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Africa Trade Finance Week

Cape Town, South Africa | March 4-6, 2013
The Westin Cape Town

Event Review

Exporta returned to Cape Town for its Africa Trade Finance Week, the newly extended version of the Annual Africa Trade & Export Finance Conference, which took place on March 4-6.

Firmly established as the most comprehensive gathering for Africa-focused trade and export finance professionals in the market, much was discussed over the course of the three days, in a format that incorporated various workshops, stream sessions, training simulations and networking functions, with increasing attention turning towards Africa and the trade flow potential offered by its vast commodity resources.

Discussions centred on a range of topics, with the impact of the global economic slowdown, the Eurozone debt crisis and tougher capital requirements on international bank lending into Africa being a key theme, with trading companies now increasingly turning to finance African trade transactions, at a time when the continent’s trade continues to grow across a broad range of sectors and geographies.

“The scale of trade finance opportunity is substantial when considering that Africa’s exports alone grew to $500 billion (R4.5 trillion) in 2012 from $445bn in 2011,” said Craig Polkinghorne, Global Head of Structured Trade & Commodity Finance at Standard Bank, lead sponsors of the event. “It is something of a phenomenon that the general tightening of global credit continues to curtail availability of commodity trade finance from the traditionally dominant players, even as African countries ramp up trade relations with the fastest-growing economies.”

Polkinghorne added that many banks had reviewed risk appetite and had withdrawn from or limited their exposure to trade finance in Africa, creating an opportunity for other industry players to fill the vacuum. “This has created great opportunities for African banks to be more active in trade finance because they have strong balance sheets, the necessary capital and liquidity, and risk appetite. For domestic currency transactions they also have competitive funding costs compared to global counterparts.”

Around 300 delegates were in attendance over the course of the event, which also incorporated a Risk Decision-Making Workshop in collaboration with ratings agency Moody’s and The Cool Connection, a web-based supply chain simulation workshop organised to engage participants in supply chain management, purchasing, sales and finance.

“Rest assured, Africa is now very much seen as the place to do business in global trade,” said Peter Gubbins, Managing Director of Exporta. “The interest shown in this market by all manner of global institutions and organisations throughout the world and the sheer number of notable transactions we see taking place here reaffirms the wider significance of the market.”

The event concluded with the presentation of the GTR Africa Leaders in Trade Awards 2012, followed by the magazine’s Africa Editorial Board Meeting, published in the May-June 2013 issue of GTR.

Description

Exporta’s Africa Trade Finance Week, incorporating the 7th Annual Africa Trade & Export Finance Conference alongside various stream sessions, roundtables, workshops and networking events, will be taking place in Cape Town on March 4-6, 2013.

Now firmly established as the premier trade finance gathering in the region, the new extended format will encompass the significance of the regional and global trade flows in one of the world’s most attractive and lucrative markets.

Reflecting on the impressive growth being experienced in the region, attending delegates will have much to discuss, with particular focus on the changing funding priorities and requirements of African companies as they continue growing their trade flows. With over 250 delegates expected in attendance, including companies of all sizes and from all manner of sectors, strong focus will be placed on the role of both Africa's huge commodity resources, as well as the continuing need for infrastructural development.

Recognising the importance of face-to-face interaction when conducting business, huge emphasis will be placed on the importance of networking over the course of the week, with delegates being given the opportunity to plan and organise private meetings via Exporta in the lead-up to proceedings.

Who should attend?

Local and international banks
Multinationals and SMEs
Independent financiers
Commodity brokers and traders
Insurance brokers and underwriters
Export credit agencies
Lawyers and consultants
Solution providers
Multilaterals
Market analysts and policy advisors

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Moody's Risk Decision-Making Workshop

The influence of leaders and culture

March 4, 2013

This is an interactive workshop that will raise your awareness of the human and cultural factors influencing judgment and decision making related to risk. The workshop will challenge you to examine how you reach your decisions, and the wider impact of the decisions you make. The case studies will explore the influence of leaders on organisational culture and enable you to reflect on the culture of your own organisation.

