WELCOME
AFRICAN DEVELOPMENT BANK GROUP PRIVATE SECTOR OPERATIONS
Growth through
Private Equity Investments in Africa
9th June 2011 from 8.30 AM to 5.30 PM Lisbon Congress Center-Auditorium III
For the African Development Bank (AfDB) Private Equity (PE) is a key pillar for the development of the private
sector in Africa. Over recent years, the AfDB has strongly grown its private equity investment activity and
has committed more than USD 1 billion to private equity investments, with the majority being indirectly
through private equity funds. These investments have helped develop investor interest in African Private
Equity, both domestic as well as foreign, at a time when the number of private equity funds operating in
Africa grew from a handful in the early 1990s to well over 200 at present. AfDB’s support to the Private
Equity Industry plays a critical role in strengthening the profile of the African PE industry and thereby in
stimulating the flow of capital to the African private sector. The AfDB also believes that, the African Venture
Capital Association (AVCA), as the industry association for the continent has a central role to play in further
establishing a strong African Private Equity industry. Private Equity investments enhance the private sector
development in vital sectors for the continent’s growth including infrastructure, agribusiness, health, SMEs,
Financial etc.
Private Equity Investments hold the promise of accelerating private sector growth on the continent due to
their ability to simultaneously address the financial and human constraints. They inject much needed capital
into investee companies and actively participate in the management of these companies, helping to transfer
valuable technical and managerial skills, improve corporate governance, and generally improve
international best practice in business management. Indeed, Private Equity funds offer a mechanism through
which experienced business building skills can be deployed across simultaneously to the benefit of several
business entities.
The side event will provide a unique platform for private equity industry participants to showcase the African
private equity asset class. It will include portfolio company case studies to help illustrate the positive power
of private equity investment. The event will include panel discussions on themes of interest to the broader
African PE Industry as well as AfDB’s shareholder base and potential investors.
The objective is to:
•Expand the knowledge of PE in Africa and AfDB’s role in developing the industry.
•Highlight the continent’s huge potential for profitable investment.
•Within the wider ADB network and ecosystem, provide a networking platform for Fund Managers, CEOs,
AfDB Shareholders, Private Investors, Development Financial Institutions (DFIs), and Sovereign Wealth Funds
(SWFs).
•Encourage partnerships with organizations and institutions to reinforce efforts of attracting further private
sector investment into the continent.
•Encourage partnerships with organizations that are already investing on the continent and efforts made to
encourage larger scale investment.
•Showcase case studies provided by General Partners and Entrepreneurs.
8:30 - 9:00 Registration and Welcoming Tea/Coffee
9:00 -9:30 African Development Bank (AfDB) Welcoming Sessions Tim Turner - Director, Private Sector and Micro-Finance Department, AfDB
The role of AfDB in developing Africa’s Private Equity industry Martin Poulsen - Chief Private Equity Officer, AfDB
9:30 - 10:10 African Private Equity – The Central Role of Industry Associations
African Private Equity set in a global context Carlos Perry – COO, Emerging Markets Private Equity Association (EMPEA)
The African Venture Capital Association (AVCA)’s Role in Strengthening the African Private Equity Industry
Tshepidi Moremong – Chairperson of Board, African Venture Capital Association ( AVCA)
10:10 - 10:30 Coffee Break
10:30 -11:50 Panel Discussion I: How to access African and International Private Equity Investors? Moderator: David Ashiagbor - Economic Advisor, Commonwealth Secretariat
How do Sovereign Wealth Funds, Pension Funds, Insurance Companies look at the opportunity?
What is the link between domestic and international LPs?
Panelists: Nkosana Moyo – Vice-President, COO, African Development Bank Ephraim Letebele – CEO, Botswana Public Officers Pension Fund (BPOPF) Michael Addo – Independent Consultant and Former General Manager,
Investment, Social Security and National Trust Insurance Tshepo Mahloele CEO, Harith Alessandra Pasian – Senior Banker, European Bank for Reconstruction &
Development (EBRD) William Knight – Senior Adviser, Homestrings /Campbell Lutyens
11:50 - 13:00
Fund Managers Showcase Selected fund managers to be invited to make brief presentations on their achievements to date.
