Created in March 2015, Nelion Partners is an Investment Platform, domiciled in Seychelles, providing more than 65 local and international investors with an exposure to various assets classes across Africa:
(i) Listed Equities on African major stock exchange
(ii) Real Estate properties with a focus on site-and-service developments
(iii) Private Equity investments in early stage and high growth business models (focus on Education, Financial Service, Agribusiness, Retail, Healthcare and FMCG)
The document describes the Ashton Global Africa Frontiers Fund, a multi-strategy fund focused on niche investment opportunities in East Africa, especially Kenya, managed by Joel Mwaura. The fund seeks undervalued income generating assets across sectors like infrastructure, agriculture, education and real estate to capitalize on growth opportunities from Africa's rising middle class and expanding economies. Rigorous due diligence and risk mitigation practices are employed to identify attractive small and mid-cap companies trading below value.
Foreign direct investment (FDI) can benefit Pakistan's economy by bringing growth, jobs, technology and market access. Pakistan actively seeks to attract more FDI due to a lack of domestic capital and financing. Pakistan offers liberal investment policies including allowing full foreign ownership, easy profit repatriation and tax incentives. Key sectors attracting FDI include energy, agriculture, mining and transportation. The government has introduced special economic zones and reforms to further encourage investment by improving infrastructure, reducing business costs and facilitating investors. Increased FDI would boost Pakistan's economic development by generating employment and income growth.
Rwanda has experienced strong and sustained economic growth in recent years, with GDP growth averaging 7.1% annually since 2004. The government has implemented policies to make Rwanda an attractive destination for foreign direct investment through political stability, a pro-business environment, and a focus on key sectors like infrastructure, agriculture, energy and tourism. Rwanda also provides access to the large and growing East African market through its membership in the East African Community. The Rwandan government and the Rwanda Development Board are committed to continued economic reforms and investment promotion to build on Rwanda's success and untapped potential for growth.
Political Institutions and Macroeconomic Outcomes in Arab Oil-Rich Economies ...Economic Research Forum
Adeel Malik, University of Oxford
ERF and AFESD conference on: Monetary and Fiscal Institutions in Resource-Rich Arab Economies
Kuwait, November 4-5, 2015
For more info, please visit www.erf.org.eg
Opening Session
While commodity volatility affects economic performance and could be associated with multiple economic ills and lack of economic development, only part of the answer lies in economics. The keynote speech will provide a political economy perspective on why some countries are able to develop resilient institutional structures, while others are not, focusing on the nature of underlying institutions in resource-rich Arab economies.
Final project unlocking investment & finance in emerging markets and develo...Damian Attah
National Financing Strategy for Nigeria to Access Additional Sources of Finance for its Development
Nigeria requires an estimated $3 trillion by 2044 to meet its infrastructure needs but generates only $16.55 billion in annual revenue, leaving a large financing gap. The strategy proposes leveraging development partners and private investment through public-private partnerships. It recommends reforms like tax increases, export diversification, and transparency to boost domestic resources and attract foreign financing. Nigeria will work with multilateral banks by strengthening private-public collaboration, issuing sovereign bonds, improving resource mobilization and governance, and integrating sustainability into its financial system to address barriers to accessing funds.
This document discusses issues around domestic resource mobilization in Africa. It notes that while Africa has experienced strong economic growth, mobilizing domestic resources is important for sustainability and reducing volatility. Key challenges to domestic resource mobilization include low tax collection rates, an informal sector that is difficult to tax, and illicit financial flows estimated to cost Africa $854 billion between 1970-2008. The document examines specific issues around domestic savings, financial markets, taxation, and governance and planning challenges that have hindered fully exploiting domestic resources for development.
The document describes the Ashton Global Africa Frontiers Fund, a multi-strategy fund focused on niche investment opportunities in East Africa, especially Kenya, managed by Joel Mwaura. The fund seeks undervalued income generating assets across sectors like infrastructure, agriculture, education and real estate to capitalize on growth opportunities from Africa's rising middle class and expanding economies. Rigorous due diligence and risk mitigation practices are employed to identify attractive small and mid-cap companies trading below value.
Foreign direct investment (FDI) can benefit Pakistan's economy by bringing growth, jobs, technology and market access. Pakistan actively seeks to attract more FDI due to a lack of domestic capital and financing. Pakistan offers liberal investment policies including allowing full foreign ownership, easy profit repatriation and tax incentives. Key sectors attracting FDI include energy, agriculture, mining and transportation. The government has introduced special economic zones and reforms to further encourage investment by improving infrastructure, reducing business costs and facilitating investors. Increased FDI would boost Pakistan's economic development by generating employment and income growth.
Rwanda has experienced strong and sustained economic growth in recent years, with GDP growth averaging 7.1% annually since 2004. The government has implemented policies to make Rwanda an attractive destination for foreign direct investment through political stability, a pro-business environment, and a focus on key sectors like infrastructure, agriculture, energy and tourism. Rwanda also provides access to the large and growing East African market through its membership in the East African Community. The Rwandan government and the Rwanda Development Board are committed to continued economic reforms and investment promotion to build on Rwanda's success and untapped potential for growth.
Political Institutions and Macroeconomic Outcomes in Arab Oil-Rich Economies ...Economic Research Forum
Adeel Malik, University of Oxford
ERF and AFESD conference on: Monetary and Fiscal Institutions in Resource-Rich Arab Economies
Kuwait, November 4-5, 2015
For more info, please visit www.erf.org.eg
Opening Session
While commodity volatility affects economic performance and could be associated with multiple economic ills and lack of economic development, only part of the answer lies in economics. The keynote speech will provide a political economy perspective on why some countries are able to develop resilient institutional structures, while others are not, focusing on the nature of underlying institutions in resource-rich Arab economies.
Final project unlocking investment & finance in emerging markets and develo...Damian Attah
National Financing Strategy for Nigeria to Access Additional Sources of Finance for its Development
Nigeria requires an estimated $3 trillion by 2044 to meet its infrastructure needs but generates only $16.55 billion in annual revenue, leaving a large financing gap. The strategy proposes leveraging development partners and private investment through public-private partnerships. It recommends reforms like tax increases, export diversification, and transparency to boost domestic resources and attract foreign financing. Nigeria will work with multilateral banks by strengthening private-public collaboration, issuing sovereign bonds, improving resource mobilization and governance, and integrating sustainability into its financial system to address barriers to accessing funds.
This document discusses issues around domestic resource mobilization in Africa. It notes that while Africa has experienced strong economic growth, mobilizing domestic resources is important for sustainability and reducing volatility. Key challenges to domestic resource mobilization include low tax collection rates, an informal sector that is difficult to tax, and illicit financial flows estimated to cost Africa $854 billion between 1970-2008. The document examines specific issues around domestic savings, financial markets, taxation, and governance and planning challenges that have hindered fully exploiting domestic resources for development.
