Africa capital solutions starting to take shape… We just did last mile capital into PF for a mining project; this was local capital! We are working to unlock the Western Corridor of Zambia – DBSA, FQM, BHL, and others – local & regional capital pools! Why I always say, you need for the GEPF, PIC, […]
Mining Mergers & Acquisitions
By Tshepo Magagane Mining M&A, does it solve anything? – the biggest problem is that it does not bring virgin ore to the market and worse, the ecosystem of juniors being turned into mid-tier single projects and then being acquired by the majors has totally broken down. In addition, capital from Merchant Banks is lacking […]
MSCI Metals v World (Mining Returns)
By Tshepo Magagane Banking is about creating that deal list! I never really got any reprieve when we joined from the M&M team (was sector agnostic largely) but it was honestly deal after deal! People who made proper money in mining positioned in the late 90s into the early 00s – that is when you […]
Higher Finance In Mining
By Tshepo Magagane Cap-floor-mechanisms – why did lenders stop requiring hedging as part of the CP for Project Finance? Hedging makes money for the provider, not the producer – see the hedge unwind costs that normally go through the P&L of miners… …well over 2 decades including the last super-cycle – have never seen it […]
Dr. Samuel Maimbo’s AfDB Bid: Lessons in Regional Unity and Strategic Leadership
Final Thoughts By Ceaser Siwale (31.05.2025) The recently concluded election for the presidency of the African Development Bank (AfDB) saw Zambia’s Dr. Samuel Munzele Maimbo mount a determined and commendable campaign, ultimately concluding with the victory of Mauritania’s Dr. Sidi Ould Tah. While Dr. Maimbo’s candidacy was backed by impressive technocratic experience and innovative reform […]
Sidi Ould Tah Elected New President of the African Development Bank
Observations By Ceaser Siwale (30.05.2025) Mauritanian economist and seasoned development finance expert Sidi Ould Tah has been elected as the ninth President of the African Development Bank (AfDB), securing an overwhelming 76.18% of the vote at the bank’s annual meetings held in Abidjan, Côte d’Ivoire. He is set to succeed Nigeria’s Akinwumi Adesina and will […]
Redefining Leadership at the AfDB: What Makes an Ideal President?
Opinioned By Ceaser Siwale (penned 28 May 2025) As the African Development Bank (AfDB) prepares to elect its new president on 29 May 2025, the stakes have never been higher. The AfDB stands at a critical juncture, navigating complex financial headwinds, geopolitical dynamics, and the pressing need for impactful development across Africa’s diverse landscape. The […]
Higher Finance
Perspective By Ceaser Siwale When we started in “high finance”, European Private Equity had a total AuM of cUSD30bn – average fund sizes were around USD750m to 1bn. German unions used to call PE really unsavoury names. From mid-00s to now, we have seen this industry flourish (followed on by private credit – this is […]
Postcard from Zambia – Mining & Planting Its Way To A Recovery
Visit Summary By Kato Mukuru and Russell Curtis Mining & planting its way to a recoveryWe recently had the pleasure of spending a week in Lusaka with our regional partners, Pangaea Securities. Whilst a lot of our time was spent indoors with Pangaea’s analysts, we did get to meet a number of blue chip corporates […]
Trump’s Second Term: The First 100 Days
Observation By Ceaser Siwale President Donald Trump’s return to the White House in January 2025 marked a whirlwind of executive action, sweeping policy shifts, and renewed ideological battles. Within his first 100 days, Trump issued 141 executive orders, reshaping immigration, energy, education, and foreign policy. While supporters hail this period as the dawn of a “Golden Age,” […]