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1.0 INTRO

Africa tomade prfrequentpeaceful wealth. private punderstadevelopmreversing

Accordinwhole, av2016, exAfrica toexpectedexpected

African Gnetworksdevelopmunemplothe publsector” (

Public-PrAfrica’s Bin diaspointegratiofuture. TMonetarAfrican Dtoday ab

Thereforgrowing improvedopportuncorporatfuture.

These prAfrica wicountries

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ODUCTION

oday has madrogress in cre which spreaand non-vio

“Investors wopartnership (

anding of the ment impact. g a trend of de

g to Havas Hoveraging at a

xperiencing gro recover thed to be around upturn in glo

Governments s in their coument financeoyment, higheic and privatIFC , 2013).

rivate–PartnerBusiness envirora to returnon which has These regionary CommunityDevelopment out catching u

e, the abundfinancial sec

d business ennity for investe finance and

ovides opporll only continus that should

9

de significant eating politicaad across Afrilent businessorldwide reco(PPP) structurisks—and hoInvestment i

ecreasing inve

orizons, (2017round 5%. Th

rowth of arou levels of ec

nd 3% in 2017obal trade and

now look upuntries and e model will

er prices and ce sector to d

rship can onlyronment enco and invest ivery positive

al economic y of Central ACommunity. Tup with rest o

dant natural ctor and rulenvironment. Htors and finand project finan

tunities for inue to be morebe used as pi

progress in ial stability coican countries environment

ognize the poures. But takow they can bin African inf

estments” (IFC

7), Africa had he economy sund 1.6% in 2onomic perfo7. Furthermord a rise in oil p

p to public-prenhance servi

improve servcorruption (Fa

deliver a publ

y succeed wheourages educain Africa. Anoimplications blocs includefrica; SoutherThe potential

of the world in

resources ande of law, incHowever, the nciers. The pronce. Investing

nvestors/finane stable and inivots for mark

its effort to pompare to ths. The implict. This furthe

otential for inking advantabe mitigated—frastructure wC , 2013).

sustained groslowed down 2016, the lowormance seenre, this growtprices.

rivate partnerice delivery tvices, while arlam, 2005).lic service wit

en the busineation of the yoother importafor political, e

e; Economic rn African Cuss in these arr

n its developm

d energy discrease in hou infrastructurovision of infrin Africa now

nciers to take nvestment frieket penetratio

CoH

provide invese past, whenations of pol

er promotes envestments inage of these—to optimize was up 33 pe

owth for abouin growth be

west for 20 yen in recent yth is forecast

rships (PPPs) o their peopavoiding som What then isth full or par

ess environmeoung populatant factor foreconomic andCommunitiesstoms Union; rangements sument.

coveries, incrusehold spendre gap and thrastructure its

w is a strategic

now, especiaendly. The stron in Africa, so


+

tment friendln military inteitical stabilityeconomic actn Africa, espee opportunitiethe project’s ercent in 201

ut 15 years acginning in 20

ears. Howeveears. Economto continue

to radically ile. However,

me of the pis PPP? It is “Artial transfer

ent is stable. Tion, and a gror progress, is

d social stabilit of West AfEast African

uggest that Af

rease in middding among he lack of adeself would leac decision for

ally for long terategies may home of these



ly environmeerventions wy is that, it ptivities and crecially througies requires investment re

12 compared

ross the cont015 and contier, 2017 shoumic growth in

in 2018, drive

improve infrathey expect

itfalls of privA partnershipof risks to th

The growing sowing interests the growingty now and in

frican State; Community a

Africa is very c

dle-class popothers contrequate fundsad to further those who ca

erm financinghowever be, t countries ma


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ent. It has were quite provides a reation of gh public-a proper eturn and

to 2011,

inent as a nued into ld enable

n Africa is en by the

astructure that this

vatisation: between

he private

stability in t by those g regional n the near Economic

and South concerned

ulation, a ributes to s provides growth in

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South AfHowever

There is athe publcritical ab

2.0 INFRA

There is period ofbe seen investme

“The potas PPPs eand appeprojects infrastrucinvestmeimplemenhave bec

2.1 Achie

Accordinbe aboutthe regioproject fAfrica’s ionly US$

South Affinance vlast 4 yeRwanda, sub-regiogeneratioand Mon

Only oneState) sureached developm

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frica, Nigeria,r, even in thes

a growing intic service canbout fair and

ASTRUCTURE

obviously a hf dictatorshipas a major d

ent.