GCC Currency Union: Necessary Precursors and Prospects - Emilie J. RutledgeEconomic Research Forum
Emilie J. Rutledge, United Arab Emirates University
ERF and AFESD conference on: Monetary and Fiscal Institutions in Resource-Rich Arab Economies
Kuwait, November 4-5, 2015
For more info, please visit www.erf.org.eg
Session on: Central Bank Independence and Institutional Reforms
Optimal monetary policy response to commodity price shocks requires the presence of credible and strong institutions, which are often absent in resource-rich Arab economies. It also requires clarity about central bank versus government objectives and clear institutional arrangements about the role of each. Among the ways to achieve credibility and instill a clear division of policy responsibilities is to promote central bank independence (CBI). This section aims to examine the independence of monetary institutions in several Arab resource-rich economies as well as other institutional reform required for an effective and well-functioning GCC currency union.
I’m a young Pakistani Blogger, Academic Writer, Freelancer, Quaidian & MPhil Scholar, Quote Lover, Co-Founder at Essar Student Fund & Blueprism Academia, belonging from Mehdiabad, Skardu, Gilgit Baltistan, Pakistan.
I am an academic writer & freelancer! I can work on Research Paper, Thesis Writing, Academic Research, Research Project, Proposals, Assignments, Business Plans, and Case study research.
Expertise:
Management Sciences, Business Management, Marketing, HRM, Banking, Business Marketing, Corporate Finance, International Business Management
For Order Online:
Whatsapp: +923452502478
Portfolio Link: https://blueprismacademia.wordpress.com/
Email: arguni.hasnain@gmail.com
Follow Me:
Linkedin: arguni_hasnain
Instagram : arguni.hasnain
Facebook: arguni.hasnain
The Kenya Budget Statement for the Fiscal Year 2016/2017
was presented to Rev. Mutava Musyimi, the Chairman of the
Budget and Appropriation Committee of the National Assembly,
by Mr. Henry K. Rotich, Cabinet Secretary for Finance on
8th June 2016 under the theme “Consolidating Gains for a
prosperous Kenya.”
The Impact of Investment on Nigeria Economy 1970 – 2012iosrjce
Foreign direct investment has impacted Nigeria's economy from 1970 to 2012. The study found that foreign investment leads to economic growth in Nigeria through technology transfers and skills development. Lower inflation, good infrastructure, political stability, and reduced corruption can attract more foreign investment and help Nigeria realize greater economic benefits. The key recommendation is for Nigeria to improve infrastructure and policies to create a better business environment to stimulate growth through foreign investment inflows.
The document provides an analysis of Singapore's macroeconomy including GDP, monetary policy, inflation, stock market, loans, real estate, and R&D. It finds that Singapore's GDP recovered in Q3 2020 after declines in Q1-Q2 due to COVID-19. Inflation is expected to rise. The stock market and real estate market have been stable. It recommends companies establish R&D labs in Singapore and financial institutions offer more mortgage loans.
This document provides an overview of key facts about doing business in Kuwait. It discusses Kuwait's economy, growth drivers, business environment, tax system, strategic location, human capital, and sectors with investment opportunities. The summaries highlight Kuwait's young and educated workforce, 100% foreign ownership allowed, competitive tax rates and costs, investment grade credit ratings, and sizable infrastructure investment program and project pipeline.
Evidence on the Dynamic Relationship between Stock Market All Share Index and...iosrjce
This study examines the dynamic relationship between Stock Market All Share Index and Gross Fixed
Capital Formation in Nigeria. Annual data on market capitalization, value of shares traded, all share index,
average prime lending rate, inflation rate, national savings and gross fixed capital formation at current
purchaser’s value from 1980 to 2012 were sourced from the statistical bulletin of the Central Bank of Nigeria
and the Nigerian Stock Exchange Fact Book various issues. The ordinary least square (OLS) regression
technique was employed in the data analysis and the error correction mechanism (ECM) was used to study the
short-run dynamics as well as long-run relationship between the stock market and gross fixed capital formation
in Nigeria. The result revealed that all share index of the Nigerian stock market has significant effect on gross
fixed capital formation. It further shows that though the capital market has the potential of influencing gross
fixed capital formation its’ effect has not been fully realized due to illiquidity and low level of development of
the Nigerian capital market. It is recommended that appropriate policy measures been taken to deepen the
market and strengthen the structure of the market to ensure that long term funds are used to finance long-term
investments.
El Kahera Housing & Development Initiation of CoverageAhmed Ramadan
The document provides an initiation of coverage report on El Kahera Housing & Development by OKAZ Research. The report includes a valuation of the company, a SWOT analysis, overview of the Egyptian real estate sector, El Kahera's projects and land bank, financial analysis of fiscal year 2013 results, and a recommendation to hold the stock. OKAZ Research values El Kahera at EGP 9.65 per share and issues a hold recommendation based on a 2% total expected return from a 4% dividend yield offsetting 2% downside risk.
Nigeria has proposed strategies to fund infrastructural development and attract additional capital. The country's GDP grew from 2.11% in 2017 to 2.38% in 2018. To bridge funding gaps and develop infrastructure for its 190 million people, Nigeria created the Millennium Infrastructure Development Fund (MIDF) financed by government budgets, banks, and private investors. MIDF will fund priority projects in transportation, power and telecommunications to increase GDP growth. Nigeria plans to issue infrastructure bonds and seek guarantees from multilateral agencies to improve credit ratings and mitigate political risks, attracting more foreign investment. Toll collection and technology will also be used to ensure sufficient revenues for bond repayments.
India has emerged as an attractive destination for foreign direct investment, especially in the services sector. However, it
has failed to become a major manufacturing hub, which could provide greater economic benefits. While FDI is an
important source of financing economic development, it is not a solution for issues like poverty, unemployment, and other
economic problems. To achieve its goals and attract more FDI, India needs a consistent long-term development strategy
and transparency in policymaking.
This document discusses various aspects of globalization including definitions, features, positive and negative effects, challenges, and the roles of international organizations like IMF, World Bank, WTO, MNCs, and differences between FDI and portfolio investment. It provides country-specific examples regarding globalization in India and its impact. International coordination and management are needed to maximize globalization's benefits and minimize its risks.
Performing Online Survey’s “An Added Advantage” Over Advertisementijtsrd
In this article we try to study about the importance of performing surveys and they have an added advantage over advertisement. In earlier years manual surveys were done often door to door but off late surveys are being done online all over the world. Most of the nations conduct online surveys and use this as a great strategy to create good products and provide good services to the people and avoid spending heavily on advertisements. Surveys offer many benefits and therefore have become famous for their convenience, comfort and accurate feedback from the consumers. This article is based on the recent trends observed in various sectors where surveys are done and advertisements are offered to the consumer. After doing the marketing research by the companies and the changes in consumer behaviour observed the following conclusion is drawn. Dr. Mamta Bansal | Mr. Mandeep Narang "Performing Online Survey’s “An Added Advantage” Over Advertisement" Published in International Journal of Trend in Scientific Research and Development (ijtsrd), ISSN: 2456-6470, Volume-5 | Issue-2 , February 2021, URL: https://www.ijtsrd.com/papers/ijtsrd38607.pdf Paper Url: https://www.ijtsrd.com/management/marketing/38607/performing-online-survey’s-“an-added-advantage”-over-advertisement/dr-mamta-bansal
The document summarizes India's foreign investment policy and the role of foreign capital in India. It discusses how India liberalized its foreign investment policies after 1991 to allow 100% foreign ownership in many sectors. It outlines the advantages of foreign capital such as economic development, job creation, and access to new technologies. However, it also notes disadvantages like risk from political changes, impact on exchange rates, and increased foreign dependence. The document provides an overview of India's historical approach to foreign investment dating back to policies established by Nehru and changes over time.
