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Examining the role of DFIs, IFIs, and ECAs pushing forward Africa’s green project pipeline

Broadcast on Oct 6, 2020 from Livestream: ESG & Capital Markets Africa 2020 - Virtual Conference

Gold Sponsor

Standard Bank

Multilateral Sponsor

Africa Finance Corporation

WAEMU Sponsor

Agence UMOA-Titres

Silver Sponsor

Nedbank CIB

Silver Sponsor

Rand Merchant Bank (RMB)

Bronze Sponsor

Fitch Ratings

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Examining the role of DFIs, IFIs, and ECAs pushing forward Africa’s green project pipeline

  • What role are banks and DFIs playing in educating the market on cost-effective ways to issue sustainably?
  • How do DFIs, IFIs and ECAs compare on their ESG mandates? What strategies are they using to push forward the green project pipeline?
  • DFIs as a pillar of ESG financing: What metrics are they using to decide whether to enter a project? What is their stance on transition finance?
Africa

Moderator

Louise Gardiner

Louise Gardiner

Louise Gardiner

Founder at First Principles

First Principles

Speakers

Banji Fehintola

Banji Fehintola

Banji Fehintola

Corporate Treasurer at Africa Finance Corporation

Banji is Senior Director and Head of Treasury & Financial Institutions at Africa Finance Corporation (AFC). He is responsible for managing the Corporation’s balance sheet with total assets of about US$4.5 billion and leading the implementation of its annual funding program in the international loan and debt capital markets. Banji joined AFC in January 2008 and as the pioneer Treasurer of the Corporation, he was instrumental in setting up the Corporation’s treasury function and leading AFC to becoming one of the leading African credits in the international loan and debt capital markets.

He has led several landmark borrowing transactions that AFC has executed since its inception. He manages AFC’s relationship with its rating agencies, bankers and asset managers. AFC in one of the highest investment grade rated entities in Africa with a credit rating of A3 (Stable Outlook) from Moody’s. Prior to joining AFC, Banji worked with the Fixed Income, Currencies and Commodities team of Citibank Nigeria and the Tax and Business Advisory Division of former Arthur Andersen. He is a Chartered Accountant, with a first degree in Economics and a Masters degree in International Finance. He is also a CFA Charter holder.

Africa Finance Corporation

Banji Fehintola

AFC, an investment grade multilateral finance institution, was established in 2007 with an equity capital base of US$1.1 billion, to be the catalyst for private sector-led infrastructure investment across Africa. With a current balance sheet of approximately US$6.1 billion, AFC is the second highest investment grade rated multilateral financial institution in Africa with an A3/P2 (Stable outlook) rating from Moody’s Investors Service. AFC successfully raised US$1,150 billion (US$650 million and US$500 million) in 2019, US$500 million in 2017 and US$750 million in 2015 through Eurobond issuances; out of its Board-approved US$5 Billion Global Medium-Term Note (MTN) Programme. All Eurobond issues were oversubscribed and attracted investors from Asia, Europe and the USA.

AFC’s investment approach combines specialist industry expertise with a focus on financial and technical advisory, project structuring, project development and risk capital to address Africa’s infrastructure development needs and drive sustainable economic growth. AFC invests in high-quality infrastructure assets that provide essential services in the core infrastructure sectors of power, natural resources, heavy industry, transport, and telecommunications. To date, the Corporation has invested over US$7.2billion in projects within 32 countries across Africa.

Deepak Dave

Deepak Dave

Deepak Dave

Chief Risk Officer at African Trade Insurance Agency

Deepak filled the newly created Management position of Chief Risk Officer in February 2020. The position is part of ATI’s medium-term strategy to strengthen its overall risk management function.

Deepak brings over 20 years of global experience in banking, capital markets and private finance to the role. He served in senior positions at GE Capital, Export Development Canada and Barclays Investment Bank. Deepak also founded Riverside Advisory, his most recent position, where he provided senior advisory services to Lion’s Head Global Partners for an African Development Bank facility, the Trade & Development bank on business strategy and Adventis Limited on product development. He holds a Bachelors from McGill University and a Masters from the University of London.

African Trade Insurance Agency

Deepak Dave

ATI was founded in 2001 by African States to cover the trade and investment risks of companies doing business in Africa. ATI predominantly provides Political Risk, Credit Insurance and, Surety Insurance. In 2019, ATI closed the year with exposures of USD6.4 billion and continued to post record results for the eighth consecutive year with 132% growth on the net profit over 2018 owing to strong demand for ATI’s insurance solutions from the international financial sector and from African governments. Since inception, ATI has supported USD62 billion worth of investments and trade into Africa. For over a decade, ATI has maintained an ‘A/Stable’ rating for Financial Strength and Counterparty Credit by Standard & Poor’s, and in 2019, ATI obtained an A3/Stable rating from Moody’s.