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Legacy Reaches For The Sky With “The Leonardo” Mixed-Use Development

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Investors speak of that once-in-a-lifetime investment opportunity. The one that yields exceptional returns coupled with unparalleled security – in short the Holy Grail of investment. Right now, that’s the phrase being used to describe the building that is inching its way up the Sandton skyline. The Leonardo is the Legacy Group and Nedbank Ltd’s latest mixed-use development, and it’s not only breathing new life into the famous skyline, but generating enormous buzz among investors in the financial capital of Africa.

The Leonardo is nestled in the heart of the vibrant and rapidly expanding precinct of Sandton, and can be found at 75 Maude Street. It is within walking distance of the Gautrain and all major businesses, and is also adjacent to the Johannesburg Stock Exchange (JSE). From this prime location, which represents the best of a frankly unequalled South African lifestyle.

“The Leonardo epitomises the ideal of a mixed-use development – a means to live-work-play in the lap of luxury, with every creature comfort and convenience at your fingertips a simple lift ride away,” says Gijs Foden, director of sales. “For residents this means a secure, luxurious living space, full concierge service, a crèche, a rooftop garden restaurant, coffee shop, heated pool, gyms and manicured gardens, and possibly even a commute to work that involves taking the lift a few floors down. For businesses it means much of the above, plus premium office space, and  an in house business and conference centre.”

The Leondardo will comprise commercial, sectional title office space; 230 one-, two- three- and four-bedroom apartments; eight penthouses; and the pièce-de-la resistance, The Leonardo Suite – a 2,880 square metre, three-floor penthouse with a 360-degree view, whose asking price of R250-million will make it the most expensive sectional title property ever sold in South Africa.

“The apartment component of the building starts from the 16th floor up, to ensure stunning views for every owner. Demand is high, and as we begin selling the higher floors, I expect the capital values of the properties will skyrocket, as was our experience with The Michelangelo Towers and the DAVINCI. I have no doubt that investors will view the The Leonardo in the same light as these highly successful properties, namely a dollar safe investment that protects their rands in a world class development.”

The Leonardo will offer investors and owners all the creature comforts of a five-star hotel. With a hassle free rental-pool option, owners moreover maximise their investments through a new rental structure.

“The Leonardo has everything going for it; not least of which is its development at the hands of Legacy – one of the continent’s most experienced and highly regarded developers in the luxury lifestyle, office, apartment, property and hotels industries. There’s a very good reason investors are so hyped up about this development, it truly is one  you don’t want to miss out on. But really you can’t make a call from simply hearing about it and I appeal to potential investors to come and take a look for themselves,” concludes Foden.

Investors can acquire additional information from Gijs Foden on +27 76 860 0260 email: [email protected]; www.legacyliving.co.za.

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With “Room2Run,” AfDB Launches Securitisation Market For Multilateral Development Bank Sector

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➢ WITH “ROOM2RUN,” AfDB LAUNCHES SECURITIZATION MARKET FOR MULTILATERAL
DEVELOPMENT BANK SECTOR
➢ TRANSACTION IS IN DIRECT RESPONSE TO G20 ACTION PLAN FOR MDB BALANCE SHEET OPTIMIZATION
➢ AfDB COMMITS TO REINVEST FREED UP CAPITAL INTO NEW AFRICAN INFRASTRUCTURE
LENDING, MAKING ROOM2RUN ONE OF THE LARGEST IMPACT INVESTMENTS EVER
➢ TRANSACTION IS SUPPORTED BY NEW EUROPEAN UNION GUARANTEE TOOL (EUROPEAN FUND FOR SUSTAINABLE DEVELOPMENT)

OTTAWA, Canada, 18 September 2018 — The African Development Bank (AfDB), the European Commission, Mariner Investment Group, LLC (Mariner), Africa50, and Mizuho International plc today announce the pricing of Room2Run, a US $1 billion synthetic securitization corresponding to a portfolio of seasoned pan-African credit risk. Room2Run is the first-ever portfolio synthetic securitization between a Multi-Lateral Development Bank (MDB) and private sector investors, pioneering the use of securitization and credit risk transfer technology to a new and previously unexplored segment of the financial markets.