The document summarizes key findings from the Islamic Finance Development Report 2019. It finds that global Islamic finance assets grew to $2.5 trillion in 2018, a 3% increase, with slower growth seen in leading markets due to economic sluggishness. Malaysia, Bahrain and the UAE continued to lead in overall Islamic finance development according to the Islamic Finance Development Indicator (IFDI), which assesses 57 countries across quantitative, knowledge, governance, CSR and awareness factors. Sukuk issuance grew strongly at 10% while other sectors saw weaker growth. Governments continued supporting industry expansion through new regulations and education initiatives.
Impact of Foreign Direct Investments on Domestic Investments in Nigeriaijtsrd
This study examines the impact of foreign direct investments on domestic investments in Nigeria. Specifically, the study seeks to ascertain the effect of foreign direct investment, per capita income, consumption expenditure, savings and debt burden on domestic investments in Nigeria using an inferential statistic like the regression analysis after determining stationarity of the variables using the ADF Statistic, as well as the cointegration of variables using the Johansen approach. Findings revealed that foreign direct investment, per capita income, consumption expenditure, savings, interest rate and debt burden are statistically significant in explaining domestic investment in Nigeria. The F test conducted in the study shows that the model has a goodness of fit and is statistically different from zero. In other words, there is a significant impact between the dependent and independent variables in the model. The study therefore recommends that There is need for government to formulate investment policies that will be favourable to local investors in order to complement the inflow of investment from abroad. Government should provide adequate infrastructure and policy framework that will be conducive for doing business in Nigeria, so as to attract the inflow of FDI. Policies that would improve per capita income of Nigeria should be pursued as this will stabilize and accelerate the rate of investment in Nigeria. Anionwu, Carol "Impact of Foreign Direct Investments on Domestic Investments in Nigeria" Published in International Journal of Trend in Scientific Research and Development (ijtsrd), ISSN: 2456-6470, Volume-3 | Issue-5 , August 2019, URL: https://www.ijtsrd.com/papers/ijtsrd26725.pdfPaper URL: https://www.ijtsrd.com/management/accounting-and-finance/26725/impact-of-foreign-direct-investments-on-domestic-investments-in-nigeria/anionwu-carol
Abstract: Nigeria is one of the economies with great demand for goods and services and has attracted some foreign direct investment over the years. The amount of foreign direct investment inflow in to Nigeria has reached US $ 2.23 billion in 2003 and it rose to US $ 5.31 billion in 2004 (a 138 % increase), this figure rose again to US $ 9.92 billion (an 87% increase) in 2005. The figure however declined slightly to US $ 9.44 in 2006 while it has been on astronomical fall since 2006 till date. (CBN, 2011). The question that comes to mind is, do these for actually contribute to economic growth in Nigeria? If foreign direct investment actually contribute to growth, then, the sustainability of foreign direct investment is a worthwhile activity and a way of achieving this sustainability is by identifying the factors contributing to its growth with a view to ensuring its enhancement. The nose driving this research is to determine the short run impact of FDI on economic growth, OLS with ward test analysis was employed to determine the short run analysis of impact of FDI on economic growth. The result shows that all the explanatory variables such as Gross Fixed capital formation (GFCF), Total labour force (TLBF), Foreign Direct Investment (FDI) Lending rate and Average Manufacturing Capacity Utilization (AMCU) grossly affect economic growth in Nigeria. The result also implies that there exist a singleton (short run) impact of FDI on economic growth, recommendation was made that government must put in place all the pull factors such as good road, stable power supply and most essentially security of life and property of foreign investors in order to reduce the level of unemployment which serves as impediment to sustainable development in the Nation Nigeria.
The document summarizes budgets from Lesotho, Namibia, and Swaziland. Key points:
- Lesotho's budget projects government expenditure to increase 7.6% to M15.4 billion, with M10.4 billion for recurrent spending and M5 billion for capital projects. It aims to reduce reliance on volatile SACU revenue and improve the investment climate.
- Namibia's budget forecasts the deficit to narrow to 5.4% of GDP and GDP growth to average 5%. Government expenditure is set to rise 26.7% to N$60.28 billion, with 79.6% for operational costs.
- The budgets overall aim to diversify revenues amid uncertainty over
The document discusses private equity investment in Africa. It notes that private equity firms seeking exposure to sub-Saharan Africa's high growth markets have been one of the key drivers of M&A activity on the continent over the past five years. According to reports, sub-Saharan Africa attracted $3.2 billion in private equity investment in 2013, up from $1.6 billion in 2012, making Africa the most popular investment destination globally for private equity firms ahead of Brazil, Russia, India and China. The trend of increasing private equity investment flows into Africa is expected to continue gaining momentum in the medium to long term.
The document provides an overview of capital markets activity in Africa in 2015. Some key points:
- 2015 saw 28 IPOs and 91 FOs on African exchanges, representing the highest levels of equity capital markets activity over the past 5 years. The total capital raised through IPOs and FOs in 2015 was $12.7 billion.
- Debt markets activity in Africa declined in 2015 from previous years, with 47 corporate and sovereign debt issuances raising $19.3 billion, down from peaks in 2012-2013. Sovereign bonds dominated the debt markets.
- Technical advances and regulatory harmonization across African stock exchanges have improved market size, liquidity, and efficiency in recent years. However, some
GCC Currency Union: Necessary Precursors and Prospects - Emilie J. RutledgeEconomic Research Forum
Emilie J. Rutledge, United Arab Emirates University
ERF and AFESD conference on: Monetary and Fiscal Institutions in Resource-Rich Arab Economies
Kuwait, November 4-5, 2015
For more info, please visit www.erf.org.eg
Session on: Central Bank Independence and Institutional Reforms
Optimal monetary policy response to commodity price shocks requires the presence of credible and strong institutions, which are often absent in resource-rich Arab economies. It also requires clarity about central bank versus government objectives and clear institutional arrangements about the role of each. Among the ways to achieve credibility and instill a clear division of policy responsibilities is to promote central bank independence (CBI). This section aims to examine the independence of monetary institutions in several Arab resource-rich economies as well as other institutional reform required for an effective and well-functioning GCC currency union.
I’m a young Pakistani Blogger, Academic Writer, Freelancer, Quaidian & MPhil Scholar, Quote Lover, Co-Founder at Essar Student Fund & Blueprism Academia, belonging from Mehdiabad, Skardu, Gilgit Baltistan, Pakistan.
I am an academic writer & freelancer! I can work on Research Paper, Thesis Writing, Academic Research, Research Project, Proposals, Assignments, Business Plans, and Case study research.