tential for PPPexpand furtheeal to local ohas been chacture PPP proj

ents with foreinted has expa

come involved

evements in A

g to NEPAD, t $12 billion aon with an agfinance volumnfrastructure 1 billion annu

frica was by favolumes. Outsears include Uganda, and

on in Sub-Sahon) deals tota

netary Union)

e power deal wub-region. As

financial cloment banks, a

9

Ghana, Rwase countries th

erest by privan achieve it iattractive risk

E GAP IN AFRIC

huge gap in inp, military ruledisadvantage

Ps in Africa is er into new seor regional inanging as nejects were conign sponsors tanded, more i

d across a wide

African Infrast

(2014) Public-annually. Oveggregate deb

mes, comparegap. On aver

ually, versus th

ar the leadingside South Afrindependent Senegal, as waran Africa haalling US $1.8closed 5 infra

worth US$130a recent exase in 2013, bilateral deve

anda, Tanzanihere are great

ate investors infrastructura

k-adjusted ret

CA

nfrastructurale and violent

to investme

seemingly limectors such asvestors alongw countries ancentrated in taking the leainnovative proer range of co

tructure Proje

-Private Partnr the last 10

bt of US$59 bed to 38% worage over the he US$12 billio

g country for rica, infrastruc

power plantwell as a toll ras been the Ea billion (annu

astructure dea

0 million was mple, the USraised 12/14elopment age

ia, Mozambiqt challenges in

in Africa, relatal goals by prurns on inves

l developmenconflict that nt, the other

mitless relatives social servic

gside larger, iand types of sectors such d. More recenojects have b

ountries” (IFC ,

ect Finance

nerships (PPPsyears (2003-2

billion. Extracorldwide. This

2003-2013 pon requireme

infrastructurecture project fts in Cameroroad in Senegast Africa Com

ual average Uals totalling US

closed in theS$196 million 4-year debt fency, and a loc

CoH

que, Ethiopia,n infrastructu

tive to Africa’roviding incentments (IFC ,

nt in most Afrdestroyed infr side of it is

e to its currences, tailor theminternational investors hav

as power andntly, the rangeeen undertak, 2013).

s), funded thr2013), 158 prtive industries disproportio

period, infrastent noted abo

e, with 45% ofinance transa

oon, Cape Vegal. During themmunity withS$180 millionS $1.5 billion

e ECCAS (EconSendou coal-

rom a groupcal commercia


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, Gabon, Botsral developme

s needs. By cntives to priva2013).

rican countriefrastructure ins that it is a

nt level. New omselves to smplayers. The ve become in

d telecoms ande of sectors inen, and local

rough project oject finance

es representeonate share hructure projecve.

of the region’sactions closederde, Cote D’e period 2003 seven infrast

n). WAEMU (W(annual avera

nomic Commu-fired IPP pro

p of lenders al bank (NEPA



swana, and Ment.

reating PPP stvate investors

es because ofn Africa, whilegreat opport

opportunitiesmall and large

range and siznvolved. Untild usually invo

n which PPPs hand regional

finance sche transactions d 64% of thehighlights subct finance rep

s infrastructurd in the region’Ivoire, Ghan

3-2013, the mtructure (mosWest African age US$150 m

unity of Centroject in Seneg

consisting ofAD, 2014).


