Day One - Wednesday 7th November 2007

08:30 Registration and Morning Refreshments

09:30 Chairman’s Opening Remarks

Keith Mullin, Editor-in-Chief, IFR

09:40 Global Capital Spotlight Shines on Africa

• What is the broad economic outlook for Africa?
• Africa is moving into the financial markets spotlight and is set to become a major new destination for international capital. What are the drivers of this interest?
• What are the projected capital requirements of key economies and how will they be financed?
• What progress has been made in standards of governance?
• Are regulatory and supervisory regimes improving in parallel with international interest?
• What is the impact of China’s engagement with Africa? Is China usurping South Africa’s role?
• Is Africa a fair-weather destination? What happens if the global economy goes into reverse?

Alex von Sponeck, Head of Sub-Saharan Africa, Global Markets, Merrill Lynch
Abbai Belai, Managing Director, Head of Financial Solutions Group and Origination, Africa, Renaissance Capital 

10:20 Panel Session - Debt and the international community

• Does the legacy of default, restructuring and forgiveness introduce elements of moral hazard into providing new debt to Africa today?
• Explaining the debt relief process to new investors
• Are the conditionalities established as a quid pro quo to debt forgiveness defining economic policy options and room for manoeuvre?
• How is the past affecting governments’ attitudes to raising new debt in the capital markets?
• As Africa eases its way back into the private capital markets, what role will the multilaterals play?
• Do the IMF, World Bank et al have a vested interest in having African countries remain as captive clients?
• Does concessional finance have a future in the Continent’s leading economies?

Charles Blitzer, Assistant Director, Monetary and Capital Markets Department, IMF 
Stuart Culverhouse, Chief Economist, Exotix 
Trevor de Kock, Division Manager, Treasury Department, African Development Bank
Eric Lalo, Lazard Frères

11:00 Coffee

11:20 Opportunities in International Debt Capital Markets

• Deal flow from Africa has been light so far, but the pipeline is building.
• What are the relevant parameters for pricing African debt?
• Where are the sovereigns? Which ones are likely to tap the market?
• Will the private sector make the running?
• What are the prospects for corporate issuance?

Florian Von Hartig, Head of Global Debt Capital Markets, Standard Bank
Rupesh Hindocha, Director and Head of Sub Saharan Fixed Income Coverage, Credit Suisse 
Ade Adebajo, Head, Debt Capital Markets – Africa, Standard Chartered Bank
Inosi Nyatta, Senior Associate, Sullivan & Cromwell LLP 

12:00 Panel Session - Contrasting Debt investment styles

• How are international debt investors playing Africa?
• Have the value investors who got in early extracted most of the juice?
• Contrasting the hedge fund and real-money approach
• Developing a portfolio approach to Africa
• Focus on due diligence
• Is there sufficient transparency?

Alex Garrard, Managing Director, UBS
Daniel Berman, Executive Director, DCM and Derivatives for sub-Saharan Africa, JP Morgan
Orli Arav, Senior Investment Advisor, Frontier Markets Funds Managers

12:40 Lunch

14:00 Infrastructure and Bank Finance

• Will Africa get a look-in amid the global infrastructure boom? What are the estimates as to capital requirements to fund infrastructure?
• Where will the money come from?
• Prospects for non-traditional forms of project finance
• What is the attitude of international banks towards lending to Africa?
• Do international bank lending and trade finance provide more flexible or cost-effective options than the bond market?
• Secured vs. unsecured lending options
• Domestic vs. international banks

Nick Rouse, Managing Director, Frontier Markets Fund Managers

14:20 Panel Session - The Promise of Domestic Debt Markets

• To what extent do local capital markets offer opportunities to generate returns over international markets?
• Is high risk-tolerance a sine qua non?
• Structuring domestic currency products for international investors
• Opportunities in securitisation
• Are local institutional investment pools likely to be restricted to investing in government debt for the time being?
• Are domestic investors focusing solely on in-country situations, or are we seeing the beginnings of intra-regional flows?