Expertise:
Management Sciences, Business Management, Marketing, HRM, Banking, Business Marketing, Corporate Finance, International Business Management
For Order Online:
Whatsapp: +923452502478
Portfolio Link: https://blueprismacademia.wordpress.com/
Email: arguni.hasnain@gmail.com
Follow Me:
Linkedin: arguni_hasnain
Instagram : arguni.hasnain
Facebook: arguni.hasnain
The Kenya Budget Statement for the Fiscal Year 2016/2017
was presented to Rev. Mutava Musyimi, the Chairman of the
Budget and Appropriation Committee of the National Assembly,
by Mr. Henry K. Rotich, Cabinet Secretary for Finance on
8th June 2016 under the theme “Consolidating Gains for a
prosperous Kenya.”
The Impact of Investment on Nigeria Economy 1970 – 2012iosrjce
Foreign direct investment has impacted Nigeria's economy from 1970 to 2012. The study found that foreign investment leads to economic growth in Nigeria through technology transfers and skills development. Lower inflation, good infrastructure, political stability, and reduced corruption can attract more foreign investment and help Nigeria realize greater economic benefits. The key recommendation is for Nigeria to improve infrastructure and policies to create a better business environment to stimulate growth through foreign investment inflows.
The document provides an analysis of Singapore's macroeconomy including GDP, monetary policy, inflation, stock market, loans, real estate, and R&D. It finds that Singapore's GDP recovered in Q3 2020 after declines in Q1-Q2 due to COVID-19. Inflation is expected to rise. The stock market and real estate market have been stable. It recommends companies establish R&D labs in Singapore and financial institutions offer more mortgage loans.
This document provides an overview of key facts about doing business in Kuwait. It discusses Kuwait's economy, growth drivers, business environment, tax system, strategic location, human capital, and sectors with investment opportunities. The summaries highlight Kuwait's young and educated workforce, 100% foreign ownership allowed, competitive tax rates and costs, investment grade credit ratings, and sizable infrastructure investment program and project pipeline.
Evidence on the Dynamic Relationship between Stock Market All Share Index and...iosrjce
This study examines the dynamic relationship between Stock Market All Share Index and Gross Fixed
Capital Formation in Nigeria. Annual data on market capitalization, value of shares traded, all share index,
average prime lending rate, inflation rate, national savings and gross fixed capital formation at current
purchaser’s value from 1980 to 2012 were sourced from the statistical bulletin of the Central Bank of Nigeria
and the Nigerian Stock Exchange Fact Book various issues. The ordinary least square (OLS) regression
technique was employed in the data analysis and the error correction mechanism (ECM) was used to study the
short-run dynamics as well as long-run relationship between the stock market and gross fixed capital formation
in Nigeria. The result revealed that all share index of the Nigerian stock market has significant effect on gross
fixed capital formation. It further shows that though the capital market has the potential of influencing gross
fixed capital formation its’ effect has not been fully realized due to illiquidity and low level of development of
the Nigerian capital market. It is recommended that appropriate policy measures been taken to deepen the
market and strengthen the structure of the market to ensure that long term funds are used to finance long-term
investments.
El Kahera Housing & Development Initiation of CoverageAhmed Ramadan
The document provides an initiation of coverage report on El Kahera Housing & Development by OKAZ Research. The report includes a valuation of the company, a SWOT analysis, overview of the Egyptian real estate sector, El Kahera's projects and land bank, financial analysis of fiscal year 2013 results, and a recommendation to hold the stock. OKAZ Research values El Kahera at EGP 9.65 per share and issues a hold recommendation based on a 2% total expected return from a 4% dividend yield offsetting 2% downside risk.
Nigeria has proposed strategies to fund infrastructural development and attract additional capital. The country's GDP grew from 2.11% in 2017 to 2.38% in 2018. To bridge funding gaps and develop infrastructure for its 190 million people, Nigeria created the Millennium Infrastructure Development Fund (MIDF) financed by government budgets, banks, and private investors. MIDF will fund priority projects in transportation, power and telecommunications to increase GDP growth. Nigeria plans to issue infrastructure bonds and seek guarantees from multilateral agencies to improve credit ratings and mitigate political risks, attracting more foreign investment. Toll collection and technology will also be used to ensure sufficient revenues for bond repayments.
India has emerged as an attractive destination for foreign direct investment, especially in the services sector. However, it
has failed to become a major manufacturing hub, which could provide greater economic benefits. While FDI is an
important source of financing economic development, it is not a solution for issues like poverty, unemployment, and other
economic problems. To achieve its goals and attract more FDI, India needs a consistent long-term development strategy
and transparency in policymaking.
This document discusses various aspects of globalization including definitions, features, positive and negative effects, challenges, and the roles of international organizations like IMF, World Bank, WTO, MNCs, and differences between FDI and portfolio investment. It provides country-specific examples regarding globalization in India and its impact. International coordination and management are needed to maximize globalization's benefits and minimize its risks.
Performing Online Survey’s “An Added Advantage” Over Advertisementijtsrd
In this article we try to study about the importance of performing surveys and they have an added advantage over advertisement. In earlier years manual surveys were done often door to door but off late surveys are being done online all over the world. Most of the nations conduct online surveys and use this as a great strategy to create good products and provide good services to the people and avoid spending heavily on advertisements. Surveys offer many benefits and therefore have become famous for their convenience, comfort and accurate feedback from the consumers. This article is based on the recent trends observed in various sectors where surveys are done and advertisements are offered to the consumer. After doing the marketing research by the companies and the changes in consumer behaviour observed the following conclusion is drawn. Dr. Mamta Bansal | Mr. Mandeep Narang "Performing Online Survey’s “An Added Advantage” Over Advertisement" Published in International Journal of Trend in Scientific Research and Development (ijtsrd), ISSN: 2456-6470, Volume-5 | Issue-2 , February 2021, URL: https://www.ijtsrd.com/papers/ijtsrd38607.pdf Paper Url: https://www.ijtsrd.com/management/marketing/38607/performing-online-survey’s-“an-added-advantage”-over-advertisement/dr-mamta-bansal
The document summarizes India's foreign investment policy and the role of foreign capital in India. It discusses how India liberalized its foreign investment policies after 1991 to allow 100% foreign ownership in many sectors. It outlines the advantages of foreign capital such as economic development, job creation, and access to new technologies. However, it also notes disadvantages like risk from political changes, impact on exchange rates, and increased foreign dependence. The document provides an overview of India's historical approach to foreign investment dating back to policies established by Nehru and changes over time.
The document summarizes key findings from the Islamic Finance Development Report 2019. It finds that global Islamic finance assets grew to $2.5 trillion in 2018, a 3% increase, with slower growth seen in leading markets due to economic sluggishness. Malaysia, Bahrain and the UAE continued to lead in overall Islamic finance development according to the Islamic Finance Development Indicator (IFDI), which assesses 57 countries across quantitative, knowledge, governance, CSR and awareness factors. Sukuk issuance grew strongly at 10% while other sectors saw weaker growth. Governments continued supporting industry expansion through new regulations and education initiatives.
