Programme Overview
The Africa Infrapreneurs Programme is designed for aspiring Infrapreneurs seeking to improve their project finance knowledge and are involved in the Large Scale Infrastructure Projects.
Organized by
Co-Hosted by
Dates and Mode of Delivery
23-27 October 2023
Lagos, Nigeria
The LilyGate, Lekki Phase 1
Lagos
Lagos
5 Days
Intensive
Training
12+
Infrastructure
Case Studies
10+
Project Finance Facilitators
1
Africa Infrastructure
Focus
20+
Impactful Learning
Sessions
Key Learning Outcomes
1.
UNDERSTAND LIMITED RECOURSE FINANCING
Understand the fundamentals of Limited Recourse Finance based developments for the Private and Public Sector Projects.
2.
UNDERSTAND WHAT MAKES PROJECTS BANKABLE
Appreciate the mechanisms that make projects bankable and investable as well as protects creditors
Understand Limited Resourse Financing
3.
APPLY PROJECT RISK ANALYSIS WITH CASE STUDIES
Understand how to analyse and interpret risk to determine their severity and potential impact on the transaction structure.
Recap: Day 1
Introductory Remarks on the Africa
Infrapreneurs Programme.
Our Facilitators, Femi Awofala and Bunmi Folayan, brought the world of Project Finance in infrastructure development to life, making it relatable and engaging.
With a diverse mix of participants joining us from around the globe, including notable companies like SIFAX Group, Leadway Assurance Company, and KHS Machine, the atmosphere was buzzing with enthusiasm.
The sessions were a comprehensive journey, touching on fundamental project finance concepts, risk allocation, Public-Private Partnerships (PPP), early development stages in infrastructure deals, and the crucial pre-financing stage. Not to forget, the insightful Brickstone Project Bankability framework, which illuminated the path to ensuring project success from ideation to completion.
We also explored real-world case studies, delving into the fascinating stories of the Mozal Aluminum Project and the Dabhol Power Project. To top it all off, participants were challenged with assignments and quizzes, putting their newfound knowledge to the test.
As we wrap up Day 1, our heartfelt thanks go out to the entire team, our dedicated facilitators, and our enthusiastic delegates for making AIP 2023 a truly fantastic experience this far.
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Stay tuned for more exciting updates, and we can't wait to see you all back here tomorrow for another day of exploration and learning!
Overview of Project Finance, as a methodology designed by bankers to mobilize
Large Debt for Infrastructure Projects.
Our esteemed Course Director, Femi Awofala, Founder of Brickstone Africa and CEO of TheAfricanCatalyst has taken the stage to share his wealth of knowledge with our captive audience.
Today, he delves deep into the world of project finance, enlightening our participants about its intricate and essential concepts. From defining project finance to exploring its various facets, he covers topics like:
- What is project finance?
- Participants in a project finance deal
- Merits & demerits of project finance deals
- Principles of risk allocation
- The contractual nature of project finance
- Project finance development phases
- Types of financed projects
Join us for this enriching learning experience and gain valuable insights into the world of infrastructure entrepreneurship.
Mozal is a $1.4 billion, 250,000-ton, largescale aluminum smelter project in Mozambique
The sessions focus on the Early Development Stage, the first stage of the Projects Development Process.
After a refreshing tea break, Bunmi Folayan, a distinguished Private Sector Infrastructure Consultant, join us virtually. With expertise in the field, he provided valuable insights into the early development stage of project finance infrastructure deals.
During his engaging session, he covered a wide array of topics, including:
- An overview of Public Private Partnerships (PPP)
- The solicitation process through International Competitive Bidding (ICB) and its key activities
- The importance of private sector participation
- Conducting competitive bidding effectively
- The role of RFP (Bid Document Package)
- The meticulous process of Bidder Final Selection
- The significance of unsolicited proposals
- Considerations in signing PPP contracts
Join us as we continue to explore the intricate world of infrastructure entrepreneurship and project finance.
The Dabhol project is a 2,015 MW, $2.8 billion gas-fired power plant located in India’s Maharashtra State.
Understanding the Pre-Financing Stage.
After a satisfying 1-hour lunch break, our Course Director, Femi Awofala, returns to the stage, this time with a fascinating practical case study - the Dabhol Power Project.
In these sessions, he also takes us through the nitty gritty of the pre-financing stage in a project finance infrastructure deal, shedding light on vital elements and key activities involved, including the intricate financial models.
