#1NI BUSINESS IS MGREAT BRITAIN & NORTHERN IRELAND UKGCC UK - GHANA CHAMBER of COMMERCE Investing in ✓Infrastructur GIIF 0 A GHANA INFRASTRUCTURE INVESTMENT FUND INVESTOR PRESENTATION AUGUST 2020#2GIIF Background 66 What is the problem we are trying to solve? 80 Western Sahara Gambia Senegal Guinea Bissau Morocco Algeria Libya Egypt Mauritania Mali Niger Burkina Guinea Serra Leone Ivory Ghana Benin Togo Nigeria Coast Liberia Chad Cameroon Central African Republic Sudan Djibouti Somalia Ethiopia Congo Gabon Zaire Burundi How can African governments help to unlock more private sector financing to fund the infrastructure deficits? Angola Uganda Kenya Tanzania Malawi) Angola Zambia Madagascar Mozambique Zimbabwe Namibia Botswana Lesotho South Africa Swaziland |BUSINESS IS GREAT UKGCC 2 o#3How to fund African infrastructure deficits? 02 03 African governments have accepted the role of private sector in addressing the gaps 04 But not enough private sector funding is being attracted DESPITE many African reforms 05 How can an African government unlock more private sector funding for infrastructure? 06 a Ghana is leading the way with bold initiative new African governments cannot fund annual gaps alone Role of Private Dearth of private sector funding Way forward? Sector Limited 01 AfDB estimates Africa's deficit of US$108 billion restricting productivity by -40% government funding GIIF ! Infrastructure Deficit Background Demonstration Effect Model 07 Created a new risk capital investment vehicle with a mandate to work with. and attract private capital for infrastructure BUSINESS is GREAT 3 UKGCC#4GIIF Who is Ghana Infrastructure Investment Fund (GIIF) A permanent investment investment vehicle established by the Government of Ghana with US$325 million anchor equity to act as a catalyst to leverage private sector funds into infrastructure assets in Ghana. FREEDOM JUSTICE IS |BUSINESS GREAT UKGCC 4#5QUICK FACTS 1 Commenced operations in 2015 04 Unique Governance Structure 2 100% owned by 05 the Government of Ghana 03 Sector-focused on Economic & Social Infrastructure All paid-in equity balance sheet of US$325 million 06 Invested US$275m in 12 Transactions. Brought in 10x funds from other sources#6GIIF GIIF contributing to Ghana attaining SDGs GIIF implements internationally-recognized environmental management systems which integrate environmental and social requirements into our investment decisions and business processes. NO 1 POVERTY 2 HUNGER ZERO 3 GOOD HEALTH AND WELL-BEING 4 QUALITY EDUCATION SUSTAINABLE SSS DEVELOPMENT GOALS 5 GENDER EQUALITY 6 CLEAN WATER AND SANITATION 7 AFFORDABLE AND CLEAN ENERGY 9 12 RESPONSIBLE CONSUMPTION AND PRODUCTION QO 13 CLIMATE ACTION DECENT WORK AND 8 ECONOMIC GROWTH 9 AND INFRASTRUCTURE INDUSTRY, INNOVATION 10 REDUCED INEQUALITIES 14 LIFE BELOW WATER 15 LIFE ON LAND SUSTAINABLE CITIES 11 AND COMMUNITIES 16 PEACE, JUSTICE AND STRONG INSTITUTIONS PARTNERSHIPS 17 FOR THE GOALS BUSINESS IS GREAT UKGCC 6#7GIIF Diversified Infrastructure Asset Portfolio US$275 mil million US$ 2.78 bill billion Total Project Costs In 12 Committed Transactions Project Stage 10x Leverage Portfolio by Sector Equity 20% Instruments Deployed Mezz 5% Debt 75% Every sponsor backed to date has been Ghanaian Sponsor Types 4 Development 9 5 Private Construction 13% 17% 9% 12% 33% 12% 4% 2 P3 3 管 Operational Power Oil & Gas Mining ICT Transport Tourism Other Public/SOE "Aim is to do world-class projects with local sponsors" i.e. Raise the level of Ghanaian participation in infrastructure NI BUSINESS IS GREAT 7 UKGCC#8GIIF Pipeline of Selected Prospective Investments Project Name | Sector Estimated GIIF Ticket ($m) Estimated Total Project Cost ($m) Project 1 