Day One - 12th November 2008

08.30 Registration and morning refreshments

09.00 Chair's opening remarks

Keith Mullin, Editor-in-Chief, IFR

09.10 Keynote

09:40 Macroeconomic outlook for 2009

• What does the future hold for the economies of Sub-Saharan Africa? Where does Africa fit into the global economy?
• Decoupling, havens, and contagion: How has Africa been affected by the credit crunch?
• What does the crunch mean for sovereigns hoping to tap the Eurobond markets next year?
• Performance of core capital markets
• Assessing Sub Saharan capital requirements over the next 18 months
• Who's still investing in Africa? What's happening to FDI flows?
• Inflationary outlook
• Impact of political uncertainty
• Is China in Africa still one of the big stories?

Stephen Bailey-Smith, Head of Research - Africa, Standard Bank
Stuart Culverhouse, Chief Economist, Exotix
Razia Khan, Regional Head of Research, Africa, Standard Chartered

10.20 Sub-Saharan currency exposure

• Synthetic currency deals: which high grades are issuing?
• Drivers for raising money in African currency
• Pricing
• How do Sub-Saharan currencies fit into an exotic currencies strategy?

Richard Teichmeister, Head of Funding for Europe (ex-Euro) and Africa, European Investment Bank
Marie-Laure Akin-Olugbade, Principal Financial Analyst, Officer in Charge, Financial Technical Services Division, African Development Bank
Chris Kenny, Managing Director, WestLB Securities

10.50 Morning refreshments

11.10 International inflows into local markets

• What are investors focusing on? What are they looking for?
• Government
• Corporate

Arthur Arnold, Advisor, FMO
Vicente Pons, Director, Structured Products, Exotix
Marc Fidelman, Executive Director, Fixed Income, Currency and Commodities, Goldman Sachs

11.55   The internationalisation of Sub-Saharan domestic capital markets

• Originating domestic debt for international investors
• How has interest in Sub-Saharan Africa been affected by the credit squeeze?
• Pricing parameters
• Deal flow and prospects

Alex von Sponeck, Managing Director, Sub-Saharan Africa Coverage, Investment Banking Division, Goldman Sachs
Ade Adebajo, Head, Debt Capital Markets - Africa, Standard Chartered
Ladi Balogun, Managing Director and Chief Executive Officer, First City Monument  Bank
Wale Tinubu, Group Chief Executive, Oando Group
Rob Walker, Director, Head of DCM Africa, Global Markets, Standard Bank
Peter Malik, Managing Director, JP Morgan

12.35 The horizon for sovereign and corporate issuance

• Assessing the outlook for sovereign issuance in 2009; are levels likely to rise in the next few months?
• Which sovereigns are likely to come to market? Which African countries will be next to follow Ghana and Gabon in the Eurobond market?
• Which corporates are looking to issue? Which corporates qualify?
• To what extent has issuance been impacted by the credit crunch?
• Is sovereign issuance providing benchmarks for corporate issuance?
• Assessing pricing levels and risk

Emmanuel Crenne, Managing Director, Emerging Markets Structuring, Merrill Lynch
Dominic Schultens, Associate Director, Structured Loans - CEEMEA, WestLB
Andrew Dell, Managing Director, Head of Emerging Market Debt, HSBC
Rupesh Hindocha, Director, Head of Fixed Income Coverage, Sub-Saharan Africa, Credit Suisse
Maryam Khosrowshahi, Managing Director, Co-Head of EMEA Sovereign DCM, Citi
Jacques Els, Head: Bonds, Convertibles and Hybrids, Absa Capital

13.15 Lunch

14.30 Sovereign ratings panel

• Outlook for Sub-Saharan Africa
• Are commodity and energy prices having any impact?
• Timeline for potential ratings upgrades - what needs to be achieved before further ratings progressions?
• Is debt relief still an issue?
• Assessing sovereign capacity and ability to manage debt

Paul Rawkins, Senior Director, Sovereign Group, Fitch Ratings
Arnaud Marès, Senior Vice President, Sovereign Risk Group, Moody's Investor Service
Dr. Farouk Soussa, Director, Head of Middle East & African Sovereign Ratings, Standard & Poor's

15.05 Corporate Panel

• Which sectors are borrowing?
• How are they borrowing?
• What opportunities are there for international lenders in Sub-Saharan syndication markets?