To truly grasp the concept of 'Bankability' in project development, Femi introduces the Brickstone Bankability Framework, a creation of Brickstone Africa. He expounds on the significance of project bankability, focusing on aspects such as predictable cash flow, optimal construction and operations, as well as the critical factors of good governance and sustainability.
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Join us as we continue to explore the intricate world of infrastructure entrepreneurship and project finance. 🌍💼
Understanding a Framework to think around how to make a Project Bankable
Recap: Day 2
Today's session, featuring the Ifrikya Railway as a case study, delved into critical areas such as Financial Models, Predictable Cashflow, and Fixed Construction Delivery & Operations, all crucial components for achieving bankability in infrastructure projects.
Additionally, we had the privilege of hearing from Ana Hajduka Shields, CEO/Founder of Africa Greenco, who shared her company's innovative experiences as an intermediary off-taker and service provider, providing valuable insights to benefit our delegates.
As we conclude Day 2, we extend our heartfelt appreciation to our entire team, our dedicated facilitators, and our enthusiastic delegates for making AIP 2023 an exceptional experience so far.
Our first facilitator for today is Hedieh Kianyfard, a Financial and Economic Modeler with over 12 years of extensive experience in infrastructure projects throughout Africa.
Hedieh’s session has been insightful and engaging as she deep dives into the crucial aspects of creating a well-structured financial model for project finance and infrastructure deals. The session provides valuable insights and best practices to guide you through this process.
As we delve further into today's session, 'A Guide to Financial Models,' Hedieh Kianyfard, remains actively engaged with our delegates, offering insights on the creation of detailed financial models for their project finance transactions.
She walks us through the practical process of creating, designing, and structuring a project finance financial model template, ensuring our audience gains a deep understanding.
Thank you, Hedieh Kianyfard, for your time and the enriching experience you've provided.
Abbas is an environmental and social specialist with multisectoral experience related to environment, social risk assessment and management in Ghana and Nigeria. Trained by Environmental and Social (E&S) Specialists from the International Finance Corporation (IFC) in Environmental and Social Risk Management (ESRM) and Environmental and Social Management System (ESMS), Abbas possesses in-depth knowledge of IFC Performance Standards and IFC Environmental and Social Review Procedures and had developed ESMS for a variety of clients.
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It was indeed a remarkable and enlightening experience to have Desmond Ogba as one of our distinguished facilitator for the AIP 2023.
He provided an in-depth exploration of Predictable Cashflow and Risk Analysis & Management in the context of project finance and infrastructure development transactions.
His wealth of knowledge and expertise in these areas enriched our understanding in Contractual Models, Off-take Agreements, Concession Agreements, and Risk Management - fundamental concepts and skill set in successful project finance.
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Bowale is a senior development finance and impact-oriented investment executive with 18+ years of global experience spanning multiple sectors across 3 continents (Africa, North America, and South America). She has an extensive understanding of investment and portfolio value creation, risk management, and ESG / climate finance.
At the Africa Finance Corporation (AFC), an investment grade multilateral finance
institution with a US$10 billion balance sheet, Bowale has led the development, financing, and portfolio operations of 20+ investments and projects (in power and renewable energy, petroleum logistics, and transport). Prior to joining AFC, Bowale worked in technology consulting, business strategy, and commercial credit for industry leaders such as Accenture, Chevron, and GE Capital.
Abimbola has over 20 years experience spanning Energy and Corporate finance, Investment Banking, Strategic Business Planning and Organizational Development. Abimbola joined FIRST E&P as a Corporate Planning and Business Performance Manager and has held several roles within the Company with responsibility for Corporate Finance, Petroleum Economics and M&A Activities.
Prior to joining FIRST E&P, Abimbola was Vice President, Investment Banking at FCMB Capital Markets Limited. Over her work experience, Abimbola has been responsible for leading various capital raising, public listings and mergers and acquisition efforts on behalf of private and public companies across various industries in Nigeria with a more recent focus on oil and gas sector.
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Recap: Day 3
Day 3 of The Africa Infrapreneurs Programme 2023 is here!
Delegates are eagerly gathered as we kick off the day with a quick recap of the enlightening sessions from Day 2. Our Course Director, Femi Awofala, is actively engaging with participants, fielding their questions, and seeking updates on quizzes and assignments.
Stay tuned for more exciting updates about the program!
