENTIAL
  13. 13. The Product – Didier Drogba13PRIVATE AND CONFIDENTIAL
  14. 14. The Product – Linkin Park14PRIVATE AND CONFIDENTIAL
  15. 15. GCP Solar’s business objectives•  GCP Solar will focus on:•  Cashflow positive.•  Ethical, loyal and professional staff.•  Long term competitive advantages.•  Prospect for profitable exit after 6-8 years.•  Expansion - ECOWAS.•  Obtain Carbon Credits.15PRIVATE AND CONFIDENTIAL
  16. 16. 16Impact InvestmentsPRIVATE AND CONFIDENTIALSource: Adapted by AVPN from Skoll Centre, EVPA, CAF Venturesome, Noaber Foundation
  17. 17. Exit StrategiesGCP Solar will evaluate all potential avenues with a view toa successful exit within 6-8 years. The market conditions,pricing, costs and stage of company in the growth cycle willall be taken into account. GCP Solar will consider thefollowing exit strategies:•  Public offering, both domestic and international,•  Sale or merger,•  Management buy out by senior management, or•  Splitting the company up to realize more value in the sum of theparts.17PRIVATE AND CONFIDENTIAL
  18. 18. Exit Strategies1.  Traditional e.g. Trade sale or listing;2.  Social Stock Exchanges.18PRIVATE AND CONFIDENTIALLondonSingaporeCanadaMauritius
  19. 19. Exit - liquidity“…….J.P. Morgan estimates that the impactinvestment market has the potential toabsorb between US$400 billion and US$ 1trillion over the next decade……”19PRIVATE AND CONFIDENTIALSource: ”Impact Investments: An Emerging Asset Class.”, JP Morgan, 29 November 2010;“Impact Investors in Asia”, ADB, 2011
  20. 20. Risk mitigation•  Size and scale are the dominant factors.•  GCP Solar will minimise risk by ensuring that:•  There are off-take agreements – e.g. DFID, MTN,•  GCP Solar is insured against the credit risk of non-payment,•  GCP Solar’s market is strongly supported by both the domesticGovernment and fundamental supply and demand economics.20PRIVATE AND CONFIDENTIAL
  21. 21. GCP Solar’s competitive edgeGCP believes that it enjoys a substantial competitiveadvantage due to its:21PRIVATE AND CONFIDENTIAL•  first class access todistribution expertise fromthe IFC team,•  first class products, and•  international expertise ofsenior management andadvisory board.
  22. 22. GCP Solar financial analysisGCP Solar will have detailed KPIs and ensure that they candeliver the following set against their industry benchmark:•  EBITDA growth,•  Strong revenue and earnings growth,•  Strong and steady cash flow,•  Higher profit margins than competitors,•  Improving margins,•  Strong balance sheet,•  Attractive valuation, and•  Suitable for public market, trade sale or other exit strategy.22PRIVATE AND CONFIDENTIAL
  23. 23. Analysis of Products, Services,Technologies, and OperationsGCP Solar will continually review the following:•  Quality, unique, differentiated or distinct products, services and/ortechnologies that GCP Solar believes can provide a long termcompetitive advantage,•  Strong and clear demand for such products and/or technologies,•  Strong brands and marketability,•  Access to requisite distribution channels,•  First class operating procedures and processes,•  Scalability of operations, and•  Ability to expand to other international and regional (ECOWAS)markets.23PRIVATE AND CONFIDENTIAL
  24. 24. Good Governance policiesGCP Solar will enforce good governance policies –especially anti-corruption and anti-bribery.GCP Solar also supports the UN Millennium DevelopmentGoals and will utilise accepted international guidance fromthe likes of:•  OECD•  IFC•  World Bank•  UN Development24PRIVATE AND CONFIDENTIAL
  25. 25. GCP Solar’s teamGCP Solar will always seek to attract and retain first classemployees and enhance exiting management by using externalconsultants as and when required.•  Excellent track record, distribution experience and the ability to takethe company forward;•  Clear and compelling vision, goals and strategies;•  Strong problem solving, and decision making abilities;•  Trustworthy team who work in an open, consultative and transparentmanner;•  Solid financial management and a trustworthy and technically soundCFO; and•  Ability to identify challenges and deal with adversity.25PRIVATE AND CONFIDENTIAL