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Mauritius.

tructures, who are

f the long e this can tunity for

will arise e projects, ze of PPP l recently, lved large have been l investors

mes, may closed in

e region’s b-Saharan presented

re project n over the a, Kenya, ost active

stly power Economic

million)

ral African gal, which f regional

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3.0 SECTO

As earliemost govbelow:

CHART 1

Source: (

Also acctelecommthat withgovernm

MeanwhInfrastruchistoricaleveling opercent) sectors aAfrica PP

any Nr. 1052250

ORAL FOCUS

r observed, thvernment are

(IFC , 2013)

cording to Famunications, th the correct r

ments and goo

ile, Jeffrey, Acture (PPI) inlly the main off since 2012went to the

and, in particPI during the s

9

OF PUBLIC PR

he focus of PPe the followin

arlam, (2005)transport andregulatory frad opportuniti

Amadou, & Son sub-Saharanrecipient of P2. During 200

telecom sectcular, to sub-same period.

RIVATE PARTN

PP cut across ng; Energy, Te

) PPP have d eco-tourism mework and es for investo

oumya, (2015)n Africa sincePPI in sub-Sa5-2013, a littltor. Most of sectors like e

NERSHIP FOR

several sectoelecom, Trans

been genera projects thanstrong politic

ors.

) observed the 2005. As nharan Africa, le less than twthe remainin

electricity, wh

CoH

INFRASTRUC

ors of Africa’s sport, Water

ally more sucn power and al commitme

at there is annoted in char

but private wo-thirds of tg investment

hich accounte


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CTURE FINANC

economy, bu& Sewage as

ccessful in sewater. Howevnt, they do of

n increase in Prt 2, the teleinvestment intotal PPI in su went to the

ed for 18.6 pe



CING IN AFRIC

ut of special ins shown in th

ectors such ver, he furtheffer value for

Private Particecom sector n this sector ub-Saharan Afe energy and ercent of sub


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nterest to he chart 1

as ports, er suggest money to

ipation in has been has been

frica (64.1 transport

b-Saharan

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CHART 2Proportio

SOURCE:

4.0 TYPE

A solid frbenefit fof PPP baContracts

any Nr. 1052250

2: PPI Infrastons

: Jeffrey, Ama

S AND RISK O

ramework is rom a well plased on the ds, concessions

9

tructure Inves

dou, & Soumy

OF PUBLIC-PRI

important foranned and exegree of privas, Greenfields

stment Comm

ya, (2015) Bro

IVATE-PARTN

r PPP successxecuted PPP. ate sector coms, and divestitu

mitments in

ookings Institu

NERSHIP

s. The governm(Richard, Rabmmitmemt is ure:

CoH

Sub-Saharan

ute

ment, the Pubih, Mona, & M

provided in t


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Africa, by S

blic and the PMazen, 2008)he table below



Sub-sector, 20

Private sector). Classifying w to include L


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005-2013,

r stand to the types Lease and

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Adopted

any Nr. 1052250

from Richard

9

d, Rabih, Monaa, & Mazen, (22008) Booz &

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Company


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Howevermost comas presen

Adopted

4.1 Risk m

The WorGuarantegovernmInternatithe privaMultilateinfrastrucquarter ointerest rthose de

any Nr. 1052250

r, PPP risks spmmon to all Pnted in the tab

from Richard

mitigation

rld Bank Groees (PRG) tha

ment-owned eonal Financiaate sector, s

eral Investmencture sector (4of its overall prate risks assoscribed above

9

read differentPPP and shareble below:

d, Rabih, Mona

oup offers a at cover privantity failing tol Corporation such as Partint Guarantee 44 percent ofportfolio. Theociated with fie could help s

tly dependingd differently b

a, & Mazen, (2

number of rate lenders oro perform its (IFC) offers c

ial Credit GuAgency (MIGA

f its portfolio) e AfDB’s Curreinancing in locpur PPI to the

g on the type obetween the

2008) Booz &

risk mitigatior investors agcontractual o

redit enhanceuarantees (PCA) offers guarand its opera

ency Exchangecal currency.

e continent (Je

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of partnershipprivate and th

