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Impact of COVID-19 on capital raising in Nigeria: In partnership with PwC

Impact of COVID-19 on capital raising in Nigeria: In partnership with PwC

june, 2020

11jun12:00 pm1:00 pmImpact of COVID-19 on capital raising in Nigeria: In partnership with PwCWebinar

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Event Details

Between 2010 and Q1 2020, Nigerian issuers raised $1.5 bn through IPOs globally, 8.8% of the value raised by African issuers, and $3.0 bn through further offers, 4.1% of the value raised by African issuers. In the non-local currency debt markets, during the same period, $10.2 bn was raised by Nigerian issuers, 18.6% of the value raised by African issuers. In the local currency debt market, between 2014 and Q1 2020, N668 bn was raised domestically through bonds, and N1.6 trn in commercial papers. In the face of the COVID-19 pandemic, not only has the momentum in fundraising come to a halt globally, but Africa, and Nigeria particularly, is expected to suffer the most in the face of ratings downgrades and investors re-balancing their portfolios away from emerging markets.

Invest Africa and PwC invite you to our joint webinar examining the future of the primary capital markets as a source of capital for Nigerian corporate issuers in light of the COVID-19 pandemic. Our panel of experts will discuss the immediate impact on public fundraising activity in Nigeria, how investors and issuers are adjusting to the new market dynamics, and explore opportunities for Nigeria to learn and grow in the midst of the crisis.

Ijeoma has over 20 years’ experience in the global investment business. Her focus has been on private equity and other alternative asset classes, channeling much needed institutional investment into strong businesses poised for growth, particularly in Africa. She has spent her career across 4 continents advising institutional and private investors on private equity investment strategies, evaluation, selection and allocation.

She is currently the Managing Director / CEO of FBNQuest Funds, the alternative investments business of FBNQuest, part of the 125-year old FBN Holdings Group of businesses. She is also a member of FBNQuest’s Executive Leadership Committee and select company boards. Prior to joining FBNQuest, she ran her own alternative investments consultancy, OAI Alternative Investments and led Investor Coverage and Corporate Business Development activities across Africa for a diversified alternatives platform.

Previously, she spent 13 years at JPMorgan Chase & Co. including 11 years with the JPMorgan Asset Management Private Equity Group in both New York and London. There she led the group’s business development activities in EMEA performing broad functions across investment selection, portfolio management, investor relations and product development. She was a member of the group’s Investment Committee. Ijeoma holds a B.Sc. from the University of Lagos, a CSS from Harvard University and an MBA from INSEAD.

Chinua Azubike is the pioneer Managing Director/Chief Executive Officer of InfraCredit, prior to this, he was the project lead for the establishment of a Nigeria Infrastructure Credit Enhancement Facility, where he assisted GuarantCo and the Nigeria Sovereign Investment Authority to establish InfraCredit as its first employee. He holds an MSc. in Finance & Financial Law from University of London and studied law at the University of Lagos, Nigeria.

Chinua Azubike has garnered over 15 years’ experience in corporate/structured finance and debt capital market roles. Chinua has a strong and practical know-how of local capital markets with a firm interest in market development and has acted as a lead adviser in the establishment of key development finance institutions in Nigeria. He was the Managing Director of a corporate finance advisory firm, based in Lagos, Nigeria and prior to this worked in a top-tier domestic investment banking firm.

Chinua Azubike is currently the chairperson of the Regulation Consolidation Sub-Committee of FMDQ Debt Capital Market Development Project. Chinua is a protagonist of Harvard Business School’s Case Study on “Infrastructure in Nigeria: Unlocking Pension Fund Investments” published in February 2018 and is being taught on HBS’s MBA Program.

Ms. Olaniyan is the Head, Market Architecture Division, comprising five (5) Groups – Fixed Income & Currencies Markets, Equity Market, Derivatives Market, Market Regulation and Academy. She holds a Bachelor’s degree in Accounting from the University of Jos, Nigeria; and is a Certified Treasury Dealer.

As a Dealer and later a Research and Capacity Development Consultant, her over fourteen (14) years of work experience spans across Training, Consulting and Banking, within various organisations including IBFCAgusto Training Limited (now IBFCAlliance Limited), FDHL and Guaranty Trust Bank PLC. Jumoke developed and facilitated several financial markets training programs and authored the Financial Markets Diagnosis and Outlook Reports for the Central Bank Nigeria and the Securities and Exchange Commission.

Alice is a Director in PwC’s Capital Markets Services group based in Lagos, Nigeria. She has over 10 years of client service advisory experience across global capital markets while working with PwC in New York, London, Johannesburg, and now Lagos. Alice has been involved in several landmark transactions, including some of the largest global IPO, bond and M&A transactions. She also supports clients with capital markets policy and development initiatives.

Alice is one of the primary authors of PwC’s Annual Africa Capital Markets Watch series, which provides an analysis and trends of equity and debt capital markets activities on African exchanges and by African companies globally. Alice is a Certified Public Accountant in New York. She holds undergraduate degrees from the Northern Virginia Community College and George Mason University, and a graduate degree from the University of Virginia. She is currently pursuing a Global Executive MBA at INSEAD.