INSTRUCTOR

Sarah Tennyson

Director & Faculty Head, Professional Development, Moody’s Analytics

13.00 Registration and refreshments

13.30 Human factors in decision-making

● Individual factors that influence decision making

● Interpersonal factors that influence decision making

● Brain structures and decision making

14.15 Leadership lessons from the financial crisis: Case study

● Increased scrutiny by Regulators of the ‘fitness’ of Leaders

● Case study: why disasters occur and how they can be better managed

15.00 Refreshment break

15.30 Influencing the culture of risk management in your organisation

● A working definition of risk culture

● Ways in which leaders influence culture

● Case study

16.15 Culture change: Case study

● Worked example of a culture change project within the banking sector

17.00 Close of workshop

7th Annual Africa Trade & Export Finance Conference

March 5, 2013

Day One

08.00 Registration and refreshments

09.10 Chairman’s opening remarks

Ebenezer Essoka, Chief Executive Officer, Standard Chartered

09.25 Observations on the corporate financing landscape and predictions for the future

Moderator: Anne-Marie Woolley, Managing Director, Head of Structured Trade & Commodity Finance, Africa, Standard Bank

Dayo Okusami, Group General Counsel & Company Secretary, Atlantic Energy

Ian Henderson, Managing Director, MRI Resources South Africa

Sameer Gupta, Finance Director, Stallion Group

Jean Craven, Head of Corporate Finance, Export Trading Group (ETG)
Tosin Adewuyi, Managing Director, Senior Country Officer, Nigeria, J.P. Morgan

•Examining to what extent Africa-based companies have been exposed to the Eurozone crisis: What impact has this had on the cost and availability of trade finance?

•Where are companies seeing the best opportunities at present? What are the primary new markets emerging on the continent? What measures are local corporates taking to maintain competitiveness?

•What are the key criteria for selecting a financier when undertaking African business? Does it all come back to pricing in the current climate? What role do local banks have to play?

•Have companies taken sufficient steps to diversify their funding portfolio? Is greater long term local currency financing likely to materialise?

•Analysing some of the risk mitigation issues being faced by corporates: Can financial institutions do more to assist here?

•The role of export credit agencies in providing longer term funding: Is this likely to increase or is it only really relevant to certain industry sectors?

10.15 The Sub-Saharan political and economic climate in 2013

Elizabeth Stephens, Head of Credit & Political Risk Analysis, JLT Specialty

•Lessons learned from 2012: Investment patterns and sources of funding for trade now and for the future

•Considering the implications for South Africa's stability and growth amidst sovereign downgrade, large-scale strikes, controversial mining legislation and fissures within the ANC

•Political risk trends in key territories for 2013: Where are the investment opportunities and how should Sub-Saharan Africa capitalise on its resources?

•Who are the buyers for Sub-Saharan credit and political risk and how should you engage them?

10.55 Networking break

11.40 Social infrastructure finance: Trade rather than aid

Gabriel Buck, Head of Capex Financing Solutions, Barclays Capital

•Profiling the recent Ghana Ministry of Finance syndication for financing the construction of seven hospitals

•Examining the opportunities provided for new bank clients through involvement in such multi-faceted transactions

•Highlighting the role of ECAs in serving the public mandate of such transactions by allowing banks to offer clients more attractive terms

•Examining how banks and governments can work together to provide greater transparency and accountability: How with strong corporate governance these projects can be closed in record time

•Do such transactions have the potential to act as a benchmark in terms of timing and the model being used?

•How such transactions demonstrate the appeal as an alternative to the standard forms of finance: What are the pros and cons?

12.10 Are Africa’s infrastructural challenges fatally undermining its industrial progress?

Moderator: Chris Mitman, Head of Export & Agency Finance, Investec Bank

Rick Angiuoni, Director, Africa, Global Business Development Division, US Export-Import Bank

David Humphrey, Global Head, Power & Infrastructure, Standard Bank South Africa

Taiwo Adeniji, Director & Head, Financial Institutions & Advisory Services, Africa Finance Corporation (AFC)

Brian Irvine, Head of Corporate Business Development, Africa, Investec Bank

•Examining how the cost of transporting goods provides the biggest hurdle to increasing levels of intra-regional trade: What can be done to reduce these?

•Are governments beginning to wake up to the need for investment in the construction of new transport links? What role does improved governance have to play in realising development strategies?

•Assessing increased Chinese and Indian involvement in road and railway financing as a result of Africa’s growing role as a provider of raw materials

•How significant has been the retrenchment of European banks back towards their domestic markets in meeting these financing challenges?

•What role do alternative financiers such as development banks have to play in light of a shortage of long term bank finance?