  26. 26. GCP Solar’s team•  Dual citizenship – UK and Ghana.•  Founded GCP July 2012.•  2.5 months in Ghana in 2012•  HKTDC Trade Mission to Ghana – Nov. 2012.•  Banking - 16 years; Barrister in Hong Kong.•  In Ghana - contacts in Government, World Bank anddistribution partners.•  Visited 6 African countries and has personal contacts livingin all Phase 2 countries.•  BSc Physics - University of Durham.•  LLB(Hons) Law – University of London.•  LLM Law – Boston University School of law.•  PCLL – University of Hong Kong.•  Permanent resident of Hong Kong SAR (9.5 years).26PRIVATE AND CONFIDENTIALSidney Yanksonhttp://works.bepress.com/sidney_yankson/
  27. 27. GCP Solar’s team•  Worked for World Bank in Ghana.•  Dede has a diverse background and has worked for theMinistry of Defense, Ghana Ports and & Harbour Authority.•  Dede has a BA from University of Ghana in Sociology andEnglish and a diploma in human resource management.27PRIVATE AND CONFIDENTIALJennifer Dede Afagbedzi•  Worked for the World Bank in Ghana.•  Seyram has worked in a number of places including in salesfor the Accra Brewery, and for the national pension companyin Ghana – Social Security & National Insurance Trust(SNNIT).•  Seyram has a BSc in business administration (marketingoption).Seyram Kutu-Adu
  28. 28. GCP Solar’s team•  Courtney O’Neill will focus on providing timely information toinvestors, working with the PR/marketing company and anyother tasks for the management including conducting focusgroups, consumer demonstration days and so forth.•  Courtney will also be responsible for running all of GCPsexternal events.•  Courtney spent Summer 2012 working on a pre-launch marketresearch project in Ghana identifying large distributionpartners and conducting a field market analysis withconsumers for solar light products.•  Courtney has a BA from Concordia University(Canada).28PRIVATE AND CONFIDENTIALCourtney O’NeillInvestor Relations
  29. 29. GCP Solar’s Advisory Board•  Albert Eliason – IFC•  Carson Wen•  Brian Asparro•  David Bartlett•  John Wallington•  Prof. Adams Bodomo•  Jason Rickert29PRIVATE AND CONFIDENTIAL
  30. 30. GCP Solar’s Advisory Board•  Albert Eliason is the Country manager for IFC Lighting Africa in Ghana. He has sole responsibility forproviding distribution partners, such as GCP Solar with high level information and assistance to facilitatecommercial success.•  Albert Eliason worked as a member of a project team set up by Unilever Ghana to radically transform itsdistribution strategy with the objective of achieving phenomenal growth in sales volume. Albert was laterappointed Central Regional Manager of Unilever; an appointment that gave him extensive field salesexperience. He was promoted to Area Sales Manager for North-Ghana and had sales and general managerialresponsibility for Unilever operations in the three Regions of Northern Ghana. In September 1999, Albert wasappointed the Sales & Customer Service Manager of the Unilever Popular Foods Business, responsible forsetting up operations in Ghana, Nigeria and Cote d’Ivoire.•  In 2004, Albert moved to Mozambique to serve as Business Development Manager with the mandate todevelop the Unilever sales operations in Northern Mozambique.•  In 2007, Albert was appointed to the British Council Ghana as Head of Marketing & Business Development,with line management responsibility for 4 departments. Here, he led the implementation of a major changeprogramme at the Council with the aim of re-aligning the Ghana operations to British Council’s global strategy.After successful implementation of a robust change programme, he was promoted to the position of BusinessDirector.•  Albert leads a World Bank/IFC funded project designed to develop a commercially viable market in off-gridlighting in Ghana. This project supports commercial operations, such as GCP Solar, to sell solar lightingproducts to off-grid communities across Ghana. He also managed a 4-year comprehensive consumerawareness and education campaign designed to catalyse the off-grid lighting market.•  Albert has also served as business development consultant for a multinational organisation listed in the USFortune 500 and operating in approximately 90 countries.•  Albert has facilitated numerous business development, entrepreneurship, marketing and sales workshops forTullow Ghana, KNUST Business School, ESLA Group and the British Council. He holds a Bachelors Degreein Sociology & an MBA (Marketing) from University of Ghana and Associate Certificate in ProjectManagement from University of Washington. He serves intermittently as a resource person on Citi FMsBusiness Show.30PRIVATE AND CONFIDENTIALAlbert EliasonIFC