AGENDA
PROGRAMME
Moderator: Carlos Perry, COO, Emerging Markets Private Equity Association (EMPEA) Showcased Fund Managers:
Ron Den Besten – Managing Partner, Aureos Advisers Limited Panos Voutyritas - CIO, Kingdom Zephyr Mehdi Tahiri – CEO, Argan Invest Aziz Mebarek – Partner, Tuninvest Stephen Murphy – Managing Director, Citadel Capital John Taylor – Director, New Africa Mining Fund
13:00 - 14:00 Lunch
14:00 - 15:00 Panel Discussion II: Strengthening the African Private Equity Ecosystem: how to lift African Private Equity to the next level? Moderator: Tokunboh Ishmael, African Venture Capital Association (AVCA)
The General Partners Community – how to enhance collaboration?
Which aspects of the ecosystem need strengthening? By whom?
How can the DFIs help?
Speakers: Bobby Pittman - Vice president, Infrastructure, Private Sector & Regional
integration, AfDB Papa Ndiaye – CEO, AFIG Advanced Finance & Investment Group Nick Rouse – Managing Director, Frontier Markets Fund Managers Tarun Brahma - Senior Investment Officer, FMO Sunil Benimadhu - CEO, The Stock Exchange of Mauritius
15:00 - 17.00 Entrepreneurs Showcase Selected entrepreneurs backed by PE funds will be invited to make brief presentations of their achievements. Moderator: Runa Alam - CEO, Development Partners International ( DPI) Speakers:
SourceLink Pharma (South Africa) – represented by Max Coppoolse, Managing Director, Investment Fund for Health in Africa
Altea Packaging (Tunisia) – Slim Zeghal, CEO Rouiba (Algeria) – Slim Othmani, CEO Indusalim (Morocco) - Othmane Belhoucine, Managing Director Consolidated Infrastructure Group (South Africa) - Raoul Gamsu, CEO Real People – (East Africa) - Werner Nel, Head of Treasury, Gentec Energy Plc. (Nigeria) - Dipi Khilnani Shareholder & Project
developer and EME & A Project Company ( Nigeria) - Andrew P. Stone, General Manager
Main One Cable Company (West Africa) - Babatunde Dada, CIO
17:00 - 17:30 Cocktails and opportunity for final visit of stands and further networking.
Nkosana D. Moyo is a national of Zimbabwe. He holds a PhD in Physics from Imperial
College, University of London and an MBA from Cranfield School of Management, UK,
an Eisenhower fellow. He is married and has two children.
Before joining the AfDB, Dr. Moyo served at Actis Capital LLP as partner and Chairman
of the Actis Africa Advisory Board. He also served on the boards of a number of
companies in the cement, sugar, finance, tourism, mining, airline and food sectors. He
served as well as Minister of Industry & International Trade of Zimbabwe.
He is currently on the Board of Trustees of the Investment Climate Facility (ICF) and a
Co-Chair of the World Economic Forum Global Agenda Council on the future of Africa.
AFRICAN DEVELOPMENT BANK GROUP
AfDB STAFF:
Dr. Nkosana D. Moyo
Vice President & Chief Operating Officer, African Development Bank
Bobby J. Pittman
Vice-President for Infrastructure, Private Sector, and Regional Integration, African
Development Bank
Bobby J. Pittman is the African Development Bank's Vice President for Infrastructure, Private Sector, and Regional Integration.
In this capacity, he leads a team with the mission to mobilize and deploy finance, expertise and partnerships for infrastructure, private sector and regional integration in order to contribute to the development and social progress of Africa. Mr. Pittman manages a portfolio of more than $23 billion in active projects across 52 African countries, including more than $7 billion in non-sovereign operations.
Previously, Mr. Pittman held senior positions at several U.S. government agencies, including the National Security Council, Treasury Department, State Department and White House.
From 2006 to 2009, he served as the Special Assistant to the President and Senior Director for African Affairs in the White House. In that capacity, he was the President's lead advisor on Africa issues as well as the President’s Africa Personal Representative (APR) to the G8. During his tenure, Mr. Pittman was part of a White House team which oversaw the largest increase in foreign assistance for Africa in U.S. history, including the design and execution of key initiatives such as the Africa Financial Sector Initiative, President’s Malaria Initiative (PMI), President’s Emergency Plan for Aids Relief (PEPFAR), Africa Education Initiative, and Millennium Challenge Account (MCA).
From 2004 to 2006, Mr. Pittman served as Deputy Assistant Secretary for International Development Finance and Debt at the Department of the Treasury. He was a key architect and the lead U.S. negotiator of the 100 percent debt relief proposal endorsed by the G8 at the Gleneagles Summit in July 2005. To date, this effort has delivered more than $40 billion in debt stock cancellation for the world’s poorest countries.
Mr. Pittman graduated summa cum laude from Florida State University, studying economics, computer science and mathematics. He received an M.A. in economics from the University of Chicago, where he also did doctoral work in applied economics. He is currently an adjunct professor at Georgetown University.