•Considering the role that the international capital markets have to play in generating funds through debt issuances and sovereign bonds: Is this a trend that is set to increase?

13.00 Lunch

Stream A (14.10-17.20) New challenges and opportunities in the commodity finance space

Chair: Farrukh Siddiqui, Managing Director, Head of Trade Middle East & Africa, Treasury Services, J.P. Morgan

14.10 The changing landscape in financing soft commodity trade flows

Moderator: Jean Craven, Head of Corporate Finance, Export Trading Group (ETG)

Louis Kotze, Financial Director, Noble Resources

Zhann Meyer, Head, Africa Business, Nedbank Capital

Lodewyk Meyer, Director, Banking & Finance, Norton Rose

Bogdan Rascanu, Group Development, Ace Global

Megan McDonald, Director, Head of Structured Trade Finance, Standard Bank

•Addressing concerns over Eurozone contagion: Has falling demand for African commodities materialised?

•Has the market witnessed increased volatility in commodity prices and if so which commodities have been most impacted?

•Is demand for commodities from emerging markets such as China, India and Brazil likely to make up for this shortfall? Are some commodities likely to remain more stable in their demand than others?

•Evolving funding needs and financing requirements: What options do borrowers have at present? Who are the new market entrants and how have they altered the landscape?

•Assessing the need for improved investment warehousing, ports and processing infrastructure: Are companies taking matters into their own hands?

•How growing private equity investment in trading companies reflects commodity growth as an asset class in Africa

15.00 The role of commodity exchanges and inventory financing in boosting the agribusiness sector

Moderator: Prieur du Plessis, Chief Investment Officer, Barak Fund Management

Chris Sturgess, Director, Commodity Derivatives, Johannesburg Stock Exchange

Zhann Meyer, Head, Africa Business, Nedbank Capital

Dheerie Govender, Business Development Manager, Global Collateral Control

Henry Brook, Head of Structured Inventory Products, Africa, Standard Chartered

•Considering the advantages of inventory financing deals in linking bank lending to the value of physical assets: Are banks increasing their lending levels accordingly?

•Outlining the benefits for smallholder producers in using warehouse receipts as collateral when seeking finance

•Is it realistic to expect such an approach to provide more transparent pricing and therefore create more confidence in local markets?

•Considering the renewed focus on financing through ownership structures: What role does Basel III have to play in terms of pricing limitations?

•Ensuring sufficiently robust legal and physical exchange structures to support transactions in different jurisdictions

•To what extent has bureaucracy and political wrangling stunted the progress of establishing and developing commodity exchanges across the continent?

15.40 Networking break

16.05 Developments in the East African oil and gas sector: Recent discoveries and summary of operators

Robert Besseling, Deputy Head of Africa Forecasting, Exclusive Analysis

•Mozambique: Revisions to the Petroleum Law and implications for existing and new investors

•Tanzania: The Gas Master Plan and the role of Tanzania Petroleum Development Corporation

•Kenya: Elections, institutional capacity and momentum behind energy reform

•Community unrest, risks to off-shore assets and counter-piracy measures

16.30 Prevailing themes and new frontiers in the hard commodity sector

Moderator: Ian Henderson, Managing Director, MRI Resources South Africa
Simon Loughor-Clarke, Head of Metals, Global Commodity Finance, Nedbank Capital

Connor Sexton, Commodity Surveyor, Alfred H Knight

Peter Sprent, Head of Global Financial Risk, Liberty Syndicate
Hiren Singharay, Head of Syndications, Europe Africa & India, Standard Chartered

•Looking at the important role played by regional banks as more trading companies establish a permanent presence in Africa: To whom are producers turning to for working capital?

•Assessing the expansion of metals trading across various markets in Africa as projects wait to go online: What has been the impact of project slowdown?

•Do financiers now have to look for more structured deals when sourcing smaller opportunities? What is the current pricing environment?

•With regards to obtaining financing, what role do traders have to play here? How does this compare with the role of the equity markets?

•What impact has the growing popularity of renewable energy projects had on the hard commodity market? How is this likely to evolve?

