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Africa investor (Ai) and BATSETA (South Africa’s Council of Retirement Funds), today announced its exclusive, invitation-only Ai CEO African Sovereign Wealth and Pension Fund Leaders’ Summit and Infrastructure Investment Awards, successfully concluded and hosted a series of dialogues that deepened African institutional investors’ commitment to co-investment partnerships, to address Africa’s $150bn per annum infrastructure deficit, at the One and Only Hotel in Cape Town, South Africa.

The Ai African Sovereign Wealth and Pension Fund Leaders’ Summit, held in association with Batseta, was opened by Hubert Danso, CEO and Chairman of Africa investor (Ai) and the Honorable Danny Faure, President of the Republic of Seychelles.

The Summit theme of “Asset Recycling, Re-Financing & Co-Investing”, built on last year’s key recommendation, which called for greater leadership from African and international asset owners to share their knowledge and expertise with public and private sector colleagues, to support African governments implement the African Unions’ 5% Agenda Initiative, which is an African institutional investor led, COMPACT, with African Heads of State, to create a more conducive environment to increase African institutional asset allocation to infrastructure, from approximately 1%-2% today of assets under management (AUM), to 5% of AUM, over the next 5 years (dubbed the 5% Agenda).

Hubert Danso, Ai CEO and Chairman and Anne-Marie D’Alton, CEO, Batseta, with the Honorable Danny Faure, President of Seychelles and his delegation.

The Ai Summit featured 30 authorative institutional investment leaders and infrastructure investor speakers, a Presidential keynote address, from the Honourable Danny Faure, President of the Republic of the Seychelles. A Keynote Working Lunch Dialogue on Investing in the Continental Free Trade Area (CFTA) from Ambassador, Yonov Fred Agah, Deputy Director-General, World Trade Organization and hosted Africa investor’s prestigious annual infrastructure investment awards.
In his opening remarks, Hubert Danso, CEO and Chairman of Africa investor (Ai) and Chair, CFA New York Asset Owners’ Advisory Council, stated, “We are naturally pleased to co-host this Summit with BATSETA, the continent’s leading Pension and Retirement Funds Council, whose members, represent over 70% of the pension and retirement funds assets on the entire continent, with a dedicated 5% Allocation for the rest of Africa.

Summit partners include: CFA New York Asset Owners Advisory Council, World Pensions Council, Trade & Development Bank, Africa50, PRI, SAVCA, EAVCA, GLIO, Pensions Africa, PAL Pensions.
Anne-Marie D’Alton, CEO Batseta, commenting on the partnership mentioned: We were delighted to continue our long standing partnership with Africa investor (Ai), as Ai represents a unique and action oriented platform, that accelerates African infrastructure co-investment partnerships, which is the critical missing link for South African pension and retirement funds looking to increase their allocations to the rest of Africa, especially into the infrastructure sector(s).

The Summit also hosted the prestigious annual Ai Infrastructure Investment Awards ceremony. The Ai Infrastructure Investment Awards are a unique platform for infrastructure investors, financiers, operators and governments, in Africa’s fast-growing infrastructure sector to gauge and compare their performance, achievements and investment success stories.

The prestigious, highly sought-after Ai Infrastructure Investment Awards formally recognize achievements across the main infrastructure sectors in Africa. The Awards reward the institutions and personalities driving transactions and improving the continent’s infrastructure investment climate.

The Special Africa investor (Ai) Presidential Investment Leadership of the Year Award, was presented President Paul Kagame of Rwanda.

This Ai Award, recognized President Kagame’s, vision and transformative leadership at the African Union and his relentless drive to bring the African Continental Free Trade Area (CFTA), to this Operational Phase. It also takes account of his domestic successes attracting investment to Rwanda, and his leadership and advocacy on technology and innovation for development, which is transforming the continent’s competitiveness, as a global investment destination.

The Special Ai Presidential Award, was conceived and designed to recognize outstanding political leadership that is positively impacting African private sector development and improving the continent’s attractiveness as an investment destination.

The 2019 Ai Infrastructure Investment Award Winners Were:

CATEGORY 1 – Ai Advisor of the Year
– Standard Bank
CATEGORY 2 – Ai Bank Arranger of the Year
– Afrexim Bank
CATEGORY 3 – Ai Social Infrastructure Deal of the Year
– Nedbank
CATEGORY 4 – Ai ICT/Telecoms Deal of the Year
– MTN Nigeria
CATEGORY 5 – Ai Transport Deal of the Year
– African Development Bank (ADB)
CATEGORY 6 – Ai Power Deal of the Year
– Nachtigal Hydroelectric plant, EDF
CATEGORY 7 – Ai Infrastructure Fund of the Year
– Actis
CATEGORY 8 – Ai African Project Development Financier of the Year
– Africa50
CATEGORY 9 – Ai Pension Fund Infrastructure Investment Initiative of the Year
– Kenya Pension Fund Investment Consortium
CATEGORY 10 – Ai Sovereign Wealth Fund Infrastructure Investment Initiative of the Year
– Nigeria Sovereign Investment Authority
CATEGORY 11 – African Developer of the Year
– Themis Energy
CATEGORY 12 – Ai Regional Infrastructure Investment Initiative of the Year
– Trade Development Bank – TDB
CATEGORY 13 – Ai Presidential Investment Leadership of the Year Award
– President Paul Kagame, Rwanda
Awards data partners included DEALOGIC & ACURIS.

Published in Press Room

August 23 2019

South Africa should investigate using worker pensions to fund finance development and infrastructure projects, president Cyril Ramaphosa said on Thursday.

Speaking in a parliamentary Q&A session on Thursday (22 August) Ramaphosa said that the proposal had the backing of the Congress of South Trade Unions(Cosatu), Reuters reported.

“We need to discuss this matter (prescribed assets) and we need to discuss it with a view to actually saying what is it we can do to utilise the various resources in our country to generate growth in a purposeful manner,” Ramaphosa said.

“We are facing a situation where our developmental needs are enormous, and in a number of other places pension funding is utilised for developmental purposes, for infrastructure and quite often those pension funds make good returns out of infrastructure developments.”

In an interview with the Sunday Times earlier this week, a top ANC official said the party is looking at the possibility of using private and public pension funds to rescue the country’s struggling state-owned enterprises.

Enoch Godongwana, head of the party’s economic transformation subcommittee, said that the asset management industry currently has R6 trillion under management which should be borrowed by government.

Godongwana said using this approach to gather funds is better than going the International Monetary Fund (IMF) for a bailout.

“Why would you go to the IMF and the World Bank and go and raise money when we have sufficient savings in the economy which you can borrow, probably far cheaper, and probably with little exchange rate risk?”

Godongwana added that while the ANC is also currently investigating the use of prescribed assets, this is separate from raising money through pension funds.

“Borrowing from domestic markets is not prescribed assets, that is a separate investigation,” he said.

In its election manifesto published in January 2019, the ANC announced that it planned to investigate the introduction of prescribed assets on financial institutions’ funds to ‘unlock resources for investments in social and economic development’.


Source: Business tech. Read original article 


Published in Southern Africa