POWERING & FINANCING DEVELOPMENT
ENERGY INFRASTRUCTURE: HOW TO CLOSE THE POWER GAP?
“In the past, we’ve relied on governments to power our countries; we now need to bring in the private sector to help empower our economies and people,” said Cyril M. Ramaphosa, Deputy President of South Africa and now President of the ANC ruling party at the World Economic Forum last year. The same body agreed that closing Africa's power gap would result in a 30% increase in economic growth across the continent. However, even with the importance of this goal broadly recognized and increased commitments of private governmental and institutional funds, Africa remains behind on 2020 SDG Energy Infrastructure Goals. What is needed to speed up development in this critical sector? What role do power producers, institutional funders, governments and suppliers of critical resources such as natural gas play in the galvanization of this industry. Most importantly what needs to change to see faster development in the industry that could unlock up to 30% of the continent's economic growth?
Jake Cusack, Managing Partner, CrossBoundary
Jake Cusack is co-managing partner of CrossBoundary, an investment advisory firm that unlocks private capital to drive positive change in frontier markets. In 2015, the firm launched CrossBoundary Energy, an investment vehicle for distributed solar energy generation in Africa that has commercial solar projects operating in Kenya, Rwanda, and Ghana, and is investing into mini-grids for rural electrification. Prior to CrossBoundary, Jake served as a Marine Corps officer, receiving the Bronze Star for actions in Iraq, and later worked for Abraaj Capital. Jake has an MBA from Harvard Business School, a MPP from Harvard Kennedy School, and a B.A. from the University of Notre Dame.
Moses Esema, Vice President - Global Renewable Energy, GE Capital
Moses Esema is a Vice President in the Energy Financial Services (EFS) arm at GE Capital, based in New York. Currently, he focuses on enabling development and co-investment in renewable energy projects in emerging markets of strategic interest. Prior to EFS, Moses worked in the Clean Energy team at the World Bank, served as an energy policy advisor to the Government of Liberia, and worked as a senior consultant at Booz Allen Hamilton. Moses earned his MBA and MPP from Harvard Business School and Harvard Kennedy School, respectively, and a B.S. in Economics from University of Pennsylvania's Wharton School.
Cross country roads, rail, ports, LNG facilities, power plants. Mega-Projects comprise the most important infrastructure projects across the continent. They can revolutionize the ability for citizens to travel across their country, import goods and resources, and close the energy and infrastructure gaps that hold back countries and broader regions. They also come with significant network benefits to local and regional economies. Why then is it, that mega-projects are often the hardest ones to get off the ground? What are the key constraints that hold back the implementation of game changer roads, ports and power plants? And most importantly, what is the role of infrastructure players, IFIs, project financiers, and national governments in breaking those constraints?
Enos Banda, CEO, Anergi
Enos Banda is the CEO of Anergi, an Africa focused power and infrastructure investment company founded as a joint venture by the African Finance Corporation and Harith Capital that combines both renewable and non-renewable power assets in Africa. In his position as CEO, Enos manages the joint venture with 1,786 MW of gross operational and under construction capacity that will supply reliable energy to over 30 million people in 5 African countries. Enos has a wide-ranging background which includes time in investment banking, where he served as the Sub-Saharan Africa Head for Global Investment and Corporate Banking and Country Head for two leading global investment banks (HSBC and Credit Suisse). His experience in the electricity sector includes service as the regulator of the South African electricity industry and CEO of Eskom Enterprises (Pty), the asset formation and maintenance arm of the Eskom Group, the largest producer of electricity in Africa. Enos has also served as the CEO of Freetel Capital Group, a private investment and advisory group focused on Africa and Africa Phoenix Investments Limited a South African based investment holding company. A lawyer by training, Enos has also been admitted to the New York and South Africa Bars.
INTRA-AFRICAN TRADE DEVELOPMENT
At Independence, many African countries inherited infrastructure that was suited to colonial trade. This meant railroads to ports, for export to the colonial power. The demand through these corridors of extraction, the creation of national borders, coupled with war, governance issues, have hampered the development of intra-African trade. In light of this, how do countries – and the continent as a whole – build such trade? This is a question of the cross-border movement of people, goods and capital.
Dr. Yemi Osindero, Managing Partner, Uhuru Investment Partners
Dr. Yemi Osindero is the Managing Partner of Uhuru Investment Partners based in Lagos, and has over 18 years of investment banking, private equity and operating experience. He most recently co-headed Africa Private Equity for SCPE, where he was instrumental in building and had oversight for over $900 million of investments across the continent. He sat on the Boards of several portfolio companies including Seven Energy, Union Bank of Nigeria, GZI and Copperbelt Energy Nigeria. He was actively involved in portfolio management and value creation at these companies, driving the operational transformation and chairing the Credit Committee at Union Bank of Nigeria and several other Board Committees at investee companies. Prior to this, Mr. Osindero co-founded Virgin Nigeria Airways in 2005, and was its Chief Operating Officer and a member of its Board for 5 years, from its inception. He was previously an Investment Manager at Virgin Management, which acted as investment manager to Sir Richard Branson's Â£20 billion Virgin Group, overseeing strategic initiatives and managing exits for portfolio companies. Before that, Mr. Osindero provided financial and strategic advice to Private Equity investors at Hawkpoint Partners. He started his career in the Investment Banking group at Goldman Sachs. Mr. Osindero holds a BEng (First Class Hons) and PhD in Chemical Engineering from Bath University.
