2011 AfDB Annual General Meeting Lisbon, Portugal 9 th June 2011
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Position as reference pan-African public sector investor Long term player Mobilize other financial resources Sustainability as central element Track record is the key to poverty alleviation
10-20% of annual private sector approvals. Indirect PE investments main channel (80%+) Quality of portfolio = sustainability activity. Transition from rapid growth to consolidation phase. Increasing emphasis on strategic deal selection.
◦ Ta Target t Portf rtfol olio io Profi file Diversified Financially sustainable Developmental impact targets ◦ Fund d Manager ager Prof ofile le Experienced fund managers New fund managers Including less established sectors and geographies.
◦ AfDB Added d Value Leverage Shareholder Base Pan African Presence Exclusive focus on Africa Range of products and services Leverage TA programmes 6
Flags gship ip Initiativ iatives es ◦ Mobilisation of Financial Resources Fund of Funds channel African pensions industry initiative Accompany international investors (e.g SWF) ◦ African PE Industry Performance Data ◦ Secondary Transactions Enhance hance Pa Partner tnership ships: : IFIs / DFIs, Other Public sector organizations, Private Sector Su Supp pport ort Industr dustry y As Asso sociati ciations ons: AVCA, EMPEA
Mainly in the financial sector Presence of a trusted partner Typically smaller investment amount
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180 160 140 SMEs ion ved in UA Million 120 Renewal Energy Mining 100 t Approved Infrastructure 80 Health Amount 60 Generalist Forestry 40 20 0 1996 1997 1998 2000 2005 2007 2008 2009 2010
Seni nior USD/m D/m Loans/LO ans/LOC Equi uity y Other er Total al 2006 2006 405 0 22 426 2007 2007 1073 282 17 1370 2008 2008 1340 171 41 1553 2009 2009 1557 213 17 1787 2010 2010 1539 290 8 1838 Indirect Investments (Funds) Direct Investments • • Strategic Investments: 9 Development Finance Generalist Institutions (earliest 1975) plus 1 other financial • Infrastructure institution • SME • Tactical Investments: 6 Financial institutions and • Health 1 Industrial company (Divested) • Agribusiness
CENTRAL AFRICA 3% EAST AFRICA 16% WEST AFRICA 31% NORTH AFRICA 24% SOUTHERN AFRICA 19% PAN AFRICAN 7%
MINING MANUFACTURING 10% SERVICES INDUSTRIES 5% 21% INFRASTRUCTURE 12% TELECOM 20% FINANCIAL SERVICES HEALTH CARE 16% 2% ENERGY 7% TRANSPORT LOGISTICS 1% AGRIBUSINESS EDUCATION 6% 0% 13
Commitment Fund NAME Short Name Sector Signature (USDm) South Africa Infrastructure Fund (SAIF) SAIF Infrastructure Jul-97 15 AIG African Infrastructure Fund AIG Infrastructure Sep-99 50 ECP Africa Fund II PCC ECP II Generalist Dec-05 50 Pan African Infrastructure Development Fund (PAIDF) PAIDF Infrastructure Jun-07 50 Maghreb Private Equity Fund II MPEF II Generalist Apr-08 20 Atlantic Coast Regional Fund LLC (ACRF) ACRF Generalist Aug-08 15 Growth Finance (GroFin) GROFIN SMEs Sep-08 20 ECP Africa Fund III ECP III Generalist Nov-08 50 Agri-Vie Fund AGRIVIE Agribusiness Jun-09 15 Pan African Investment Partners II Limited (PAIP II) PAIP II Generalist Jun-09 50 AfricInvest II Fund AIF II Generalist Sep-09 30 Africa Health Fund (AHF) AHF Health Oct-09 15 Aureos Africa Fund, L.L.C. AUREOS Generalist Dec-09 30
Commitment Fund NAME Short Name Sector Signature (USDm) Evolution One Fund EVOLUTION ONE Renewable Energy Feb-10 15 African Infrastructure Investment Fund 2 - AIIF II Infrastructure Mar-10 30 Investment Fund for Health in Africa IFHA Health Apr-10 15 Emerging Africa Infrastructure Fund EAIF Infrastructure Jun-10 50 Citadel Capital Joint Investment Fund CITADEL Generalist Jul-10 20 Argan Infrastructure Fund ARIF Infrastructure Jul-10 20 Financial Africa Capitalization Fund ACF Jul-10 50 Intermediation African Agriculture Fund AAF Agribusiness Oct-10 40 Catalyst Fund Catalyst Generalist Dec-10 15 New Africa Mining Fund II NAMF II Mining Dec-10 25 Helios Investors Fund II HELIOS II Generalist April-11 30 TOTAL 24 720
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