ANGOLA: AFDB Perspective

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1 Group ANGOLA: AFDB Perspective Treviso& Vicenza 18 July 2013 Mennella Luigi Regional Vice Presidency Office BUILDING TODAY A BETTER AFRICA TOMORROW

2 Number of Days to Open a Business

3 GDP per capita (USD)

4 Investment (% of GDP)

5 Angola - Population By Age Groups

6 Imports of Goods and Services, billion $US Goods and Services Services Goods 6

7 Land use Arable land: 3.2% Permanent crops: 0.2% Other Land: 49.6% Forest area: 47.0% 7

8 What AFDB will cover in Angola in POWER Combined Solar & Windfarm Power Generation 2nd Power Station Cambambe (4x130) Public-Private Partnership GTG 3 Cazenga Rehab Thermal Generation TRANSPORTATION Road Lucusse Zambia Railway Namibe Lubamgo Oshikango Lines Railways National Interconnection 8

9 ECCAS (POP. 124 MILL) ANGOLA BURUNDI CAMEROUN CENTRAFRIQUE CONGO Economic Community of Central African States GABON GUINÉE EQ. RD CONGO SAO TOMÉ ET PRINCIPE TCHAD SADC (POP. 277 MILL) ANGOLA BOTSWANA DEMOCRATIC REPUBLIC OF CONGO LESOTHO MADAGASCAR MALAWI MAURITIUS The Southern African Development Community MOZAMBIQUE NAMIBIA SEYCHELLES SOUTH AFRICA SWAZILAND UNITED REPUBLIC OF TANZANIA ZAMBIA ZIMBABWE 9

10 AfDB Private Sector Financial Instruments Senior Debt Up to 20 years (5 yrs grace period), foreign or local currencies, risk priced Guarantees partial risk, partial credit (long tenors) For specific credits or commercial bank SME programs, risk priced Subordinated Debt Subordinated loans or bonds local currency possible, maximum 15 years (10+5), risk priced Equity Direct investments in banks, DFIs, MFIs, etc, up to 25% With or without board seat, planned exit, commercial returns Technical Assistance grants for studies, Up to USD 1 mn for institutional capacity building programs 10

11 How to work with us 1. An enterprise/project must be located and incorporated in the Regional Member Countries (RMCs) of the Bank, whether promoted by African or non-african investors. 2. An enterprise/project must be majority-owned (51%+) by privatesector investors, or publicly owned with strong financial standing and proven managerial autonomy. 3. Projects for the establishment, expansion, diversification and modernization of productive enterprises (i.e. CAPEX). No direct financing of trade. 4. Investment size determined by Single Obligor Limit and other prudential considerations. 11

12 Private Equity Funds Participated by AFDB (1/2) South Africa Infrastructure Fund SAIF Infrastructure South Africa AIG African Infrastructure Fund AIG Infrastructure Pan-African ECP Africa Fund II PCC (EMP Africa Fund LLC) Pan African Infrastructure Development Fund Maghreb Private Equity Fund II (Mauritius) PCC ECP II Generalist Pan-African PAIDF Infrastructure Pan-African MPEF II Generalist MENA Atlantic Coast Regional Fund LLC ACRF Generalist Pan-African Growth Finance GROFIN SMEs Pan-African Emerging Capital Partners III ECP III Generalist Pan-African Agri-Vie Fund AGRIVIE Agribusiness Pan-African Pan African Investment Partners II Limited PAIP II Generalist Pan-African AfricInvest II Fund AIF II Generalist Pan-African 12

13 Private Equity Funds Participated by AFDB (2/2) African Infrastructure Investment Fund 2 (Mauritius) AIIF II Infrastructure Pan-African Investment Fund for Health in Africa IFHA Health Pan-African Emerging Africa Infrastructure Fund EAIF Infrastructure Pan-African Citadel Capital Joint Investment Fund L.P. (Africa Joint Investment Fund - AJIF) CITADEL Generalist MENA Argan Infrastructure Fund ARIF Infrastructure Africa Capitalization Fund ACF Financial Intermediation North & West Africa Pan-African African Agriculture Fund AAF Agribusiness Pan-African Catalyst Fund Catalyst Generalist Pan-African New Africa Mining Fund II NAMF II Mining Pan-African 13

14 ADF PARTIAL CREDIT GUARANTEE Assist LICs with low risk of debt distress and adequate debt management capacity to access capital markets Guarantee against the risk of sovereign default ADF UA 75 million PBA Deducted Leverage 4 X ADF Guarantee 2 X UA 300 million Guarantee Multiplier Investment UA 600 million investment

15 PRIVATE SECTOR FACILITY Credit enhancement to the ADB on a portfolio of transactions in LICs Extends ADB s ability to mobilize additional private investment in LICs PSF Leverage 4 X UA 165 million seed contribution ADB financing 5 X UA 660 million additional PSO Multiplier Additional LIC projects UA 3.3 billion additional LIC total projects investment

16 AFRICA 50 FUND Africa s infrastructure financing gap stands at USD 50 billion a year and is growing Africa 50 Fund will significantly narrow the gap Aim to attract approximately USD 100 billion worth of local and global capital and requires an investment of USD 10 billion Two Business lines: Project Development and Project Finance Funding Structure:

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