Location: Cape Town International Convention Centre, Cape Town, South Africa
Date: 05th , 06th April 2017
Bonds, Loans & Sukuk Africa is the continent’s only Pan-Africa debt event, bringing together local and international banks, borrowers, issuers, investors and financial service providers from across the whole of the African continent.
The Continent’s only Pan-African debt event
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Global trends and macro shocks:
Assessing the impact on African economic growth
- Africa’s economic fundamentals and GDP outlook: Positive, negative or stable?
- Trump and Brexit: How much are political factors driving growth prospects?
- An overview of interest rates movements across the continent: Should we expect rate rises in 2017?
- Commodity price volatility: Who are the winners and losers of oil price rises and falls?
Maureen Mashiane, Economist, Public Investment Corporation
Marek Hanusch, Senior Economist, World Bank
Off-Takers Roadshow: What projects are coming online and how will they be financed?
The Off-Takers Roadshow is your opportunity to hear from government representatives across the continent about upcoming power, water and infrastructure projects, how they will be tendered, the bidding process, and how much financing is required.
Silas Zimu, Energy Advisor to the President, Republic of South Africa
John Mudany, Finance and Commercial Director, Kenya Electricity Generating Company (KenGen)
Andre Barlow, Head Treasury and Finance, NamPower
How are ratings actions impacting the activity in the capital markets?
- What are the drivers of ratings actions for African sovereigns, FIs and corporates?
- An overview of recent ratings actions across the continent and their knock-on impact to capital markets activity
- Investor perspective: How much of an impact do ratings have on investors when assessing which countries and which companies to invest into?
Financing expansion outside of Africa: Where are multinational companies expanding and how are they financing their expansion?
- Diversifying away from Africa: Why are African companies expanding more offshore rather than onshore?
- What are the expectations of both international and local banks when assessing whether to finance these expansion plans and what products should be used?
Kelebogile Ntlha, Chief Financial Officer, Famous Brands
David Pfaff, Chief Financial Officer, Truworths
How to successfully navigate through a debt restructuring in South Africa
- Looming repayment and nowhere to refinance: What are the options for borrowers who are facing miss payments?
- Issuers and investors: Who to call first?
- Case studies of African debt restructurings: Country-by-country
Senior Executive, National Treasury, Republic of South Africa
Case Study: How to successfully access the international capital markets
In an environment of reduced liquidity, low commodity prices and looming interest rate rises, the challenges and hurdles that issuers must overcome to successfully price and place deals are greater.
This session will analyse the recent successful issuances, highlighting the reasons for raising capital, the thought-process of why a Eurobond was selected, and deal highlights of how the deal was successfully closed.
Ted Manvitz, Group Chief Financial Officer, IHS Towers
Dapo Olagunju, Group Treasurer, Access Bank
Developing Nigeria’s local debt capital markets
- Size and capacity of the local markets: Who is issuing and who is investing?
- Investor tips to issuers: What can Nigerian companies do to make themselves a more attractive investment opportunity?
- How to promote efficiencies, transparency and security in local markets?
Nigerian outlook: What are the Debt Management Office’s financing and investment requirements for 2017 and beyond and how will those targets be met?
- What can the market expect from the Nigerian sovereign in 2017? What is the strategy in both the local and international markets?
- Opening new markets and establishing benchmarks: Government initiatives in 2017 to improve liquidity for Nigerian corporate credit
Abraham Nwankwo, Director General, Debt Management Office, Republic of Nigeria
Raising capital in Kenya’s local bond market: What are the opportunities and the challenges in the local capital markets?
- Local asset managers, pension funds, family offices, hedge funds and institutional investors: How much liquidity exists here and how can they help develop the local markets?
- What are regulators doing to help develop local capital markets?
- How to attract international fund managers to the local market
Paul Muthaura, Chief Executive Officer, Capital Markets Authority Kenya
Kenyan debt management: What are the government’s strategies for supporting GDP growth and funding infrastructure pipeline?
Wohoro Wohoro, Director General, Public Debt Management, National Treasury, Republic of Kenya
Kenya’s banking and finance sectors: New regulations, consolidation, and capital requirements
- Update on Kenya’s banking market: Receiverships and the need for consolidation and change
- Framework and implementation: How will new regulations strengthen banking and insurance sectors?
- M&A and boosting core capital: How much capital is required? Where will it come from?
Alkarim Jiwa, Head of Finance and Planning, Diamond Trust Bank
Lawrence Kimathi, Group Chief Financial Officer, Kenya Commercial Bank
Financing Kenyan projects in the bond and loan markets: Players, products, challenges and solutions
- What role are international banks, developers, ECAs and multilaterals playing in the financing of infrastructure projects in Kenya? By what criteria do they select the projects to support?
- What criteria do commercial banks have when considering project financing opportunities? How much capital can they bring into deals compared to development banks?
- How to entice private investors into participating in Kenyan projects through PPP’s
Armando Morales, Resident Representative, Kenya, IMF
Developing Africa’s sukuk markets for issuers to access new pools of liquidity
- Why sukuk? Understanding the reasons and benefits to issue sukuk versus conventional bonds
- What government initiatives are in place and what more can be expected to promote the growth of Islamic capital markets in Africa?
How DFIs can continue to support funding of projects in times of increased volatility by sharing risk with commercial lenders
- DFIs and government guarantees: Case studies of how government guarantees have been used to close projects
- Can DFIs work with local pension funds to attract long-term investment to fund projects?
Jonathan First, Head of Loan Syndications, Development Bank of Southern Africa
Mbako Mbo, Chief Risk Officer, Botswana Development Corporation
Funding infrastructure in the capital markets: What does an African project bond look like?
- Unbundling project bonds: How are they structured, packaged and sold to investors?
- Can project bonds be structured for capital to be raised to finance through construction phases of projects?
- Who buys project bonds? What are their criteria for investing? What are their expectations on price?
- Project loans vs. bonds: What are the pros and cons in the view of borrowers and developers?
How can South African companies hedge local currency loans given diverging FX and rates?
- How are volatilities in FX and interest rates impacting company balance sheets?
- How much pressure will a further weakening currencies or a rise in global rates place on companies with foreign currency liabilities?
- Structuring a hedging policy, selecting derivative products, working with advisers to financial close: Best practices, key lessons and success stories of companies that have managed risk with derivative instruments
Why structured finance solutions are increasingly important for companies so long as Africa’s ratings outlook stays uncertain
- Boosting demand and liquidity with structure , Case study of successful securitization
- Rating of asset performance: How is the rating agency’s methodology different with a structured deal versus an unsecured deal?
- Capital and economic benefits of a structured finance deal versus an unsecured deal: Which companies could issue securitized bonds?
- How does Africa go from several companies issuing structured and securitized bonds to developing a market for structured and securitized bonds?
- Who are the investors? Where do they see value in the market? How is the approach to investing different to buyers of unsecured bonds?
How can regional integration help to unlock the potential of Africa’s capital markets?
- Promoting inter-regional cross-border lending: How to trigger activity
- How can Prospectus Regulation create standardisation and encourage efficiency through capital markets integration?
- Convertibility risk: How much of an impact is this having on regional integration of capital markets?
- Assessing the role of Stock Exchanges in the process of integration: What are they currently doing and what more can they do?