Martin Poulsen
Chief Private Equity Officer
Private Sector and Microfinance Department, African Development Bank
Mr Poulsen joined the African Development Bank in September 2009 and has
responsibility for the Bank’s private equity portfolio. Between 2003 and 2009, at the
European Investment Bank (EIB), he led the EIB’s private equity investment
activities in the African, Caribbean and Pacific regions (03-06) and in renewable
energy private equity funds within the European Union (07-09).
Prior to joining the EIB, he was a member of the team that established Kennet
Capital, one of Europe’s leading early stage technology venture capital firms. Before
switching to private equity, as an employee of the Commonwealth Development
Corporation (CDC), Mr Poulsen worked in Côte d’Ivoire and Swaziland, designing and
building factories at CDC-owned agribusiness companies. Earlier, he worked for
Computer Sciences Corporation (CSC) as a change management consultant in the
business process re-engineering field.
He has a Masters degree in Manufacturing Engineering and a first class Bachelor’s
degree in General Engineering from Cambridge University.
Tim Turner
Director, Private Sector & Microfinance Department, African Development Bank (AfDB)
Mr. Tim Turner a Canadian national is the director of the private sector and microfinance department at the African Development Bank (AfDB). Tim joined the AfDB in 1996 as the inaugural head of risk management. Previously, he worked for Smith Barney, an American Investment Banking firm, in both London and New York. He holds an engineering degree from the University of Toronto and an MBA from IMD in Switzerland.
MODERATORS
Tshepidi Moremong
Chairperson, African Venture Capital Association
Ms. Moremong currently holds the position of Chairman of the Board of Directors of the African Venture Capital Association. Ms. Moremong worked as a Vice President of Renaissance Capital in South Africa for a year where, again, she originated, analysed and structured transactions across Southern Africa. She has recently joined 8 Miles, a pan-African private equity fund as a Principal. Ms. Moremong has ten years’ experience in private equity and corporate finance, the last seven of which has been in Southern Africa. From 2002 to 2007, Ms. Moremong worked as an Investment Executive for Aureos Capital, a global emerging markets
private equity fund manager which focuses on small and medium corporates. Ms. Moremong was initially involved in the fund raising of three of Aureos’ regional private equity funds and then moved to Johannesburg, South Africa to join the investment team investing the Southern African fund. In her early career, Ms. Moremong gained experience at the World Bank in Paris, Trammell Crow Corporate Services in Connecticut, USA, Ernst & Young Consultancy in Botswana and at Goldman Sachs in London. Ms. Moremong has a BA in Economics and Political Science at Swarthmore College, Pennsylvania, USA and gaining her MBA from Columbia Business School in New York.
Carlos Perry
Chief Operating Officer, EMPEA
As EMPEA’s Chief Operating Officer, Carlos Perry manages EMPEA’s research, membership, events and business development activities. He is also responsible for EMPEA’s financial and day-to-day operations, and he plays a leadership role in developing new strategic partnerships for the organization. Before joining EMPEA, Mr. Perry was a strategy consultant at McKinsey & Company, working with financial services, media and telecom clients in North America and Asia. Previously, Mr. Perry served as Executive Vice President – International for the Yankee
Group, a technology research firm, where he spent seven years building the company’s fast-growing international operations. Based in London and Boston, he was a member of the senior management team that successfully sold the company to Reuters in 2000. At Yankee, Mr. Perry launched new products, subsidiaries and joint ventures in markets including Japan, the U.K., Australia, Brazil, Mexico, China, Korea and South Africa. He also led consulting engagements related to telecom liberalization in Brazil, India, the UAE, Thailand and other markets, including work for venture capital, private equity, investment banking and government clients. Prior to Yankee Mr. Perry was an entrepreneur and consultant in St. Petersburg, Russia and Budapest, Hungary. Mr. Perry holds an MBA in finance from Columbia Business School, a Masters of Law and Diplomacy from the Fletcher School at Tufts University and a BA in international politics from the Elliott School at George Washington University.
Ms. Runa Alam
Chief Executive Officer & co-founding partner, Development Partners International LLP
Ms. Alam is a co-founding partner and CEO of Development Partners International LLP. DPI is a private equity fund advisory business who are the investment adviser to African Development Partners I, LLC and ADP I L.P. (together, ADP I), a private equity fund which invests throughout Africa. Ms. Alam has 28 years of investment banking, emerging market management and private equity experience. Prior to DPI LLP, Ms. Alam was Chief Executive of Kingdom Zephyr Africa Management; director of the AIG Infrastructure Fund, managed by
Emerging Markets Partnership. She holds a B.A. in International and Developmental Economics from the Woodrow Wilson School of Princeton University (1981) and an MBA from the Harvard Business School (1985) and was also a Harry S. Truman Congressional Scholar.
