28-29 April 2020Sofitel Abidjan Ivoire hotel, Côte d’Ivoire

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Testimonials

Now in its fifth year, TXF Africa returns to Abidjan to decipher the hottest challenges and opportunities across the continent.

Join local and international ECAs, SOEs, DFIs, MFIs, borrowers, exporters, commercial banks, law firms, insurers and governments in Abidjan this October.

With opportunities like this on the horizon, it’s no surprise that Africa is piquing interest.

TXF Data shows more deals closed in Africa than any other region in 2019, comprising 7.7% of global volumes. TXF Africa delves into booming industries such as infrastructure and power, African free trade, West Africa’s dominance in the global cocoa market,

updates from Nigeria, and the importance of sustainability, so you can identify opportunities with those leading the charge.

2018 DELEGATE BREAKDOWN

• Corporates: 35%

• Financial institutions: 33%

• MFI/DFI/ECA: 15%

• Governments: 6%

• Insurers: 4%

• Law firms: 3%

250+ Attendees

40+ Speakers

150+ Companies

More content:2 days

2 streams

35%

33%

15%

6%4%3%

‘Cannot be bettered as a forum to exchange ideas and obtain access to the key players in the industry.’

Oliver Irwin, Bracewell

‘The premier event in the African market for trade, export and commodity finance! Not to be missed!’

Craig Weitz, Nedbank

‘Very practical lessons on Africa’

Dr Layi Fatona, ND Western

‘TXF Africa is a must visit for everybody engaged in the export and project finance in this region. The conference offers excellent networking opportunities and good information about the latest market trends from the relevant players.’ Dr Dietrich Stiller, SZA

OUR AFRICA EXPERTS:

