The document discusses IFC's operations in Africa. IFC aims to promote private sector growth on the continent to support development goals. Key challenges Africa faces include lack of inclusiveness, food insecurity, infrastructure gaps, weak investment climates, and fragile states. IFC works with other World Bank institutions and partners to address these challenges through strategic pillars focused on fragile countries, climate change, regional integration, and encouraging entrepreneurship and key sectors like infrastructure and agriculture.
FinSight - Exchange Traded Funds, the next game changer; Learnings from the g...South Asia Fast Track
Motilal Oswal Investor Relations FinSight article series - July 2012 - Exchange Traded Funds, the next game changer; Learnings from the global experience - Sourajit Aiyer
W. R. Berkley Corporation had an outstanding financial year in 2006. Net income per share reached a new high of $3.46, increasing 27% over 2005. Net premiums written grew 5% to $4.8 billion. The company's return on stockholders' equity exceeded 25% for the fourth consecutive year.
MST and Zenith Solar develop concentrated photovoltaic systems to efficiently generate solar electricity. Agam Energy develops highly efficient engine and HVAC technologies, including an engine that uses 1/5 the fuel and emits 1/10 the pollution of conventional engines. Bitum is a leading Israeli manufacturer of sealing and insulating products that has developed environmentally friendly construction materials.
Carfinco Financial Group Inc. is a uniquely positioned auto finance company that has delivered consistent 20% annual growth. It provides financing to "non-prime" credit customers through over 1,600 dealer partnerships across Canada. Carfinco has refined credit risk management practices and vertically integrated operations that have supported strong and growing financial returns, including impressive annual returns on equity of over 50%. The leadership team emphasizes continued growth and maintaining dividend payments.
Guo Xin is a senior partner and managing director at Mercer in Greater China, as well as the chairman of Marsh & McLennan Companies in China. He has expertise in strategic organization structure, business processes, and HR systems. His experience includes working with both local private/listed companies and multinationals in China and the US. Today's discussion will cover setting the scene in China, attracting and retaining top talent, ensuring compliance with local legislation, moving critical staff to China, and ensuring success in M&A expansion.
The document discusses India's growth story before and after economic liberalization in 1991. It describes how India moved from a closed socialist-inspired economy with high import duties and public sector dominance to a more open, privatized and globalized economy after 1991. This economic reform led to significantly higher GDP growth rates, especially in industry and agriculture. However, it also led to rising inequality within India and concerns about whether the benefits of growth are being shared widely enough. The document examines debates around whether globalization and financial liberalization increase or decrease inequality and the various factors that influence this relationship. It emphasizes the need for inclusive growth that broadly distributes the benefits of economic progress.
Magazine Luiza reported strong financial and operational performance in 2011. Some key highlights include:
1) Sales growth of 33.5% in 2011, driven by new store openings, same store sales growth of 16.5%, and e-commerce growth of 44.4%.
2) Integration of recent acquisitions like Baú and Maia contributed to sales but also led to one-time expenses.
3) Expectations for continued sales growth in 2012 through initiatives like store refurbishments, new openings, and reducing expenses. However, managing credit portfolio risks at Luizacred remains a focus.
FinSight - Exchange Traded Funds, the next game changer; Learnings from the g...South Asia Fast Track
Motilal Oswal Investor Relations FinSight article series - July 2012 - Exchange Traded Funds, the next game changer; Learnings from the global experience - Sourajit Aiyer
W. R. Berkley Corporation had an outstanding financial year in 2006. Net income per share reached a new high of $3.46, increasing 27% over 2005. Net premiums written grew 5% to $4.8 billion. The company's return on stockholders' equity exceeded 25% for the fourth consecutive year.
MST and Zenith Solar develop concentrated photovoltaic systems to efficiently generate solar electricity. Agam Energy develops highly efficient engine and HVAC technologies, including an engine that uses 1/5 the fuel and emits 1/10 the pollution of conventional engines. Bitum is a leading Israeli manufacturer of sealing and insulating products that has developed environmentally friendly construction materials.