David Ashiagbor
Economic Adviser, Commonwealth Secretariat
David joined the Commonwealth Secretariat in May 2007. He leads the Secretariat’s investment and private sector development programmes, including the Commonwealth Private Investment Initiative (CPII). CPII has helped to raise US$800 million for investment in Africa, South Asia and the Pacific. David previously worked for the International Finance Corporation in Cote d’Ivoire, Cameroon and South Africa, on a variety of issues from SME development to public private partnerships and infrastructure development. Prior to IFC, he was a Project
Officer responsible for Infrastructure at the Agence Française de Développement in Ghana. David has also worked as an Analyst in the Corporate Finance Department CAL Bank in Accra, where he set up and managed the bank’s brokerage subsidiary. Mr. Ashiabor is a graduate from the London School of Economics and holds an MBA from Imperial College, London.
SPEAKERS
Ephraim D. M Letebele
Chief Executive Officer/Principal Officer, Botswana Public Officers Pension Fund
Mr Letebele joined the Botswana Public Officers Pension Fund (BPOPF) in September 2005 as Chief Executive Officer/Principal Officer. Having been involved at the initial stages of the establishment of the BPOPF, that afforded him the opportunity to gain experience in process and coordinating policy implementation and marketing the activities of the largest retirement fund, which he heads with unparalleled zeal and loyalty. Similarly, he is in the forefront of challenges
facing the pension fund industry which plays a pivotal role in broad social security issues in the Botswana. Mr. Letebele holds a Bachelor of Commerce degree from the University of Botswana and is an Associate of the Southern Institute of Chartered Secretaries and Administrators. He has previously served on the Boards of the Botswana Accountancy College, Botswana Institute of Accountants and Mascom Wireless (Pty) Ltd. Michael Addo CEO of Crosswinds Ltd
Mr. Michael A. Addo comes with a wealth of experience from the financial services industry in USA and Ghana. Michael is currently the Executive Chairman of Crosswinds limited. Prior to that, he was the General Manager, Investment & Development Division, (GM-IDD) at Social Security & National Investment Trust (SSNIT). There, he provided
investment leadership, direction, and management of the Pension Fund with Asset under Management of over GH ¢2 billion. Mr. Addo managed five departments comprising of Equity, Fixed Income, Portfolio Performance, Measurement & Monitoring, Development and Property Management, with an operating budget of over GH ¢ 100 million. Whist overseeing over 26 listed-equity and 40 unlisted-equity investments, 8 High-rise Commercial properties, 47 Administrative properties, 38 Management properties, 13 Workers’ Estate and 35 Land banks. Michael completely revised the Asset Allocation Policy and Investment Guidelines for SSNIT and secured unanimous Trustee approval for its implementation. Prior to joining us Mr. Addo was the Deputy Managing Director of NTHC Limited an investment banking boutique in Accra where he was responsible for and oversaw the strategic and operational stabilization of the firm. He refocused the company with a renewed vision, mission and direction. He also, stabilized the financial hemorrhaging of the company and turning it into a profitable entity. Mr. Addo is currently a Board Member and the Chairman of the Finance and Audit Sub-committee at Starwin Products Limited, Accra. He has sat on different boards including Prudential Bank and First Atlantic Merchant Bank, Accra, amongst others. He also was the alternate Director for SSNIT at Ghana International Bank, London UK.
Alessandra Pasian
Senior Banker, European Bank for Reconstruction and Development (EBRD)
Alessandra Pasian is a Senior Banker in the Equity Funds Team of the
European Bank for Reconstruction and Development (EBRD).
Since joining EBRD in 1996, Alessandra has worked on many regional private equity transactions focused in the Eastern Europe, Russia and Central Asia. Alessandra serves on the Advisory Boards of selected private equity funds
covering the EBRD region. Prior to joining EBRD, Alessandra worked for two large international banks in the investing banking division. She has a BA in Economics (Siena), a BA in Archaeology and History (London) and a Masters in Finance (Milan). William Knight
Co-founder, Emerisque Brands
Mr. William Knight is a co-founder of Emerisque Brands, a London-based sponsor of private equity transactions in the consumer brands/ retail sector. He is an alternative Asset Investment Specialist who has spent almost his entire career involved with financial development of companies and projects in developing economies. He originally specialized in project finance at Lazard Brothers, following which he spent 18 years in various senior positions in the Lloyds Bank group based in London, Hong Kong and Portugal. Since 1991 he has served in a wide range of non-executive positions as an independent director or adviser based in London.
