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New Sparta Asset Management to target Power Africa opportunities

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A subsidiary of New Sparta Asset Management, New Sparta Energy (NSE) was established in 2017 to identify, develop, build and operate power generation assets in Africa, with a focus on renewables, and to sub-advise NSAM on Africa strategy. Our in-house team of highly experienced professionals have collectively spent decades originating and managing private sector power investments on the continent, from early stage development through operations, including over $800 million of financial closings.

NSE helps address the African market’s growing demand for bankable, de-risked projects by applying this proven expertise to the development, financing and construction of power generation facilities – all while strictly adhering to the highest ethical standards and applicable international and local environmental and social requirements. After demonstrating successful operations, these projects will be marketed for sale, either individually or as regional or technology-grouped portfolios, to buyers with appetite for operating power generation assets.

NSE primarily invests in projects up to financial close, including early stage development, but will consider alternate entry points.  We are actively appraising and developing an attractive pipeline of projects, sourced through our principals’ deep market relationships, and maintain an investment in African Plantations for Sustainable Development (APSD).  APSD, a development-stage 60 MW biomass-fired power station in central Ghana, is expected to employ over 1500 local citizens when operational.

Tesla unveils game changing all-electric semi-truck

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Tesla recently unveiled its new all-electric semi-truck with the hope of shaking up the auto industry once again.

Billed as quicker and more economical than today’s diesel-powered trucks, the Tesla Semi was designed and built to be like a bullet according to Elon Musk, Tesla’s co-founder and chief executive.

Speaking at the big rig’s reveal, Musk said he aims to start production in 2019 with deliveries by 2020 despite some analysts expressing caution over Tesla’s ability to meet its own timetable.

A super saver

According to Tesla the Semi features four independent electric motors and a transmission that requires no shifting of gears. This means it can accelerate to 100 kilometers per hour in five seconds – reaching that speed in 20 seconds while hauling a maximum 36 000 kilogram load, much faster than a traditional diesel truck.

Most importantly, it can travel 800 kilometers between charges, more than double the length of most truck routes, 80% of which, according to Musk, are 250 miles or less.

“So it means you can go to your destination and back without recharging,” he noted.

Tesla claims its Semi, which could be recharged at the firm’s 1 000 free Supercharger stations worldwide, can save 20% over conventional transport rigs with fuel and insurance factored in – while delivering a “better experience” for truck drivers through its cab design.

Built for comfort

With no front engine or gear shift to accommodate, the driver’s seat is positioned in the centre of a panoramic windshield, with a dominating view of the road.

Instead of the traditional console, there are touch screens for navigation, music and traffic data.

Inside, the cab has enough head and legroom to stand up and walk around. The traditional second front seat is relegated to the back of the cab as a jump seat.

The Semi also uses some of the same navigation aids as Tesla’s Model 3 sedan, such as cameras, and sensors designed to minimize blind spots, abrupt lane changes and emergency stops.

Bumps in the road?

But despite the truck’s glitzy debut, some analysts warned it remains unclear if or when Tesla can deliver on its promises AFP reported.

“We’ve come to expect very forward-thinking products from Tesla,” said Rebecca Lindland, analyst for the auto research firm Kelley Blue Book. Lindland told AFP the Tesla Semi concept “makes a lot of sense” for vehicles with predictable routes like garbage trucks or school buses.

She added however that Musk “is not great at keeping deadlines” and that “we need to add weeks, months or years” to his timetable.

EThekwini rejects Virginia Airport development bid

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​An artistic impression of the proposed redevelopment at the Virginia Airport Site.

The eThekwini Municipality has rejected an unsolicited bid to develop the Virginia Airport.

In a statement released on Thursday the Municipality said while its Bid Adjudication Committee had rejected this bid it would consider future bids based on merit.

In 2015 the city received a bid by Seaworld Investment Holdings recommending the Virginia Airport site be redeveloped into a mixed-use development. The project was expected to cost R6.1 billion with sourcing funding and the offering its services and expertise in the implementation of bulk infrastructure and services.