Structured as a synthetic securitization by Mizuho International, Room2Run transfers the mezzanine credit risk on a portfolio of approximately 50 loans from among the African Development Bank’s nonsovereign lending book, including power, transportation, financial sector, and manufacturing assets. The portfolio spans the African continent, with exposure to borrowers in North Africa, West Africa, Central Africa, East Africa, and Southern Africa. Mariner, the global alternative asset manager and a majority owned subsidiary of ORIX USA, is the lead investor in the transaction through its International Infrastructure Finance Company II fund (“IIFC II”). Africa50, the pan-African infrastructure investment platform, is investing alongside Mariner in the private sector tranche. Additional credit protection is being provided by the European Commission’s European Fund for Sustainable Development in the form of a senior mezzanine guarantee.

“Room2Run gives us fresh resources to invest in the projects Africans need most,” said Akinwumi Adesina, President of the African Development Bank Group. “Africa has the most promise, the greatest natural resources, and the world’s youngest population. But we also have the world’s most persistent infrastructure deficits. The African Development Bank has the strategy to address these infrastructure finance gaps—and Room2Run gives us the capacity to make it happen.”

Structured as an impact investment, Room2Run is designed to enable the African Development Bank to increase lending in support of its mission to spur sustainable economic development and social progress. In connection with Room2Run, AfDB has committed to redeploy the freed-up capital into renewable energy projects in Sub-Saharan Africa, including projects in low income and fragile countries.

“On the Impact scale, Room2Run is off the charts,” said Dr. Andrew Hohns, Lead Portfolio Manager and head of the Mariner Infrastructure Investment Management team. “Room2Run answers the call of the G20 for private sector participants to step in and facilitate development finance, providing a template for attracting significant private sector capital into urgently needed projects in developing economies.”

Raza Hasnani, Head of Infrastructure Investment at Africa50 commented, “Room2Run provides an innovative and commercially viable solution to the African Development Bank’s risk management and lending objectives, while paving the way for commercial investors to support and benefit from the growth of infrastructure on the continent. Africa50 is very pleased to participate in this landmark transaction, which is in line with our mandate to drive increased investment in infrastructure in Africa, and to create pathways for long-term institutional capital to flow into this space.”

Room2Run enjoys the support and participation of the European Commission with an investment from the European Fund for Sustainable Development, in the form of a senior mezzanine guarantee. “Only a few days after announcing our renewed Alliance with Africa for sustainable investments and jobs, I am very happy to announce that we are, together with the African Development Bank, launching Room2Run,” commented Neven Mimica, the European Commissioner for International Cooperation and Development. “This initiative is a perfect example of what we are doing to support investments in African low income and fragile countries through the External Investment Plan. Through Room2Run we provide
an additional protection to investments in the field of renewable energy. Through our Guarantee, investments under Room2Run will translate into extending supply to many people currently without electricity whilst creating much-needed new jobs.”

Room2Run also directly responds to calls by the G20 that MDBs use their existing resources to full capacity, as articulated in the 2015 G20 MDB Action Plan to Optimize Balance Sheets, as well as calls for greater MDB efforts to crowd-in private investment. The G20 has called on MDBs to share risk in their non-sovereign operations with private investors, including through structured finance, mezzanine financing, credit guarantee programs, and hedging structures.

The Government of Canada has been a global leader in advocating for MDBs to use their existing resources more efficiently and to mobilize private capital for global development. The goal of the G20 MDB Action Plan to Optimize Balance Sheets is to catalyze significant new development financing from the MDBs throughout the real economy in key development regions. “Attracting more private capital into global development efforts is critical to building economies that work for more and more people around the world,” said Bill Morneau, Canada’s Minister of Finance, “that’s why Canada and our G20 partners have been calling on multilateral development banks to use their existing resources as efficiently as possible, and to look for new ways to attract more private capital. We are pleased to see the African Development Bank come forward with a transaction that directly responds to both of these objectives. Room2Run is an innovative solution to a long-standing challenge.”

Juan Carlos Martorell, Co-Head of Structured Solutions at Mizuho International, adds, “Compared to other synthetic securitizations, a major achievement of Room2Run has been to ensure that ratings agencies, and in particular S&P, reflect the merits of the risk transfer into their rating assessments for multilateral development banks. AfDB’s leadership through this transaction has now set the stage for broader adoption of the instrument throughout the MDB community.”