  31. 31. GCP Solar’s Advisory Board•  Carson Wen has more than 30 years of experience in business,corporate, and securities law. He also advises Chinese corporationsand other entities on their investments and listings abroad. Inaddition, he provides advice on regulatory and strategic issues.•  Carson is a third-term Deputy of the National Peoples Congress,the PRCs national parliament and constitutionally its highest organof state power, having represented Hong Kong since the Handoverin 1997. He is also Senior Adviser and former Vice-Chairman of theDemocratic Alliance for the Betterment and Progress of Hong Kong(DAB), Hong Kongs largest political party. He is as such well-versedin policy issues in Mainland China as well as in Hong Kong.•  Carson is a Justice of the Peace of Hong Kong and was awardedthe Bronze Bauhinia Star (BBS) by the Hong Kong Government forhis contribution to economic ties between Hong Kong, MainlandChina, and the rest of the world. Carson holds leadership roles invarious public organizations in Hong Kong and Mainland China.•  Carson is also a committee member of China Africa BusinessCouncil of Hong Kong.31PRIVATE AND CONFIDENTIALCarson Wen
  32. 32. GCP Solar’s Advisory Board•  Brian Asparro has been CFO and a member of the management team of GreenCharge Networks since 2009.•  Green Charge Networks is a leader in smart grid development through its focus onpower efficiency. The company specializes in building software for utilities toidentify optimal ways of distributing energy while building energy storage systems(solar, batteries, electric vehicle chargers) to reduce high energy costs for retailerssuch as 7-Eleven and Avis.•  Brian manages the overall day-to-day financial aspects of the company in additionto leading the company through its US$17 million smart grid project with ConEdison and the US Department of Energy. He has successfully led the companyfrom a small group of 5 employees to 40 employees in 2 offices by identifyingfunding resources and implementing systems to effectively manage cash flow.•  Previously, Brian worked for Moody Analytics (a subsidiary of Moody Corporation)for seven years. After roles in strategy, research and product development, Brianmoved to Hong Kong in 2005 to build a consulting practice for the Asia region. Hesecured several multi-million dollar engagements, grew the practice to a $10million business employing 20 professionals in four countries. Prior to Moodys,Brian held positions in the investment banking and financial consulting industries.•  Brian received his MBA from Northwestern University (Kellogg) and completed hisundergraduate degree in Finance and Marketing at Fairfield University.32PRIVATE AND CONFIDENTIALBrian Asparro
  33. 33. GCP Solar’s Advisory Board•  David Bartlett is the Director of the Investment Manager and the ManagingDirector and Office Head of Pacific Harbor Advisors (HK) Limited, an affiliateof the Investment Manager.•  Mr. Bartlett has over 20 years of experience in handling financialtransactions in global markets.•  Prior to joining Pacific Harbor Advisors (HK) Limited, Mr. Bartlett was theExecutive Director in Amroc Asias Hong Kong office from 2002 until 2006,generating transactions in China, Thailand and the Philippines.•  From 2000 to 2001, Mr. Bartlett was the COO of HNH Group Limited. From1998 to 2000, he was Project Manager of Corporate Banking & InvestmentResearch of Asia Market Intelligence Group.•  In 1997, Mr. Bartlett served for a year as Manager of Indonesian EquityResearch at PT Samuel Sekuritas Indonesia in Jakarta, and from 1991 to1994, he was the Program Manager of Africare based in Burkina Fasoworking with World Bank grantees and Project Manager at Associates inRural Development in Burlington, Vermont implementing USAID financings.•  Mr. Bartlett was awarded a B.A. from the University of Vermont in 1990 andan M.B.A. from the Amos Tuck School of Business at Dartmouth College in1997.33PRIVATE AND CONFIDENTIALDave Bartlett