According to the proposal SeaWorld Investment Holdings would also develop a brand new airport, five times the size of Virginia Airport in Scottburgh.

Commenting on the rejection of the bid the municipality said: “The City remains committed to advancing infrastructure development to drive economic growth and attract investment.

“The Virginia Airport site belongs to eThekwini Municipality, and it is the Municipality that will decide through robust public engagements on what the site must be utilised for, as we have been doing with all developments in the City,” it concluded.

Ai CEO Institutional Investment Summit & Awards 2017

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Ai CEO Institutional Investment Summit & Awards 2017

The Africa investor (Ai) CEO Institutional Investment Summit held in partnership with NASDAQ in September, New York, has once again set the scene for high-profile African business leaders, US and global institutional investors to unpack Africa’s current global geopolitical environment and ways in which Africa’s asset owners and capital markets can be pervasive platforms to convert the continent’s economic opportunity.  Other notable topics which were discussed included infrastructure co-investments, initiatives to improve access to data and support for the emerging investment management industry. Here, we bring you highlights from the Summit.

Themed ‘African Regional Growth and the Role of Long –Term Capital’, the Summit centered on Africa’s positioning in the current global geopolitical environment, the impact of growing protectionism on Africa’s growth prospects and the increased importance placed on investing in sustainable regional economic integration for growth.

The Summit was chaired by Africa Investor’s CEO, Hubert Danso who started by welcoming all the panellists, speakers and distinguished guests.

In his welcome speech, Danso said the goal of the Summit is to build a dialog that will see leaders discussing practical initiatives and opportunities to mobilise institutional assets to allocate infrastructure as an investible investment class.

The Summit drew over 100 African Pension and Sovereign Fund leaders, international institutional investors, members of the PIDA Continental Business Network (CBN), infrastructure investment leaders, G7 and G20 public sector officials and policy makers These business leaders were joined along by high-level panellists including Dr. Vera Songwe, Executive Secretary, Economic Commission for Africa, Amadou Hott, Vice President AfDB, Admassu Tafesse, President and CEO TDB, Hon. Jeff Radebe, Minister in the Presidency: Planning, Monitoring and Evaluation, Government of South Africa and H.E Dr Moussa Faki Mahamat, Chairperson of the African Union Commission.

Water crisis and infrastructure needs

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The water challenge in Cape Town shows the need for capable infrastructure to respond to human needs and development objectives, Finance Minister Malusi Gigaba said on Thursday.

He was one of the opening speakers at the First African Round Table on Infrastructure Governance. The theme of the conference, taking place at the Lord Charles Hotel in Somerset West, is “Building the right infrastructure for tomorrow”.

Amid a prolonged drought, the City of Cape Town has implemented Level 5 water restrictions and has urged residents to keep a 5l store of water for emergencies, or if pressure reduction measures leave their taps dry.

With Cape Town’s dam levels currently averaging at just over 31%, its plans for desalination plants and other projects will probably cost the city billions of rand. Until May this year, the city’s approach was based on driving down demand and supplementing supply with augmentation schemes.

On Thursday, Gigaba said it was the building and maintenance of appropriate infrastructure that was one of Africa’s foremost developmental constraints.

In the absence of good governance frameworks and human capital, it is unlikely that we would get our challenges right. It is very important for efficient operations.

He said it is very important that private public partnerships (PPPs) are demand driven. In his view, South Africa has the public governance necessary for PPPs. National Treasury has actually established an infrastructure fund.

The building of infrastructure also aims to address the needs of ordinary people. It is not just about bricks and mortar. We need to build the capacity of infrastructure development, but also build trust with business

said Gigaba.

“The challenges in Africa regarding infrastructure do not relate merely to us building roads, generation capacity for electricity and so on. We need to build proper capital structures. We also need to ensure we build trust in the roll out of infrastructure with clear time lines and meeting those timelines we set for ourselves.”