Transportation (Port) 100 275 Project 2 Transportation (Toll road) 100 500 Project 3 Transportation (Port, logistics park) 50 200 Project 4 Mining 50 500 Project 5 Transportation (Inland Port) 50 300 Project 6 Transportation (Air) 50 500 Project 7 Transportation (LRT) 150 2,600 Project 8 Affordable Housing 50 300 Project 9 Tourism/Hospitality 15 40 Project 10 Transportation (Road) 50 250 Project 11 Power - Renewable (generation) 45 300 Project 12 Power - Renewable (generation) 20 60 Project 13 ICT GRAND TOTAL 20 55 750 5,880 |BUSINESS IS GREAT 8 00 UKGCC#9GIIF Some Traits behind GIIF's Successes 100% Government GIIF has implicit government support. Supervising Minister of GIF is the Minister of Finance. A 100% government-owned entity operating in a sustainable private sector friendly manner, conveys government commitment and lower risk Strongly Capitalized Anchor equity fully paid in and present on GIIFs balance sheet (as opposed to being a "commitment") Large enough institution to have credibility and an ability to both disburse its own funds and raise external finance for its projects Strong Governance An independent private sector Board with no serving politicians Non day-to-day government investment decisions, but strong oversight and government involvement on sectors Strong Risk Management O GIIF utilizes the services of external and independent world class legal, financial and technical consultants to appraise potential new investments Proven Management Led by a CEO who is a recognised Infrastructure specialist having personally led over US$4billion of such investments across Africa CFO with global PE credentials Mandate Fit Very Strong fit with the Mandate of most DFIs and IFIs Ability to create sub-funds BUSINESS IS GREAT UKGCC 9#10GIIF GIIF: Quietly addressing Ghana's Infrastructure Deficit... (M) Manha Beach Resent US$16.7m HOSPITALITY INDUSTRY AFC US$1.45B DEVELOPMENT FINANCE INSTITUTION ghana airports Ibis Tek US$450m KOTOKA INTERNATIONAL AIRPORT TERMINAL 3 & DOMESTIC AIRPORTS US$210m ON DOCK CONTAINER & MULTIPURPOSE TERMINAL Spectrum Fibre Co. US$42m WESTERN CORRIDOR FIBRE OPTIC PROJECT (881km Backbone Fibre) ME Marinus Energy US$70m ATUABO POWER PLANT PROJECT (31MW GE Gas Turbine) 2016 2016 ROTAN POWER US$513m MMARSHALL OIL & GAS SERVICES US$47m OIL JETTY DEVELOPMENT OF 330MW COMBINED CYCLE GAS PLANT (2.85 million MT per annum capacity) 2017 2018 2017 2017 2017 2017 pullman US$119m ACCRA AIRPORT CITY HOTEL (300 plus keys hotel & serviced apartments) ✓ Woodfields Energy Resources US$90.6m 105,000MT FUEL STORAGE DEPOT AiskyTrain CONSORTIUM US$1.2B ACCRA SKYTRAIN PROJECT (256km Elevate Light Rail) Project Development CARDINAL ALSOURCés US$400m CARDINAL RESOURCES LIMITED (5.1MoZ Gold Concession) 2018 2018 2018 2020 The Ghana Infrastructure Investment Fund (GIIF) is a new type of infrastructure investment partner in Ghana. We: Provide equity and debt across a broad array of sectors including Power, Oil & Gas, Mining, Transport Infrastructure, Agribusiness, ICT, Hospitality and Affordable Housing Invest alongside you from our capital of US$325 million from the Ghana Government Understand both public sector concerns and private sector needs to make projects bankable, generate competitive returns and manage risk. So if you want to invest in Ghana, come and talk to us. We can work with you, walk with you and invest with you. We may just be the partner in Ghana you have been looking for... The GHANA INFRASTRUCTURE INVESTMENT FUND; Your preferred investment partner in Ghana. IS BUSINESS GREAT UKGCC 10#11Thank You GIIF Location: W: E: 9th Floor World Trade Centre 29 Independence Avenues Box CT 9300, Cantonments Accra, Ghana. www.giif.gov.gh [email protected]