Ron den Besten
Managing Partner for Southern Africa, Aureos Africa Fund
Ron joined Aureos in 2004, and is Managing Partner responsible for the $ 386 million Aureos Africa Fund’s Southern Africa region and the US$50 million Aureos Southern Africa Fund. Based in Johannesburg, South Africa, he leads the team of professionals investing in Southern Africa Development Community (SADC) countries and is the Aureos Africa partner in charge for portfolio management. Ron has in excess of 24 years of private equity and corporate finance experience gained from institutions such as Gensec Bank Ltd, where he was General
Manager, Private Equity responsible for a team of 14 with assets under management of US$300 million. His portfolios included investments in over 60 listed and unlisted companies. Ron has extensive experience in deal structuring, negotiation, strategic development of, and exit from African companies. He serves and has served on the boards of directors as chairman or non-executive director of companies in a range of sectors, including financial services, agri-processing, chemical, communications, manufacturing and IT services and is a member of numerous investment, audit and remuneration committees. Ron is qualified as a Chartered Accountant, and holds an Honours Degree in Commerce from the University of Johannesburg.
Tshepo Mahloele
Chief Executing Officer, Harith Fund Managers
Tshepo Mahloele is the CEO of Harith Fund Managers, a South African based private equity firm which manages Africa’s first and only 15 year infrastructure equity fund, the Pan African Infrastructure Development Fund (PAIDF). PAIDF is a US$ 630 million fund which reached its first closing at US$625 million on 15 September 2007 from African Investors. Mr Mahloele has over 15 years’ experience in private equity, investment banking and project finance, including responsibility for (i) Public Investment Corporation’s US$2.6
billion Isibaya Fund (ii) a US$600 million DBSA portfolio across Southern Africa; held investment management positions with CDC Group PLC and Rand Merchant Bank. Panos Voutyritas
Chief Investment Officer, Kingdom Zephyr Africa Management Company
Panos is a Partner and Chief Investment Officer of Kingdom Zephyr Africa Management Company, a pan-African private equity company sponsored by Kingdom Holding, the private investment vehicle of HRH Prince Alwaleed of Saudi Arabia, and Zephyr Management LP, a New York based asset manager. He has completed a number of private equity investments in Africa since Kingdom Zephyr’s inception in 2004, and helped raise two funds with commitments exceeding US $600 million. From 1999 until 2002, Panos worked in investment banking and leveraged finance at
Salomon Smith Barney in New York as an Analyst and Associate. In 2002 he moved to Europe as an investment principal at Soros Real Estate Partners, Greece and South Eastern Europe. Panos has a BS in Operations Research & Industrial Engineering from Cornell University. John Taylor
Director, New Africa Mining Fund
John Taylor has a B Eng (Hons) in Metallurgy from the University of Liverpool and is a registered Professional Engineer. He has extensive mining and project experience. Previously employed by BHP Billiton for 29 years, John has worked in several African countries and serves as a director on a number of the mining investee companies of NAMF.
Mehdi Tahiri
Chief Executive Officer, Argan Invest
Mr Tahiri is the CEO of Argan Invest, the private equity arm of FinanceCom Group. He joined this private group in 1999 to build a global PE platform, in a context of opening of the Moroccan economy. Today, after twelve years development, ARGAN’s funds under management represent a global amount of 350 MUSD in three different asset classes: Private Equity, Real Estate & Infrastructures. More than 40 assets has been invested by the four first funds and 16 exit realized with a performing IRR.
During this decade, he was board member of several portfolio companies, chairman of the Moroccan PE association, and since 2006, he is the chairman of different investment committee. After a Moroccan country focus during the 1st step, the launching of the new funds, for this 2nd decade, will be regionally focused starting with the Infrastructure Fund ARIF closed on august 2010 and the current launching of the 3rd Private Equity Fund.
From 1995 to end of 1998, he worked as Senior Consultant at Arthur Andersen in Paris Office within the
Corporate and Recovery Services.
Mehdi Tahiri is graduated from French Engineering School “Ecole des Mines de Paris”.
Stephen A. Murphy
Managing Director of Citadel Capital Institutional Fundraising
Mr. Murphy joined Citadel Capital, the leading private equity firm in the Middle
East and Africa with more than US$ 8.6 billion in assets under control, in 2008.
