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MOZ2013 MAPUTO. Presentation By : Hussein Iman Chief Investment Officer South Africa Regional Resource Center African Development Bank. Who We are. AfDB is the Pan-African Multilateral Development Bank

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Presentation By : Hussein Iman Chief Investment Officer

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MOZ2013

MAPUTO

Presentation By :

Hussein Iman

Chief Investment Officer

South Africa Regional Resource Center African Development Bank


Who We are

  • AfDB is the Pan-African Multilateral Development Bank

  • Infrastructure Finance, Private Sector Development, and Regional Integration are institutional top priorities

  • AfDB leverages its AAA balance sheet to support the economic development in its regional member countries

  • AfDB has consistently been a major financier to the Extractive Industry & Energy Sector in Africa


AfDB has 2 lending windows: Public and Private

AfDB’s lending operations

Public window

Governments or

state owned enterprises

Sovereign

Concessionary terms

  • Private window

  • Privately owned enterprises - “Financially strong” government owned enterprises

  • Non sovereign

  • Commercial terms

Recipient

Guarantee

Financial terms


Upstream – Upstream gas infrastructure, Upstream production for Indigenous entrepreneurs (oil/gas)

Midstream – Gas Processing Plants, Pipelines (oil/gas), Storage (oil/gas)

Downstream – Refineries, Petrochemical/Fertilizer Plants, LNG Plants

The AfDB finances projects in Oil &Gas & Coal Sectors to promote availability of cleaner energy resources and promote local value addition

4


  • What the ADB is doing in the Mining Sector

  • Increase the impact of Mining Sector in RMCs’ Social and Economic development

  • Build infrastructure support with highly integrated networks (Power, roads, railways and ports)

  • Monitoring and Enforcing Environmental compliance

  • Act as a :

    • Financier and invest our financial resources to pursue economic development goals ahead of profit

    • Advisor and leverage our knowledge of sustainable development practices

    • Partner and help mobilise our public and private sector counterparts in solving development issues


Lessons Learnt from the Bank’s intervention in the extractive sector financing

  • Local participation in is key to maximizing benefits from the sector (public or private)

  • Role of Development Financial Institutions – (Advisory, financiers including infrastructure & monitoring )

  • Local content development - SME business linkages

  • Work force development - Education

  • Enabling business environment - Legal and Regulatory framework- African Legal Support Facility

  • Strong Institutions – key to the realization of project benefits ( Environment, Finance, Mining & Mineral, Education etc.,)


Senior Debt – tenor and currency adapted to project needs; debt arranging capacity:

African Financing Partnership– DFI co-financing platform

A-B Syndication Program– leveraging the AfDB Preferred Creditor Status

Guarantees – partial risk, partial credit

Subordinated Debt

Equity – direct, or indirect (equity funds)

Technical Assistance

The AfDB selects its financial instruments to meet investee company’s needs

7


Policy Level– foster policy design, promulgation & implementation

Legal and Regulatory framework- African Legal Support Facility

Technical Assistance for capacity building

Specific Local content programs- SME linkages programs, LOC to financial institutions

The AfDB strongly supports Local Content Development

8


A public-private partnership between the GOSA, GOM and Sasol

Examples of selected projects

SASOL natural gas project

  • South Africa - Mozambique

  • Investment ZAR 8.5 bn

  • ADB loan ZAR 550 mn

  • ADB roles

    • Long term debt

    • Reduced cost of PRI

  • Benefits

    • Reduction of air pollution

    • Jobs

    • Social benefits

    • Regional integration

  • Capacity

    • 856 KM

    • 122 -183(MGJ/a) per annum


Kenmare Resources – World Class Asset

Moma Titanium Minerals Mine in Mozambique

  • One of the world’s largest known titanium minerals deposits with >200 mt of contained ilmenite

    • Phase Iapprox capacity:-800 ktpa ilmenite, 50 ktpa zircon, 14 ktpa rutile

      ~7% OF GLOBAL FEEDSTOCK SUPPLY

  • Phase II approx. capacity:

    -1.2 mtpa ilmenite, 75 ktpa zircon, 21 ktpa rutile

    ~10% OF GLOBAL FEEDSTOCK SUPPLY


  • the Mozambique natural gas project, on stream 2004

    • US$1,2bn project comprised:

      • Pande and Temane field development;

      • Central Process Facility (CPF) construction; and

      • 26-inch Temane to Secunda 865km pipeline

    • Equity in upstream:Sasol 70% (Operator), CMH 25%, IFC 5%

    • Equity in pipeline company:Sasol Gas 50% (Operator), CMG (25%), iGAS (25%)

    • Currently produces ~300 MMscf/d

    • A pioneering project in partnership between Sasol and the Mozambique and South African governments


    Examples of selected projects

    Nigeria Liquefied Natural Gas Project

    • Nigeria

    • Investment USD 2.1 bn

    • ADB loan USD 100 mn

    • ADB roles

      • Political risk mitigation

      • Complementary financing

      • Advisor to local banks

    • Benefits

      • Reduce gas flaring

      • adds value to a natural resource

      • Jobs

      • Social benefits

    • Capacity

      • Additional processing capacity of 1.334 mscfd


    Examples of selected projects

    HASDRUBAL OIL AND GAS FIELD DEVELOPMENT PROJECT

    • Tunisia

    • Investment USD 1.3 bn

    • ADB loan USD 150 mn

    • ADB roles

      • Corporate Loan

      • Financier during difficult time

      • Advisor

      • ESMS

    • Benefits

      • Import substitution

      • Revenues to Government

      • foreign exchange earnings

      • Infrastructure development

    • Capacity

      • 150 MCF/day

      • Onshore gas processing 16,000 b/d of oil equivalent

    During the financial crisis, the Bank played a countercyclical role


    Examples of selected projects

    EGYPTIAN REFINERY COMPANY PROJECT

    • Egypt

    • Investment USD 3.5 bn

    • ADB

      • Senior Loan USD 200 mn

      • Sub Loan USD 25 mn

    • ADB roles

      • Financier during difficult time

      • ESMS

    • Benefits

      • Import substitution

      • Revenues to Government

      • foreign exchange earnings

      • Infrastructure development

    • Capacity

      • 152,500 barrels/day

    During the financial crisis, the Bank played a countercyclical role


    Thank you

    Hussein IMAN

    [email protected]


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