Gri Africa Summit2016

The 4th Annual

GRI AFRICA SUMMIT2016

Connecting African and Global Real Estate Leaders

20-21 OCTOBER • JOHANNESBURG HYATT REGENCY

PROGRAMME 1 TIPS

HERE ARE A FEW TIPS THAT As no one will prompt you, please join the discussion room of your choice in good time. Rooms tend to MAY BE HELPFUL IN GETTING fill up after a discussion starts so you need not be concerned by a near empty room. THE MOST OUT OF THE GRI... This will quickly change.

Some participants speak so softly as to be unheard by GRI discussions are not panels. They are like most. Speak up and remind others to do so if you after-dinner conversations in one’s own living room can’t hear them. with good friends, under the guidance of a moderating Chair. Avoid monopolizing conversation, self-promotion or commercial pitches, as the Moderating Chair has been Everyone participates equally, not just the Discussion urged to cut them off. Chair & Co-Chairs. The job of the moderating Chair is to make everybody talk and engage. Discussion Co-Chairs The GRI format was designed to enable senior sit scattered about the room and participate no more industry leaders to share, learn and make friends in and no less than anyone else in the room. as natural, spontaneous and collegial a setting as possible. If connecting with new partners is useful, we We welcome your suggestions as to how we can encourage you to engage as vocally and actively as do better. you might enjoy. This will enable others to get to know you and vice versa. University of Witwatersrand students will be taking notes during your discussions in order to send an The Moderating Chair will address questions directly overview to all participants post event. No individual to participants by name or by gesturing towards names will be included in the document. them, not just to anyone in the room at-large, as that is usually greeted with pregnant silence. Even so, you are encouraged to comment, question, dissent or otherwise interject.

MEDIA PRESENCE

While journalists may sometimes take notes during discussions, they only ever do so after signing a “Chatham House” confidentiality agreement under which they commit not to quote for attribution to a person or to a company, except with specific consent from the respective parties. In addition, students or other reporters may summarize most of the discussions and take notes that are subsequently distributed to all participants.

2 WELCOME

WELCOME TO THE AFRICAN CHAPTER OF GRI’S GLOBAL MEETINGS...

Welcome to the GRI Africa Summit, a gathering of leading investors, developers and lenders shaping the future of the continent. We welcome back our loyal constituents and extend a warm greeting to those joining us for the first time. As you already know, GRI meetings are like nothing you have ever attended before. The discussion groups are not participated affairs, not polite conversations. We encourage you to question, interrupt disagree and let the world know what you think.

Connect, smile, and enjoy the GRI Africa Summit.

Neall De Beer Robert Marten Director - Africa Managing Director GRI - Global Real Estate Institute GRI - Global Real Estate Institute

3 NOT FINAL at time of press THURSDAY 20 October Please check handout update

Time/Room ILANGA 1 ILANGA 2 NINA 2

13:30 - 14:30 CHECK-IN

ECONOMIC KEYNOTE: EUVIN NAAIDOO, PARTNER AND MANAGING DIRECTOR,  NINA 1 ROOM 14:30 - 15:30 THE BOSTON CONSULTING GROUP, SOUTH AFRICA

15:30 - 16:15 NETWORKING BREAK DISCUSSIONS

PARTNERSHIPS & JV’S HOTEL HOTSPOTS WEST AFRICA Devil you do, devil you don’t? Which cities offer the best value? Rebounding or worse to come?

16:15 - 17:30

Craig Smith Victor Sodala Xander Nijnens Alexandre Smertnik Michael O’Malley Tony Kay Yofi Grant Greg Pearson Vincent Joyner Jameel Verjee Tunji Abdul Cyril Tay Joseph Seth Aidoo Tejas Shah Xander Nijnens Chuka Ajekwu

17:30 - 19:00 DRINKS RECEPTION AT THE HYATT REGENCY JOHANNESBURG (FOLLOWING GRI DISCUSSION SESSION) 19:00 DINNER AT THE GRILLHOUSE

ILANGA 1

GRI ENTRANCE Cafe ILANGA 2

ATRIUM NINA 2

4 The official language of the discussion groups will be English. NOT FINAL at time of press FRIDAY 21 October Please check handout update

Time/Room ILANGA 1 ILANGA 2 NINA 2

CHECK-IN 09:00 - 10:00 LIGHT BREAKFAST & NETWORKING

 NINA 1 ROOM KEYNOTE TALKSHOW: BROTIN BANERJEE, MANAGING DIRECTOR & CEO, TATA HOUSING, INDIA  NINA 1 ROOM 10:00 - 11:00 OLIVIER FRENDO, MANAGING DIRECTOR, GOLDMAN SACHS, SOUTH AFRICA

NETWORKING BREAK 11:00 - 11:30 NETWORKING BREAK DISCUSSIONS DISCUSSIONS

OFFICES & MIXED USE EAST AFRICA HOTEL RISK & REWARD Appetite for risk but where to feast? Gaining momentum or status quo? Fair allocaction between owner, operator and lender?

11:30 - 12:30

Ewout Holst Heidi Rix Kevin Teeroovengadum Peter Muraya Xander Nijnens Alexandre Smertnik Nicholas Corbishley Hannah Subayi Jonathan Jackson Toby Selman Vincent Joyner Jameel Verjee Charles Dale Ramsden Dan Kagagi Tejas Shah

DRINKS RECEPTION AT THE HYATT REGENCY JOHANNESBURG (FOLLOWING GRI DISCUSSION SESSION) 12:30 - 13:30 SEATED LUNCH DINNER AT THE GRILLHOUSE DISCUSSIONS

FRANCOPHONE, CENTRAL & LUSOPHONE INVESTMENT STRATEGY AFRICA Retreat or double down? Hidden gems or too much risk?

13:30 - 14:30

George Nicholls Arthur Mambou Anthony Lewis Deon Bruwer Herve Mama Ilaria Benucci Mauro Martins Cheick Sanankoua Umaru Mutallab

14:30 - 15:00 NETWORKING BREAK DISCUSSIONS

PAN-AFRICA CAPITAL MARKETS AFFORDABLE HOUSING Is liquidity improving? All talk or positive steps?