Guido Haller, Head of Global Markets Africa, Standard Bank 
Chris Vermont, Head, Debt Capital Markets, GuarantCo
Michael Ashong, Managing Director, Ecobank Group 
Marc Fidelman, Executive Director, Fixed Income, Currency and Commodities, Goldman Sachs International 

15:00 Panel Session - Borrower panel

• African borrowers in international debt, equity and bank loan markets showcase their achievements and share their experiences.

Alex von Sponeck, Head of Sub-Saharan Africa, Global Markets, Merrill Lynch
Matthias Chika Mordi, Group Managing Director and Chief Executive, UBA Capital & Member Board of Directors, United Bank For Africa PLC 

15:40 Coffee

16:10 Equity Capital Markets

• The region’s largest equity markets are relatively well developed. Can they be a viable source of funding for African corporates?
• As international debt markets open up to Africa borrowers, will be same process be repeated in international ECM?

Henry K. Hall, Managing Director, Emerging Market Equities – EMEA, Merrill Lynch
Kayode Akinkugbe, Director, Sub-Saharan Africa Coverage, Global Markets/Banking, Deutsche Bank AG

16:50 Panel Session - Opportunities in equity markets

• How are international institutional investors playing African stock markets?
• Focus on private equity activity in the region
• How successful have the various new Africa funds been?
• Are transparency and governance an issue?

Christopher Hartland-Peel, African Equity Research, Exotix 
Sarah Mathies, Investment Principal, Actis
Tobias Webb, Head of Sales, Coronation Fund Managers

17:30 Chairman’s Closing Remarks, Questions and Answers

17:40 Networking Drinks Reception

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20:00 End of Day One

Day Two - Thursday 8th November 2007

08:45 Morning Refreshments

09:30 Chairman’s Opening Remarks

09:40 Panel Session - Regional Focus: CFA Franc zone

• Economic outlook and key growth imperatives
• Treasury market and government finances.
• CFA Franc capital markets under the spotlight.
• How do the region's corporations finance themselves?
• Is the local banking sector releasing credit into the system?
• How much international interest is there?

Kassi Ehouman, Managing Director, Ecobank Senegal
Steve Jennions, Executive Director, Fixed Income, Morgan Stanley
Francois Ekam-Dick, Managing Director, Iroko Securities Ltd

10:20 Panel Session - Country Focus: Nigeria

• Economic outlook and key growth imperatives
• Treasury market and government finances.
• Nigerian capital markets under the spotlight.
• How do Nigerian corporations finance themselves?
• How successful have the banking sector reforms been?
• Is the local banking sector releasing credit into the system?
• How much international interest is there?

Ike Chioke, Deputy Managing Director, Afrinvest West Africa
China Danforth Onyemelukwe, Managing Director/CEO, Zenith Capital Ltd
Florian M. Witt, Associate Director, Financial Institutions Africa, Commerzbank AG 
Roger Woodbridge, Head of Global Markets, Standard Chartered Bank Nigeria Limited

10:55 Coffee Break

11:15 Panel Session - Country Focus: Ghana

• Economic outlook and key growth imperatives
• Treasury market and government finances.
• Ghanaian capital markets under the spotlight.
• How do Ghanaian corporations finance themselves?
• Is the local banking sector releasing credit into the system?
• How much international interest is there?

R. Yofi Grant, Executive Director, Databank Financial Services Limited and Chairman, Databank Brokerage Limited
Ebenezer N. Essoka, Country Chief Executive Officer, Standard Chartered Ghana

11:50 Panel Session - Country Focus: Kenya

• Economic outlook and key growth imperatives
• Treasury market and government finances.
• Kenyan capital markets under the spotlight.
• How do Kenyan corporations finance themselves?
• Is the local banking sector releasing credit into the system?
• How much international interest is there?

Maina Mwangi, Head of Investment Banking East, Central and Southern Africa, Renaissance Capital
Fred Mweni, Managing Director, Tsavo Securities Limited

12:25 Chairman’s Closing Remarks, Questions and Answers

12:30 End of Conference followed by lunch