Angelica AdamskiCEO

Chromafora

Seth TerkperFormer Minister of

FinanceGhana

Mandla MalekaGroup TreasurerEskom Holdings

Tewolde GebremariamCEO

Ethiopian Airlines

Alain DescampsChairman

STAR

Stefan NalletambyDirector Financial

Sector DevelopmentAfrican Development

Bank

Atsuko TodaDirector for

Agriculture Finance & Rural Development

African Development Bank

Massaer Cisse Managing Director

Lekela Power Senegal

Mahamane SowManaging Director

Cote D’IvoireEDF

Jim DuttonRegional Head

for AfricaBechtel

Hoda MoustafaAfrica Regional Head

MIGA

Michał ŁupkowskiInternational

Relationship DirectorLUG Light Factory

Anne PetrarqueHead of Finance &

InsuranceEnel

Chao XuEgypt Representative

OfficeSinosure

Dr Nana AidutwimMensah

Finance Manager - West Africa

Sandvik

Francois SporrerFrench Economic

AdvisorDG Tresor

George OluwandeFormer CEO

Sahara Energy Group

Dominique AubertVice President

Acquisition & Rep. Lausanne office

SERV

Maelia DufourDirector

International RelationsBpifrance

Michael Foundethakis

PartnerBaker McKenzie

Samuel AlemahyuManaging Director

Cambridge Industries

Serigne MansourPresident & ESG

ConsultantSenegal-UK Chamber

of Commerce

Shawn MurphyHead of Trade &

InvestmentBritish Embassy

Cote D’Ivoire

Randolph Fotso Director Export Finance Africa

Societe Generale

David ChalilaHead of Sub-Saharan

AfricaSACE

Antonio SalaExecutive Director - Export & Agency

FinanceSantander

Craig WeitzPrincipal: Export Credit Finance

Nedbank

Sujay SarkarRegional CFO, West

& Central AfricaOlam

Rahul RastogiCFO, Cote D’Ivoire

Olam

Keri LeicherDirector Consulting

RelationsEXX Africa

Mbiya BaudoinDeal Originator -

West AfricaECIC

Anne CrepinDeputy Head of Export Credit

SFIL

Kodjo AttatyRegional Underwriter

- Francophone Countries

ATI

Jens-Oliver SchuenzelDirector - Infrastructure

FinanceKfW IPEX Bank

Ralph GunnManager

Standard Bank

Matthew McLeanPresident

Endsight Consulting

Koen CeyssensSVP Export Finance Middle East & Africa

BNP Paribas

Aida N’DiayeCountry Manager Cote

D’IvoireAfrica Business Portal

Victor EromoseleCEO

ME Consulting Ltd

TOP 2019 CORPORATE GUESTS

Andritz Hydro

ASPAC International

Besix

BNEDT

Caterpillar

Chamber of Commerce Cote D’IvoireCNHI International SA

Colas

Colas Rail

Coordination Nationale du Programme Compact MCC

CTCI Cote D’Ivoire

Daimler AG

Daimler Financial Services

Dangote Industries

DHL Global Forwarding

Dredging International

ECC

Ecom Trading

Elecnor

Energy Institute Nigeria

Eni

Enval Group

Ericsson

Ferrostaal Equipment Solutions France S.A.S

GAUFF GmbH & Co. Engineering KG.

J.M. Voith GmbH & Co.KGaA

Korlink

Lufthansa Cargo

Marubeni Corporation

Mitco

Mitsubishi Corporation

Mota-Engil Group

Moving Road

Nautic Africa

NMS International

Olam International Limited

Orascom Construction (OCI)

PFO

Power Africa

Razel

SAAF (Société d’Accompagnement des entreprises en Afrique Francophone)

SAP

Satake Europe

Schneider Electric

SENET

Sifca

Société des Transports Abidjanais sur Rails

SOLSYS

South African Chamber of Commerce and Industry (SACCI)

Spac

Star Energies

STOA

Sumitomo Corporation

Technologies Vision & Services

Thales

Transglobal

Tullow Oil

USAID Power Africa

VAMED

VERGNET HYDRO

VINCI Energies International And Systems

Wartsila

Yiris Group

Opening remarksWelcome to the fifth edition of TXF Africa! We’re delighted to be back in Abidjan for the second year running and look forward to two days of dynamic discussion and networking.

Ministerial Keynote: Cote D’IvoireCote D’Ivoire’s economy has grown at an average of 8% per year since 2011, making it one of Africa’s fastest expanding markets. This significant development is driven in part by the country’s booming agricultural industry; the country contributes around 40% to the world’s supply of cocoa. On top of this, CEPICI, Cote D’Ivoire’s government backed investment promotion office, incentivizes private investment to drive growth in the private sector.

• What improvements are being made to the nation’s infrastructure to foster economic development? What impact will the creation of decentralized industrial

zones have?

• What transformations are underway in the agricultural sector to boost Cote D’Ivoire’s competitiveness?

• How are the manufacturing, services and IT sectors developing to bolster local growth?

• What is being done to improve access to finance which will benefit local SMES and increase local banks’ MLT financing capacities

Ministerial Keynote: GhanaYou’ve heard from the current government, but what of ministries past? Ghana’s economy is estimated for a 6.7% growth in 2019, up significantly on 5.4% in the previous year. This includes a non-oil growth at a projected 6%. The country has seen impressive recovery in the service sector which has grown 7.2% in 2019, compared to just 1.2% in 2018. The local banking sector remains strong, promising significant opportunities for international investment. • Which sectors should your business keep its eyes on in Ghana over the next year?• What’s the latest on the public utility ECG’s appointment of the private PDS? Has Ghana’s power distribution stabilized and, if not, what does this mean for investment prospects?• Where will we expect to see further growth in Ghana over the course of 2020? Seth Terkper, Former Minister of Finance, Ghana

08:30

09:10

09:30

DAY 128 APRIL

AGENDA

27 APRILPRE-CONFERENCE EVENING ICE-BREAKER DRINKS

SOFITEL ABIDJAN HOTEL IVOIRE

Fostering collaboration: A roadmap to intra-African tradeSince the formation of the World Trade Organisation, the Africa Continental Free Trade Area (AfCFTA) has been the largest of its kind. Comprising 54

of the 55 African nations, AfCFTA demonstrates countries’ willingness to collaborate and boost intra-African trade. This, paired with success in the ECOWAS region, show that Africa is coming closer to its free trade goals. However, it is unclear when we will start to see the fruits of the agreement or whether it will remain a pipe dream. For example, many African nations demonstrate a stringent nationalism which is at odds with AfCFTA’s goals – Nigeria, for instance, has closed its borders. Our panel of experts discusses whether AfCFTA will boost business if made tangible, or if lengthy documentation and prohibitive tariffs will remain a hindrance:

• What would AfCFTA mean for international exporters, banks and ECAs if we see it come to fruition?