Impact of Foreign Direct Investments on Domestic Investments in Nigeriaijtsrd
This study examines the impact of foreign direct investments on domestic investments in Nigeria. Specifically, the study seeks to ascertain the effect of foreign direct investment, per capita income, consumption expenditure, savings and debt burden on domestic investments in Nigeria using an inferential statistic like the regression analysis after determining stationarity of the variables using the ADF Statistic, as well as the cointegration of variables using the Johansen approach. Findings revealed that foreign direct investment, per capita income, consumption expenditure, savings, interest rate and debt burden are statistically significant in explaining domestic investment in Nigeria. The F test conducted in the study shows that the model has a goodness of fit and is statistically different from zero. In other words, there is a significant impact between the dependent and independent variables in the model. The study therefore recommends that There is need for government to formulate investment policies that will be favourable to local investors in order to complement the inflow of investment from abroad. Government should provide adequate infrastructure and policy framework that will be conducive for doing business in Nigeria, so as to attract the inflow of FDI. Policies that would improve per capita income of Nigeria should be pursued as this will stabilize and accelerate the rate of investment in Nigeria. Anionwu, Carol "Impact of Foreign Direct Investments on Domestic Investments in Nigeria" Published in International Journal of Trend in Scientific Research and Development (ijtsrd), ISSN: 2456-6470, Volume-3 | Issue-5 , August 2019, URL: https://www.ijtsrd.com/papers/ijtsrd26725.pdfPaper URL: https://www.ijtsrd.com/management/accounting-and-finance/26725/impact-of-foreign-direct-investments-on-domestic-investments-in-nigeria/anionwu-carol
Abstract: Nigeria is one of the economies with great demand for goods and services and has attracted some foreign direct investment over the years. The amount of foreign direct investment inflow in to Nigeria has reached US $ 2.23 billion in 2003 and it rose to US $ 5.31 billion in 2004 (a 138 % increase), this figure rose again to US $ 9.92 billion (an 87% increase) in 2005. The figure however declined slightly to US $ 9.44 in 2006 while it has been on astronomical fall since 2006 till date. (CBN, 2011). The question that comes to mind is, do these for actually contribute to economic growth in Nigeria? If foreign direct investment actually contribute to growth, then, the sustainability of foreign direct investment is a worthwhile activity and a way of achieving this sustainability is by identifying the factors contributing to its growth with a view to ensuring its enhancement. The nose driving this research is to determine the short run impact of FDI on economic growth, OLS with ward test analysis was employed to determine the short run analysis of impact of FDI on economic growth. The result shows that all the explanatory variables such as Gross Fixed capital formation (GFCF), Total labour force (TLBF), Foreign Direct Investment (FDI) Lending rate and Average Manufacturing Capacity Utilization (AMCU) grossly affect economic growth in Nigeria. The result also implies that there exist a singleton (short run) impact of FDI on economic growth, recommendation was made that government must put in place all the pull factors such as good road, stable power supply and most essentially security of life and property of foreign investors in order to reduce the level of unemployment which serves as impediment to sustainable development in the Nation Nigeria.
The document summarizes budgets from Lesotho, Namibia, and Swaziland. Key points:
- Lesotho's budget projects government expenditure to increase 7.6% to M15.4 billion, with M10.4 billion for recurrent spending and M5 billion for capital projects. It aims to reduce reliance on volatile SACU revenue and improve the investment climate.
- Namibia's budget forecasts the deficit to narrow to 5.4% of GDP and GDP growth to average 5%. Government expenditure is set to rise 26.7% to N$60.28 billion, with 79.6% for operational costs.
- The budgets overall aim to diversify revenues amid uncertainty over
The document discusses private equity investment in Africa. It notes that private equity firms seeking exposure to sub-Saharan Africa's high growth markets have been one of the key drivers of M&A activity on the continent over the past five years. According to reports, sub-Saharan Africa attracted $3.2 billion in private equity investment in 2013, up from $1.6 billion in 2012, making Africa the most popular investment destination globally for private equity firms ahead of Brazil, Russia, India and China. The trend of increasing private equity investment flows into Africa is expected to continue gaining momentum in the medium to long term.
The document provides an overview of capital markets activity in Africa in 2015. Some key points:
- 2015 saw 28 IPOs and 91 FOs on African exchanges, representing the highest levels of equity capital markets activity over the past 5 years. The total capital raised through IPOs and FOs in 2015 was $12.7 billion.
- Debt markets activity in Africa declined in 2015 from previous years, with 47 corporate and sovereign debt issuances raising $19.3 billion, down from peaks in 2012-2013. Sovereign bonds dominated the debt markets.
- Technical advances and regulatory harmonization across African stock exchanges have improved market size, liquidity, and efficiency in recent years. However, some
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• The second important type of Debit security is NOTES. Apart from similarities associated with notes and bonds, notes have shorter term maturity.
• The 3rd important type of Debit security is TRESURY BILLS. These securities have short-term ranging from three months, six months, and one year. Issuer of such securities are governments.
• Above discussed debit securities are mostly issued by governments and corporations. CERTIFICATE OF DEPOSITS CDs are issued by Banks and Financial Institutions. Risk factor associated with CDs gets reduced when issued by reputable institutions or Banks.
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Common Stock: These are simple equity securities and bear no complexities which the preferred stock bears. Holders of such securities or instrument have the voting rights when it comes to select the company’s board of director or the business decisions to be made.
Preferred Stock: Preferred stocks are sometime referred to as hybrid securities, because it contains elements of both debit security and equity security. Preferred stock confers ownership rights to security holder that is why it is equity instrument
<a href="https://www.writofinance.com/equity-securities-features-types-risk/" >Equity securities </a> as a whole is used for capital funding for companies. Companies have multiple expenses to cover. Potential growth of company is required in competitive market. So, these securities are used for capital generation, and then uses it for company’s growth.
Concluding remarks
Both are employed in business. Businesses are often established through debit securities, then what is the need for equity securities. Companies have to cover multiple expenses and expansion of business. They can also use equity instruments for repayment of debits. So, there are multiple uses for securities. As an investor, you need tools for analysis. Investment decisions are made by carefully analyzing the market. For better analysis of the stock market, investors often employ financial analysis of companies.
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1. Unlocking superior returns via a diversified
African Investment Platform
May 2015
Investment Presentation
Strictly Confidential
2. Disclaimer
This Investment Presentation (“IP”) constitutes a ‘Private Offer’ as defined by Regulation 21 of the Capital
Markets (Securities) (Public Offers, Listing and Disclosures) Regulations, 2002 under the Capital Market Act,
and should not therefore be deemed to be an offer to the public.
This IP is for private and confidential use by the recipient, its employees and advisers, and may not be
reproduced, referred to or provided to other parties in whole or in part. The recipient of this IP, by accepting
delivery thereof, agrees to return it and related documents to the Company if the recipient elects not to
invest.
This IP is only meant for the person to whom it has been addressed and is strictly not for the use or
consideration of any other person.
It is illegal to copy, reproduce or distribute this Information Memorandum to any person including the media
houses (who are not to publish any contents herein whatsoever).
2
3. 1. Executive Summary
Founded in March 2015, Nelion Partners Limited (or “Nelion Partners” or “Nelion”) is a Seychelles incorporated
investment holding company, dedicated to provide its investors with a diversified exposure towards the fast
growing African economic landscape.