Stream B (14.10-17.20) New market opportunities and ECA financing priorities

Chair: Simon Sayer, Head of Structured Trade & Export Finance, Deutsche Bank

14.10 Africa-Asia trade flows and the changing profile of Asian institutions on the continent

Moderator: Shannon Manders, Editor, Global Trade Review (GTR)

Michael Marnell, Senior Director, Head of Trade Finance Solutions EMEA, Mizuho Corporate Bank

Eric Finaughty, Chief Executive Officer, Rand-Asia

Windsor Chan, Deputy General Manager, Johannesburg Branch, China Construction Bank

Natasha Robinson, Technical Sales Specialist, Global Trade, East & Southern Africa, Treasury Services, J.P. Morgan

•Are commercial Asian banks taking greater risk in Africa? Is their business of trading directly crowding out the trading companies?

•Bringing Asian banks in to African syndicates: What are the success stories?

•Striking alliances: Examining how providential African banks are acquiring strategic stakes in Asian banks

•African banks: How to woo the sought-after Asian firms operating on the continent

•The other side: The benefits available for African corporates through establishing permanent operations in Asia

15.10 Intra-regional trade: A sleeping giant?

Edward George, Head of Soft Commodities Research, Ecobank

•How well developed is Africa's intra-regional trade? How does it compare with other regions of the world?

•What are the key commodities in Africa's intra-regional trade?

•How do intra-African trade flows vary from region to region, and which countries are driving it?

•What are the main constraints blocking the development of intra-regional trade?

•Africa’s trade corridors: Where are the leading trade hubs and which new ones are emerging?

15.40 Networking break

16.05 Export credit in Africa: The best way forward?

Moderator: Clarine Stenfert, Managing Director, Export Finance, Global Trade, Europe Middle East & Africa, Treasury Services, J.P. Morgan

Yusuf Ali Khan, Director & Head of Structured Trade & Export Finance, Africa, Citi

Andreas Klasen, Partner, Head of Export Credit Guarantees, PricewaterhouseCoopers

Faruq Muhammad, Regional Head, Middle East & Africa, Structured Export Finance, Standard Chartered

Philna Potgieter, Head: Africa and Export Credit Finance, Nedbank Capital

Mandisi Nkuhlu, Chief Operating Officer, Export Credit Insurance Corporation of South Africa (ECIC)

Chris Mitman, Specialised Finance, Capital Markets, Investec Bank

Richard Hodder, Managing Director, Europe & Sub-Saharan Africa, Export Credit & Global Specialised Finance, HSBC

•Overcoming liquidity gaps due to refinancing difficulties: How has the role of export credit agencies evolved in terms of their market offering?

•Are we seeing greater demand for ECA cover in Africa as a result of increased difficulty in securing long term financing?

•How can the market provide better support for SMEs? How are banks and ECAs working together to achieve this?

•Which industry sectors are witnessing the highest volumes of ECA coverage at present? Is this solely based on length of tenor or are there other factors to take into account?

•Comparing the dynamic between established OECD ECAs and newer operators in the market: How can they pool their resources for mutual benefit?

•Which ECAs are most active across Africa at present? Which ones are expected to play the biggest role over the next few years?

17.20 Close of Day One followed by evening networking reception

Day Two

09.00 Chair’s morning remarks

Anne-Marie Woolley, Managing Director, Head of Structured Trade & Commodity Finance, Africa, Standard Bank

09.10 Mauritius: An entry point for doing business with Africa

Antony Withers, Chief Executive, Banking, Mauritius Commercial Bank

•Highlighting the growing role of the island as a launching point for local and international companies looking to move into the African trade space

•Diversification strategies: How active does the country have to be in looking for alternative sources of growth and revenue as demand shifts away from traditional European trading partners?

•Has the emergence of the China-Africa trade corridor proved the catalyst for increased focus on Mauritius? Is the country now seen as a regional logistics and distribution trading hub?

•Examining efforts to position Mauritius as a re-export hub for moving goods between Africa and Asia: What roles do government initiatives have to play in broadening appeal?

•How growth in the market has encouraged a widening of the offering provided by local and international banks to incorporate trade and commodity finance

•Considering recent trends for offshore listing on the Mauritian Stock Exchange and tapping into investor appetite: How far can Mauritius take itself?

09.40 Highlighting trade and investment challenges and opportunities in Zimbabwe

Moderator: Omen Muza, Managing Director, TFC Capital Zimbabwe

Gift Simwaka, Regional Manager for Zimbabwe, Afreximbank

Babajide Bode-Harrison, Assistant Director, Structured Trade Commodity Finance, FBN Bank

Kenias Mafukidze, Founder & Chief Financial Architect, KM Financial Solutions

•What impact has the requirement of new capitalisation levels for the banking sector had on availability of trade finance in the liquidity-constrained Zimbabwean market?