• How should you proceed with your operations in the interim between AfCFTA’s ratification and tangible results? Realistically, when will we start to see

projects emerging under AfCFTA’s remit?

• What actions do African governments and agencies need to take to make AfCFTA a reality?

Atsuko Toda, Director for Agriculture, Finance & Rural, Development, African Development BankSujay Sarkar, Regional CFO, West & Central Africa, Olam

Taking the pulse: TXF’s audience surveyWhat do you think of today’s African market? How is your business faring, where do you see opportunities, and what excites you most about the

industry? Have your say in our interactive audience survey.

Hesham Zakai, Managing Director, TXF

Networking coffee break

Reality check: An African security updateWith militancy in the Sahel on the rise; a growing crime nexus including people smuggling, arms trading and drugs trafficking; and the re-emergence

of piracy in the Gulf of Guinea, trading in Africa certainly has its risks. However, guests at TXF Africa have consistently voted that perception of African risk is always greater than actual risk. It’s no secret that the continent offers plentiful opportunities in various sectors including power, infrastructure and agriculture. In this reality check, we take a frank look at how to make your business robust to the most pressing security threats:

• Which risks are most important to be aware of for your business?

• What actions should you take to protect yourself against today’s most prominent security threats?

• How can you make the most of the opportunities on offer in Africa despite significant threat?

Keri Leicher, Director, Consulting Relations, EXX Africa

10:00

10:30

11:15

11:30

Export & project stream Trade & Commodities Stream

Moving ahead: Opportunities in rail & roadTransport and infrastructure development are priorities not just for the Ivorian government, but for ministries across the continent. However, it’s no secret that getting large-scale infrastructure projects off the ground in Africa presents a plethora of unique challenges. For example, sovereign borrowers, as opposed to private sector, can complicate procedures. Further, whilst local banks have low capacities that inhibit involvement in mega-projects, their on-the-ground know how is vital for getting things done. Add to this Africa’s infamous logistical challenges and you have a complex situation that requires delicate handling. • What templates can a big-ticket, multi-sourced deal like Nacala provide for future large-scale projects across the continent?• Why is dealmaker collaboration so important to get the perfect balance on African infrastructure projects?• Why does rail and road infrastructure remain a vital, lucrative sector for investors into Africa?Dominique Aubert, Vice President Acquisition & Rep. Lausanne office, SERVJim Dutton, Regional Head for Africa, BechtelFrançois Sporrer, Chef du Service Economique Régional pour l’Afrique de l’Ouest, DG Trésor

Sector focus: Cocoa70% of the world’s cocoa is produced in West Africa; Cote D’Ivoire alone contributes 40%. Ghana is close on Cote D’Ivoire’s tails – given that the commodity represents some of the countries’ biggest exports, the two have collaborated on an ‘OPEC for cocoa’, or ‘COPEC’. The aim is for fixed term prices to increase price stability, but whether international markets will respond positively remains to be seen. Further, there have been global calls to increase traceability and reporting to eliminate child labour in the industry.

• How will continued investment into processing equipment allow value

to be captured in Africa rather than lost along the supply chain?

• What role will blockchain and other technologies play in ensuring that beans are ethically sourced?

• How will the industry step up its transparency in response to global

calls for improved workers’ rights?

Rahul Rastogi, CFO, Cote D’Ivoire, Olam

Networking lunch

Sector focus: Mining & extractivesAlthough concentrated in West Africa, the trend for resource nationalismis sweeping the continent. For example, Sierra Leone cancelled aprominent iron ore mining license in 2019 following a 5 year high iniron ore prices (around $125 per metric ton). Whilst the trend is notuniversal, Tanzania, Congo and Zambia have all raised mining taxeswithout industry support. However, international companies must adaptto create a more inclusive mining sector. This session will assess thefinancial implications of resource nationalism on mining projects:

• Local companies are less financially sound than multinationals. Whatfinancial structures could be put in place to support local African miningcompanies? For example, what roles could ECAs and DFIs play in thefunding mix?