Company

on tools to igainst the risobligations wiement mechaCG) in both rantees againsations in Africae Fund (TCX) Expanding exeffrey, Amado


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p, but there arhe public sect

nvestors, likek of an IDA-eith respect tonisms for bonlocal and fo

st non-commea have increashelps investoisting risk mit

ou, & Soumya,



re certain risktors. Some of

e the IDA Paeligible gover

o a private pronds and loans oreign currenercial risk maised to accoun

ors hedge currigation option, 2015)


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ks that are them are

artial Risk nment or oject. The issued by cies. The inly in the

nt for one-rency and ns such as

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5.0 CASE

It is impoNigeria aothers:

NIQS WWESTOW

Project N

Country:

Sector:

Sub-Sect

Type of P

Status

Project C

Procurem

PPP Com

Project F

any Nr. 1052250

E STUDY OF PP

ortant to havand the other

ORKSHOP: FWN HOTEL, OP

Name:

tor:

PPP

Concept

ment Details:

mpany:

Funding:

9

PP IN AFRICA

e look at somr from Lesoth

INANCE ANDPEBI, IKEJA, LA

me examples o. It is hoped

D DEVELOPMAGOS 5TH & 6

Case St

Nigeria

Transpo

Roads

Conces

Constru

The proinvolveLekki-EPhase Iapprox

The Co(“LCC”)

Lekki CARM GConcesGroup o

The prosome sNigeriaFederamajor sMutualInvestmtenuredSuppor

of PPP, thered that some le

ENT OF CAP6TH JULY, 2017

tudy 1: Lekki T

a

ortation

ssion/BOT

uction

oject is propoes upgrading ape ExpresswaI is 30 years.

ximately 20 km

oncession was)

Concession CoGroup of Comssion Companof Companies

oject cost wasupport from

a. The varioul Governmenshareholders l of South

ment Fund. Thd local-currenrt from the St

CoH

efore, below aessons would

PITAL PROJEC7 APPENDIX I

Toll Road Con

osed to be imand maintenaay on a BOTPhase II of th

m of the Coast

s awarded to

ompany Limitempanies for ty Limited (“LC

s for the execu

as funded, usm the State

s sources of t loans/grantin the projec

Africa throhe project wasncy debt finantate Governm


+

are two PPP c be learnt fro

CTS – EMERG(CASE STUDIE

cession Proje

mplemented innce of approx

T basis. The che project invtal Road on th

Lekki Concess

ed (“LCC”) is athe executionCC”) is an SPVution of this p

ing a mix of and the Fedfunding incl

ts, and privatct include Maough the As able to raisecing in Nigeria

ment of Lagos



case studies, om these case

GING SOLUTES)

ct, Lagos Area

n two phasesximately 50 kconcession pevolves constr

he Lekki Penin

sion Company

an SPV formen of this proV formed by

project

debt and eqderal Governluded DFI sote sector finacquarie Bank

African Infrase the first evea from Standa

s has been re


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one from es among

IONS AT

a

s. Phase I km of the eriod for uction of sular

y Limited

ed by the ojectLekki the ARM

uity with nment of oft loans,

nce. The k and Old structure r 15-year ard Bank. ceived in

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Project O

Key Lesso

Source: P(NIAF) content/

NIQS WOWESTOW

any Nr. 1052250

akeholders:

Outcome:

ons Learned:

PPP Manual foProgramme.

/uploads/2017

ORKSHOP: FIWN HOTEL, OP

9

or Nigeria ICR Adewumi

7/07/PAPER-1

NANCE AND PEBI, IKEJA, LA

the form

n/a

The UNState. approxtoday wLagos Iroads iholed rblockedand hproducabove-produccosts foresultin

Lessonsconsultstudy) the Lekand, ascontracthe impprojectcommuneed feffectivfinanciaprovideneed fo