Dr. Temi Abimbola, AfDB
Temilade (Temi) ABIMBOLA, is a Lead Advisor to the Senior VP of the African Development Bank (AfDB) where she is part of the team working on the Bank's African Transformative Agenda and the implementation of the Bank's Ten Year Strategy, through its High 5s (which focus on Light up Africa; Feed Africa; Industrialize Africa; Integrate Africa; and, Improve Quality of Life in Africa. Prior to her current role, she was the Division Manager for Program Design & Development Division of the African Development Institute at the AfDB. Before joining the AfDB, she was an Associate Professor at Warwick Business School, The University of Warwick, England; and an Adjunct Professor of Quantitative Analysis for Decision Making at CEIBS (China European University), Accra Ghana. She holds a PhD in Management Science, from Aston Business School, Aston University, UK. Prior to embarking on her career in academia, she had worked with Shell UK (Downstream Oil) as part of the UOTS team; at the Corporate Relations Department at the HQ of Unilever Plc (UK); her further work experience include those at the British-American Chamber of Commerce (UK); the Crown Prosecution Services (UK), among others. In addition to her industry experience in the areas of corporate strategy; organizational identity and reputation; market and competitive analysis; she has acted as consultant for numerous FTSE 250 companies including, Cadbury/Schweppes, Barclays Plc. (UK); Santander Bank (formerly Abbey Plc.); public organizations including BBC Radio; BBC News 24; governmental institutions such as the Government of Botswana (Department of Education), the European Union and, Department of Trade and Industry (DTI) in the UK. Dr. Abimbola is a topical speaker on Africa's financial and economic development at various fora including as an invited speaker at Harvard Business School (February 2011) on African Economic Development and its Relationship with China and (February 2017) on Impact Investing In Africa: The Next Partnership Frontier?; invited by prestigious Wilton Park Centre as participants at the meeting of Central Bank Governors, Minister of Finance (among others) on African Economic Development and Risk (July 2010). She is a UK Financial Services Authority (FSA) Certified Director and has extensive practice experience with Communisave, on not-for profit, participatory, interest free organization, in the UK. Temi is a member of the Royal Institute of International Affairs (Chatham House); Institute of Economic Affairs and Royal African Society.
Natznet Tesfay, Director - Africa, Economics and Country Risk, IHS Markit
Natznet Tesfay is Director of Africa within Economics and Country Risk at IHS Markit. Ms. Tesfay leads development of the Africa Open Source (OSINT) inputs and horizon scanning infrastructure, drawing on a range of Indicators & Analytics methodologies such as geospatial analysis and scenario modelling techniques. Natznet contributes directly to business growth, shaping IHSM's SSA business development strategies, advising C-level executives on market entry and risk management, and African governments on leveraging their natural resource potential for economic growth.
K.C. Obioha, President, Clear Essence Cosmetics
Kanu C. Obioha is currently the Executive Vice President, Bluefield Associates, Inc. and President, Clear Essence Cosmetics (USA), Inc., both of Ontario, California. He has a very successful career in several strategic corporate institutions worldwide. These include stints with the former Anambra State University, Enugu, Nigeria as a senior faculty member in the Earth Sciences department; Chairmanship of the old Imo State Utilities Board, Owerri, Nigeria, CEO of Summa Engineering Company, a civil engineering company in Lagos, Nigeria; Committee member of the Nigerian Technical Committee on Privatization and Commercialization (TCPC) now Bureau of Public Enterprises (BPE), Group Board Member of Nigerian National Petroleum Corporation (NNPC), Special Adviser to Navy Commodore James Aneke, one-time Military Governor of Imo State. He has participated actively as a member of several private-sector U.S. trade delegations to Sub-Saharan African countries and has developed parallel expertise in export development and promotion in a good number of U. S. industries that have invested in Africa. As a result, Bluefield Associates, Inc. won the U.S. Export-Import Bank award as the small business exporter of the year. Kanu C. Obioha has also been appointed by the U.S. Secretary of Commerce as a member of the Inland Empire Chapter of the District Export Council. He has recently being appointed to the Advisory Board of the United States Export-Import Bank. OBIOHA is an alumni of Government College, Ibadan, Nigeria. Obtained a first degree in Physics from Bowdoin College, Maine and a Masters degree in Engineering from Columbia University in the City of New York, an Ivy league institution. He is married to Lilian Amaka Obioha, nee Chukwuani and has 3 children, Ogbonna, Nnenna and Fuchi.
Dr. Ify Ogo, UN Economic Commission for Africa
Ify Ogo is a Fellow at the African Trade Policy Centre of the United Nations Economic Commission for Africa working on the African Continental Free Trade Area, Africa and Emerging Economies, Digital Trade/E-Commerce and Regional Integration. Ify has worked as a consultant with the African Development Bank, Mandela Institute for Development Studies, and the Presidency of Nigeria in the areas of economic development, particularly, governance, trade, and investment. Also, she has served as Deputy General Counsel of Generation Enterprise in Nigeria. Ify holds a BA in Law and Politics, an LLM in Law and Development from the University of London, and a PhD in Law from Maastricht University.