Carfinco Financial Group Inc. is a uniquely positioned auto finance company that has delivered consistent 20% annual growth. It provides financing to "non-prime" credit customers through over 1,600 dealer partnerships across Canada. Carfinco has refined credit risk management practices and vertically integrated operations that have supported strong and growing financial returns, including impressive annual returns on equity of over 50%. The leadership team emphasizes continued growth and maintaining dividend payments.
Guo Xin is a senior partner and managing director at Mercer in Greater China, as well as the chairman of Marsh & McLennan Companies in China. He has expertise in strategic organization structure, business processes, and HR systems. His experience includes working with both local private/listed companies and multinationals in China and the US. Today's discussion will cover setting the scene in China, attracting and retaining top talent, ensuring compliance with local legislation, moving critical staff to China, and ensuring success in M&A expansion.
The document discusses India's growth story before and after economic liberalization in 1991. It describes how India moved from a closed socialist-inspired economy with high import duties and public sector dominance to a more open, privatized and globalized economy after 1991. This economic reform led to significantly higher GDP growth rates, especially in industry and agriculture. However, it also led to rising inequality within India and concerns about whether the benefits of growth are being shared widely enough. The document examines debates around whether globalization and financial liberalization increase or decrease inequality and the various factors that influence this relationship. It emphasizes the need for inclusive growth that broadly distributes the benefits of economic progress.
Magazine Luiza reported strong financial and operational performance in 2011. Some key highlights include:
1) Sales growth of 33.5% in 2011, driven by new store openings, same store sales growth of 16.5%, and e-commerce growth of 44.4%.
2) Integration of recent acquisitions like Baú and Maia contributed to sales but also led to one-time expenses.
3) Expectations for continued sales growth in 2012 through initiatives like store refurbishments, new openings, and reducing expenses. However, managing credit portfolio risks at Luizacred remains a focus.
The document summarizes the results of a public meeting for Santander. It discusses Santander's operations globally as the largest bank in Spain and Latin America, with a presence in over 40 countries and 169,000 employees worldwide. In Brazil specifically, Santander has seen significant growth and results, benefiting from Brazil's economic prowess and social developments like a growing middle class. Santander's Brazilian operations play an important role in the overall group.
Mutual funds and term deposits are discussed. A mutual fund pools money from investors and invests in securities like stocks and bonds. A term deposit is a fixed deposit held at a bank for a set period of time, ranging from 15 days to a few years. Benefits of mutual funds include affordability, professional management, risk reduction through diversification, and liquidity. Types of mutual funds and term deposits are also outlined. Returns of mutual funds are then compared to term deposit returns over 10 years, showing mutual funds providing higher returns on average. Factors for identifying the best performing mutual funds in a category are also listed.
This document summarizes the proposed combination of Bank of America and MBNA. It highlights that the combined company would have the largest credit card portfolio in the US and worldwide, with significant scale, revenue opportunities, and financial strength. The transaction values MBNA at a 29% premium to its market value and 12.5 times its estimated 2006 earnings. The combination is expected to be modestly dilutive to Bank of America's earnings in 2006 but accretive by 2% in 2007, once cost savings of $850 million are fully realized.
HSBC Holdings plc presented at the Morgan Stanley European Banks Conference in March 2006. The presentation discussed HSBC's strategic focus on growing its business in emerging markets and leveraging its international presence across 76 countries. It highlighted key metrics showing the bank's expanded global scale and changing geographic mix of profits over time.
Carfinco Financial Group Inc. is an auto finance company that provides loans to non-prime borrowers. The presentation discusses Carfinco's growing loan portfolio and revenues, increasing earnings per share, and impressive return on equity. Key highlights include a loan portfolio that has grown to $172.5 million, annualized revenues of $67.1 million, quarterly earnings per share of $0.19, and an annualized return on equity of 79.4%. The analysts cited have target share prices ranging from $10 to $12 and view Carfinco positively.
Carfinco Financial Group Inc. is an auto finance company that provides loans to non-prime borrowers. The presentation summarizes the company's consistent growth and profitability, analyst forecasts, competitive position in the Canadian market, and leadership team. Key highlights include a 20% annual growth in loan originations and portfolio size, 11 consecutive quarters of record earnings, and analyst price targets of $10-12 per share.
