Course 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
Action Lead
Intensive Online
Training
12+
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.
Course Outline
Introduction
- Overview of Project Finance
- Climate Considerations in Project Selection
- Principles of Risk Allocation
- Climate Considerations on Risk Allocation
Contract Mechanics in Project Finance
- Concept of Guarantee
- The Importance of Guarantees in PF
Case Study Review & Discussion
Understanding Project Development
Introduction to Project Development
Project Development Stages
Types of Project Finance Deals
Early Development Stage
Competitive Tendered Projects
Un-solicitated Proposals to Government
Post Signing Issues in Early Development Stage
Introduction Pre-Financing Stage
Introduction to Pre-Financing Stage
Importance of Finance Model Development
Key Financing Concepts for Infrapreneurs
Achieving Bankability: Predictable Cashflow
Understanding Predictable Cashflow and Offtake Agreements
Key Provision in Offtake Agreements
Key Provisions in Concession Agreements
Risk Management in Offtake and Concession Agreements
Achieving Bankability : Fixed Construction Delivery
Understanding Fixed Construction Delivery
Construction Life Cycle
Construction Arrangements
Risk Management in Construction Arrangement
Achieving Bankability : Governance, Operations & Sustainability
Understanding Sustainable Operations & Environmental Compliance
Project Governance using Shareholder Agreements
Resource Supply Arrangements
Operations & Maintenance
Environmental Impact Assessment
Introduction to Environment Social and Governance
Sustainability Project Financing and UN SD Goals"
Case Study Review & Discussion
Assignment: Developing Infrastructure Bankability Structuring Report
Case Study Review & Discussion
Key Concepts in Financing
Key Concepts in Financing,
Sources of Financing
Measuring the Borrowing Capacity of a Project
Application of Financial Models
Case Study Review & Discussion
Infraprenuers Guide to Understanding Project Finance Models
Application of Financial Models:
Understanding the Role of Financial Models
Use of Financial Model by Sponsors
Use of Financial Model for Preliminary Due Diligence
Use of the Model for Negotiations
Use of the Model for Monitoring and Performance
Case Study Review & Discussion
Key Concepts in Finance Documents
Introduction to Core Finance Agreements (i.e Common Terms Agreement (CTA) , Individual Loan Facility Agreement (ILFA) and Amendment and Waiver agreement (AWA)
Understanding the Project Finance Loan Agreement (CTA and ILFA)
Core Terms in CTA and ILFA
Conditions Precedent
Disbursement and Repayment Terms
Representations and Warranties
Covenants
Events of Default (EOD)
Support Agreements to Project Finance Loans
Introduction to Other Finance Agreements ( i.e. Equity Support Agreement (ESA) , Account Agreement (AA) and Agency Roles in Loan Agreements (lnter-creditor Agent and Security Trustee)
Introduction to Security Arrangements
Introduction to Direct Agreements
Credit Enhancements Private Parties
Case Study Review & Discussion
Infrapreneurial Guide to Capital Raising
Key Documentation in Capital Raising
Soft Skills in Capital Raising
Managing Due-Diligence & CPs
Post-Financial Close Activities
Introduction to Post Financial Close
Financial Close to Draw Down
Key Limiting Factors to Draw down
EPC Contract Monitoring
Roles of the construction manager/owners representative
Managing Transaction
Project Commissioning
Key Pre-Operating Activities
Refinancing & Default Management
Conclusion of the Course
Past Participants
Past Facilitators Profile
**Below are the facilitators who have previously trained participants during the AIP and The African Catalyst changes its Facilitators for time to time based on availability of the facilitators
Femi is the founder of Brickstone and has practical experience in advising companies and governments on private investments in energy , real estate and infrastructure, including structuring and executing project/structured financings and M&A transactions. He leads Brickstone’s Origination & Commercial advisory team in Energy, Infrastructure and Real Estate
Femi was an investment banking professional with Vetiva Capital Management Limited where he led teams on several M&A transactions, capital raisings programmes as well as structured/project financings of over $500 million. Prior to joining Vetiva Capital Management Limited, he was at the ARM Investment Mangers and was part of the private equity real estate team and he assessed potential real estate investment opportunities, prepared detailed financial models and valuations and oversaw property development, construction management, coordinated marketing, contract negotiations and closings for a real estate developments; Femi has a first degree – B.Sc Geology from University of Ibadan and Masters in Business Administration (MBA) from Lagos Business School, Pan-African University. He is the Facilitator and Lead of the Mining –Manufacturing Policy Commission of the Nigeria Economic Summit Group.