Prior to joining the firm, Mr. Murphy was head of private placements at
Citigroup Global Markets. With more than 20 years of experience in private
equity fundraising and investment banking, Mr. Murphy held a range of
positions with Salomon Brothers / Salomon Smith Barney in New York, Tokyo
and London starting in 1985. Originally a mergers and acquisitions specialist
who headed Salomon’s European M&A practice in the early 1990s, Mr. Murphy’s career has covered a wide
range of advisory as well as public and private fundraising activities. He executed Salomon’s first lead-
managed IPO in Europe and has handled yankee and convertible bond funding and private placements for
both general partners and private companies. Before re-joining Citigroup in 2001, he held the post of
Managing Director of E*Trade International Capital, where he was, among other things, responsible for
setting up the company’s online distribution of equity offerings via its web portal.
Papa Madiaw Ndiaye
Chief Executive Officer & Founding Partner, Advanced Finance & Investment Group (AFIG)
Mr. Papa Madiaw Ndiaye is the Founding Partner and CEO of Advanced Finance &
Investment Group (AFIG). AFIG is a Mauritius registered private equity fund
Management Company established in 2005 with its main office in Dakar (Senegal),
and additional offices in Johannesburg (South Africa), and Washington D.C. (United
States).
AFIG’s maiden fund is the Atlantic Coast Regional Fund (“ACRF”), a USD 72 million
regional fund focused on growth equity investments in 29 countries in West &
Central Africa. By focusing first on the geographical region from which its principals hail, AFIG seeks to
contribute to the development of the local capital markets, and on the other hand accelerate the growth of
the most dynamic companies, by providing them with much needed capital.
Prior to founding AFIG, Mr. Ndiaye was Investment Director at Emerging Markets Partnership in
Washington. He was one of three partners to raise the $407 million AIG African Infrastructure Fund, which
when launched in 2000, was the largest ever pan-African Fund (about 30% net annual return to date). Prior
to joining EMP, he held senior responsibilities for IFC’s equity and debt investment activities in capital
markets and financial institutions in Africa between 1996 and 2000 and helped launch several landmark
funds in Africa. Papa spent the early part of his career at Salomon Brothers and joined JP Morgan's
Emerging Markets Group in 1992. In 1994, he launched JP Morgan's securities trading in Africa and the
Middle East. In 2000, Papa was named Special Advisor for Economic and Financial Affairs to the President of
the Republic of Senegal and Chairman of the Senegalese Presidential Economic & Financial Advisory Council.
In the same year, he launched MIDROC BVI, a direct investment vehicle for Sheikh Mohammed Al-Amoudi, a
lead investor in the AIG African Infrastructure Fund. He serves on the boards of a number of African
companies and non-profit organizations involved with Africa.
He holds an M.B.A. degree from the Wharton School of Business, an M.A. in International Affairs from the
University of Pennsylvania’s Lauder Institute, and a B.A. in economics from Harvard College. In 2004, he was
selected as a “Young Global Leader” by the World Economic Forum of Davos and then as one of the
‘’Frontier 100 CEOs’’ of the Initiative for Global Development in 2009. He is a citizen of Senegal.
Nick Rouse
Managing Director, Frontier Markets Fund Managers
Fund Manager, the Emerging Africa Infrastructure Fund (EAIF) and GuarantCo
Nick Rouse became Managing Director of Frontier Markets Fund Managers, the Fund Manager of the Emerging Africa Infrastructure Fund (EAIF) and GuarantCo, in May 2005 having worked for Barclays Bank for thirty-three years. Both funds are owned by four European governments: The Netherlands, Switzerland, Sweden and the United Kingdom. His involvement with EAIF dates from the Fund's inception and he was a member of its Credit Committee and a Non-Executive Director between 2002 and 2005.He was also a Non-Executive Director of GuarantCo 2004-2005. Nick had worked in Africa
with Barclays for the seven years preceding his appointment, initially running Barclays Corporate Business in East Africa and more recently as Head of Credit Risk for Africa and the Middle East. EAIF undertakes senior and subordinated debt investments in US dollars or Euros of up to 15-years tenor in Sub-Saharan Africa. It is a Public Private Partnership with US$150 million of equity being used to leverage US$450 million of debt to create a total fund size of US$600 million. Frontier Markets signed the management contract for GuarantCo in December 2006 and has so far completed thirteen transactions totaling US$ 190 million in the telecoms, transport, housing and steel sectors. It too has an extensive pipeline of projects in Africa, India, South East Asia and Latin America. GuarantCo is a credit enhancer providing guarantees of up to 15-years for local currency lending for infrastructure projects in poor countries worldwide. It aims to unlock long-term local currency currently trapped in pension funds and insurance companies without the capacity to invest in anything but government securities and use the funds for private sector infrastructure investment. GuarantCo is also raising new capacity from commercial banks that will give it a Fund size of US$400 million. Sunil Benimadhu
Chief Executive Officer, Stock Exchange of Mauritius (SEM)
Sunil Benimadhu is the Chief Executive Officer of the Stock Exchange of Mauritius (SEM). He has also spearheaded the project to enable the SEM join the World Federation of Exchanges, a key standard-setter in the stock exchange industry. Sunil has been elected President of the African Securities Exchanges Association (ASEA) on the 30th August 2010. He was a member of the Executive Committee of the South Asian Federation of Exchanges (SAFE), and the Chairman of the SADC Committee of Stock Exchanges (COSSE). Sunil is also a regular speaker on emerging markets and on African markets in international stock exchange conferences.