15:00 - 16:00

Anthony Lewis Peter Levett Brotin Banerjee Bronwyn Corbett Warren van der Merwe Paul Obanua Christine Glover Godfrey Tapela

16:30 FAREWELL DRINKS

THURSDAY • 20 October FRIDAY • 21 October

13:30 - 14:30 Check-in 09:00 - 10:00 Light breakfast & Networking 14:30 - 15:30 Economic Keynote 10:00 - 11:00 Keynote Talkshow 15:30 - 16:15 Networking Break 11:00 - 11:30 Networking Break 16:15 - 17:30 Discussions 11:30 - 12:30 Discussions 17:30 - 19:00 Drinks Reception 12:30 - 13:30 Seated Lunch 19:00 Networking dinner 13:30 - 14:30 Discussions 14:30 - 15:00 Networking Break 15:00 - 16:00 Discussions 16:30 Farewell Drinks

5 DISCUSSIONS 20 OCTOBER • THURSDAY

ECONOMIC KEYNOTE  14:30 - 15:30 NINA 1

ECONOMIC KEYNOTE Examining the Latest Developments in Africa

Euvin Naidoo has joined the Boston Consulting Group as the first South African Partner and Managing Director in the Johannesburg Office. He leads the Financial Services (focus on Banking and Insurance) and the Public Sector Practices for BCG across Africa and South Africa. Selected in 2009 as a Young Global Leader at the World Economic Forum, in 2012 he was recruited to the Forum’s Global Agenda EUVIN NAAIDOO Councils, where he currently serves on the United States Council. Euvin’s experience Partner & Managing Director THE BOSTON CONSULTING GROUP in financial services encompasses Corporate & Investment Banking, Personal & South Africa Business Banking, Insurance as well as Risk. In 2004 he was recruited to join one of Africa’s leading pan-African banks, Standard Bank, within Corporate & Investment Banking, where focused on Acquisition Finance, initially based in Johannesburg and then, from 2005, in the New York office. He returned to South Africa from the USA in 2009 to head up the Risk Appetite & Credit Portfolio Management team for Standard Bank working across all personal and business banking (PBB) product lines covering a 17 country pan-African footprint, including South Africa. In 2013, Euvin joined the Barclays Africa Regional Management EXCO, where he served as the Head of Strategy for Barclays Africa, Regional Management, leading the bank’s strategy across its 11 country ‘Rest of Africa’ portfolio. Columbia University’s Journal of International Affairs has named Euvin one of the ‘Five Faces of African Innovation and Entrepreneurship’. In 2011, he was selected by Forbes as one of the African continent’s Top 10 most ‘Powerful and Influential Men’ of his generation. Euvin brings a wealth of financial services and industry insights to the BCG team coupled with strong on the ground experience across multiple geographies.

PARTNERSHIPS & JV’S - Devil you do, devil you don’t?  16:15 - 17:30 ILANGA 1

CRAIG SMITH JOSEPH SETH AIDOO Associate Director, Capital Markets Chief Executive Officer JLL South Africa DEVTRACO PLUS LTD Ghana YOFI GRANT VICTOR SODALA Director CEO - Pylos Zambia GRANT DUPUIS Ghana PYLOS Zambia GREG PEARSON Head of Development Craig Smith Yofi Grant Greg Pearson MARADELTA PROPERTY HOLDINGS Mauritius

Joseph Seth Aidoo Victor Sodala

6 THURSDAY • 20 OCTOBER DISCUSSIONS

HOTEL HOTSPOTS - Which cities offer the best value?  16:15 - 17:30 ILANGA 2

XANDER NIJNENS ALEXANDRE SMERTNIK SVP - Hotels & Hospitality Group VP Hospitality Investments JLL South Africa QUANTUM GLOBAL ALTERNATIVE INVESTMENTS VINCENT JOYNER Switzerland CEO JAMEEL VERJEE HOSPITALITY PROPERTY FUND South Africa Founder & Chief Executive TEJAS SHAH DIAR CAPITAL UAE Regional VP – Acquisitions & Development Xander Nijnens Vincent Joyner Tejas Shah Sub-Saharan Africa HYATT INTERNATIONAL SOUTH WEST ASIA LIMITED Kenya

Alexandre Smertnik Jameel Verjee

WEST AFRICA - Rebounding or worse to come?  16:15 - 17:30 NINA 2

MICHAEL O’MALLEY TONY KAY Director, Founding Member Shareholder RMB WESTPORT South Africa FALCON GROUP Sao Tome TUNJI ABDUL CYRIL TAY CEO General Manager DREAMSPACES Nigeria DEVTRACO PLUS LTD Ghana CHUKA AJEKWU General Manager Michael O’Malley Tunji Abdul Chuka Ajekwu DEVTRACO LIMITED Ghana

Tony Kay Cyril Tay

7 DISCUSSIONS 21 OCTOBER • FRIDAY

KEYNOTE PANEL  14:30 - 15:45 NINA 1

ALL DOOM & GLOOM OR WILL AFRICA’S ECONOMIES REBOUND?

The current outlook for Africa and foreign investment into the continent How will the commodity crisis affecting Africa unfold? Can Africa benefit from the experiences from other emerging nations like India?

OFFICES & MIXED USE - Appetite for risk but where to feast?  11:30 - 12:30 ILANGA 1

EWOUT HOLST HEIDI RIX National Director Chief Operational Officer CORPORATE SOLUTIONS,SUB-SAHARAN MARADELTA PROPERTY HOLDINGS Mauritius AFRICA JLL South Africa HANNAH SUBAYI NICHOLAS CORBISHLEY Senior Associate Head Africa Investments SOUTH SUEZ ADVISORY South Africa OLD MUTUAL PROPERTY South Africa CHARLES DALE RAMSDEN Ewout Holst Nicholas Corbishley Charles Dale Ramsden Director RMB WESTPORT South Africa

Heidi Rix Hannah Subayi

EAST AFRICA - Gaining momentum or status quo?  11:30 - 12:30 ILANGA 2

KEVIN TEEROOVENGADUM PETER MURAYA CEO Owner ATTAFRICA Mauritius SURAYA PROPERTY GROUP Kenya JONATHAN JACKSON TOBY SELMAN Chairman Managing Director LORDSHIP AFRICA Kenya AFRICA LOGISTICS PROPERTIES Kenya DAN KAGAGI Director Kevin Teeroovengadum Jonathan Jackson Dan Kagagi AFRICAN ALLIANCE Kenya