C with supporAkinpelu,

1-NIQS-WORK

DEVELOPMEAGOS 5TH & 6

m of a mezza

N has forecastGiven the p

ximately one with a daily trsland of abouin Lagos, charoad surfacesd or non-exist

high journeyctivity. Improvmentioned pr

ctivity of the cor both motorng in rapid dev

s learned to tation in the as during the

kki-Epe corrids a result, toct managemeportance of mt implementatuter frustratiofor agreed pve penalty real model to ed Value-for-mor LASG to hav

rt of UKaid thFNIQS, M

SHOP-JULY-20

ENT OF CAPI6TH JULY, 2017

CoH

nine loan

t a populationpopulation of

million motoraffic flow betut 5,000,000 varacterized bys, nonfunctiontent drainage

times, higved road conroblems and citizens. Fuel r car owners avelopment of

date include:early phases

e constructiodor began to lling was sus

ent function wmanaging pubtion, as the pron with the performance s

egime; (v) theensure that

money and asve a transactio

rough the NigMRICS, MFM017-APPENDIX

TAL PROJECT7 APPENDIX I


+

of 20 millionf the state, or vehicles artween the Lagvehicles. The y crumbling nal traffic lighe systems leadgh fuel conditions will hresult in timewould also b

and the Goverthe nation

(i) the impos of the projn phase, comprotest abou

pended; (ii) twithin the Golic and investroject has beeperceived lackstandards thae need for LA

the project s a bid evaluaon advisory te

geria InfrastruM, mni hX-I-CASE-STUD

TS – EMERGI(CASE STUDIE



n in 2020 for tit is estima

re stationed gos Mainlandpoor conditiosidewalks, ba

hts, poor signd to traffic consumption, ahelp in solvine-saving and ibe saved and rnment would

ortance of staect (during f

mmunities liviut having to the need for overnment tetor perceptionen delayed resk of progressat are backe

LASG to have was afforda

ation tool; andeam

ucture Advisorhttp://niqs.orDIES.pdf

ING SOLUTIOES)


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the Lagos ted that in Lagos

d and the on of the adly pot-age, and

ongestion and low g all the ncreased thus the

d reduce,

keholder feasibility ng along pay tolls a strong

eam; (iii) ns during sulting in ; (iv) the

ed by an its own able and d (vi) the

ry Facility g.ng/wp-

ONS AT

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Project N

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Type of P

Status

Project C

Procurem

PPP Com

Project F

any Nr. 1052250

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9

Case Stud

Lesotho

Health

Health

Concessi

Construc

The projQueen Elprivate cfinancinghospital. operation

The Gocompetit(Pty) LimThe PPP was signperiod of

The privahealth caand is consortiucompany(GP’s); Abased sparm of tBasotho

The projewill be pcome frogovernmdebt is (DBSA). 1Netcare ais in the and 60%

dy 2: Nationa

on/BOT

ction

ect involves lizabeth II, an company is g, fully mainta

The project an of three urb

overnment otive bidding p

mited, a consoagreement bed in Octobef 18 years

ate consortiuare provider tlisted in theum also incy for LesothoAfri’nnai (20%pecialists and the Lesotho women’s inve

ect is expecteprovided by tom the privat

ment grant poprovided by

10% of equity and 60% by thform of loansis a mezzanin

CoH

l Referral Hos

the replacemageing facility

responsible faining and opalso features tban filter clinic

of Lesotho process for thortium led by between the Ger 2008, and

um is led by hat has opera

e Johannesbuluded Excel

o-based spec%), an investm

GP’s; D10 InvChamber of

estment comp

ed to cost USthe Governmte sector. Thertion) has a dthe Developis in the form

he remaining s (40% of whi

ne loan/bridge


+

spital

ment of Lesoty with derelictfor designingperating the nthe refurbishmcs.

undertook he project, an

Netcare, as iGovernment the contract

Netcare (40%ations in Souturg Stock Ex

Health (20%ialists and ge

ment companyvestments (10

Commerce; pany.