This document provides an agenda and overview of Cermaq's Capital Markets Day in 2012. It discusses Cermaq's two business units: EWOS, which produces salmonid feed with a 37% global market share, and Mainstream, the third largest global salmon farmer. In 2011, Cermaq had total revenues of NOK 8 billion and EBIT of NOK 1.369 billion. Cermaq aims to be a global leader in sustainable aquaculture and salmon/trout farming and feed production through profitable growth while maintaining strong operations and financial performance.
This document discusses securing early stage funding through venture capital. It provides an overview of how venture capital works, including that venture capital firms invest funds from limited partners. It also discusses the incentives for venture capitalists, including making profits upon an IPO or acquisition. Finally, it provides snapshots of current trends in venture-backed mergers and acquisitions and initial public offerings.
This document discusses securing early stage funding. It provides an overview of how venture capital works, including that venture capital firms invest funds from limited partners and aim to profit from IPOs or acquisitions within 10 years. It describes how to raise money by giving yourself options, creating scarcity, and raising funds when not needed. Examples are given of raising money from friends and family or venture capital firms. The document emphasizes matching the offer to funder needs and that raising venture capital requires demonstrating necessity while other options also exist.
The document discusses transforming India through education and vocational training. It outlines the purpose of education and focuses on areas like vocational education and training, governance, the economy, and employment generation. It notes India's high dropout rates, low literacy rates compared to countries like China, and emphasizes the need to focus on vocational skills training to generate employment and improve productivity. The document concludes by discussing eLearning and its potential role in improving access to education.
The document provides an overview of Bank of America's Global Corporate & Investment Banking division, including:
1) It combines the Global Business & Financial Services and Global Capital Markets & Investment Banking businesses.
2) For the first half of 2005, the combined business generated $10.2 billion in revenue.
3) The division aims to better serve clients through an integrated operating model and cross-selling opportunities across BofA.
This document provides an overview of capital markets and portfolio construction from Ferro Financial. It discusses the objectives of understanding capital markets, portfolio construction, diversification, and Ferro's investment philosophy. It defines the stock and bond markets, describing their sizes and complexities. It emphasizes the importance of diversifying among asset classes and within sectors to reduce risk and enhance returns. Modern portfolio theory aims to maximize returns for a given risk level by carefully selecting asset proportions. Successful long-term investing requires a disciplined strategy of diversification and maintaining a long-term view.
The document summarizes Ideiasnet's 3Q08 financial results. Key highlights include:
- Net revenue grew 17.7% to R$231.4 million in 3Q08 compared to 3Q07.
- EBITDA grew 64% to R$7.4 million in 3Q08 compared to 3Q07.
- The company invested R$10.1 million in its portfolio companies in 3Q08, including Bolsa de Mulher, Spring Wireless, and Automatos.
- At the end of 3Q08, Ideiasnet had a net credit position of R$2.6 million after being in a net debt position previously.
This document discusses the benefits of global investing and how to invest globally. It outlines that global markets now account for 50% of total stock market capitalization, so ignoring foreign markets means ignoring half of investment opportunities. Investing globally provides exposure to industries and companies outside the US as well as access to the fastest growing economies. While global investing carries special risks like currency fluctuations and political instability, diversifying across world markets has historically improved risk-adjusted returns. The document recommends investing globally through mutual funds for professional management and simplified transactions, and considering both developed and emerging international markets for long-term growth potential.
Nrf13 brasil varejo vencer na arena globalBrasil Varejo
The document provides information about strategies for thriving in the global retail arena. It discusses two main expansion strategies - expansion of mass market retailers into fast-developing countries and expansion of specialized retailers with strong brands. The document also notes that innovative concepts are needed to exceed customer expectations globally. It then outlines keys to success for global retailers, including having a clear strategy, listening to local customers, partnering with local talent, and executing well on real estate, systems, and marketing. Mango and Delhaize then share their perspectives and lessons learned from international expansion.
For more information contact: emailus@marcusevans.com
A presentation by Antje Biber, the Managing Partner at Feri Trust GmbH who presented on selection requirements for hedge funds at the Investment Consultant Summit, September 2012.
Join the 2014 Investments Summit along with leading regional investors in an intimate environment for a highly focused discussion on the latest investment strategies in the market.