Patrick Dlamini, CEO and managing director of the Development Bank of Southern Africa, said in his opening presentation that Africa is battling to attract foreign investors to infrastructure projects.

“Like never before, as the African continent, we have to get our infrastructure right as well as the maintenance thereof. We are looking to political leadership to get the policies attractive enough,” said Dlamini.

“Capital and talent will go where they are appreciated. Governance is such a big enabler. Unless we get that right, we won’t reach our dream of getting an integrated Africa to take people out of abject poverty.”

Dlamini emphasised that governance can never be compromised.

As state-owned enterprises are challenged around poor governance and corruption, these are things we need to face and with extreme necessity. Governance is very important to investors

said Dlamini.

Source:

https://www.fin24.com/Economy/gigaba-cape-water-crisis-shows-need-for-capable-infrastructure-20171102

Africa Climate Smart Agriculture

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The inaugural Africa Climate Smart Agriculture Congress is taking place on 6-7 March 2018 in Nairobi, Kenya. The Africa CSA Congress will unite senior representatives from governments, UN and donor agencies, farmers’ associations, cooperatives, NGOs and CBOs, research institutes, investors and the private sector to look into innovations, partnerships and financing to advance climate smart agriculture in East Africa.

Discover how to secure financial investment for CSA and scale adoption of technological innovations in agricultural systems, as well as best practice in capacity building, innovative financing, policy frameworks and the use of big data to advance climate-smart agriculture practices. Hear from expert speakers including Gabriel Rugalema, Representative of the FAO Kenya, Noelle Obrien, Team Leader of the Finance Innovation for Climate Change Fund, Richard Munang, Regional Climate Change Coordinator at the UNEP and Berber Kramer, Research Fellow of the International Food Policy Research Institute amongst others.

Source:

http://www.aidforum.org/events/event/africa-climate-smart-agriculture-congress-2018

Smart Agriculture

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The World Bank has recently approved a $250 million USD investment to the Climate-Smart Agriculture Project in Kenya. The main goal of the project is to “increase agricultural productivity and build resilience to climate change risks for smallholder farming and pastoral communities.” The secondary goal of the project is to create a crisis response system for said stakeholders.

There are five major components to the project: upscaling climate-smart agricultural practice; strengthening climate-smart agriculture research; supporting agro-weather, market, climate, and advisory services; project coordination; and management. In order to build resilience and increase agricultural productivity, the project will upscale finance interventions, develop sustainable seen production and distribution, and improve agrometeorological forecasting and information distribution to farmers.

The Climate-Smart Agriculture project has the capacity to have a profound impact on Kenya. The country is incredibly vulnerable to crises from extreme weather due to the reliance on climate-sensitive natural resources. The agriculture sector is a major contributor to the national GDP, which also leaves Kenya’s economy weak during periods of flooding or drought. This investment announcement from the World Bank comes at a time when Kenya has been hit by major drought. Approximately 3.4 million people are in need of food aid and clean water. As weather patterns become more extreme and unpredictable due to climate change, the Climate-Smart Agriculture project will aim to protect smallholder farming and pastoral communities and respond to

The Aid & International Development Forum will host the Climate Smart Agriculture Congress on 6-7 March 2018 in Nairobi, Kenya. The congress will look into technological innovations, capacity building, innovative financing, partnerships and the use of big data to advance climate-smart agriculture practices across East Africa. Hear from expert speakers including Gabriel Rugalema, Representative of the FAO Kenya, Noelle Obrien, Team Leader of the Finance Innovation for Climate Change Fund, Richard Munang, Regional Climate Change Coordinator at the UNEP and Berber Kramer, Research Fellow of the International Food Policy Research Institute amongst others.

Source:

http://www.aidforum.org/food-security/world-bank-investment-in-kenya-climate-smart-agriculture

PPP transparency and governance on the African Continent

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Within the first 100 days of his administration, President Muhammadu Buhari signaled his administration’s commitment to attracting the private capital and expertise needed to address Nigeria’s infrastructure deficit. This led to a renewed engagement between the World Bank Group and Nigeria to enhance the attractiveness of the Public-Private Partnership (PPP) ecosystem in the country.