Before joining the SEM, Sunil worked in the Treasury Department of the African Development Bank (ADB). He was the General Manager of the National Mutual Fund Limited in Mauritius and played an instrumental role in the structuring, marketing and setting up of the National Investment Trust Limited, one of the largest investment trusts listed on the Exchange. Sunil Benimadhu holds a MBA in Finance and Investment from the University of Illinois, United States. He also holds a D.E.A in Development Economics and a Maîtrise in Macro-Economics from the University of Aix-Marseille, France.
Aziz Mebarek
Co-founder & Executive Director, Tuninvest/Africinvest Group
In 1994, Aziz Mebarek participated in the creation of the financial group Tuninvest/Africinvest, specialized on private equity and financial advisory services. In that context, he played a leading role in the launching of altogether 11 private equity funds covering Tunisia, Maghreb and several countries of Sub-Saharan Africa, and mobilizing investments from local financial institutions, from bilateral and multilateral development institutions and from private investors from Europe, North America and the Gulf. The total of funds raised amounts to about USD 600 million. Aziz Mebarek is also co-founder and former Vice-Chairman of the African Venture Capital Association (AVCA), located in Nairobi.
Between 1987 and 1994, Aziz Mebarek has occupied various positions within the Tunisacier/Ilva Maghreb Group, where he had the opportunity to steer the industrial and financial restructuring, and finally the handover of the company to the Italian public conglomerate ILVA, privatized in 1994. Aziz Mebarek is an engineer and graduated from Ecole Nationale des Ponts et Chaussées (Paris) in 1987. He also participated to the Tunisian university pilot project « IPEST » (being in charge of Mathematics) and was member of the first scientific council of the Polytechnic School of Tunisia and he is co-founder and first Chairman of the Tunisian Association of High Schools (ATUGE). Max Coppoolse
Managing Director, Investment Fund for Health in Africa
Managing director of IFHA (Investment Fund for Health in Africa) graduated from the University of
Amsterdam with a master's degree in industrial psychology. After graduation, Max worked at Unilever for
11 years, and was responsible for the implementation of the restructuring for the Unilever meat/soup and
tinned food group in the Netherlands. Max gained experience in reorganizing companies in Africa by his
employment as the team leader of an international team which reorganized United Africa Company (UAC)
based in Lagos Nigeria, a company responsible for up to 10% of worldwide profits of Unilever. Companies
with turnovers of EUR 100 million to EUR 500 million were fully restructured using a greenfield approach.
After returning to the Netherlands, Max joined KPN in 1990 as General Manager Business and Mobile
Communication, and was responsible for a turnover EUR 600 million per year and oversaw 7000 employees.
Following his career in general management, Max was employed by Philips from 1993 to 1998 in various
functions, ranging from CEO of Philips Malaysia to General Manager of two media subsidiaries of Philips. In
2000, Max joined Vodafone, where he served as a Director Special Projects.
In 2003, Max became COO of PharmAccess Foundation, and is responsible for all operations of PharmAccess
Foundation. In this function, Max gained extensive experience in the health sector in Africa.
In 2007 Max (together with his partner Onno Schellekens) founded AHSM and IFHA, and since then has
been the Managing Director.