  34. 34. GCP Solar’s Advisory Board•  John is a qualified accountant with over 16 years experience in seniormanagement positions in large global manufacturing and servicebased industries. John trained as an accountant with Unilever PLC andworked across the UK and Europe.•  In 2000, John joined Clifford Chance LLP as the Global Head of FinancialPlanning and Business Analysis.•  In 2005, John was appointed the CFO of a technology startup. InNovember 2006, John was appointed Group Corporate Controller of theUPC group of companies, managing the finances and accounting for aninternational business portfolio of Renewable Energy related companies inthe Wind and Solar sectors, Property, Mining, Oil & Gas and Energy andTechnology investments.•  John currently heads up the UPC Management, LLC Miami office andoversees all UPC interests in North America as well as the internationalconsolidation for UPC interests in the US, Canada, Europe, North Africa,China, The Philippines and Indonesia.•  John is the Vice President & Treasurer of the British American BusinessCouncil in Miami, serves on the Eleventh Judicial Circuit GrievanceCommittee of the Florida Bar and is an Executive and Non-ExecutiveDirector of several privately held US and UK companies.•  John received his BA (Hons) degree in Geography from Exeter University(U.K.).34PRIVATE AND CONFIDENTIALJohn Wallington
  35. 35. GCP Solar’s Advisory Board•  Dr. Bodomo is Associate Professor in the Department of Linguistics at theSchool of Humanities, University of Hong Kong and Director of theUniversitys African Studies Programme.•  His current projects include research:•  into Africa-China relations: from cross-cultural communication tocomparative linguistics;•  into the African diaspora in Asia, particularly China, and•  on the syntactic and semantic structures of a wide range of languages,including Dagaare, Twi, Chinese, Dong, and Zhuang.•  Professor Bodomo is author of Africans in China: A Sociocultural Study andIts Implications on China Africa Relations.•  Professor Bodomo arrived in China in 1997 and spent ten yearsresearching the story of Africans in China for his book.•  Beyond Linguistics & African Studies, he likes working out in the gym,hiking, distance running, and watching soccer. He also finds time to writeand recite poetry, and participates in lively debates about African and worldaffairs.35PRIVATE AND CONFIDENTIALProf. AdamsBodomo
  36. 36. •  Jason Rickert has over 18 years of experience in Corporate Finance and M&A Advisoryhaving advised on transactions totalling over US$30 billion for clients in North Americaand Europe.•  Jason’s experience encompasses transactions ranging from small private equityfundraisings to large public market M&A transactions for clients in a variety of industrysectors including mining, oil and gas, utilities, telecommunications and technology, cleantechnology, food and beverages and travel and leisure.•  Jason is a co-founder of Acsel Advisors Limited, a boutique corporate finance advisoryfirm established to provide high growth companies with a “big bank,” full service adviceon raising financing or executing M&A transactions. Acsel has helped companies acrossa number of sectors raise private equity and VC funding, advised VCs on acquiring andselling stakes in portfolio companies, advised both public and private companies onacquisitions and private companies on divestitures.•  Jason started his investment banking career at Wood Gundy (subsequently CIBC WorldMarkets) Canada’s largest investment bank, advising on a number of multibillion dollarpublic takeovers. In addition to a number of other public and private takeovers, Jasonalso worked on a number of public listings of companies across a variety of sectors.•  Jason moved to London in 1996 with CIBC and helped secure CIBC’s role in the globalpublic offerings of a number major European privatisations. During his time at CIBC inLondon, Jason also gained substantial emerging markets expertise having advisedclients in Latvia, Lithuania, Belarus, Czech Republic, Romania, Macedonia and Mauritius•  Jason holds an Honours Bachelor of Business Administration from Wilfrid LaurierUniversity in Canada• 36PRIVATE AND CONFIDENTIALJason RickertGCP Solar’s Advisory Board
  37. 37. Service ProvidersLawyers - GhanaAB & David37BankersStandard BankPRIVATE AND CONFIDENTIALAuditorsPriceWaterhouseCoopers
  38. 38. Summary1.  Appointed by IFC/World Bank2.  Approved products3.  First class team and advisory board4.  Sustainable and Save the Planet!!38PRIVATE AND CONFIDENTIAL
  39. 39. 39PRIVATE AND CONFIDENTIAL
  40. 40. ContactSidney YanksonGlobal Headquarters African HeadquartersGhana Capital Partners Limited GCP Limited20/F, Central Tower PO Box CT 871628 Queens Road, Central Cantonments, AccraHong Kong GhanaTel: + 852 2159 9129 + 233 548 707 200Email: sidney@ghanacp.comSkype: sidney120040PRIVATE AND CONFIDENTIAL

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