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Reaching Beyond The Horizon: A focus on Equatorial Guinea

On 12 October 2018, Equatorial Guinea celebrates its Golden Jubilee since independence; this will provide the nation with the occasion to catch its breath and look back at the incredible milestones achieved during its rapid journey towards modernisation and in becoming a reference point for Africa.

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The following report is published in association with Penresa

“We are focused on forming our citizens so they can activate their strengths in any part of the world. Having public servants in international organisations and competing with other countries, that is the wealth of a nation. We have to go beyond borders and show others the abilities that we have.” President Teodoro Obiang Nguema Mbasogo

Download the full report for free. 

On 12 October 2018, Equatorial Guinea celebrates its Golden Jubilee since independence; this will provide the nation with the occasion to catch its breath and look back at the incredible milestones achieved during its rapid journey towards modernisation and in becoming a reference point for Africa. Nestled into the western corner of the continent, with a rich bio-diverse tropical mainland and several important fertile volcanic islands, Equatorial Guinea’s economic development picked up speed upon the discovery of oil in 1995. However, it is the peace and political stability that has since ensured that has really distinguished the country. Visionary and long-term President Teodoro Obiang Nguema Mbasogo claims: “As president, I have seriously defended peace, Equatoguineans live harmoniously. In Equatorial Guinea there is no ethnic crisis or discrimination. I think that peace will allow the nation to have an inheritance, a fortune that can secure a promising future for subsequent generations; that is my dream.” It is upon the strength of this vision that the country travels safely forward towards self-sufficiency and economic sustainability.

LNG Megahub

Equatorial Guinea is the richest country per capita income on the African continent, and third largest oil exporter. Crude oil and LNG exports account for 80% of the government’s revenues and 95% of export income. Recently Minister of Mines and Hydrocarbons, Hon. Gabriel Mbaga Obiang Lima, announced government plans to construct a natural gas megahub operating from Punta Europa LNG Terminal on Bioko Island by 2020. The project involves interlinking production, processing and tying-in facilities on- and off shore with the collaboration of local oil and gas companies in the area, and will secure the nation’s role as significant player in global LNG exports. “Mother Nature has provided us with the fortune of having found oil, but what has caused great change and transformation in Equatorial Guinea is not oil but the high political will within the senior management of the state,” declares Prime Minister Francisco Pascual Obama Asue.

Horizonte 2020

The national economic strategy Horizonte 2020 has been responsible for transforming the nation while improving productivity and accelerating economic growth. The plan is divided into two phases; the first phase consisted of building up excellent infrastructure models such as seaports, airports, the new administrative capital Oyala, roadways, buildings while ensuring that everyone is on the electrical grid. The second phase, currently underway, focuses on diversifying the economy by targeting sectors such as fisheries, agriculture, tourism and finance, as well as reinforcing human capital and advancing technological progress.

Equatorial Guinea also continues to successfully work hard at establishing a trustworthy and solid international presence. President Obiang Nguema Mbasogo states: “The new government of Equatorial Guinea occupies relevant positions as a member of the OPEC, non-permanent member of the Security Council of the United Nations and member of the Executive Council of UNESCO. We also collaborate with a number of countries.” The nation will be celebrating its Golden Jubilee in triumph, having drastically improved quality of life for Equatoguineans and set it up for another fifty years exhaustive with possibilities. “For some time now I have observed a small star from the terrace of my house,” relates Minister of Finance, Economy and Planning, Hon. Lucas Abaga Nchama. “Every day I get the feeling that it is closer to me and it shines. Equatorial Guinea is like that star and will be the star that shines in the Gulf of Central Africa because we are laying down the foundations for true growth and development.”

 

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Africa’s Top 30 Tech Start-Ups Opens for Entries

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Accenture is on the hunt to find Africa’s top tech start-up superstars – the digital pioneers solving critical challenges with technology across the continent. It’s a search for Africa’s big thinkers and big doers – visionaries who fearlessly push the boundaries of progress to shift African innovation to the next level.

Around the world, diverse players are coming together – forming new ecosystems to solve social and business problems. Africa is no exception. Some of the most pivotal parts within these ecosystems are the disruptive tech solution providers – those creating new ways of solving problems, supplying innovative products and offering faster development times and cost-effective delivery.

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