Nelion’s investment strategy is the address attractive opportunities in the following asset classes:
• Listed Equities with a focus on the Energy, Banking, Insurance and Retail mid-Cap opportunities,
unlocking value out of mid-term holding positions based on strong fundamentals
• Money Market placements taking advantage of attractive market conditions and LCY prevailing rates
• Real Estate residential assets with mid-term holding strategies for undeveloped serviced plots in fast
growing middle income areas
• Private Equity investments via Seed and Venture capital initiatives, leveraging the founding partners’
network
Nelion completed a first capital raising initiative in May 2015, with the subscription of 46 individual investors
(besides the 4 founding Partners) for a total consideration of USD 400k (underpinning a 35% oversubscription).
Proceeds from the first capital call are channeled into Kenyan and Nigerian listed Equities as well as pre-IPO
Private Equity opportunities.
Nelion is currently considering the issue of additional shares in order to support the geographic expansion of
the portfolio, the formalization of the Investment Management framework and the diversification into
alternative Asset classes (Venture Capital & Real Estate).
3
5. Africa’s Growth Story in 6 Drivers:
Macro & Political Stability: Political and economic risk rating of African countries are comparable to the BRIC
countries, while Governments reduced inflation from 23% (1995-2005) to 8% (2005-2013), debt from 105% to
52% and currency volatility from 29% to 12%.
On-going Economic Reforms: Widespread business-friendly reforms and cross border trade agreements are
making it easier to do business in many African countries,
Access to International Capital: Capital inflows of USD 84 billion p.a. with the highest return on FDI (9%+) across
all emerging markets
Seismic Demographic Shift: World’s largest working age population by 2035 of 1.1bn
Enhanced Complexity of Economic Pillars: Africa represents a large and growing opportunity in critical
industries: fast-moving consumer goods, Financial Services, Real Estate, Information & Technology, Healthcare,
Education as well as infrastructure, etc.
Commodity Boom: Africa is resource rich and cost competitive to source many minerals / commodities
2.1 Africa: the last Frontier
Africa is home to six of the ten fastest-growing economies in the world. The Gross Domestic Product (GDP) per
household in Africa has more than doubled in the last 15 years with around 85 million households currently
earning at least $5,000 a year.
Rapid growth in population and urbanization has continued to lead consumers within the African continent to
purchase more goods and services, in a development that has made it easier for companies to reach
consumers with products, services, and communications.
Africa’s overall economy should advance in 2015, expanding by 4.5%, showing resilience despite weak
commodity prices, terrorism threat and the now curbed Ebola West African epidemic.
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6. 2.2 Kenyan Macroeconomic Outlook
Kenyan Real GDP growth is estimated at 4.9% and 5.7% in 2013 and 2014 respectively. Besides the
recorded performance, Kenya has been classified as a middle-income country after a statistical
reassessment of its economy increased the size by 25.3% in September 2014. The East African
nation effectively becomes Africa’s ninth largest economy, surpassing Ghana, Tunisia and Ethiopia
GDP performance in 2014 was largely led by expansion in manufacturing, construction, trade and
financial services sectors with a slowdown felt in both Tourism and Agriculture sectors. Global market
prices for key export commodities, Tea and Coffee, remained depressed resulting in the lower agriculture
performance while negative travel advisories by some key tourist source countries, due to insecurity
concerns, occasioned the reduced tourist arrivals
Advancement in manufacturing and construction is expected to carry on through 2015, supported by
the higher expenditure allocation by the Government, to Infrastructure and Energy projects (22.6% of
Budget) as Kenya progresses towards becoming a regional trade and energy transit hub. Overall, the
continued stability of macro factors and high business confidence shall weigh in positively on Kenya’s
GDP performance in the year while continued slackening in tourism and Agriculture export earnings will
likely dampen growth outlook in 2015. IMF projections estimate Real GDP growth to reach 6.2% in 2015
against Kenya Government treasury estimate of 6.9%
The Kenyan economy’s short to medium-term forecast is for sustained and rising growth based on
ü Increased investor and business confidence in the wake of peaceful March 2013 elections;
ü A stable macroeconomic environment;
ü Lower international oil prices;
ü Long-Term Stability of the Kenya shilling, despite the recent volatility; and
ü Ongoing reforms affecting security, governance and justice.
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7. 2.2 Kenyan Macroeconomic Outlook (cont’d)
Kenyan GDP Growth
5.8%
4.4%
4.6% 4.7%
5.5%
5.9%
5.1%
4.2%
3.8% 3.8%
4.8%
5.7%
5.8%
5.8%
5.3% 5.4%
6.3%
6.8%
3%
4%
5%
6%
7%
8%
2010 2011 2012 2013 2014 2015 F
Kenya SSA EAC
GDP Contribution per sector
Highlight of major Growth Drivers
• The Lamu Port Southern Sudan-Ethiopia Transport (LAPSSET) Corridor is the upcoming second largest
Kenyan transport corridor, unlocking enormous regional trade potential towards the Northern land locked
countries (Ethiopia, South Sudan).
• Growth in Foreign Direct Investments is fuelled by natural resources, current infrastructure development
and a market leadership role in the Greater East African region.
• Oil and Gas resources: Despite the current global uncertainties, Kenyan oil reserves are currently
estimated at around 1 Billion barrels. Alongside the sizeable natural gas discoveries in North Eastern
province, the country is embarking on a major infrastructure-development plan.
7
8. 2.2 Kenyan Macroeconomic Outlook (cont’d)
Highlights of the Performance of the Nairobi Securities Exchange
In 2014, Nairobi All Share Index posted a +19.2% return in 2014 making that a three year Bull Sequence,
recording an overall return of close to 120% since January 2012.
Over the past 5 years, the Nairobi Securities Exchange has also outperformed its regional and global peers,
including main sub-Saharan African, European and US indexes.
8
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50
100
150
200
250
Feb-‐10 May-‐10 Aug-‐10 Nov-‐10 Feb-‐11 May-‐11 Aug-‐11 Nov-‐11 Feb-‐12 May-‐12 Aug-‐12 Nov-‐12 Feb-‐13 May-‐13 Aug-‐13 Nov-‐13 Feb-‐14 May-‐14 Aug-‐14 Nov-‐14
Chart
Title
NSE… S&P
500 CAC
40 LSE
FTSE
100
Index MSCI
Frontier
Index MSCI
Emerg
Index JALSH Nigeria
All
Share DJ
IndustrialNSE
All Share
10. 3.1 Nelion Partners: The Concept
Nelion Partners has been created by a group of business executives sharing a long-term attachment to
the African economic landscape and the entrepreneurial vision of structuring a scalable investment
holding platform.
Nelion Partners is structured as an avenue for the founders to provide a compelling proposition to their
network of family and friends without direct exposure to the investable landscape in one of the fastest
growing economies in the world.
2014 was an exciting year for investors and investment bankers alike in East Africa. Largely supported by
Kenyan transactions, 145 corporate deals were announced in the region (up 49% from the 97 deals
announced in 2013), and the Equity markets across East Africa rose by an average of 27%. There are no
signs that the on-going momentum will head towards adverse performance over the short to mid term
outlook.
Nelion Partners will initially channel its capital into Kenyan and Nigerian liquid Equity and Debt
instruments, in order to generate a marketable return and track record for future investors.