Peter Muraya Toby Selman

HOTEL RISK & REWARD - Fair allocaction between owner, operator and lender?  11:30 - 12:30 NINA 2

Alexandre Smertnik Jameel Verjee

8 FRIDAY • 21 OCTOBER DISCUSSIONS

FRANCOPHONE, CENTRAL & LUSOPHONE AFRICA - Hidden gems or too much risk?  13:30 - 14:30 ILANGA 1

GEORGE NICHOLLS ARTHUR MAMBOU Senior Partner Manufacturing, Agribusiness & Services CONTROL RISKS South Africa IFC SUB-SAHARAN AFRICA Kenya DEON BRUWER MAURO MARTINS CEO Head of Business Development FORUM PROPERTIES AFRICA South Africa FINICAPITAL Angola HERVÉ MAMA CHEICK SANANKOUA CEO Managing Partner George Nicholls Deon Bruwer Hervé Mama SICA ADVISORS Senegal HC CAPITAL Ivory Coast

Arthur Mambou Mauro Martins Cheick Sanankoua

INVESTMENT STRATEGY - Retreat or double down?  13:30 - 14:30 ILANGA 2

ANTHONY LEWIS Director, Sub-Saharan Capital Markets JLL South Africa ILARIA BENUCCI Investment Director, Financial Institutions CDC GROUP UK UMARU MUTALLAB Managing Director & Chief Executive Anthony Lewis Ilaria Benucci Umaru Mutallab BARUMARK INVESTMENT & DEVELOPMENT Nigeria

PAN-AFRICA CAPITAL MARKETS - Is liquidity improving?  15:00 - 16:00 ILANGA 1

ANTHONY LEWIS PETER LEVETT Director, Sub-Saharan Capital Markets Managing Director JLL South Africa OLD MUTUAL PROPERTY South Africa BRONWYN CORBETT WARREN VAN DER MERWE CEO COO MARADELTA PROPERTY HOLDINGS Mauritius VANTAGE CAPITAL South Africa CHRISTINE GLOVER Head Development Impact Funds Anthony Lewis Bronwyn Corbett Christine Glover OLD MUTUAL South Africa

Peter Levett Warren van der Merwe

AFFORDABLE HOUSING - All talk or positive steps?  15:00 - 16:00 ILANGA 2

BROTIN BANERJEE Managing Director & CEO TATA HOUSING DEVELOPMENT CO. LTD. India PAUL OBANUA Group Managing Director GREENFIELD ASSETS LIMITED Nigeria GODFREY TAPELA Senior Investment Officer Brotin Banerjee Paul Obanua Godfrey Tapela IFC Kenya

9 SENIOR SPONSOR

www.africa.jll.com

JLL is a leading professional services firm specialising in real estate, targetting 23 countries across Africa. The firm services investors, developers, local corporates and international corporations with a comprehensive range of real estate Craig Hean Anthony Lewis Ewout Holst services; valuations, capital markets, hotels, corporate solutions, pds, facilities management and research. This is coordinated through our Africa Desk, allowing clients to succeed in Africa.

Xander Nijnens Craig Smith Tom Mundy

Simon Ardonceau Rob Fleming

Craig Hean Ewout Holst Craig Smith Simon Ardonceau Managing Director National Director Associate Director Associate and Head,Strategic Sub-Saharan Africa Corporate Solutions,SSA Capital Markets, SSA Consulting, SSA T: +27115072200 T +27115072200 T +27115072200 T +27115072200 E: [email protected] E [email protected] E [email protected] E [email protected]

Anthony Lewis Xander Nijnens Tom Mundy Rob Fleming Director Senior Vice President National Director Associate Director and Head, PDS, Capital Markets, SSA Hotels and Hospitality Group, SSA Capital Markets Research,EMEA SSA T +27115072200 T +27115072200 T +27115072200 T +27115072200 E [email protected] E [email protected] E [email protected] E [email protected]

10 PROGRAMME SPONSOR

www.maradelta.com

Mara Delta is the largest pan-African focused dollar real estate fund listed on the Johannesburg Stock Exchange and Stock Exchange of Mauritius.

The Fund focuses exclusively on real estate assets on the continent (excluding South Africa). The Fund manages in excess of $450 million worth of assets with access to pipeline properties, including brownfield and Greenfield developments

Bronwyn Corbett Greg Pearson Heidi Rix as well as completed quality properties. These include a strong pipeline of quality assets in Tanzania, Uganda, Mozambique, Nigeria, Kenya, and others.

Bronwyn Corbett Greg Pearson Heidi Rix CEO Head of Development Chief Operational Officer T: +27 87 806 62723 T: +27 87 806 62723 T: +27 87 806 62723 E: [email protected] E: [email protected] E: [email protected]

CONTRIBUTOR SPONSOR

www.controlrisks.com

George Nicholls Senior Partner T: +27 010 100 3303 George Nicholls E: [email protected]

11 DISCUSSION (CO-)CHAIRS

TUNJI ABDUL CHUKA AJEKWU CEO General Manager DREAMSPACES DEVELOPMENT DEVTRACO LIMITED Nigeria Ghana

REAL ESTATE & PRIVATE EQUITY PROPERTY DEVELOPERS

A Nigerian domiciled real estate development company that Mid to high-end estate developers in Ghana. 65m2 (1 focuses on commercial/residential & recreational properties bedroom) -465m2 ( 5 bedroom) ranging $65,000 - $ 1million.

Tunji is the CEO of Dreamspaces Development Limited. Prior Chuka Ajekwu: Chuka is the General Manager of Devtraco to founding Dreamspaces Development, Mr. Abdul worked Limited. He is a Real Estate professional with a particular bias for as Managing Partner and Co-founder of Horizon Capital Development Management and Business Development with Investments; a real estate development company. He has over twelve years cognate experience and extensive knowledge amassed over a decade of experience within real estate and of the industry. He is an innovative and ambitious young man private equity investments industry during which he has led who brings lots of business innovations and energy to Devtraco transactions with combined values of over $500 million. Mr. Limited. Abdul has also worked as an investment banker in the Financial Institutions Group at JPMorgan in New York. Mr. Abdul has spent most of his career on Wall Street in Corporate Finance, Mergers & Acquisitions and Private Wealth Management for Merrill Lynch, Morgan Stanley, and Columbia Partners Investment Management.

