Opinion by Tshepo Magagane Carried interest (NB: The UK has always had rule of law, unalienable property rights and good schools, the “trifecta” for capital) – I think the best line was from an MP of a key fund a few months back “we have people in offices around the world, so it wont be […]
Africa is Going to Miss Out on the Transition
Authored by Tshepo Magagane Africa is going to miss out on the Transition – I am more certain of it as each day passes! These institutions were not built with Africa’s development agenda an objective – the shock feigned shock horror from Africans is puzzling! What you should be more concerned about are institutions on […]
Gold – Premium to NAV
By Tshepo Magagane Since I started being trained in M&M 2 decades back, Gold companies always commanded a huge premium to NAV/NPV NAV/NPV is simply the Discounted CashFlows over Life of Mine! NAmerican operating companies used to command a 2.5-3.0x Premia over their NAV/NPV; SAfrica will all the “perceived issues” would command 1.8-2.0x! There was […]
Do We Need a Better World Bank
Commented by Tshepo Magagane No country develops on loans – not a single one has ever done so – let us stop conflating Equity which builds Companies and Debt (which can be used when producing and have the base in place) The Financing needs for Africa are vast Financing does not mean Loans You need […]
What’s The Equivalent of Flowers For Men?
Universal wisdom dictates that getting flowers for a woman is a small but meaningful gesture to show how much you care about her. So, then, what’s the common practice when it comes to appreciating a man? Do we even notice when we’ve been shown some love or appreciation? Let’s not lie to each other, we […]
50% of Africa’s GDP comes from 5 Countries
BY TSHEPO MAGAGANE Why it is so important to get the mining and industrial policy right for the Transition for African countries! Countries such as Zambia and DRC have an opportunity with just Copper to go from USD6bn / USD20bn revenue markets to USD60bn – USD100bn revenue markets. In the discussion, it is important to […]
Zambian Men Are Not Flashy ENOUGH!
There are certain things men used to do. They’d send a smoke signal if they were in distress or to warn another man of a dangerous beast on the loose. There was a system for warning one another of danger or opportunity. The most help we lend to one another today is when we flash […]
Don’t Believe The Hype
A Zambian man will try what he can to put a meal on the table. From getting into the transport business with a Toyota Hiace minibus to hosting motivational conferences in 2024. We are inclined to go where the money is. That’s why within minutes of meeting a guy that was begging you to buy […]
Critical Minerals (Part 5 – 30/Sep) Financing Mining Projects – What Does It Mean?
By Tshepo Magagane Critical Minerals – Financing Mining projects – what does it mean? What is the underlying/common theme in these announcements? Up to and including the Project Finance stage, you need “equity or equity-like” capital. Even at the PF stage, you need to anchor the PF facility with 50% equity (including COF and potential equity cures). Debt or debt-like instruments […]
Critical Minerals (Part 4 – 27/Sep) – How to think about Risk?
Authored by Tshepo Magagane Critical Minerals – How to think about Risk? Howard Marks In Mining; you have these “Perceived Risks” regarding the sector or regions in which you find mining Projects! Risk in Mining is not about Politics – you show that your knowledge of this sector is gossamer! Risk in Mining is Geology. Friedland has proved […]