Within the first 12 months, the founders also intend to scale up the Nelion platform via the diversification
into alternative asset classes, primarily Real Estate and Private Equity. These initiatives will be funded by
follow-on cash calls and debt leverage initiatives.
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3
4
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11. 3.2 Nelion Partners: Business Model
1. Relationship &
Trust
2. Strong Deal
Sourcing
Capabilities
3. Enhanced
Monitoring
Nelion Partners is leveraging the founders day-to-day business involvement in the local Investment
and Commercial Banking scene in order to provide robust deal sourcing & research access
capabilities.
Besides, the initial management team (the “founding Partners”) offers a diversified range of skills and
track record covering the key target industries and assets classes (Listed Equities, Private Equity, Real
Estate, Fixed Income), hence providing a balanced portfolio.
Furthermore, the on-the-ground presence of the founding Partners will support the portfolio
management initiatives, with the ability to timeously exploit opportunities.
11
4. Scalable
platform
5. Blended
Portfolio
6. Diversity of
skills
12. 3.3 The Founding Partners
Samy Ghannam – Chairman & Partner
Mr. Ghannam is the Corporate Finance Associate Director at Genghis Capital
where he heads the Equity and Debt Capital Market advisory activities. He is also
the Chief Executive Officer (CEO) at Rinascimento Global Limited, an Investment
Holding Company with a diversified portfolio in the Kenyan banking and Real
Estate sector. He has been involved in the East African Investment Banking industry
since 2009, when he joined the Proparco Regional Office in Nairobi, in charge of
sourcing and structuring Private Equity and Debt investments across various
industries. Mr. Ghannam holds a Master in Science of Management from EM Lyon,
a leading European Business School.
Clement Martineau – Vice Chairman & Partner
Mr. Martineau is the General Manager of Lighthouse Property Company, a
diversified Real Estate Development and Management firm, associated to the
Chase Bank (Kenya) Group of companies. He ensures the day to day operations,
develops opportunities and then leads and supervise all the projects from
residential to commercial. Prior to joining Lighthouse Property, Clement Martineau
was managing the Real Estate portfolio (300+ properties across the country) of
Orange Kenya, the third largest Telecom operator in Kenya. Mr. Martineau holds an
engineering degree in Building Economics from Paris St Lambert, a reputable
French building school.
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2
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13. 3.3 The Founding Partners (cont’d)
Guy Brennan – Partner
Mr. Brennan is a founding partner of Ascent Capital, an East Africa focused Private
Equity fund manager with close to USD 80m under management. Prior to joining
Ascent, he worked in Investment Banking in Europe before moving to Africa in
2006, joining FINCA, one of the world’s largest micro-finance organizations. He
spent the last 9 years living in Kenya, Ethiopia and Uganda. He brings on board
tremendous Private Equity experience and extensive regional knowledge. He holds
a Bachelor of Commerce degree from the University of Sydney and an MBA from
INSEAD.
Stanley Gabriel – Partner
Mr. Gabriel is the Head of Strategy at Old Mutual in West Africa where he is
positioned to grow the relatively new business in the largest economy in Africa and
expand further into the region. Previously, he has worked in South Africa as the
right-hand man of the CEO of Old Mutual Emerging Markets with a footprint in 17
countries. Stanley lived and worked in Kenya for 3 years where he led projects in
distribution expansion and then co-owned a wine and logistics business in East
Africa. He will provide a wealth of experience having worked in three of the most
strategic economies in formulating and executing mid-long term strategies. He
holds a B.Sc (Maths, Statistics and Actuarial Science) from the University of Cape
Town and a Diploma in Actuarial Techniques from the Institute of Actuaries (UK).
3
4
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14. 3.4 Nelion Partners : The Operating Framework
Maximum Exposure per Industry: 45% of the Total Assets
Maximum exposure per Asset class: 65% of the Total Assets
Maximum Investment per Investee Company: 35% of the Total Assets
Minimum Investment Consideration: 5% of the total Assets, when applicable
The Capital of Nelion Partners will be divided into Class A and Class B shares (at a par value of USD 1.00
each), which future value will follow the performance of the underlying assets.
Governance:
(i) The Founding Partners hold Class B shares, granting them the overall responsibility of managing the
investment framework of Nelion Partners
(ii) Decision Making Process: Investment Committee comprising of all founding members plus invited
members subject to specific agenda.
IC meets every week, with virtual access to proposals in-between committee meetings.
Every investment / divestment decision require a 66% approval threshold by the Founding Partners
(ii) Investor Relations:
(i) Monthly Report with Portfolio Breakdown & Valuations
(ii) Quarterly Macroeconomic Updates
(iii) Bi-annually conference calls to provide updates on key performance indicators, structural
updates and strategic initiatives
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4
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16. 4.1 Nelion Partners : Investment Consideration
Strong Management Team: Diversified set of skills, business relationships and track record across the
region.
Dynamic Pipeline of Opportunities: The management team has already identified a number of liquid and
Private Equity investment opportunities, hence ensuring an optimum capital utilization.
Domestic macroeconomic dynamism & increasing Business confidence
Cost Effective Management Structure: Market based management fees shall only be applied on the first
anniversary, subject to generating positive financial performance and achieving a total assets under
portfolio of USD 500k and above. From the second year, the Partners will also be entitled to a market
standard investment incentive scheme, which will be aligned with the actual performance and will
ensure complete alignment amongst shareholders. The incentive framework will be implemented by way
of yearly issues of performance shares and share option plan.
Target USD IRR of [12-15%]
Dividend Policy: No dividend policy until FY 2020 in order to support re-investment of initial capital gains.
This remains subject to the future performance and will be assessed on a yearly basis.
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17. 4.2 The Current Opportunity
The Series A Capital Round seeks to open the capital structure of Nelion Partners to selected private investors
aiming at developing a long-term exposure to the African investable landscape.
Following Terms shall apply to the Extended Series A Capital Round:
§ Offer Open to a Restricted Number of Investors, invited by the Founding Partners (or “Sponsors”)
§ Investment Amount : USD 10,000.00 to USD 30,000.00 (for the acquisition of 10,000 to 30,000 Class A shares in
Nelion Partners Limited, the Seychelles holding Company at a price of USD 1.00 per share)
§ Target New Capital: Minimum of USD 250,000
§ Offer Period: Up to 30 June 2015
§ Subscription Method: Transfer of the Subscription Amount as per the final executed subscription form
§ Investment Certificates: Nelion Partners’ investors in the Series A Capital Round will be issued the relevant
share certificates, following allocation by the board of Directors.
§ Subscription Fees: a USD 100 fee will be deducted from the respective subscription in order to provide for
the underlying administration expenses.
§ Liquidity Framework: an investment into Nelion Partners underpins a long-term holding period with
projected liquidity provisions triggered from Year 8 to 10. Envisaged exit avenues include (i) innovative tag
along provisions to trigger partial liquidity framework during future capital raising initiatives, (ii) trade sale of
portfolio assets and (iii) listing on the Nairobi Securities Exchange to take advantage of the prevailing
framework on the Growth Enterprises Market Segment. 17
19. 5. FAQs
19
v Why should I invest in Nelion?