BROTIN BANERJEE ILARIA BENUCCI Managing Director & CEO Investment Director, Financial Institutions TATA HOUSING DEVELOPMENT CO. LTD. CDC GROUP PLC India UK

DEVELOPER PRIVATE EQUITY CDC supports businesses throughout Africa & South Asia to TATA Housing is one of the fastest growing real estate create jobs & make a difference to people’s lives in some of the development companies in India world’s poorest places

Mr. Banerjee joined TATA Housing Development Company Ilaria joined CDC in 2013. Her background is in real estate Limited in 2006 as Deputy CEO. In 2008 he was appointed as and financial institutions investing across Europe and the CIS MD & CEO of the company. During his tenure, Mr. Banerjee countries. Ilaria joined CDC from AIG Global Real Estate where she has revolutionized the face of the RE sector by pioneering the was responsible for investments (acquisitions and developments) innovative concept of low-cost housing under the Shubh Griha in Emerging Europe, Russia and Turkey. Before AIG, she spent brand. Apart from this, TATA Housing also pioneered Sustainable over 10 years at the European Bank for Reconstruction and Integrated Green Township Development. Mr. Banerjee began his Development where she worked on equity investments in real career with TATA Group at TATA Chemicals. As Product Manager, estate and bank’s privatisations as well as project finance. . When the TATA Group acquired strategic stake in Barista Coffee Company Ltd., Mr. Banerjee was deputed to the company in the role of Vice President – Marketing, Strategy & Corporate Communications. He was subsequently promoted to the role of COO.

DEON BRUWER BRONWYN CORBETT CEO CEO FORUM PROPERTIES AFRICA MARADELTA PROPERTY HOLDINGS South Africa Mauritius

RE DEVELOPER PROPERTY INCOME FUND Mara Delta is the largest pan- African focused dollar real estate Forum Properties Africa is a British Virgin Isles company with fund listed on the Johannesburg Stock Exchange and Stock subsidiaries in South Africa and the DRC Exchange of Mauritius.

Deon is the CEO of Forum Properties Africa www. Bronwyn is the CEO of Mara Delta Property Holdings. She has forumpropertiesafrica.com. Deon is a Real Estate Specialist at significant corporate finance and deal making experience. She African Capital Investments www.investafrica.com Deon was played an instrumental role in the JSE listing of Delta Property the 2013 President of the South Africa Nigeria Chamber of Fund Limited in 2012 prior to taking up the leadership role at Commerce. Deon serves on a number of boards including Forum Mara Delta. During her tenure at Delta Limited, she spearheaded Property Africa and JHI DRC. Deon has been involved in large the diversification of the REIT’s funding sources into the debt scale real estate developments on the African continent and capital markets. Bronwyn is a founder member and served as worked for companies such as Novare Private Equity and Shoprite non-exec director on the board of Delta International Property Checkers Fund Limited where she played a significant role in the listing and conversion of the Fund to its current pan-African focus. She has grown the fund from $220 million to $463 million in under 2 years.

12 DISCUSSION (CO-)CHAIRS

NICHOLAS CORBISHLEY OLIVIER FRENDO Head Africa Investments Managing Director OLD MUTUAL PROPERTY GOLDMAN SACHS INTERNATIONAL South Africa South Africa

PROPERTY INVESTOR INVESTMENT BANKING A leading global investment banking, securities and Looking for regionally dominant retail, offices and logistics, investment management firm that provides a wide range of min size $10m, prime quality long term investments financial services

Head of Africa Investments for Old Mutual Property the asset Olivier is a managing director in the Investment Banking Division manager for Old Mutual Life Assurance South Africa’s direct in the Johannesburg office, covering clients in Sub-Saharan Africa. property investment portfolio of some $1.5bn. Operating across He joined Goldman Sachs in 2010 as an executive director and both East and West Africa, a Town planner by training, has over was named managing director in 2013. 35yrs experience in the property industry, split between the Prior to joining the firm, Olivier worked at J.P. Morgan on the corporate and private sectors. Specialises in Investment and Africa team in Johannesburg and in Leverage Finance in London. financial structuring( over 20 yrs banking experience), MRICS, Olivier earned an engineering degree in applied probabilities extensive experience in Africa and Europe from the Ecole des Mines de Paris in 2001.

CHRISTINE GLOVER YOFI GRANT Head Development Impact Funds Director OLD MUTUAL INVESTMENT GROUP GRANT DUPUIS INVESTMENT MANAGEMENT South Africa Ghana

INVESTMENT MANAGER ASSET MANAGEMENT & INVESTORS A real estate management and investment firm. The core A leading African investment manager with over R636 billion businesses are advisory services, investment management in assets under management and asset management

Christine is responsible for originating and managing the Yofi has more than 28 years of experience in banking, financing Development Impact Fund. Christine brings with her an and private sector business. His experience in banking understanding of low-income housing & micro-finance. She and finance includes treasury, financial restructuring and believes strongly in the ability to obtain both a social impact management, divestiture and privatization as well as equity, debt and a commercial return. Before joining Old Mutual Investment and project finance. Yofi till December 2012 was an Executive Group, Christine was a consultant for 5 years; she was MD of Director and Partner with the Databank Group,where he played CashBank, and its predecessor The Group Credit Company for several senior roles over 16 years. He was also responsible for 13 years. Before Christine was involved primarily in squatter the development and implementation of one of the largest upgrading strategies with the Urban Foundation for around 5 agriculture (SME) funds in Sub-Saharan Africa. Yofi holds several years, and ran a manufacturing business for 10 years. Christine Supervisory Board mandates (telecommunication, commodities, has an invaluable 24 years of work experience in low-income education). He has also played many policy advisory roles to housing and an additional 10 years’ experience in managing a government, particularly in private sector development. small business.

EWOUT HOLST JONATHAN JACKSON National Director Chairman JLL CORPORATE SOLUTIONS,SSA LORDSHIP AFRICA South Africa Kenya

RE ADVISORS DEVELOPERS Real estate advice to the Hotels & Hospitality sector from Lordship Africa has a current pipeline of excellent development advice, asset management, operator selection development opportunities includes residential, commercial, to financing & investment sales retail and hotel and leisure projects

Ewout Holst joined the Sub-Saharan Africa business in 2015 Jonathan Jackson is the Chairman of Lordship Africa and has over to lead the Corporate Solutions offering for the JLL Sub- 25 years of property development experience in Central & Eastern Saharan Africa platform, with a focus on corporate occupiers Europe (CCE) and Africa. Born and raised in Kenya, Jonathan to provide global portfolio strategies, transaction & strategic qualified in the United Kingdom, and in 1989 founded Lordship, a advisory, and real estate solutions. Ewout was based in the Prague-based property development and investment company. Netherlands for the past 6 years and was responsible for JLL’s In 2008, Jonathan returned “home” and founded Lordship Africa Transaction Management and Strategic Consulting business. His to replicate the hugely successful business he has run in Eastern responsibilities included growing the Corporate Business in the Europe since its inception. Jonathan has developed over 6 million Netherlands and within EMEA, and the management of global square feet of commercial, retail, hotel, and mixed use space and accounts, providing strategic and transactional services across all will soon break ground on two large commercial developments geographies. in Nairobi.

13 DISCUSSION (CO-)CHAIRS

VINCENT JOYNER DR. DAN KAGAGI CEO Director HOSPITALITY PROPERTY FUND AFRICAN ALLIANCE KENYA INVESTMENT BANK South Africa Kenya

REIT INVESTMENT BANK Offering investors an investment vehicle in the hospitality An investment banking group operating in Africa, providing sector through the ownership of some of the most iconic local and on-the-ground investment banking services across hotel properties in South Africa the African continent.

Vincent was appointed as Chief Executive Officer (“CEO”) and Since 1992, African Alliance has built a substantial infrastructure in a member of the Board of Hospitality Property Fund (a REIT terms of offices and professional teams throughout the continent listed on the Johannesburg Stock Exchange) in 2015. Vincent to meet the investment banking needs of our clients. These has a successful career in the hospitality industry spanning include national governments, municipalities, parastatals, pension over 28 years. He spent almost 20 years of his career within the funds and large to medium-sized public and private companies. Accor hospitality group, with the last six years of his tenure as The African Alliance group has a unique pioneering philosophy Accor Group CEO, Southern Africa. In 2009, Vincent formed an aimed at building markets while developing solutions for our African hospitality consulting and investment firm, Hospitality clients in a local context using our on-the-ground professionals. Investment Partners Africa. At the same time, he established a not-for-profit venture, the Zazida Institute of Entrepreneurship, an accredited Private Higher Education Institutiong.

TONY KAY PETER LEVETT Shareholder Managing Director FALCON GROUP OLD MUTUAL PROPERTY Sao Tome South Africa

DEVELOPER PROPERTY INVESTOR

Land and business development enterprise located in the Core income fund with investments into premium retail, office Republic of Sao Tome and Principe and logistic properties in South Africa and Sub-Saharan Africa

Tony Kay and I am a shareholder of the company the Falcon Peter has been in investments for 24 years containing SA and Group Ltd which is the legal lessor 30 + 30 years (with negotiated International experience. Of these 17 years is with Old Mutual extension) of the property Lagoa Azul Resort located on the in South Africa and 5 years with Goldman Sachs investment northwest coast of the island of Sao Tome. banking in London. During his time at Old Mutual, Peter has had The Island Nation of Sao Tome and Principe is situated in the Gulf the roles of Head of Old Mutual’s Corporate Finance division, of Guinea some 180 miles due west of Libreville Gabon. COO of the Old Mutual Investment Group and currently MD of Old Mutual Property since 2011. Peter has been a director of Old FALCON GROUP Mutual Property since 2000 and joined the property investment committee in 2004. Peter is responsible for the property investment & business strategy, with property assets of R18bn. He also participates in the investment strategy & is involved in selected investment committees with the Old Mutual Investment Group.

ANTHONY LEWIS HERVÉ MAMA Director, Sub-Saharan Capital Markets CEO JLL SUB-SAHARAN AFRICA SICA ADVISORS South Africa Senegal

RE ADVISORS RE ADVISORY/FUNDRAISING & INVESTMENT Real estate advice to the Hotels & Hospitality sector from Development, Advisory, Fundraising, Investing, Project development advice, asset management, operator selection management on a pre-fund basis to financing & investment sales

Anthony has had a career in real estate capital markets spanning Herve is CEO of SICA ADVISORS GROUP, a group who is focused 12 years, and was appointed in 2014 to establish the capital in RE and Agribusiness. SICA ADVISORS is an consulting arm who markets offering for the JLL Sub-Saharan Africa platform. Over the elaborating shopping malls, Hotels and Agribusiness Feasibility previous 2 years Anthony was seconded to Standard Chartered study and SICA CAPITAL, the arm of fundraising for projects. He Bank where he managed their occupational portfolio across the has recently created SICA PROPERTY to fund and manage real African continent. Prior, Anthony built up an extensive base of estate projects in Africa. He was Senior VP of Harvest Global technical and transactional experience in the Jones Lang LaSalle Investment, an Indian firm who has raised more than 20 billion Corporate Finance team in London. As an Associate Director dollars for Emerging markets where has been involved in some he advised and managed corporate disposals, JVs and capital leading real estate and mining transactions. He started his career restructurings in UK and Europe for a range of clients. as Internal Auditor of Banks. Herve is graduated from CESAG BUSINESS SCHOOL, Central Bank Training arm and are executive student at Warwick business school London.

14 DISCUSSION (CO-)CHAIRS

ARTHUR MAMBOU MAURO MARTINS Manufacturing, Agribusiness & Services Head of Business Development IFC SUB-SAHARAN AFRICA FINICAPITAL Kenya Angola

INVESTOR / LENDER DEVELOPER IFC supports private sector development in sub-Saharan Urban areas requalification and Africa with innovative investments and advisory services Real Estate Development programs.

Arthur Mambou has a corporate banking background having Mauro joined Finicapital, a major asset management company worked at Royal Bank of Canada and Standard Chartered Bank based in Angola, in 2011 as Head for Business Development. He prior to joining IFC as an Investment Officer in 2005. Since joining also joined Baia de Luanda Waterfront Requalification Project IFC, Arthur has closed transactions in the tourism, retail, property Team as Director for Business Development, where he leads the and manufacturing space in West and Eastern Africa. He also development of assets valued in 1.1 Billion dollars (real estate, briefly joined the Special Operations Department of IFC where retail, parking and events development). He is directly involved in he worked on restructuring distressed assets in Eastern Europe. Finicapitals major sole real estate development: Cidade Financeira Arthur is currently based in Nairobi (Kenya). He is a Cameroonian FINICAPITAL (a 100000 sqm business park) and Finicapitals major project national and fully bilingual (English, French). management engagement (Parcel 1 on Bay of Luanda). Formerly he was Manager at Deloitte (Portugal and Angola). He focused his activity in strategic management, startups and business planning and supply chain optimisation.

PETER MURAYA UMARU MUTALLAB Owner Managing Director & Chief Executive SURAYA PROPERTY GROUP LTD BARUMARK INVESTMENT & DEVELOPMENT CO.LTD Kenya Nigeria

PROPERTY DEVELOPER DEVELOPER & INVESTOR Barumark Investment and Development Company Ltd. is Suraya Property Group creates lifestyle projects that change one of Nigeria’s most formidable Property Development and the way people Live, Work and Play Investment companies

Suraya Property Group Limited was incorporated on 17th May Dr. Umaru Mutallab who recently commissioned 36 units of 2006, by Peter Kiarie Muraya and Sue Wacheke Muraya as the four bedroom terrace housing estate in Wuye, Federal Capital Directors. They had a vision of turning the company into a leading Territory, Abuja, said their goal was to reduce the prevailing 600, player in the property development market in Kenya. It is now 000 housing units’ deficit by developing residential & commercial one of the leading private property developers in Kenya. Suraya outfits in Abuja & Lagos. Barumark Investments are actively pioneered the ‘gated community development’ and the ‘joint involved in the RE investment & development business with a ventures’ with landowner’s concepts, which have become the focus on providing modern luxury affordable housing in Nigeria norm in Kenya. Suraya is currently developing various projects & completed substantial developments in Abuja and Lagos. Mr. within Nairobi, Machakos and Kajiado counties. The projects Mutallab, MD & CEO at Barumark Investment & Development currently under construction include 4,000 houses, a shopping disclosed that Barumark is involved in RE Development/Project mall, two 4-star hotels and 350,000 square feet of office parks. Management/Investment & Development as well as being an integrator of competitive, innovative, resourceful-based business solutions.

GEORGE NICHOLLS XANDER NIJNENS Senior Partner SVP - Hotels & Hospitality Group CONTROL RISKS SOUTHERN AFRICA JLL SUB-SAHARAN AFRICA South Africa South Africa

RISK CONSULTANTS RE ADVISORS Control Risks is a leading global business risk consultancy. Real estate advice to the Hotels & Hospitality sector from Operating in East Africa for over 30 years, we support clients development advice, asset management, operator selection across all industries to financing & investment sales

George leads a team of experienced professionals who are Xander focuses on delivering Strategic Advisory, Investment building and driving our business in the SADC region. His Sales, Financing and Asset Management services to local, regional hub consists of 15 member states, all with their own diverse and global clients across the region. Xander has over 11 years of economies and people. His team’s predominant focus is upon experience in hotel advisory, investment and operations in 20+ five key areas; Oil/Gas, Mining, Financial Services, Telecoms countries in Africa and the Indian Ocean region. His broad range & Infrastructure development in South Africa, Angola, The of hotel experience includes corporate finance, capital markets, Democratic Republic of the Congo & Mozambique. Prior asset management, strategy and development and he has wide to joining Control Risks, He ran his own risk management experience across all market segments from budget to luxury consultancy where He had the opportunity to work in East and hotels. Xander joined the team at JLL in January 2015, prior to West Africa as well as most Southern African countries. For 5 which he was managing director of a third party hotel operator years he held the pro bono position of Chairman of the British with various global brands under management in South Africa. Chamber of Business for Southern Africa.

15 DISCUSSION (CO-)CHAIRS

PAUL OBANUA MICHAEL O’MALLEY Group Managing Director Director, Founding member GREENFIELD ASSETS LIMITED RMB WESTPORT Nigeria South Africa

DEVELOPER DEVELOPER Greenfield is an infrastructure development company aimed at renewing sub-Saharan African cities, regenerating African Real Estate Development communities and empowering lives

Paul Obanua is Group Managing Director and Chief Executive In 2007 Michael formed Westport Property Holdings, a property Officer of Greenfield Assets Limited. Paul is passionate about development management company for retail and mixed-use using investments in public infrastructure as a tool for the rapid projects in Nigeria and other African countries. Prior to this, economic development of Africa. He believes that Infrastructural he co-founded and served as Managing Director of Profund development is the foundation required by Africa for sustainable Properties – a property development and facilities management economic growth and advancement and also a critical tool for company in Nigeria operating in the residential, retail, office and urban renewal and community regeneration. Paul qualified hotel sectors. Michael is a qualified architect and was for some as a Geophysicist from Edo State University (Now Ambrose Ali years Managing Director of Stauch Vorster Architects – one of University). He has completed international programs including a the largest architectural firms in Africa. Michael spent the past management (Private Equity- Venture Capital) program at Harvard 20 years working on retail and mixed-use project in 12 African Business School. He is an alumnus of Lagos Business School and a countries. member of the Nigerian – Chinese Business Council.

GREG PEARSON CHARLES DALE RAMSDEN Head of Development Director MARADELTA PROPERTY HOLDINGS RMB WESTPORT Mauritius South Africa

PROPERTY INCOME FUND PROPERTY DEVELOPMENT Mara Delta is the largest pan- African focused dollar real estate Real estate investment management and development firm, fund listed on the Johannesburg Stock Exchange and Stock focused on creating value-added Real Estate developments in Exchange of Mauritius. sub-Saharan Africa

Greg was formerly an executive with AECOM, a global provider Dale has been active in African real estate since 1995. From 2003 of Design, Development, Engineering and construction services to mid 2008, Dale worked for Actis as a Property Investment having had the responsibility of expanding the footprint for the Principal in West Africa and then as the Development Director for ‘Rest of Africa’ business from 2006 (outside of South Africa). He Actis Africa Real Estate Fund, Africa’s largest dedicated real estate gained his basic training and experience in London working fund. He has been instrumental in many of the largest property mostly on commercial, retail and residential mixed use projects. developments that have taken place in sub- Saharan Africa, most Greg’s expertise includes development management, cost notably the developments of Ghana and Nigeria’s first regional planning, procurement, time management and traditional shopping centres. Before joining Actis, Dale was active in Zambia project management of major engineering and building projects. and other Southern African countries. Amongst other positions His market sector knowledge includes: office, retail, Leisure, held, he was Managing Director of Lonrho Properties (Zambia, education and healthcare schemes and he has experience in over Zimbabwe, and Malawi), and founder and Managing Director of 40 African countries. Matrix Projects Zambia.

HEIDI RIX CHEICK SANANKOUA Chief Operational Officer Managing Partner MARADELTA PROPERTY HOLDINGS HC CAPITAL PROPERTIES Mauritius Ivory Coast

PROPERTY INCOME FUND INVESTOR Mara Delta is the largest pan- African focused dollar real estate HC Capital Properties is a real estate investment and fund listed on the Johannesburg Stock Exchange and Stock development company focused primarily on Cote d’Ivoire, Exchange of Mauritius. Nigeria and Ghana

Heidi Rix joined Mara Delta as Chief Operating Officer on 1 Cheick is a Managing Partner of HC Capital Properties (HCCP), a May 2016. Heidi brings 18 years of commercial and real estate real estate investment & development company, focused on West experience and holds BComm LLB degrees with further studies Africa, specifically Côte d’Ivoire, Nigeria & Ghana. Prior to HCCP, in the real estate industry including an Advanced Diploma Cheick was an investment professional at Helios Investment in Property Practice (cum laude). Heidi joins Mara Delta from Partners,where he was involved in deal sourcing, due diligence, the Broll Property Group where she was a Director of the structuring, and execution of private equity transactions as well as Group and held the position of Managing Director Investor monitoring of HIP portfolio companies across Sub-Saharan Africa. Services with overall responsibility and accountability for the Cheick started his career in investment banking in New York and Asset Management, Property Management and Retail Leasing London with Merrill Lynch, where he worked in the Mergers & businesses. Prior positions held by Heidi include Director of Acquisitions group. Cheick currently serves as non-Executive Atterbury Asset Managers (Pty) Ltd and General Manager Rand Chairman of the board of Directors of Conergies-Group. Merchant Bank Properties (Pty) Ltd.

16 DISCUSSION (CO-)CHAIRS

TOBY SELMAN JOSEPH SETH AIDOO Managing Director Chief Executive Officer AFRICA LOGISTICS PROPERTIES DEVTRACO PLUS LTD Kenya Ghana

INVESTOR & DEVELOPER DEVELOPERS A Nairobi-based commercial property investment & Devtraco Limited has been in existence in Ghana since 1993, development platform investing in modern A-grade as one of Ghana’s leading real estate companies. industrial/logistics warehouse assets across Africa

Principal real estate investor with a 17 year track record in Joseph Seth Aidoo is an Executive Director of Devtraco Limited. international commercial real estate investment, development He has over 10 years experience in managing one of the and asset management across Europe, Russia, Canada and Africa biggest real estate company in Ghana. Joseph is responsible for primarily in the warehousing logistics sector. He is currently Administration, Marketing and major Business Developments building Africa’s first dedicated industrial and logistics property of the company. A graduate of California Coast University with investment platform, Africa Logistics Properties (ALP), to create a Associate Degree in Marketing, Bachelors in Management portfolio of modern grade-A warehouse parks. ALP is supported and a Masters in Business Administration. He has a passion for by institutional investors. excellence in the growing real estate industry. Through his watch, Devtraco has been made a super brand on a plethora of Awards locally and internationally; the recent been Winner, International Star Award for Quality, Geneva.

TEJAS SHAH ALEXANDRE HUGUES SMERTNIK Regional Vice-President – Acquisitions & Development Sub-Saharan Vice President Hospitality Investments Africa QUANTUM GLOBAL ALTERNATIVE INVESTMENTS HYATT INTERNATIONAL SOUTH WEST ASIA LIMITED Switzerland Kenya

HOTEL OPERATOR INVESTOR A leading global hospitality company with a portfolio of 12 Long-term direct equity investor in hotel projects across premier brands and 667 properties in 54 countries as of June Sub-Saharan Africa and Real Estate investments in developed 30, 2016 markets

A Chartered Accountant by profession, Tejas is a thirteen-year VP Hospitality Investments, Quantum Global Alternative Hyatt veteran, currently based in Nairobi for over a year and Investments AG Alexandre is responsible for sourcing, execution focusing Hyatt’s expansion efforts across the Sub-Saharan African & oversight of investments at Quantum Global Alternative region. He began his career as an Accounts Executive in the Investments. Prior to joining QGAI in August 2015, Alexandre Shared Service Centre in Mumbai in 2002. In April 2004, he was worked for the Alternatives & Special Situations team of AXA selected as Operations Analyst based in the corporate office in Real Estate in London, focusing on hotel and other real estate Mumbai. He is part of the Hyatt’s Development team since 2007. acquisitions across Europe (c. €500M transacted), as well as Prior to being selected as Development Director for Africa, Tejas fund raising efforts. He started at AXA RE in 2009 working in served as Development Director in Gurgaon, India and handled the Opportunistic Fund Management team, investing in office varied markets in South Asia. and residential development projects in Paris & London (c. €2.5 Bn transacted). Before AXA RE, he gained experience at HVS International working on valuation and feasibility studies across EMEA

CRAIG SMITH VICTOR SODALA Associate Director, Capital Markets CEO - Pylos Zambia JLL SUB-SAHARAN AFRICA PYLOS GROUP South Africa Zambia

RE ADVISORS DEVELOPER Real estate advice to the Hotels & Hospitality sector from Commercial real estate development with focus on retail and development advice, asset management, operator selection office parks in Zambia to financing & investment sales

Craig is an Associate Director of JLL’s Capital Markets team in Victor is a graduate in economics from the London School Sub-Saharan Africa. Craig focuses on delivering the execution of Economics and a Chartered Financial Analyst. He started of Sub-Saharan Africa Capital Markets mandates for local, his career in the asset management industry in Zambia and regional and global clients across the region. Craig has over 7 subsequently moved to South Africa where he was an investment years of experience in the real estate industry. His broad range manager at one of the largest financial services company in of experience includes analysing the listed property sector in Africa. Before joining Pylos, Victor was Development Manager South Africa and offshore markets, managing listed investment Africa at the Eris Property Group where he was responsible products, and driving the acquisitions and disposal process for for expanding their development business into new African direct property portfolios. Craig joins the team at JLL in May 2015, countries. prior to which he was a property analyst and portfolio manager at STANLB Asset Management. Previous appointments include property analyst at Standard Bank.

17 DISCUSSION (CO-)CHAIRS

HANNAH SUBAYI GODFREY DANISA TAPELA Senior Associate Senior Investment Officer SOUTH SUEZ CAPITAL INTERNATIONAL FINANCE CORPORATION South Africa Kenya

AFRICAN FUND OF FUNDS INVESTOR Largest multilateral private sector investor in emerging South Suez is the first dedicated pan-African private equity markets. Portfolio: $55 billion, AAA rated, 129 offices fund-of-funds in Africa, managing close to $1bn in assets worldwide

Hannah Subayi is a Senior Associate, advising South Suez Capital Godfrey Tapela is a Senior Investment Officer at IFC based on their pan-African strategy. Prior to advising South Suez in Nairobi, Kenya. He is responsible for investments in the Capital, Ms Subayi was an Associate in the M&A advisory team at commercial property including affordable housing, retail Credit Suisse, with a focus on healthcare and TMT. Prior to that, and tourism sectors in Sub-Saharan Africa. Godfrey joined Ms Subayi spent 2 years in the Investment Banking division at IFC in 2001 and previously worked for ABSA Bank, Eskom as Nomura, predominantly covering equity capital markets. Miss a Projects Engineer and for DLV Consulting Engineers and Subayi is fluent in French and English and proficient in Lingala, Stewart Scott Consulting Engineers as a Consulting Engineer. the language of her home country the Democratic Republic of He holds a Master in Business Leadership from UNISA, a BSc Congo. She has a double masters degree from HEC Paris and from Electrical Engineering(Hons) from the University of Zimbabwe, a the University La Sorbonne Law School Graduate Diploma in Marketing from the Institute of Marketing Management and is a registered Professional Engineer with the Engineering Council of South Africa.

CYRIL TAY KEVIN TEEROOVENGADUM General Manager CEO DEVTRACO PLUS LTD ATTAFRICA Ghana Mauritius

PROPERTY DEVELOPER INVESTOR AttAfrica is a Mauritius headquartered property fund focused Infill development of residential, commercial and retail on acquiring existing A grade retail assets in Sub-Saharan properties in prime Accra Africa

Cyril Tay is the G.M. of Devtraco Plus limited, a leading infill Kevin has spent his career working in Africa over the last 16 years, real estate developer in Accra, Ghana. He has over 8 years of helping companies develop and grow their local businesses. After experience in the real estate industry. He worked with Bechtel gaining his BSc Economics, MBA and MSc in Finance from the power Corporation providing engineering and construction University of Leicester (England), he moved back to Mauritius and management services on various projects. He also worked at worked for Ernst and Young, Deloitte and KPMG, before moving Anka Funds, a Real Estate Private Equity firm, as an Acquisitions to the pan-African advisory and investment-banking boutique, Associate. Most recently, he was a Development Manager at Loita Capital Partners Group. In 2007, Kevin was joined the private Laurus Development Partners, in Accra, Ghana. Cyril holds a B.S. in equity house Actis Capital LLP as part of their Africa Real Estate Civil Engineering from Illinois Institute of Technology and an MBA team. His experience at Actis Capital LLP covered retail, office, from the University of North-Carolina Kenan-Flagler. mixed use, logistics / industrial and hospitality asset classes. Since August 2013, Kevin is the founder CEO of AttAfrica, the biggest real estate retail yielding fund.

WARREN VAN DER MERWE JAMEEL VERJEE COO Founder & Chief Executive VANTAGE CAPITAL DIAR CAPITAL South Africa UAE

INVESTOR INVESTOR / DEVELOPER / OPERATOR Vantage Mezzanine is the largest independent provider Investment company - developer - hotels – real estate for of mezzanine risk capital to medium-sized South African plots – Europe, Middle East, Africa - US $5-50m businesses

Warren is a Chartered Accountant and COO of the Vantage Jameel, a former lawyer, set up Diar Capital, an investment Capital Group. Vantage Capital is a South Africa-based firm company focused on creation of growth businesses with a focus that specializes in mezzanine debt, renewable energy debt, on the African marketplace from 2007-8 years. This led to the debt capital markets and corporate senior debt transactions creation of Rift Valley Properties (property development) and throughout Africa. Vantage Capital manages two mezzanine CityBlue Hotels (Africa’s fastest growing business hotel group debt funds, a renewable energy senior debt fund, a technology focused on the mid-market sector). In the next 12 months, four fund and has a debt capital markets advisory business. Vantage more companies are due to be launched; all focusing on under- has over $500m AUM. Warren served articles at the University of served sectors in the African marketplace. Separately, Diar Capital Witwatersrand and Arthur Andersen before starting his banking has also participated as a founding shareholder in a number of career with Standard Bank. He spent six years at Standard Bank investment companies in its regions of focus where he successfully concluded a number of corporate debt and leveraged finance transactions, before joining Vantage Capital in 2007.

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