For more information contact: emailus@marcusevans.com
Employment And Salary Trends In The Gulf 2012abdulhannan
The document provides an overview of employment trends in Gulf countries in 2012. It finds that Saudi Arabia led job creation in the Gulf while Bahrain saw the lowest growth. Nationalization continues to be a top priority for GCC governments and targets have intensified. The UAE and Qatar remain the most attractive destinations for expatriates, while Dubai is the most attractive city. Retention rates are highest in the UAE and lowest in Bahrain due to political tensions.
1. IGT has a wide economic moat in the gaming industry due to significant barriers to entry, pricing power, and recurring revenue streams.
2. The company has a history of strong profitability and returns on capital that exceed its cost of capital.
3. IGT trades at a discount to conservative estimates of intrinsic value, providing a margin of safety, and has growth prospects in international markets and new revenue streams.
Global Finance magazine in association with Merrill DataSite® presents the video webcast on Trends in Mergers and Acquisitions, which took place the Thursday, June 3rd at 11:00 a.m
The document discusses the benefits of meditation for reducing stress and anxiety. Regular meditation practice can help calm the mind and body by lowering heart rate and blood pressure. Making meditation a part of a daily routine, even if just 10-15 minutes per day, can offer improvements to mood, focus, and overall well-being over time.
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The document summarizes the results of a public meeting for Santander. It discusses Santander's operations globally as the largest bank in Spain and Latin America, with a presence in over 40 countries and 169,000 employees worldwide. In Brazil specifically, Santander has seen significant growth and results, benefiting from Brazil's economic prowess and social developments like a growing middle class. Santander's Brazilian operations play an important role in the overall group.
Mutual funds and term deposits are discussed. A mutual fund pools money from investors and invests in securities like stocks and bonds. A term deposit is a fixed deposit held at a bank for a set period of time, ranging from 15 days to a few years. Benefits of mutual funds include affordability, professional management, risk reduction through diversification, and liquidity. Types of mutual funds and term deposits are also outlined. Returns of mutual funds are then compared to term deposit returns over 10 years, showing mutual funds providing higher returns on average. Factors for identifying the best performing mutual funds in a category are also listed.
This document summarizes the proposed combination of Bank of America and MBNA. It highlights that the combined company would have the largest credit card portfolio in the US and worldwide, with significant scale, revenue opportunities, and financial strength. The transaction values MBNA at a 29% premium to its market value and 12.5 times its estimated 2006 earnings. The combination is expected to be modestly dilutive to Bank of America's earnings in 2006 but accretive by 2% in 2007, once cost savings of $850 million are fully realized.
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Carfinco Financial Group Inc. is an auto finance company that provides loans to non-prime borrowers. The presentation summarizes the company's consistent growth and profitability, analyst forecasts, competitive position in the Canadian market, and leadership team. Key highlights include a 20% annual growth in loan originations and portfolio size, 11 consecutive quarters of record earnings, and analyst price targets of $10-12 per share.
This document provides an agenda and overview of Cermaq's Capital Markets Day in 2012. It discusses Cermaq's two business units: EWOS, which produces salmonid feed with a 37% global market share, and Mainstream, the third largest global salmon farmer. In 2011, Cermaq had total revenues of NOK 8 billion and EBIT of NOK 1.369 billion. Cermaq aims to be a global leader in sustainable aquaculture and salmon/trout farming and feed production through profitable growth while maintaining strong operations and financial performance.
This document discusses securing early stage funding through venture capital. It provides an overview of how venture capital works, including that venture capital firms invest funds from limited partners. It also discusses the incentives for venture capitalists, including making profits upon an IPO or acquisition. Finally, it provides snapshots of current trends in venture-backed mergers and acquisitions and initial public offerings.
This document discusses securing early stage funding. It provides an overview of how venture capital works, including that venture capital firms invest funds from limited partners and aim to profit from IPOs or acquisitions within 10 years. It describes how to raise money by giving yourself options, creating scarcity, and raising funds when not needed. Examples are given of raising money from friends and family or venture capital firms. The document emphasizes matching the offer to funder needs and that raising venture capital requires demonstrating necessity while other options also exist.