• Have we seen any success stories where local companies have formedjoint ventures with multinationals?

• Have increased calls for environmental reporting and extradocumentation pressured local mining companies? How can these bemitigated given calls for nationalization?Angelica Adamski, CEO, ChromaforaDr Nana Aidutwim-Mensah, Finance Manager - West Africa, Sandvik

Energise: Powering African communitiesMany African countries rely on expensive fossil fuels as their main source of power, yet the World Bank estimates a saving of USD $5-8 billion per year from improving integrated power trade. This would increase access to accessible, reliable power with lower CO2 emissions. As well as dealing with costly and emission heavy fuel, Africa grapples with the challenges of connecting rural communities to the grid. Despite this, Cote D’Ivoire has increased capacity by 56% between 2011 and 2018 up to 2200 MW. This includes upping rural electricity coverage from 33% to 54%, according to the African Development Bank. We consider the innovative solutions currently in play to keep driving these figures: whilst renewables are set to play an important role, intermittent power distribution means that surplus energy is lost and ‘dirty’ energy still dominates. • Which energy sources will dominate the mix in the coming years and therefore promise rich return on investment? • How can we balance urgent demand for affordable power with the global need for clean energy? Will battery storage play a role?• Which nuances of the African market must be considered when putting together a large-scale power project in the region?

Massaer Cisse, Managing Director, Lekela Power SenegalMahamane Sow, Managing Director Cote D’Ivoire, EDFMbiya Baudoin, Deal Originator - West Africa, ECICGeorge Oluwande, Former CEO, Sahara Energy Group

12:15

12:45

13:15

Focus groups Case studies

Focus groups: infrastructure and energy in depthYou’ve heard from our experts, now it’s time to have your say on

two of Africa’s most important sectors for development. Join a small group with one of our panelists to ask your questions, pitch in your experiences, and workshop solutions to the challenges facing these industries.

These small groups of off-record discussions will allow you to speak

frankly and candidly about your sector concerns

Focus group: Transport & Infrastructure• Which infrastructure projects have piqued your interest this year?

• What are your biggest concerns when it comes to African infrastructure in 2020?

• Have you seen any deals ‘go wrong’ this year, or did any projects fail to live up to your expectations?

• Which deals have impressed you this year, and what elements of the deal structure do you seek to emulate?

Focus group: Energy• In your opinion, what have been the most exciting developments in Africa’s energy sector this year?

• What exciting projects have you been working on? Have there been any developments that you think will radically change the industry?

• What are the biggest challenges for your business in the African energy sector? Do you have any grievances you’d like to air?

Discussion leaders: Jim Dutton, Regional Head for Africa, Bechtel

François Sporrer, Chef du Service Economique Régional pour l’Afrique

de l’Ouest, DG Trésor

Mbiya Baudoin, Deal Originator - West Africa, ECICMassaer Cisse, Managing Director, Lekela Power SenegalMahamane Sow, Managing Director Cote D’Ivoire, EDFGeorge Oluwande, Former CEO, Sahara Energy Group

Case study: The Abidjan MetroCote D’Ivoire’s most hotly anticipated project, the Abidjan Metro, isfinally making progress. Having seen its fair share of dramas – theproject was changed from a PPP to a sovereign loan during its earlystages for one – the Abidjan Metro could prove a vital case study forfuture dealmakers in the region to learn from.

• Senior dealmakers gather to discuss the project’s peaks and troughs,assessing the next steps required to bring the project to fruition

• What lessons have been learned from the 6 year saga and how canthese teach us best practice for future large-scale infrastructure deals?