Time

(Thursday) 12:00 pm - 1:00 pm

Between 2010 and Q1 2020, Nigerian issuers raised $1.5 bn through IPOs globally, 8.8% of the value raised by African issuers, and $3.0 bn through further offers, 4.1% of the value raised by African issuers. In the non-local currency debt markets, during the same period, $10.2 bn was raised by Nigerian issuers, 18.6% of the value raised by African issuers. In the local currency debt market, between 2014 and Q1 2020, N668 bn was raised domestically through bonds, and N1.6 trn in commercial papers. In the face of the COVID-19 pandemic, not only has the momentum in fundraising come to a halt globally, but Africa, and Nigeria particularly, is expected to suffer the most in the face of ratings downgrades and investors re-balancing their portfolios away from emerging markets.

Invest Africa and PwC invite you to our joint webinar examining the future of the primary capital markets as a source of capital for Nigerian corporate issuers in light of the COVID-19 pandemic. Our panel of experts will discuss the immediate impact on public fundraising activity in Nigeria, how investors and issuers are adjusting to the new market dynamics, and explore opportunities for Nigeria to learn and grow in the midst of the crisis.

Ijeoma has over 20 years’ experience in the global investment business. Her focus has been on private equity and other alternative asset classes, channeling much needed institutional investment into strong businesses poised for growth, particularly in Africa. She has spent her career across 4 continents advising institutional and private investors on private equity investment strategies, evaluation, selection and allocation.

She is currently the Managing Director / CEO of FBNQuest Funds, the alternative investments business of FBNQuest, part of the 125-year old FBN Holdings Group of businesses. She is also a member of FBNQuest’s Executive Leadership Committee and select company boards. Prior to joining FBNQuest, she ran her own alternative investments consultancy, OAI Alternative Investments and led Investor Coverage and Corporate Business Development activities across Africa for a diversified alternatives platform.

Previously, she spent 13 years at JPMorgan Chase & Co. including 11 years with the JPMorgan Asset Management Private Equity Group in both New York and London. There she led the group’s business development activities in EMEA performing broad functions across investment selection, portfolio management, investor relations and product development. She was a member of the group’s Investment Committee. Ijeoma holds a B.Sc. from the University of Lagos, a CSS from Harvard University and an MBA from INSEAD.

Chinua Azubike is the pioneer Managing Director/Chief Executive Officer of InfraCredit, prior to this, he was the project lead for the establishment of a Nigeria Infrastructure Credit Enhancement Facility, where he assisted GuarantCo and the Nigeria Sovereign Investment Authority to establish InfraCredit as its first employee. He holds an MSc. in Finance & Financial Law from University of London and studied law at the University of Lagos, Nigeria.

Chinua Azubike has garnered over 15 years’ experience in corporate/structured finance and debt capital market roles. Chinua has a strong and practical know-how of local capital markets with a firm interest in market development and has acted as a lead adviser in the establishment of key development finance institutions in Nigeria. He was the Managing Director of a corporate finance advisory firm, based in Lagos, Nigeria and prior to this worked in a top-tier domestic investment banking firm.

Chinua Azubike is currently the chairperson of the Regulation Consolidation Sub-Committee of FMDQ Debt Capital Market Development Project. Chinua is a protagonist of Harvard Business School’s Case Study on “Infrastructure in Nigeria: Unlocking Pension Fund Investments” published in February 2018 and is being taught on HBS’s MBA Program.

Ms. Olaniyan is the Head, Market Architecture Division, comprising five (5) Groups – Fixed Income & Currencies Markets, Equity Market, Derivatives Market, Market Regulation and Academy. She holds a Bachelor’s degree in Accounting from the University of Jos, Nigeria; and is a Certified Treasury Dealer.

As a Dealer and later a Research and Capacity Development Consultant, her over fourteen (14) years of work experience spans across Training, Consulting and Banking, within various organisations including IBFCAgusto Training Limited (now IBFCAlliance Limited), FDHL and Guaranty Trust Bank PLC. Jumoke developed and facilitated several financial markets training programs and authored the Financial Markets Diagnosis and Outlook Reports for the Central Bank Nigeria and the Securities and Exchange Commission.

Alice is a Director in PwC’s Capital Markets Services group based in Lagos, Nigeria. She has over 10 years of client service advisory experience across global capital markets while working with PwC in New York, London, Johannesburg, and now Lagos. Alice has been involved in several landmark transactions, including some of the largest global IPO, bond and M&A transactions. She also supports clients with capital markets policy and development initiatives.

Alice is one of the primary authors of PwC’s Annual Africa Capital Markets Watch series, which provides an analysis and trends of equity and debt capital markets activities on African exchanges and by African companies globally. Alice is a Certified Public Accountant in New York. She holds undergraduate degrees from the Northern Virginia Community College and George Mason University, and a graduate degree from the University of Virginia. She is currently pursuing a Global Executive MBA at INSEAD.

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