The document discusses transforming India through education and vocational training. It outlines the purpose of education and focuses on areas like vocational education and training, governance, the economy, and employment generation. It notes India's high dropout rates, low literacy rates compared to countries like China, and emphasizes the need to focus on vocational skills training to generate employment and improve productivity. The document concludes by discussing eLearning and its potential role in improving access to education.
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This document discusses the benefits of global investing and how to invest globally. It outlines that global markets now account for 50% of total stock market capitalization, so ignoring foreign markets means ignoring half of investment opportunities. Investing globally provides exposure to industries and companies outside the US as well as access to the fastest growing economies. While global investing carries special risks like currency fluctuations and political instability, diversifying across world markets has historically improved risk-adjusted returns. The document recommends investing globally through mutual funds for professional management and simplified transactions, and considering both developed and emerging international markets for long-term growth potential.
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For more information contact: emailus@marcusevans.com
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Join the 2014 Investments Summit along with leading regional investors in an intimate environment for a highly focused discussion on the latest investment strategies in the market.
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3. IFC in the World Bank Group
The World Bank Group consists of five closely related institutions:
• IBRD: The International Bank for Reconstruction and Development
• IDA: The International Development Association
• IFC: International Finance Corporation
• MIGA: The Multilateral Investment Guarantee Agency
• ICSID: The International Center for the Settlement of Investment Disputes
Building Prosperity, Eradicating Poverty
3
4. IFC’s Structure
• Owned by 184 member countries
• IFC is the main driver of private sector development in the
World Bank Group
• Collaborates with other members of the group, including the
World Bank (IBRD and IDA, MIGA and the International
Centre for Settlement of Investment Disputes)
• Global: Headquartered in Washington, D.C.
• Local: More than 100 offices worldwide in 95 countries
4
5. IFC’s History
• Launched in 1956: 12 years after the Bretton Woods Conference
created the World Bank to finance post-WWII reconstruction and
development by lending to governments
• Original mandate: supporting development by encouraging private
investment (a new part of the global economic agenda)
• 1980s: IFC coins the term “emerging markets”
• 1990s: IFC increases in size, importance after fall of Berlin Wall
• Today: IFC is the world’s largest multilateral institution exclusively
focused on private sector development, widely seen as an essential
source of job creation, growth, and poverty reduction
5
6. IFC’s Three Businesses
IFC Asset
Investment Advisory
Management
Services Services Company
• Loans • Access to finance • Wholly owned
• Equity subsidiary of IFC
• Sustainable Business
• Trade finance • Private equity fund
• Investment Climate
manager
• Syndications • Public-Private
• Invests third-party
• Securitized finance Partnerships
capital alongside IFC
• Blended finance
$4.5 b
$56.5 b $200 m per under
portfolio year mgmt
6
7. Fiscal Year 2012 Highlights
• Investments: 576 new projects in 103 countries
• Advisory services: Nearly $200 million in program expenditures
• $20.3 billion in financing: $15.4 billion for IFC’s own account,
$4.9 billion mobilized
• $56.5 billion committed portfolio, representing investments in
1,825 firms
• IDA countries account for almost half of IFC projects overall:
$2.7 billion invested in Sub-Saharan Africa
7
9. Africa Rising
Continued strong growth
Africa seen as resilient, continued source of growth, with strong investment
opportunities amid sluggish growth in global economy
Fundamentals Remain Strong:
Improved macroeconomic management
Improving political stability/openness
Rising middle class; growing consumer markets
Favorable demographics
Reform momentum
December 3rd, 2011 Strong FDI inflows
Economic Growth Set to Remain Strong Inward FDI has returned to peak levels
Real GDP, average annual percent change 40 US$ bn 37.3 36.2 36.9
2012-17
35 30.0 6.4
Developing Asia 7.8% 29.5
30 13.7 11.0
SSA 5.5% 2.4 5.9
25 8.1
20.2 5.7
World 4.3% 17.1 5.6
20 6.8 8.5
14.5 6.4
CIS 4.2% 12.8 7.1 1.4 6.2 9.5
15 1.3 4.2
3.4 1.5 5.9 5.9
MENA 4.1% 10 4.0
3.4 2.8 16.1
LAC 4.0% 6.3 4.6 4.6 12.6 13.5 11.8
5 9.6
4.6 7.0
3.4% 3.5 3.2
Central & E… 0
Advanced… 2.3% 2003 2004 2005 2006 2007 2008 2009 2010 2011
0% 2% 4% 6% 8% West Africa Central Africa East Africa Southern Africa
9
10. Several key challenges to address to sustain growth and boost
shared prosperity
Inclusiveness
122m ppl to join African labor force through 2020*. Increase access to finance to
entrepreneurs & women, expand mobile solutions & vocational training
Food Insecurity
Urbanization places additional strain on food production. Raise agricultural
productivity
Infrastructure Gap
Main factor impeding competitiveness. Critical as urbanization accelerates. Expand
electricity and transport networks.