• We address any questions you have regarding the project’s structureand financing

Alain Descamps, Chairman, STAR

Case study: RivermeWater supply projects are crucial for the sustainable development of African cities such as Abidjan. We take an in-depth look at Riverme, a $250 million hybrid financing that closed last year, to explore how best to approach transactions of this type. We consider the importance of a varied financial structure that combines export finance, local, regional and cross-border elements, including:

• Riverme’s ECA backed tranche

• Multilateral involvement on the deal from IDB and BOAD

• Structuring a local currency tranche

Randolph Fotso, Director Export Finance - Africa, Societe Generale

14:45

Looking to the future: Sustaining growth in AfricaAgriculture, forestry and other land use comprise 25% of greenhouse gas emissions caused by humans. Given West Africa’s reliance on agriculture, sustainability has become a hot topic that can no longer be ignored. However, there’s a balancing act to be performed between sustainable development and urgent local needs. Palm oil, for example, is renowned for its environmental impact but provides around 200,000 regular jobs and 500 billion CFA Francs to Cote D’Ivoire alone. Saying this, there is great scope for green project financing across the continent, which could both have a low carbon cost and promote development.

• How can we make real progress on sustainability without a solid definition of the term?

• What is at stake if we fail to make sustainability a vital consideration in the deal making process?

• What solutions can prioritize local development whilst also benefitting the environment?

• Which projects could improve sustainability across Africa?Anne Crepin, Deputy Head of Export Credit, SFILSerigne Mansour, President & ESG Consultant, Senegal-UK Chamber of Commerce

Closing remarksThank you for joining us at TXF Africa 2020!Hesham Zakai, Managing Director, TXF

Drinks receptionJoin us in the Sofitel Gardens for a relaxed drink

Sponsored by:

Networking coffee break15:45

18:00

16:30

17:15

Power up: Taking on Africa’s challenged utilitiesMany of Africa’s energy utilities are state owned companies that can be described as monopolistic. This model has led to problems with electricity delivery, notably in South Africa and Ghana. However, utilities in Kenya, Morocco and Cote D’Ivoire suggest that there could be a successful template for nations to follow.We gather leaders from African utilities – both successful and challenged – for an update on the continent’s energy delivery:•Why has Eskom had so many challenges, notably load shedding, and what are their plans to improve the business model?• Kenya, Morocco and Cote D’Ivoire are getting it right. What are they doing that’s proving successful and how could other countries emulate them?• What role should the private sector play in African utilities?Mandla Maleka, Group Treasurer, Eskom Holdings

09:30

ECA & DFI collaboration: The key to African deals?When political risk is high, ECA and DFI backing are incredibly popular. Many deals necessitate support from both types of agency, meaning that collaboration is vital – but this can complicate deal structuring. • What exemplary cases of financial collaboration have we seen on African deals across 2019 and 2020?• 2019 has seen an increase in ECAs offering direct lending facilities. How does this play into the overall deal structure and opportunities for collaboration? • Mozambique put $40 billion of debt to the market this year. What opportunities will this offer the ECA and DFI market? Hoda Moustafa, Africa Regional Head, MIGAMaelia Dufour, Director - International Relations, BpifranceAnne Petrarque, Head of Finance & Insurance, EnelCraig Weitz, Principal: Export Credit Finance, NedbankModerator: Koen Ceyssens, SVP Export Finance Middle East & Africa, BNP Paribas

10:00

10:45 Networking coffee break

Flying high: Updates from EthiopiaAfrica’s second most populous nation, Ethiopia offers significant opportunity for international investment. The country aims to meet lower-middle income status by 2025 as the government implements its Growth & Transformation Plan II. We’re joined by the CEO of Ethiopian Airlines, the country’s leading state-owned entity, to address:• How does Ethiopian Airlines maintain a balance between state ownership and business goals?• What can the airline teach us about the state’s role in entities that it owns? Can it provide a model for other SOEs to follow?• How have political shifts in Ethiopia impacted the airline’s activities? More broadly, how have global geopolitics - including trade tensions - taken their toll on the company?

Tewolde Gebremariam, CEO, Ethiopian Airlines

Opening remarksWelcome to the second day of TXF Africa 2020. Having discussed the importance of intra-African trade and its impacts on specific sectors, today we dig down into specific projeccts and focus on encouraging sustainable growth.