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.
Fola has worked at AFC in various roles for nearly a decade and is currently focused mainly on leading the delivery of advice to various clients including governments, private funds, large corporates, private developers, state-owned entities and central banks. Prior to AFC, Fola worked as an investment banker at Afrinvest, a London and Lagos based securities firm. At Afrinvest he focused originally on mergers, acquisitions and capital raising; then subsequently led the investment research department. Fola has received a Master of Business Administration (MBA) degree and prior to that a Bachelor of Science degree in Physics.
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.
With knowledge and technical expertise in providing a range of environmental services across industries and sectors, Abbas has conducted E&S Due Diligence and Independent E&S Monitoring and Audits for large scale infrastructure projects, applying international and country-specific E&S standards including the IFC Performance Standards, IFC EHS Guidelines, ILO Conventions, the Equator Principles, Nigeria Sustainable Banking Principles, and country-specific legislation in Nigeria and Ghana. He manages the ESG portfolio of private equity clients, providing ESG advisory support to the firms and their portfolio companies.
Abbas is the Managing Consultant with ImpactCrest Consulting. He holds a master’s degree in Sustainable Environmental Management from the University of Greenwich, United Kingdom, and bachelor’s degree in Botany from the University of Lagos, Nigeria.
Innovative and result-oriented sustainability specialist with over eighteen years of development work and environmental management practice in Nigeria. This has provided her with the opportunity to support the development of public policies and regulation as well as deploy relevant tools to assist organizations to improve their environmental performance.
Have championed the application of numerous tools to enable the environmental and social safeguards for over 50 projects and supported about 20 different organization to improve their environmental performance in the last nine(9) years.
Key skills includes performing Environmental and Social Due Diligence, Environmental and Social Impact Assessment, Environmental Audit Reports (EAR), Cost Benefit Analysis, Life Cycle Assessment, Resource Management, Environmental Sensitivity Index, Environmental Management Plans, and Stakeholder Engagement etc.
Jobalo was a core part of the pioneering team responsible for establishing ARM-Harith, Jobalo has headed the legal and compliance function since the JV’s inception.
A commercial lawyer with over 20 years’ experience and extensive exposure to public-private partnership, infrastructure development and infrastructure project finance, Jobalo previously held board roles with energy and transport sector entities.
Previously Executive Director and Head of Legal at Lekki Concession Company, Jobalo led counsel for the team responsible for negotiating the pioneering US$420 million Lekki Toll Road Concession Project.
Jobalo holds a Bachelor of Laws from Ogun State University, a BL from the Nigerian Law School, and is an Alumnus of Cranfield where he obtained an award in Business & Leadership.
Mr. Folayan is an infrastructure advisory specialist with 20 years of experience in infrastructure advisory, development and finance coupled with extensive project management experience. A team player committed to supporting overall objectives, he has a track record of assisting owners and managers of infrastructure in improving operational efficiency and delivering on infrastructure project goals and objectives. Mr. Folayan has worked and developing relationships/partnerships with clients, government officials, engineers, planners, stakeholders and bankers/financiers, including bilateral and multilateral agencies, to deliver infrastructure projects.
Mr. Folayan’s portfolio of projects include transaction advisory and project management for the development, operations and maintenance of the 28 Km Blue Line Light Rail Mass Transit (LRMT) system develop by the Lagos State Government.(Nigeria); and transaction advisory and project coordination for the privatization and asset sale/transfer of generation, transmission, distribution and gas transport infrastructure developed by the Niger Delta Power Holding Company (NDPHC) under the National Integrated Power Project (NIPP). He has successful completed projects in Nigeria, Ghana, USA, Mexico, Zambia, Bahamas, and Aruba.
Ope leads structured financing for various infrastructure projects particularly in the ports and logistics sectors. Ope was the Head of Project Finance at Arise, a pan-African infrastructure developer and sponsor backed by AP Moller Capital, Africa Finance Corporation (AFC) and Olam International, where he successfully raised over US$200 million. Ope was also an Infrastructure Investment Specialist lead at Investec Asset Management (now NinetyOne) and was part of the Emerging Africa Infrastructure Fund (EAIF) investment team, a US$1 billion debt fund, where he successfully participated in financing valued at over US$2 billion in the power, transportation, logistics and telecom sectors.