Investment Climate
Despite improvement, Africa still most difficult region in which to do business.
Promote enabling environment
Regional Integration & South-South Investment
Need to achieve economies of scale with better infrastructure, more global and
regional integration
Fragile Situations
Africa’s Fragile States risk becoming stuck in a low-level equilibrium trap
Climate Change
Need to tackle climate change impacts on water, agriculture, cities &
infrastructure.
* According to McKinsey, based on current trends, Africa will create 54 million stable wage-
paying jobs by 2020, leaving a gap of 68 million.
10
11. IFC targets transformational change through the private sector, in
close coordination with IDA and Development Partners
Core Strategic Pillars Additional Foci as Africa
Develops, Urbanizes
Fragile, poorest IDA
Vocational Training
Mobile Solutions
Climate Change
Food Security
Transform
Regional Integration
Encourage Key Sectors
Investment
Entreprene
Climate Infra, Agri,
South-South Investments urship
Health
E&S Standard Setting
Inclusion
Founded on Strong Collaboration with IDA, MIGA and Development Partners for Transformative Impact
11
12. Close proximity to our clients and strategic staffing
Regional Hubs
Mediterranean
Sea
Dakar INFRA
Johannesburg A2F/FM
Nairobi MAS/SBA
Local offices
Dakar Bamako
Ouagadougou N’Djamena
Abidjan Conakry Addis Ababa
Accra Freetown
Lagos
Addis Ababa Monrovia Abidjan Accra Bangui Juba
Antananarivo Douala
Bamako Nairobi INDIAN
Bangui Kigali OCEAN
Kinshasa Bujumbura
Bujumbura
Dar-es-Salaam
Conakry
ATLANTIC
Dar Es Salaam OCEAN
Douala
Freetown Lusaka
Juba Antananarivo
Kigali
Kinshasa
Johannesburg
Lagos Maputo
Lusaka IFC Hub Offices
Maputo IFC Country Offices
Monrovia
N’Djamena
Ouagadougou
12
13. Africa is a Key Strategic Priority for IFC
IFC makes major contribution to African private sector development
• Total Investment volume (IFC’s own account + mobilization) of record $4 billion in
FY12, with strong diversity across financial and other sectors
• Advisory Services add value to IFC investments
• Mobilizations become key part of IFC contribution to private sector development
• Focus on equity
Strong organization in place to drive continued growth and impact
• Strong field presence essential for successful operations in complex region
• Regional hubs with sector focus (Dakar, Nairobi, Johannesburg)
13
14. IFC’s Investment Teams Work Across Three Groups
IFC works with Financial Institutions to increase access to
finance, particularly for micro, small and medium-sized
Financial Markets (FM) enterprises (MSMEs) while deepening Africa’s local debt and
equity capital markets and crafting local currency finance
solutions.
IFC works with sponsors and governments and alongside World
Infrastructure & Natural Bank Group colleagues to deliver critical infrastructure
services in the power, transport, utilities, telecoms, media &
Resources (INR) technology and natural resources.
IFC works with clients to boost Africa’s manufacturing base,
strengthen food security through investments across the
Manufacturing, Agribusiness & agribusiness supply chain, expand access to vital health and
Services (MAS) education services, and foster strong tourism, retail and
property sectors.