09:00

09:10

DAY 229 APRIL

11:30

Infrastructure Country Focus

Getting the price right: Optimising financing conditions for infrastructure projects Financing infrastructure in Africa is never easy, especially for projects that are out for public tender. However, there are some tricks you should have up your sleeve to secure the best value for money. This presentation gives you the lowdown on securing optimal financing, including ECA cover, for projects out for public tender.

• How does financial structuring impact selection of bidders?

• Why should ECA finance be considered for cost effective public tenders?

• Why is it imperative for financing to be considered from a project’s nception?

Jens-Oliver Schuenzel, Director - Infrastructure Finance, KfW IPEX Bank

Oil & opportunity: Focus on NigeriaAs well as being the continent’s most populous country, Nigeriarepresents Africa’s largest economy. Despite this, economic growthproceeded at a sluggish but stable 2% in the first half of 2019 (accordingto the World Bank). Oil GDP remains stable, but as ever the marketremains vulnerable to price fluctuations.Some 40 per cent of Nigeria’s oil comes from its offshore deepwater fields, with billions of dollars worth of project awaiting sanction in the sector. This roundtable considers the investment opportunities at stake:

• What impact will the recently amended Production Sharing ContractsAct have on major deep offshore projects awaiting sanction?

• What opportunities are arising from the emerging gas to power sector?

• What role can multilaterals and other financial institutions play inbringing Nigerian oil and gas projects to fruition?

• What opportunities will arise from the Final Investment Decision takenon the Train 4 expansion of the Nigeria LNG Bonny Island plant?

Victor Eromosele, CEO, ME Consulting Ltd

China vs the world: International investors into AfricaChina is renowned for bullish investment into Africa, particularly when itcomes to ambitious infrastructure projects. But whilst their activity in the region is certainly remarkable, is it monopolistic? Over the last year, we’ve seen China be far more selective about the projects its been involved in. This session examines international investment prospectives in Africa, including:

• The development of Africa-Russia relations, concretized by the recentRussia-Africa summit and Afreximbank’s Moscow based AGM. Which African countries and industries are piquing Russian interests?

• The increase in Indian activity on the continent, particularly when it comes to securing energy assets

Chao Xu, Egypt Representative Office, SinosureRalph Gunn, Manager, Standard Bank

Resilient cities: Encouraging sustainable growthAccording to a recent report by TXF Data, 14.1% of all sustainable deals done in 2019 were closed in Africa. A vital step in the continent’s continued development is the establishment of resilient smart city infrastructure that will support countries as they continue to grow. For example, we are seeing a host of waste to energy projects coming to a fruition in Ghana and Nigeria, all of which include significant ECA involvement. Sustainable infrastructure must be thought of in the long term. This may be self-explanatory, but it is vital that we shift our thinking about African projects so as to plan for a lifespan upwards of ten years.

• Which innovative infrastructure technologies are being rolled out across Africa and why are they so important for continued development?

• How should projects be implemented on the ground to account for geopolitical fluctuations and logistical challenges?

• What opportunities does the booming sustainable infrastructure sector offer for ECAs, DFIs, exporters and commercial banks?

Michał Łupkowski, International Relationship Director, LUG Light FactorySamuel Alemahyu, Managing Director, Cambridge Industries

12:00

Networking lunch

Closing remarks

12:30

15:15

International perspectives: The exporters’ revueWith significant projects on the horizon, Africa offers many opportunities to international exporters. Although it can be a challenging market to navigate, the rewards are more than worth it. Exporters looking to get their teeth stuck in to mega projects must navigate the fact that local banks cannot lend in sufficient volumes. Further, African governments are militant with regards to local content requirements. Many are asking these to be upped to 40-50% of the export contract, placing significant pressures on market players.

• What do exporters want from ECA products and how can agencies tailor their offerings to suit the African market?

• How do exporters get comfortable with tender to contract FX risk? Do they hedge, and if so with what implements?

• What creative solutions have exporters found to dealing with the nuances of the African market?

• Whilst West Africa’s currency has shifted from the CFA Franc to the Eco, it’s still pegged to the Euro. What impact will this have for international exporters seeking financing on African projects?

Michael Foundethakis, Partner, Baker McKenzie

13:45

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