 Joe Owusu-Ansah, Chief Financial Officer, Ghana Telecom
 Guy Essome, Director, Structured Products, Iroko Securities

15.40 Afternoon refreshments

16.05 Financing Sub-Saharan infrastructure

• Assessing capital requirements
• Outlook for funding - where will the money come from, and in what form? Domestic or International?
• Evaluating bank appetite for lending to Sub-Saharan projects
• Interest from SWFs and infrastructure funds

Hiren Singharay, Head, Syndications Europe/Africa/South Asia, Standard Chartered

16.35 Investor Panel

• What is the investor base for Sub-Saharan Africa? Is it changing and was there any contagion from the Kenyan crisis?
• Where are investors putting their money?
• Levels of hedge fund and private equity interest
• Levels of expected returns
• Managing and mitigating risk

Amir Shariat, CEO, Auctor Capital Partners
Francis Beddington, Head of Research, Insparo Asset Management
Kevin Daly, Portfolio Manager, Emerging Markets Debt, Aberdeen Asset Management
Alia Yousuf, Head of Emerging Markets Debt, Standard Asset Management

17.25 Chairman's closing remarks and end of Day One

Day Two - 13th November 2008

08.30 Registration and morning refreshments

09.00 Chair's opening remarks

Keith Mullin, Editor-in-Chief, IFR

09.05 Debt market review: Ghana

• Brief economic outlook
• Assessing Ghana's response to a growing budget deficit
• Domestic debt market activity
• Levels of international interest and capital inflows
• Assessing risk and returns
• Outlook for 2009

 R. Yofi Grant, Executive Director, Databank Financial Services Limited; Chairman, Databank Brokerage Limited

09.35 Debt market review: Botswana

• Brief economic outlook
• Domestic debt market activity
• Levels of international interest and capital inflows
• Assessing risk and returns
• Outlook for 2009

 Doug Munatsi, Chief Executive Officer,African Banking Corporation

10.05 Debt market review: Nigeria

• Brief economic outlook
• Is Nigeria a haven from sub-prime and political turmoil?
• Assessing developments in corporate governance standards
• Domestic debt market activity
• Levels of international interest and capital inflows
• Assessing risk and returns
• Outlook for 2009

Emmanuel Crenne, Managing Director, Emerging Markets Structuring, Merrill Lynch
Olutayo Aderinokun, Managing Director and CEO, Guaranty Trust Bank
Christian Karam, Head of Africa Desk,  Sumitomo Mitsui Banking Corporation Europe Ltd 
China Danforth Onyemelukwe, Managing Director and CEO, Zenith Capital
Roger Woodbridge, Head, Global Markets, Standard Chartered Bank Nigeria

10.50 Morning Refreshments

11.20 Debt market review: Zambia

• Brief economic outlook
• Domestic debt market activity
• Assessing the effect of reforms to the bond market
• Levels of international interest and capital inflows
• Assessing risk and returns
• Outlook for 2009

 Mizinga Melu, Managing Director, Standard Chartered Bank Zambia
Chris Kenny, Managing Director, WestLB Securities

11.50 Debt market review: Kenya

• Brief economic outlook
• How has recent political turmoil impacted capital markets?
• Domestic debt market activity
• Levels of international interest and capital inflows
• Assessing risk and returns

 Andrew Mwangangi, Head of Operations and Fixed Income Sales, Kestrel Capital

12.20 Closing wrap

• Where does value lie? What are the risks?
• Country focus
• Expectations for 2009

Ade Adebajo, Head, Debt Capital Markets - Africa, Standard Chartered
Graham Stock, Executive Director, Emerging Markets Research, JPMorgan
Gregory Kronsten, Director, Africa Research, Trusted Sourcesther selected speakers

12.50 Chairman's closing remarks and end of conference, followed by lunch