Nelion Partners offers a unique Asset Management solution, unlocking high return opportunities into a
diversified investments portfolio, taking advantage of an exceptional macro economic dynamism.
Plus, Nelion Partners will provide its investors with regular meetings / gatherings to keep them updated with the
performance and the prospects on their investments, and also offer tailored networking opportunities for the
members.
The shares on offer during the extended Series A Capital round are valued at par, hence giving all initial
investors the opportunity to acquire shares at the same price paid by the founding Partners.
v Why should I trust the founding Partners?
Besides being Africa based business executives with sound understanding of capital deployment strategies,
each founding Partner is leveraging his own personal network of family and friends to support the Series A
Capital raising, hence making a strong commitment on their ability to deliver the Nelion Partners vision.
Furthermore, the international experience gained by the partners will be reflected in the due diligence
procedures as we appreciate the comfort our investors require
v What are the tax implications out of an investment into Nelion Partners?
Nelion Partners is structured as an International Business Company (IBC) and therefore is totally tax exempt in
Seychelles. However, future dividends distributed to shareholders of Nelion Partners will be subject to the
applicable Income / Personal tax provisions in their respective jurisdictions.
v How and when do I get my investment back?
An investment into Nelion Partners needs to be informed by a long-term holding strategy with early
opportunity to trigger private sales and / or take advantage of tag and drag provisions to trigger partial exit
opportunities alongside the future capital raising efforts.
On a long term outlook, the sub-Saharan capital market is likely to offer liquidity avenues via listing on
secondary market segments.
20. 5. FAQs (Cont’d)
20
v In which currency will my returns be denominated?
The share capital and future returns out of Nelion Partners are USD denominated.
v What is the effective currency risk?
Nelion Partners will take local currency risks via its Equity and Debt investments in sub-Saharan Africa. The
mismatch between the funding currency and the underlying assets denominations trigger an inevitable
currency exposure. However, the founding Partners have an investment strategy focusing on currencies with a
long-term average yearly depreciation to the USD below 4%. Additionally, the future regional diversification
will provide an indirect hedging solution by limiting single currency fluctuations.
v What if I want to invest more than the proposed amount?
The current extended Series A Capital round intends to achieve a diversity of stakeholders, hence the
limitation in maximum investment per shareholder. However, Nelion Partners has a fast growth agenda
informed by regional and product diversification. This expansion will be primarily funded by cash calls to
shareholders, hence offering regular opportunities to increase financial exposure to the company.
v What is the difference between Class A and Class B shares?
Class B shareholders have been selected in order to take advantage of their capability to provide a hands-on
support to the long-term ambitions of Nelion Partners. They will be responsible to enter into, execute, maintain
and/or terminate investment agreements, contracts, undertakings and any and all other instruments, and
documents in the name Nelion Partners Ltd. They will also be entitled to a long-term incentive plan, as
highlighted in the Memorandum & Articles of Association, in order to create a sustainable alignment between
all stakeholders.
Class A shareholders will have limited governance rights, as highlighted in the Memorandum & Articles of
Association.
21. 5. FAQs (Cont’d)
21
v Why the need for an extended Series A round?
The recent currency and capital market evolutions across the continent have unlocked tremendous
investment opportunities which need to be funded promptly. The founding partners have identified a number
of Equities and Real Estate investment avenues and the most pragmatic and immediate way of raising more
capital is to extend the duration of the initial Series A round, and therefore to offer new investors the same
terms and conditions as previously applied.
v What has Nelion invested in so far?
Nelion has managed to complete a number of pre-IPO and mid-cap Equity trades in Kenya and Nigeria. The
portfolio stocks comprise of:
(i) UAP Group: an East African General and Life Insurance Company present in Kenya, Uganda, Rwanda
and South Sudan
(ii) NIC Bank: a Tier 2 Banking institution with a regional presence in Kenya, Tanzania and Uganda
(iii) National Bank of Kenya: a leading retail and Corporate bank in Kenya which successfully undertook a
turnaround strategy in 2012.
(iv) Kenya Re: a leading reinsurance company with a pan-African presence;
(v) Centum: a diversified investment holding company with significant interests in East African Real Estate and
Financial Institution
(vi) Seplat: an independent indigenous Nigerian upstream exploration and production company with a focus
on Nigeria
(vii) Diamond Bank of Nigeria: a leading retail financial institution in Nigeria
22. Appendix
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A1 - Partnership with SBG Securities and Standard Bank Group
A2 - The Greater Opportunity: Africa
A3 - The Proposed Partners Incentive Scheme
23. A1, Why SBG Securities as trading Partner?
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v We obtained the best rates available:
While the average fee in the market is around 1.5%, Nelion partners negotiated 0.95% inclusive of all taxes in
order to maximize the performance of the fund and future returns.
v Their Global footprint:
Standard Bank Group is a leading African bank with global emerging markets reach, with Africa Equity
platforms in place in Lagos (Nigeria, Ghana & Côte d'Ivoire), Nairobi (Kenya, Uganda, Rwanda & Tanzania)
and Johannesburg (South Africa); as well as Global Equity platforms in place in New York and London.
v Their research department:
SBGS has a fully fledged and independent equity, macroeconomic and fixed income research department
which produce regular market, sector and listed company reports across Africa.
v 2013 Stock Broker of the Year – Winner, SBG Securities
v Transparency of transactions as some of Nelion Partners are involved in the Kenyan Investment Banking
industry
24. A2. Africa by Numbers
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Current Figures
v Population: 1.1 Bn
v GDP: $2,392 Bn
v GDP per Capita: $2,106
v Population density: 33/km²
v Real GDP Growth (2013): 4.7%
v Net FDI (2013): $43 Bn
v Population (2050): > 1.8 Bn
v GDP (2020): $3,392Bn
v GDP/Capita (2020): $2,552
v Population density(2050): 60/km²
v Real GDP Growth (2014-20): 4.9%
v Net FDI (2017): >$80 Bn
Future Projections
Source| IMF World Economic Outlook, United Nations; BMI,
World Bank
25. A3. Incentive Scheme
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Notwithstanding any other rights accruing to the holders of Class B Shares, Class B Shareholders will be entitled to a
performance incentive scheme which will comprise of the following:
A Share Ownership Plan: on the 1st anniversary of the Series A Capital Round Closing Date, each Class B Shareholder
will be entitled, for a period of 3 years, to an option to acquire a certain number of Class A shares, upon final
recommendation by the Board. The applicable price per share shall be validated by the Board and will be fixed until
termination of the option. The beneficiary of such option will exercise his right to acquire all or some of the optional
shares at any time during the applicability period of such option. All payments for the underlying consideration will
have to be made prior to the issue of the relevant certificates.
Performance Shares: Each Class B Shareholder will be entitled, upon recommendation by the Board to performance
shares issued by the Company subject to the yearly financial performance and appreciation of the NAV per share.
The “hurdle rate” has been defined at 8% (in USD terms) and the proposed incentive scheme will assess, on a yearly
basis, the organic growth (exclude recapitalization initiatives) of the NAV and offer Class B shareholders the following
carried interest into future capital appreciation: