Dear SAVCA Members and Friends,

Investing in Women | SAVCA AGM | Bookings open for 2015 SAVCA Industry Conference

SAVCA and Norton Rose Fulbright had the privilege of hosting Polo Leteka, the co-founder of Identity Partners and CEO of IDF Managers, as the guest speaker at the Women in Private Equity chapter. In this newsletter Leteka, a judge on South African Dragon’s Den, describes her journey as a salaried employee to a co-founder of a women-owned investment company with a mandate of investing primarily in women-owned SME businesses. We hope you enjoy reading an extract from her speech. Photos from the event can be viewed here.

IDF Managers was founded at a time when changes in BBBEE legislation elevated women to a more central position in BEE ownership transactions. With this in mind it is interesting to reflect on what could happen to our investment environment when our regulatory framework shifts once again. From April 2015, 40% of a company’s BBE scorecard will depend on enterprise development, which should mean the capital available for investment in black-owned SME businesses could be much larger.

We look forward to lively discussions at the Simodisa’s Start up South Africa conference to be held in Cape Town on 10 October 2014. SAVCA is proud to be a supporting organisation at this conference, which aims to further develop South Africa’s start-up ecosystem. We look forward to interesting discussions.

SAVCA full members are reminded about the SAVCA Annual General Meeting to be held on the afternoon of 22 October 2014 at Webber Wentzel’s offices in Illovo. Thank you also to full members who nominated candidates for the two seats available on our board. Let us know if you’ll be attending.

The 2015 SAVCA Private Equity Conference website is live. Please visit www.savca2015.co.za to read more about the conference and to secure your early-bird discount. Sponsorship opportunities are still available; do contact us to find out more.

Please keep us updated with your news and visit the SAVCA website to find new research, industry updates and upcoming events.

Regards

Erika van der Merwe
CEO: SAVCA

Research

Industry perspectives on Private Equity in Southern Africa: 2014

There is a notable tone of optimism in the Southern African private equity industry. This week we bring you a video titled Private Equity in Southern Africa 2014 which draws together perspectives on the prospects for private equity from a range of seasoned South African private equity practitioners. Enjoy!

SAVCA Events

LP Breakfast (Institutional Investors, Fund of Funds and Regulators only)

Date:        21 October 2014
Time:       8:00am for an 8:30am start. Event to end by 10:00am.
Venue:     The Saxon Hotel, 36 Saxon Road, Sandhurst, Johannesburg
RSVP:      Booking is essential: The SAVCA Office on events@savca.co.za or +27-11-2680041

Click here for more information

SAVCA AGM (Members only)

Date:        22 October 2014
Time:       5:00pm-7:00pm
Venue:     Webber Wentzel, 10 Fricker Road, Illovo, Johannesburg
RSVP:      Booking is essential: The SAVCA Office on events@savca.co.za or +27-11-2680041

Click here for more information

SAVCA Master-Classes in Competition Regulation: Developments in South African competition legislation and regulation and their implications for private equity

The Southern African Venture Capital and Private Equity Association (SAVCA), together with Webber Wentzel, are hosting two half-day master-classes that provide insight into recent trends in competition regulation in South Africa, with a focus on the economic and legal principles behind regulatory action. Emphasis will be placed on the implications for merger-and-acquisition activity and private equity transactions.

Speakers:

• Trudi Makhaya, independent strategist and economist, and former deputy commissioner of the South African Competition Commission
• Robert Wilson, partner at Webber Wentzel

See brochure for the programme for the day: SAVCA Competition Matters Master Class Cape Town Invitation

Pricing schedule:
Delegates attending both sessions
Members R 3 500 (plus VAT)
Non-members R 4 000 (plus VAT)

Delegates attending single session
Members R 2 000 (plus VAT)
Non-members R2 500 (plus VAT)

SAVCA Master-Classes in Competition Regulation: Developments in South African competition legislation and regulation and their implications for private equity (CAPE TOWN)

Date:        31 October 2014
Time:        All day
Venue:     Webber Wentzel, 15th Floor, Convention Tower, Heerengracht Street, Foreshore, Cape Town, 8001
Cost:        Delegates attending both sessions: SAVCA members pay R3 500; non-members pay R4 000. Delegates attending single session: SAVCA members pay R2000; non-members pay R2500
RSVP:      Booking is essential: The SAVCA Office on events@savca.co.za or +27-11-2680041

Click here for further information

SAVCA Annual Conference: LP Masterclass

Date:       12 February 2015
Time:      12:00pm-5:00pm
Venue:    Spier Stellenbosch
RSVP:     The conference organiser, Karin Diederichs on karin@soafrica.com or +27(0)214210345

Click here for further information

SAVCA Annual Conference: Members Reception

Date:        12 February 2015
Time:       5:00pm-7.30pm
Venue:     Spier Stellenbosch
RSVP:      The conference organiser, Karin Diederichs on karin@soafrica.com or +27(0)214210345

Click here for further information

 SAVCA Annual Conference

Date:       13 February 2015
Time:       All day conference
Venue:     Spier Stellenbosch
RSVP:     Booking is essential: The conference organiser, Karin Diederichs on karin@soafrica.com or Tel: +27(0)21 421 0345/Cell: +27 (0)83 270 9219

Click here for further information

Keep up to date with all our events and courses by regularly visiting the SAVCA online calendar.

Industry Events

SiMODiSA: Start up South Africa
Date: 10 October 2014
Venue: Cape Town International Convention Centre, Cape Town

Click here for further information and to book your ticket.
EMPEA Private Equity in Emerging Markets 2014 | Tapping Global Growth and Driving Returns
Date:        14 October 2014
Venue:      InterContinental Park Lane, London
Leveraging the expertise of the Financial Times’s global markets coverage and EMPEA’s insight into long-term, growth capital investments, Private Equity in Emerging Markets is returning to London this October to explore the latest developments in emerging markets private equity.
Click here for further information

EMPEA Private Equity in Africa 2014 | Achieving Africa’s Economic Potential
Date:        15 October 2014
Venue:      InterContinental Park Lane, London
The Financial Times and EMPEA will once again convene the African private equity industry in London for the sixth annual summit
Click here for further information

Women’s Private Equity Network (WPEN) Summit 2014

Date: 12 November 2014
Venue: London

The WPEN Summit 2014 presents a unique opportunity for senior level and next generation women to cut across regions, organisations and ‘old guard’ networks in order to develop new relationships and do more business, make valuable business connections, promote their firms and enhance their careers. Over 100 participants are already registered for the event and comprise professional women from the major investment firms, law firms and investment banks as well as company directors and high profile entrepreneurs. SAVCA female members can benefit from an exclusive 15% off the cost of delegate tickets. Please quote VIP code: WPEN2014SAVCA Register your place here

Africa Inbound 2014

Mergermarket will be hosting its annual Africa Inbound forum, once again taking place in London. This year’s event will feature senior management figures from major international corporates who will share their experiences of conducting M&A in Africa. Expert speakers will also review the African deal market and provide in-depth insight in to the future investment pipeline for 2015.
Date:         25 November 2014
Venue:      The Waldorf Hilton, London
Click here for a full line-up of speakers or to download the agenda                                                               
Register your place here

SuperReturn Africa 2014
Hear from 130+ outstanding speakers in Cape Town this year (the biggest line-up ever) including international LPs, DFIs, local LPs and industry veterans with representatives from: GEPF, PartnerRe Principal Finance, Cook Children’s Healthcare System, Standard Bank , State General Reserve Fund Oman, Goldman Sachs, Old Mutual Investment Group, The Carlyle Group, The Wellcome Trust, DEG ,CDC Group, Quilvest Group, Venture Capital Trust Fund, IFC,  Finnfund, Swedfund, Commonfun, Obviam, Hamilton Lane, Kuramo Capital and many more.

Dates:      2 December – 4 December 2014
Venue:     The Westin, Cape Town
• Join 500+ private equity professionals
• Meet 150+ local and international LPs
• Hear from 130+ industry leading speakers
• 30+ countries represented
• 2 pre-conference summits – The West Africa Summit OR The Fundraising Summit
SAVCA members can benefit from an exclusive 20% discount. Please quote VIP code: FKR2356SAVCA2 when registering. Click here for more information or to register online, please

Asian Financial Forum | Asia: Sustainable Development in a World of Change

Date:        19-20 January 2015
Venue:      Hong Kong

The Asian Financial Forum (AFF) brings together some of the most influential members of the global financial and business communities each January to discuss developments and trends in the dynamic markets of Asia.

Deal Flow Matchmaking session (20 January 2015)

The forum features a unique deal-sourcing and matchmaking session jointly organized by the Hong Kong Venture Capital and Private Equity Association and the HKTDC. One-on-one meetings are arranged between sources of funds and sources of deals, enabling participants to meet with potential business partners from around the world.

Click here for further information

SAVCA in the news

Private equity funding to bridge Africa’s infrastructure deficit | SAVCA Press Release    
Private equity investors, with their appetite for risk, extended investment horizons and ability to mobilise a variety of other forms of capital to ensure the viability of multi-faceted deals, are ideal partners to help fund the infrastructure gap in Africa.

SAVCA members in the news

Phatisa’s African agriculture fund invests in the Meridian group I Phatisa Press Release
The African Agriculture Fund (AAF), managed by Phatisa, has invested in the Meridian Group, a US$ 250 million business with operations in Mozambique, Malawi, Zimbabwe, Zambia and Mauritius. Meridian’s main focus is the manufacture and distribution of specialised fertiliser blends.

Capitalworks & Morgan Stanley’s RFG raises $102m I Private Equity Africa (Subscribers only)
Capitalworks and Morgan Stanley’s South Africa-based food production portfolio company Rhodes Food Group has raised approximately $102 million (R1.1 billion) in a private placement.

OPIC commits $100 million to ECP Africa Fund IV I PEhub
The Overseas Private Investment Corporation,  the US Government’s Development Finance Institution, has approved a $100 million commitment to Emerging Capital Partners’ Africa Fund IV at its quarterly meeting. The fund is targeting $750 million to provide expansion capital to high-growth companies throughout Africa.

Cameroonian utility AES Sonel, renamed Eneo after going to Actis I Business in Cameroon
Electricity company, AES Sonel, was officially renamed as Eneo Cameroun SA. The name change follows the move by Actis to take over the assets of the American company, AES, in Cameroon’s electricity sector by the purchase of AES Sonel.

IDC confirms $4.5bn, two-phase Limpopo steel mill investment I Mining Weekly
The detailed feasibility study into a $4.5-billion, two-phase steel project planned for development by the Hebei Iron and Steel Group, of China, and South Africa’s IDC should be completed in the first quarter of 2015, IDC CEO Geoffrey Qhena reported on last Thursday.

Internet will drive spend – PwC I Gadge
A recent PwC report has revealed that the increase in internet access is expected to generate more consumer spend across the African continent over the next five years. This will generate will generate more consumer spend than any other media product or service in the next five years in the South African entertainment and media industry

Industry news and insights

Private equity fees are fairest of any asset class despite SEC scrutiny | COOConnect
Industry experts believe that that is unlikely the Securities and Exchange Commission will find any transgressions with the fee structure.

Johannesburg rising amid inequality as gateway to Africa I Moneyweb
Many believe that Johannesburg is akin to what London is to Europe. This view makes metropolis of more than 10 million a financial and business centre for Africa a springboard for international companies while about three-quarters of South African companies are based in the city.

As dealflow hits 2007 highs, here are some hot spots I Wall Street Journal
The year 2014 has a good one for investment bankers. Preliminary Dealogic numbers for the third quarter hit inboxes this week and showed a number of records – many set in the heyday of 2007 – have been toppled. Deal value in the global equity capital markets, at $693.3 billion year to date, is the highest on record; as are fees at $15.9 billion.

Private Equity Discovers Deals in the Middle East I Bloomberg
Private equity acquisitions in the Middle East and Africa have jumped to $6.6 billion this year from $141 million in the same period in 2013, according to data compiled by Bloomberg.

Mauritius: Private Equity Conference opens in Mauritius I African Manager
Speaking at the opening of the fourth Private Equity Mauritius Conference 2014, on the theme “Capitalising Africa’s Growth”, Mauritius International Trade Minister Arvin Boolell said that Africa is the current frontier of growth and represents great potential for private equity firms across the world.

Kenyan firms bask in golden age of private equity funds in Africa I The Daily Standard
Analysts define East Africa’s private equity industry as “small but growing”, with Kenya – the largest economy in the block – taking the lead in the number and value of deals signed.

African CEOs are in the mood for partnerships I How we made it in Africa
African companies are looking for partners, with nearly 50% of them planning to pursue a joint venture or a new strategic alliance in the coming year. More than 25% of CEOs are anticipating an acquisition, primarily in their home market or in the rest of continent. Top of Form

Bottom of FormOpportunities for business in Francophone Africa I PWC Africa Upfront Blog
Francophone Africa has become a territory full of opportunities for business. Countries of the Maghreb have become a critical hub for both European and African companies.  North Africa benefits from a favourable geographic location, close to European markets, but also from a history of dynamic commercial development compared to many other countries across the continent.

Job Opportunities

Contact info@savca.co.za to advertise an opening at your firm on our online jobs portal.

Advertising with SAVCA

SAVCA welcomes the opportunity to work with members and stakeholders in promoting the Southern African private equity and venture capital industry. The organisation constantly seeks creative ways of doing so, including through the marketing member firms’ activities. Should you wish to find out more about various marketing and advertising opportunities with SAVCA, contact the office on info@savca.co.za. Please also drop us a line if you would like to advertise an opening at your firm on our online jobs portal.