14
18. IFC’s Experience and Approach: Agribusiness
IFC Offers Tackle Sector Constraints Invest Directly in Projects Support the Entire Value Chain
Solutions to
Sector development: land Short/medium term financial Short term financing through financial
Agri
fragmentation, low productivity & products: for key cash crops and intermediaries and traders/aggregators
Investors, regulatory disincentives critical agri commodities E+S, standards and capacity building for
Delivering Resource (water) use Long term funding: for capex in key Fis and firms/farms
Strong Key role of business environment large scale projects Inputs (fertilizer, seeds, crop protection)
Financial & PPP/Infra, WB to address sector Project development resources to distributor finance through FIs
Development infrastructure/logistics work with governments/ sponsors
Returns Inputs supply/import finance
Successful Track Record: Recent Agribusiness Investments in Africa
18
19. IFC’s Experience and Approach: Manufacturing
Several African economies are on the cusp of a structural transformation that is poised to lift
workers from lower productivity agriculture and the informal sector to wage-based employment in
higher-productivity manufacturing.
IFC is focused on supporting the African entrepreneur and regional producers expand production of
The Manufacturing and Consumer Goods on the continent, with 75-80% of IFC’s Manufacturing and
Opportunity Consumer Goods business is with local and regional clients.
IFC has deep local and international knowledge of key sectors, with a particular focus on cement,
steel, fertilizers / petrochemicals and fuel imports in Africa.
Driven by falling relative labor costs, opening up new opportunities in export-oriented light
manufacturing
Challenges include poor infrastructure, education, trade logistics, electricity and access to finance
Successful Track Record: Recent Manufacturing & Consumer Goods Investments in Africa
Africa Region South Africa South Africa Uganda Africa Region
Sierra Leone
Vitafoam Sierra Leone Safal Group SRF South Africa Marico South Africa Roofings Rolling Mills Heidelberg Africa
Equity: $ 110,000,000
A-Loan: $ 2,900,000 A-Loan: $15,000,000 A-Loan: $ 20,000,000 A-Loan: $ 5,000,000 A-Loan: $ 24,000,000 AMC Mobilization:
$28,000,000
Lender Lender Lender
Lender Lender Shareholder
October 2011 November 2011 May 2010
July 2012 February 2011 March 2010
20. IFC’s Experience and Approach : Power & Utilities
IFC Offers Solutions to Power Sector Investors, Delivering Strong Financial and Development Returns
IFC takes a multi-pronged, solutions-oriented approach to accelerate private sector investment in the
power & utilities sector in Africa, partnering with World Bank colleagues and development partners:
IFC Investment: Long-term debt and equity financing for infrastructure projects
IFC Infraventures: Early stage risk capital for infrastructure project development
World Bank/IDA/PPIAF/MIGA: Sector reform, PPP enabling environment, PCGs, PRGs, PRI
Successful Track Record: Recent IFC Power & Utilities Investments in Africa
20
21. IFC’s Experience and Approach: Tourism, Retail & Property
IFC Offers Solutions to TRP Investors, Delivering Strong Financial and Development Returns
Provide long-term financing where institutional capital is scarce
•
Share global/regional sector knowledge, best practices, strengthen operational standards
•
Promote and facilitate improvements in E&S and Green Building standards
Tourism Retail
Leverages IFC network to connect clients to build Focus: Food/Grocery retail outlets in key urban cities
on sector expertise. with supply/demand gap with focus on low income
Provide long-term financing with long grace period segment
matching the often long development phase and Global Trade Supplier Finance (GTSF), a recent addition
long payback period mostly not readily available to IFC’s short term trade finance programs to provide
Demonstration effects can be shown by raising the short term financing for open-account trade for emerging
standards of the hotel sector in a given destination, market firms/exporters
with respect to physical product, service standards IFC Advisory Services Food Safety Program to implement
and knowledge transfer (via training). food safety management systems