One major PPP transparency initiative is the study conducted by the World Bank Group’s PPP team between September 2016 and April 2017 using the Framework for Disclosure in PPPs. The team came up with a PPP Disclosure Diagnostic Report for Nigeria that examined the political, legal, and institutional environment for disclosure of PPPs.

Based on this, the report made specific recommendations to improve disclosure in Nigeria: create an enhanced framework for disclosure of PPPs applicable to all federal government PPP contracts, and move toward greater transparency and openness in all areas of governance in Nigeria. It was noted that PPPs are proven mechanisms to enhance the efficiency of service delivery when implemented in line with best practices ; PPPs also foster transparency and can be used to eliminate corruption.

An initiative that fulfills many of these recommendations will be launched on September 22, 2017, by Nigeria’s Vice President Professor Yemi Osinbajo: the ICRC PPP Contracts Disclosure Web Portal. The launch will be attended by high-level government officials and other members of the government, World Bank Group representatives, private sector executives, financiers, development partners, and civil society organizations.

The portal helps fulfill President Buhari’s goals of fostering transparency and accountability in PPPs in order to attract the much-needed foreign capital and expertise to scale up Nigeria’s infrastructure through PPPs and promote sustainable growth and development.

It also supports a recent Presidential executive order directing all ministries, departments, and agencies to develop policies to ease doing business in Nigeria, including extensive disclosure requirements. The project was designed and funded with assistance from the World Bank Group.

Under the World Bank PPP Global Disclosure initiative, Nigeria is blazing the trail by being the first country to launch this unique and strategically important PPP disclosure web portal.

Source:

http://blogs.worldbank.org/ppps/nigeria-blazes-trail-ppp-disclosures-new-web-portal

Considering Future Energy Scenarios for African Cities

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Prior to the COP23 gathering, the EU Energy Initiative Partnership Dialogue Facility (EUEI PDF) developed and launched a study on Future Energy Scenarios for sub-Saharan African Cities which analyses the main megatrends that will shape the future of African cities and presents scenarios and policy choices to embark into a more sustainable path of growth.

The analysis, carried out in consultation with all mayor city networks as well representatives from various African municipalities, confirms that some of the main challenges in the transition to a sustainable energy supply for urban settlements include the lack of mandate and capacity of municipalities to enable action locally.

The main objective of the session was to present the outcomes of the energy scenarios study for subSaharan African cities and coordinate an interactive discussion around the three identified best practice models for unlocking action in municipalities of sub-Saharan Africa.

Sources:

http://africa.iclei.org/fileadmin/user_upload/Africa/Projects_and_Programmes/LOCS/COP23_EUEI_PDF_ICLEI_Side_Event_Future_Energy_Scenarios_African_Cities_Concept_Note.pdf

Africa Day at Cop23

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On Wednesday, 15 November 2017, COP23 will celebrate Africa Day, a joint initiative of the African Development Bank (AfDB), the African Union Commission (AUC), the United Nations Economic Commission for Africa (ECA) and the New Partnership for Africa’s Development (NEPAD).

Two years after the Paris Agreement was signed at COP21, Africa continues to consolidate its efforts, focusing particularly on partnerships to ensure that developed countries meet their responsibilities and commitments in terms of funding, and encouraging African nations to pursue a low-carbon development path and maintain their nationally determined contributions.  All of this is in line with the roadmap for the African Union’s Agenda 2063, the UN’s Sustainable Development Goals and the African Development Bank’s High 5s.

The theme of this year’s Africa Day is therefore: “Partnerships to Implement the Paris Agreement: Africa’s Response”.  The programme will focus on funding, capacity-building, development and technology transfer.

The Africa Day organised jointly by the AfDB, AUC, ECA and NEPAD at the request of African Heads of State, held at every COP since COP17 in Durban.

Sources

https://www.afdb.org/en/news-and-events/africa-day-at-cop23-17551/

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