ESG stands for environmental, social, and corporate governance
In project finance and infrastructure development deals, placing a strong emphasis on environmental and social sustainability is paramount.
This approach ensures that projects not only make financial sense but also contribute responsibly and positively to the community and the environment. Such a focus not only aligns with ethical and regulatory standards but also significantly bolsters a project's long-term success by addressing its environmental impact and enhancing social well-being.
Today, we were honored to have Ibukun Faluyi (PIEMA, NEBOSH-IGC) from Vincinia Solutions Limited as our first facilitator. She delved into the basics of Equator Principles and IFC Performance Standards on Environmental and Social Sustainability, covering various crucial aspects, such as benefits of equator principles compliance, project review and categorization, environmental and social assessment, management, stakeholder engagement, effective grievance mechanisms, and independent review.
Ibukun Faluyi (PIEMA, NEBOSH-IGC) led an impactful session, and we extend our heartfelt appreciation for her valuable insights and time. We say a thank you to you for contributing to our program!
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As our world faces increasing environmental challenges, integrating climate resilience and mitigation strategies into infrastructure is vital. This not only safeguards against climate-related risks but also contributes to a sustainable and low-carbon future.
By addressing climate change in infrastructure, we can build more resilient, efficient, and environmentally responsible systems, ultimately ensuring a better future for generations to come.
Today, we were fortunate to have Abbas Agbaje (PIEMA, GRI-CSP), Managing Consultant at ImpactCrest Consulting, enlighten us on key considerations in infrastructure development projects. He emphasized the importance of sustainability and its role in shaping the future of infrastructure businesses.
His session encompassed a broad spectrum of insights, including the influence of climate hazards on project longevity, the alignment of projects with climate policies, pre-assessment of greenhouse gas emissions, strategies for adaptation and resilience, mitigation approaches, and the prioritization of climate strategies.
Thanks to Abbas Agbaje (PIEMA, GRI-CSP), we had an exceptional session, delving into the essential realm of climate-conscious infrastructure development!
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The structuring of project financing is a framework in which ownership structure, project structure, risk structure, and financial structure are tied
The upstream sector is also known as the E&P division of the business
The upstream sector is also known as the
E&P division of the business.
Recap: Day 4
Remarks on Day 3 of the Africa Infrapreneurs Programme.
We were privileged to host distinguished experts from the legal, finance, and banking sectors who educated us on essential factors in securing financial resources during funding rounds. These sessions offered a comprehensive guide to capital raising, delving into the due diligence process, finance document essentials, and finance loan agreements.
Delegates put their learning into practice by applying it to the project bankability framework they had been working on in previous days, presenting as if they were pitching to potential investors.
Fola Fagbule is a banker and investment professional focused on infrastructure in Africa. He currently serves as a Deputy Director and Head of Financial Advisory with overall responsibility for mergers, acquisitions, capital raising and other technical advisory assignments at the Africa Finance Corporation (AFC). His work revolves around large infrastructure projects, companies and investments across sub-Saharan Africa. AFC is a US$4.0bn infrastructure financier working across nearly 30 countries in Africa.
This morning, Bowale Odumade Adeoye provided an insightful overview of due diligence in infrastructure projects, emphasizing its significance in all aspects of the Brickstone Project Bankability Framework: Predictable Cashflow, Fixed Construction Delivery & Operations, and Governance and Sustainability.
Due diligence encompasses thorough research, analysis, and risk assessment to ensure project viability, legality, and long-term success. It identifies potential pitfalls and allows for the implementation of corrective measures, mitigating financial, legal, and operational risks. This process safeguards investors, stakeholders, and the project itself, contributing to overall success and sustainability in infrastructure projects.
Case Study 4.1: Standard DD Checklist from a Project Finance Broker
To have a better understanding of project finance loan agreements.
To have a better understanding of project finance loan agreements.
These are other finance agreements like Equity Support Agreements (ESA), Accounts Agreements (AA), and Agency Agreements
Recap: Day 5
Remarks on Day 4 of the Africa Infrapreneurs Programme
Reviewing a Project Finance Model.
The rationale for taking security in project
finance transactions and a typical security
package
Using the Cenpower and Samba Drillship
case studies to further explain security
arrangements and direct agreements
Enhancements can be used to perfect the
allocation, or in other ways support the
distribution of risks.
Post-Financial Close Activities from the
financial close to the operation stage of a
project.
Conclusion and delivery of certificates to
participants with photos
Testimonials from Participants