Successful Track Record: Recent Tourism, Retail & Property Investments in Africa
Africa Region Nigeria Ghana Rwanda Ghana Kenya
Actis Africa Real Estate Persianas Group Market Shopping
Fund II A&C Mixed Use Centre Kigali Kingdom Hotel
A-Loan: $ 50,000,000 Investments TPS East Africa
Equity: $ 37,000,000
A-Loan: $ 10,000,000 A-Loan: $ 20,000,000
Equity: $ 25,000,000 AMC Mobilization: A-Loan: $ 4,400,000 A-Loan: $ 1,300,000
Equity: $ 3,000,000 B-Loan: $6,000,000
$29,600,000
Shareholder Shareholder & Lender Lender Lender & Shareholder Lender & Arranger Lender
May 2011 June 2012 June 2012 June 2011 Feb 2011 July 2010
21
22. IFC’s Experience and Approach: Transport & Logistics
IFC Offers Solutions to Trans. & Log. Investors, Delivering Strong Financial and Development Returns
IFC takes a multi-pronged approach, leveraging its institutional reach through the WBG:
IFC Investment: Long-term debt and equity financing for infrastructure projects
IFC Infraventures: Early stage risk capital for infrastructure project development
World Bank/IDA/PPIAF/MIGA: Sector reform, PPP enabling environment, PCGs, PRGs, PRI
Successful Track Record: Recent Transport & Logistics Investments in Africa
22
23. Some Recent IFC-Supported EM Deals in Africa
Industry FY Sponsor Project IFC $m Host Origin
FY 13 TICO IPP $80 m Ghana UAE
FY 12 Thika IPP $37 m Kenya Lebanon
Infrastructure and
FY 11 Leo Burundi $25 m Burundi Egypt
Natural Resources
FY 11 MAGERWA $3 m Rwanda Singapore
FY 10 Zain Distributors $6 m Malawi Kuwait
FY 13 SRF $20 m South Africa India
FY 13 Indorama Eleme $150 m Nigeria Indonesia
Manufacturing and
FY 11 Apollo Tyres $11 m South Africa India
Services
Saudi
FY 11 Kingdom Hotels $26 m Ghana
Arabia
FY 10 MNF House $10 m Tanzania China
FY 12 Saham Finances $35 m Africa Region Morocco
Financial Markets Kenya,
Madagascar,
FY 11 Bank of Africa $9 m Tanzania,
Morocco
Uganda
23
24. Sample of IFC Investment Partners in FY12 in Africa
Infrastructure
Natural
Resources
Agribusiness
Agribusiness
Manufacturing
& Services
Financial
Markets &
Funds
24
26. How We Finance Projects
•Project Type •IFC Investment
•Greenfield, total cost •Up to 35% of project cost
less than $50 million for IFC’s account
•Greenfield, total cost •Up to 25% of project cost
more than $50 million for IFC’s account
•Expansion or rehabilitation •Up to 50% of project cost
•Umbrella for participants in IFC’s syndication program: IFC lender of
record, immunity from taxation and provisioning requirements.
•IFC’s total financing (for its own account) must be less than 25% of total
company capitalization, and IFC does not manage or have largest stake.
26
27. Financial Products - From Equity to Debt
• Corporate and JV
• Typically 5-15% shareholding (not to exceed 20% of total equity)
Equity
• Long-term investor, typically 6-8 year holding period
• Not just financial investor, adding to shareholder value
• Usually no seat on board
• Subordinated loans
Mezzanine / • Income participating loans
Quasi Equity • Convertibles
• Other hybrid instruments
• Senior Debt (corporate finance, project finance)
• Fixed/floating rates, US$, Euro and local currencies available
• Commercial rates, repayment tailored to project/company needs
Senior Debt • Long maturities: 8-20 years, appropriate grace periods
• Range of security packages suited to project/country
& Equivalents • Mobilization of funds from other lenders and investors, through
cofinancings, syndications, underwritings and guarantees
27
28. IFC’s Value Added
•Long Term Financing
•Corporate / Project /
Acquisition
Industry knowledge • Foreign / Local currencies
• Equity / Quasi-equity
• Carbon Finance
Relationship with /
understanding of IFC’s Products • Capital Mobilization
local authorities • B loan program
• Credit enhancement (Partial
Credit Guarantee)
Expertise in • Pre-IPO stamp of approval
emerging markets
•Advisory Services
28
29. IFC Customer Profile:
Multinationals, Regional and Local
What is important about IFC to a company, by size and location
What IFC brings to an investment Multinational Regional Local
Quality stamp of approval
Country risk mitigation
Exposure to country risk volatility
Good contacts/knowledge
Competitive cost
Always
Long tenors
Often
Access to local currency funding
Sometimes
Complementary funding source
29