•Do such requirements have the potential to permanently change the banking sector? Is the market likely to witness a spate of bank mergers and acquisitions?

•What role is foreseen for the proposed commodity exchange in Zimbabwe in terms of helping Zimbabwean farmers gain access to finance? Can it fulfil its stated objectives?

•With the mining sector at the forefront of efforts to drive the economy, how is the banking sector managing the value chain and providing sufficient levels of finance? What role does agribusiness have to play as another thriving market?

•What role does the credit reference bureau have to play in light of the looming spectre of credit default?

10.30 Networking break

11.00 Market profile: Assessing growth in Angola

Moderator: Ricardo Ferreira, Country Manager, Luanda Representative Office, Nedbank Capital

Joaquim Nunes, Board Director, Banco de Negócios Internacional (BNI)

Edward George, Head of Soft Commodities Research, Ecobank

Dinis Mendes, Head of Corporate Banking & Transactional Products & Services, Standard Bank Angola

João Afonso Fialho, Partner, Miranda Law Firm

•Providing an introduction to the Angolan market with particular focus on the banking and import sector

•Assessing the current methods of trade finance being applied in the country and considering the potential financing methods not yet developed

•What has been the impact of recent regulation by the BNA on the trade finance sector?

•Profiling some of the typical deals being implemented across a range of industries

•Is there sufficient export finance appetite for Angola from the major export credit agencies?

11.45 Agribusiness in Africa: A trader's perspective

Bikash Prasad, Chief Financial Officer, Southern & Eastern Africa, Olam International

•Observing the latest mega trends in African agribusiness: Why should people be looking to agribusiness development?

•Examining issues currently being faced by agribusinesses and core pillars of development from enhancing productivity to improving infrastructure

•Africa's time: Improving the attractiveness of the agribusiness sector and making a case for increased investment

12.25 Considering Africa’s new trade corridors: How have strategies changed and what does the future hold?

Moderator: Gabriel Buck, Head of Capex Financing Solutions, Barclays Capital

Craig Polkinghorne, Global Head of Structured Trade & Commodity Finance, Standard Bank

Simon Cook, Partner, SNR Denton

Peter Grevendonk, Regional Head Africa, Trade, ING

Rupert Cutler, Managing Director, Financial and Political Risk, Newman Martin & Buchan

Gregory Havermahl, Head of Structured Trade & Commodity Finance, Rand Merchant Bank

Pieter Gorgels, Investment Officer, Financial Institutions, Africa, FMO

•Looking at how the pressure placed on European banks to reduce their exposure has impacted on their ability to undertake trade finance in the region: Have local institutions filled the gap here?

•How has the perception of doing business in certain African markets changed with regard to the trading environment and the speed of transactions?

•New ways of doing business: Focusing on recent engagement in ECA and capital markets facilities and their significance within the market

•Are banks becoming more selective in the types of transactions they wish to undertake?

•Examining intra-African transactions across multiple regions: Who is providing the funding?

•What risk evaluation criteria do you use when assessing an application for trade finance in Africa? What are the variants?

13.15 Close of conference followed by networking lunch

The Cool Connection, Supply Chain Simulation

Finance Meets Supply Chain

March 6, 2013
09.00 - 17.00

This workshop is structured around an innovative web-based game called The Cool Connection. It engages participants in making strategic decisions in the management of a manufacturing company specialising in personal care products.

Working in teams of four, participants will represent the functional roles of sales, purchasing, supply chain and finance. They will be confronted with various real-life, real-time dilemmas. Cross-functional understanding and collaboration are key components, as teams work together to turn the company around.

"It is a challenging test of decision making, commercial awareness and learning agility that requires each individual to understand the impact of their role and actions on the profi tability of the whole business. It also off ers an excellent opportunity for networking and learning best practice from other businesses."

Adam Lockwood, MARS (UK)

There are a limited number of 40 participant spaces available, so early booking is strongly advised.

Topics covered in the training:

SUPPLY CHAIN MANAGEMENT

Aligning supply chain strategy to competitive strategy

Cost efficient versus agile supply chains

Principles of inventory management and safety stock

Warehouse optimisation, lot sizes and production intervals

PURCHASING

Managing delivery reliability and supply chain risk

Supplier selection and delivery windows

Trade unit and modes of transportation