S$100m. 80% ent and the

e capital strucdebt-to-equitypment Bank

m of pure equiconsortium mich is a Netcae finance from



tho’s main hoct infrastructug, building, pnew 390- bedment, upgradi

an internatnd selected Tsts preferred and the conswas awarded

%), a leading h Africa and txchange (JSE%), an inveeneral practiy for Bloemfo0%), the inve

and WIC (1

of the capitaremaining 20

cture (excludiy ratio of 85of Southern

ity (40% provimembers) whiare shareholdem DBSA)


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ospital, re. The artially public ng and

tionally sepong bidder.

sortium d for a

private the UK, E). The stment tioners ontein-stment 0%), a

al costs 0% will ing the :15. All

Africa ided by ile 90% er loan

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Project O

Key Lesso

Source: PFacility content/

any Nr. 1052250

akeholders:

Outcome:

ons Learned:

PPP Manual f(NIAF) Progr

/uploads/2017

9

for Nigeria ICramme. Ade7/07/PAPER-1

The IFC aIn additio(PRG) frotheir expfailing toprovide sGlobal Paof US$6.project, t

This is a will havtransactistructureroughly thus fit icost of thextra to bhospital; the YearpioneerinAfrican csupportin

Althoughdate incattractingstructurinhaving tocan also risk guarpaymentlocal andLesotho-for a proj

CRC with supewumi Akinp1-NIQS-WORK

acted as lead on, the Goveom the Worldpense, with o make the support to theartnership for.25m, which to augment th

pioneering sve strong pons. Expecte

ed such that tequivalent tonto the Govehe services rebenefit from t(iii) the proje

r” award frong nature of tcountries, asng local busin

h the project clude: (i) the g competentng a financiallo increase thebe made morrantees fromts from the God regional stakbased GPs anject.

port of UKaidpelu, FNIQS, SHOP-JULY-20

CoH

transaction arnment has r

d Bank in ordpartial coveunitary paym

e Governmentr Output-baseis payable o

he unitary pay

ocial sector Ppositive demed outcomeshe operating o those at thernment’s affoemains the sathe higher lev

ect won the 20om media outhe deal and its well as foresses and com

is relatively nimportance

bidders to ly attractive d

e charges impore compelling

m various insovernment; ankeholders, as d specialists,

d through theMRICS, MF

017-APPENDIX


+

advisor to Lesorequested Parer to providerage against

ment. The Wt with contraced Aid (GPOBover the firstyment by the G

PPP in Africa, monstration es include: (i)costs of the n

he existing reordability envme, patients wvel of medical008 “Social In

utlet Africa-ints ability to ber the projectmmunities.

ew, some keyof robust p

a project; (iieal for the pr

osed on usersfor the privat

stitutions agand (iv) substaevidenced bybuild long-las

e Nigeria InfrFM, mni httX-I-CASE-STUD



otho’s Governrtial Risk Gua

e the consortithe Govern

orld Bank wct manageme

BA) provided at five years Government

which if succeffects for ) the projec

new facility woeferral hospitavelope; (ii) sinwill not need l services at thnfrastructure nvestor due e replicated int’s commitm

y lessons learpolitical suppoi) the possibrivate sector ws; (iii) a financte sector by seainst the failntial involvem

y the participasting diverse s

rastructure Adtp://niqs.org.DIES.pdf


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nment. arantee ium, at ment’s ill also nt. The a grant of the

cessful, future

ct was ould be al, and nce the

to pay he new Deal of to the n other ent to

rned to ort for ility of

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6.0 SUM

Infrastruccentury. The infrainfrastrucperformaThe typeneed to risk great

The impoprivate sinfrastructhrough the two private pbecomes

Energy a“Accordininvestmepromise will add melectricitygrid solut

REFEREFarlam,

Havas H

IFC . (20

Jeffrey,

NEPAD.

any Nr. 1052250

MARY

cture financinThis article e

astructure Gapcture. In exaance of PPP ines of risks andbe concernedt opportunitie

ortance of thsector agreecture • Assupayments ove• Return the

party may rets a win-win sit

alone providng to the Int

ent to achieveof Power Afrimore than 10y access by attions” (IFC , 20

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