Earlier in his career, Ope was an Assistant Vice President at Citigroup’s Project and Infrastructure Finance group in Hong Kong, providing financial advisory and arranging debt facilities for project finance transactions in the power, oil & gas and infrastructure sectors for clients in Asia and Europe.
Ope enjoys volunteering his time at various non-profit organizations to include AFFORD UK and has published several articles on impact investments in Africa. He has guest lectured at institutions such as Oxford University, University of Cape Town and the Chinese University of Hong Kong discussing topics on impact investment in infrastructure. His hobbies include hiking, running and photography.
Ope holds a Bachelor of Science in Computer Engineering and Management Information System from the University of Maryland Baltimore County, Master of Science in Computer Science from Johns Hopkins University and Master of Business Administration from Duke University Fuqua School of Business.
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.
She has a master’s degree in business administration from Manchester Business School, UK and a first degree in Biochemistry from University of Ibadan, Nigeria.
Abimbola is committed to supporting the education and wellbeing of children with absent or underprivileged parents and currently serves on the Advisory Board of the Special Foundation, a charity focused on educating Nigerian children.
Ana is qualified as a lawyer in both England & Wales and the State of New York and is an infrastructure and energy professional with more than 15 years’ experience in a variety of transactions including project finance, public-private partnerships and project development, working on energy and infrastructure projects in emerging markets. Ana trained with Allen & Overy LLP and went on to work for Fulbright & Jaworski LLP and Trinity International LLP, advising on a diverse range of projects within the energy sector, predominately in Sub-Saharan Africa. Ana negotiated and/or was involved in a number of renewable energy projects across sub-Saharan Africa and is an African IPP project finance and PPA risk allocation specialist. Ana also worked in an advisory role for power pools in Africa and is therefore well versed in the opportunities and benefits of regional power trading for risk diversification and power market creation. In March 2015, Ana was appointed by the UNECE as the Team Leader responsible for a Project Team (comprising about 30 specialists) in charge of developing international renewable energy PPP standards as part of the Sustainable Energy for All agenda.
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.
Bowale’s experience cuts across the investment value chain, including business
development, project development, investment execution, and portfolio value creation.
Bowale is a Certified Project Management Professional and has also obtained a Diploma
in Company Direction from the Institute of Directors UK.
Desmond is a Partner in Templars Law Firm. He holds a Master of Laws degree from Harvard University, graduated with First Class Honours from the Nigerian Law School, and has a Bachelor of Laws from Ebonyi State University.
Desmond has extensive experience advising project companies, sponsors, borrowers, banks, funds, multilateral finance institutions, export credit agencies, other financial institutions and corporates on diverse transactions including project finance, acquisitions and divestments, power projects and other infrastructure development, strategic investments, international capital markets issuances, corporate finance and alternative funding structures.
He is ranked in several international legal directories including IFLR 1000 Guide to the World’s Leading Financial Law Firms and Chambers Global Guide to the Legal Profession with clients and other independent sources describing him as “…a good problem solver and very client oriented”; “very effective… strong and bright”; ”one who delivers excellent work”; and “has a keen eye for the commercial objectives of a transaction”.
Desmond has served as a Senior Editor of the Harvard Business Law Review; as Vice-Chairman of the NBA Section on Business Law; and as a member of different technical committees of experts appointed by the Senate of the Federal Republic of Nigeria to advise its Banking, Finance, and Insurance Committee on much needed financial law reforms in Nigeria.
Hedieh is Founder of Finexmod and has 12 years of experience as a financial and economic modeler. Hedieh is also currently an Associate Director in Themis. She is currently working as the lead financial modeler for several electricity generation projects in Africa both renewables as well as thermal.
She has previously worked as a consultant in the financial and economic modelling team at the African Development Bank where she led and assisted in the evaluation of financial and economic feasibility of projects financed by the bank with focus on transactions from the bank’s Private Sector Department. Projects ranged from infrastructure (energy, transport, water, oil and gas) to manufacturing industry. She has also worked as the program manager and lecturer in several executive training programs on Investment Appraisal and Risk Analysis delivered by the John Deutsch Executive Programs.
She is a certified financial and economic modeler from Queen’s University and holds a Master's degree in Economics at the Eastern Mediterranean University in Cyprus. She is a citizen of Iran.