Tarun Brahma
Senior Investment Officer, FMO
Tarun Brahma joined FMO’s Equity Department as senior investment officer in 2008. His focus is on growing FMO’s equity portfolio in the infrastructure sector in Sub-Saharan Africa, with specific attention to the power sector in the region. Tarun returned to FMO after a two year secondment to Emerging Africa Infrastructure Fund, a senior debt/mezzanine fund based in London. Before being seconded he worked for FMO’s Africa Department (2001-2006) focusing on project finance transactions in the energy, petrochemicals and telecommunications sectors in a.o. the Democratic Republic of Congo, Nigeria, Congo Brazzaville, South Africa, Chad, Kenya and Cote d’Ivoire . From 1999-2001, Tarun worked as an economic advisor at the Central Bank of Papua New Guinea. Slim Zeghal
Chief Executive Officer, Altea Packaging Group
Slim Zeghal is currently the CEO of Altea Packaging, a group of companies operating in flexible packaging in Tunisia, France, Morocco, Egypt & Algeria. Today, Altea Packaging is the leading flexible packaging converter in the MENA region with a consolidated turnover of more than $100M, a production capacity in excess of 40 thousand tons per year, a workforce of more than 800 people and a unique footprint in the region
He started his career with Elf-Atochem in the course of his doctorate work before joining the Vivendi - Generale des Eaux Group which he left in 2000 after
having been its Water Division’s Deputy R&D Director. He then joined the Havas Group where he managed its interactive subsidiary Connectworld, after a short stay at the holding company with Jean-Michel Carlo & Alain de Pouzilhac. He then joined the advertising agency affiliate to DDB operating in Tunisia & Algeria, before moving to Cogitel, the Tunisian leader in flexible packaging, which became part of Altea Packaging as a result of an LMBO. He was able to design and execute the development strategy for the Group. Indeed, in 2005, Cogitel took control of the then number two of the sector in Tunisia, before making more international developments in the framework of Altea Packaging, with the acquisition of Roland Emballages in France and the inception of Cogitela in Algeria in 2007, and the successive acquisitions of Optima in Morocco and Porta/Rotopack in Egypt in 2008.
He holds an engineering degree from Ecole Centrale Paris, a Master of Science degree from University of California and a Ph.D. in process engineering. Slim Zeghal is also an active member of ATUGE (French Engineering & Business Schools Tunisian Alumni Association) where he served as Vice-President and of IACE (Arab Business Leaders Institute) where he is a Board Member. He is also a founding and managing member of the Afek Tounes Political Party, and initiator of a significant Art initiative called “Artocraty in Tunisia”.
Slim Othmani
Chairman, NCA-Rouiba Juice
Slim Othmani was appointed as Chairman of NCA-Rouiba Juice, a business owned by
his family in June 2010. He is also vice president and member of the board of Afia
Algeria, an investment made by the Saudi Savola Group.
In Algeria, he is also member of the board of (Petroser, Selectair, Lapal pro, and Discovery Algeria.) founder and vice president of the first Algerian Think Tank CARE, member of FCE (Forum des Chefs d’entreprises), co-founder of the Algerian drink
producers association (APAB), member of the IFU (International Fruit Juice Association) and he leads the Algerian Task Force that wrote the first Algerian Code of corporate governance (www.algeriacorporategovernance.org) Prior to return to Algeria in 1991, he acts as regional sales manager for North Africa in a Canadian technology venture, based in Montreal. From 1991 to 1999, he acts as operation manager in Fruital-Coca-cola. A business also owned by his family and shared today with Equatorial Bottling Company. He holds a degree in computer engineering from the University of Mathematics and computer sciences in Tunis and an executive MBA from the Mediterranean school of business in Tunis. Dipi Khilnani
CEO, Gentec Energy Plc
Dipi Khilnani is CEO of Gentec Energy Plc, a UK based EPC contractor specializing in turnkey solutions for
cogeneration and distributed energy systems with extensive experience in the implementation of small
scale distributed energy projects around the world.
Dipi is a Chartered Accountant (UK - ICAEW) qualified in 1982 and has held many senior positions in
Marketing and General Management and has worked in the energy business for over 23 of his 28 years
work experience. He is a member of the Oil & Gas Advisory Board of UKTI (UK Government-Industry
Consultancy Body) and has undertaken several initiatives to promote the interest of UK industry in the
energy sector.
For more Information on the Event Please Contact:
Martin POULSEN
Chief Investment Officer Private Equity Portfolio Management African Development Bank [email protected] Tel : +216 71 102 938 GSM in Lisbon: +351 924 464 460
Mariam YEO-DEMBELE
Member of Private Equity Portfolio Management and Event Coordinator African Development Bank [email protected] Tel: +216 71 102 936 GSM in Lisbon: +351 924 464 464
Amira ELMISSIRY
Investment Officer Private Equity Portfolio Management African Development Bank [email protected] Tel: +216 71 102 256
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