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 Equity Capital

You would not have any of the S&P companies without Equity Capital

Smart models to unlock local capital pools are required

The Transition presents a fantastic opportunity for Africa

“for the first time in history, the G7 and Africa’s interests are aligned…wont last” – I loved these words from a senior at a multilateral

And you cant have the Transition without Africa

Let us move away from previous paradigms in unlocking solutions

I spoke about just the Artisanal mining opportunity in Zambia, even if you unlock it partially, it will be so catalysing

Zambia is going to need USD12-15bn to unlock independent projects in Copper (Global Specialist Capital sits at USD10bn ex credit products and USD17-20bn all-in)

Creative, new, bespoke, esoteric solutions are required

The excuse of “we do not do that” does not cut it anymore

NB: let us stop with these capacity building exercises – the largest Infrastructure Fund was built by an African – we are based and gained world-class experience in these bluechip institutions – closing landmark deals – we have the capacity; we lack the capital!