16 March 2018, Sweetcrude, Casablanca, Morocco – Africa50, the pan-African infrastructure investment platform capitalized by the African Development Bank, 25 African countries, and two African Central Banks, is pleased to announce the appointment of Raza Hasnani as Head of Infrastructure Investments for Africa50 Project Finance.
Sourcing projects through Africa50 Project Development and other partners, Africa50 Project Finance engages stakeholders post financial close. Following a private equity model, it provides primarily equity and quasi equity with flexible exit options, while accessing debt generally from the African Development Bank and development finance institutions (DFIs). It typically takes significant minority stakes of over $20 million, focusing on profitability as well as development impact, and playing an active role regardless of the type of investment. Returns are differentiated based on risk, impact, and location. Africa50 Project Finance may also invest in and sponsor private sector funds to mobilize institutional investor capital.
“The appointment of Mr. Hasnani marks another important step in Africa50’s development,” said Akinwumi Adesina, President of the African Development Bank and Chairman of the Board of Directors of Africa50. “His global experience in sectors such as energy and transport, and his financial know-how will contribute greatly to the success of Africa50 Project Finance.”
Hasnani is a globally recognized infrastructure investor, with over 23 years of private equity and infrastructure experience in Africa, Asia and the Americas. Previously, he was Managing Director at The Abraaj Group, where, for over a decade, he worked on all aspects of the investment process, from sourcing and execution of infrastructure and private equity transactions, to post-acquisition value creation and membership on boards. Prior to that, Hasnani was with Exxon Mobil Corporation in Dallas and Houston, where he led project and corporate financing for energy and infrastructure projects in Africa and around the world. He started his career at Deloitte in Philadelphia.
Hasnani has invested in renewable and conventional power plants, electric and gas utilities, pipelines, ports, terminals, upstream, refineries, transportation and other infrastructure assets around the world. He holds an MBA from the Wharton School at the University of Pennsylvania and a BA from Franklin and Marshall College. He also holds Certified Public Accountant and Fellow Chartered Accountant qualifications.
“I am pleased to join Africa50 in its important mission of speeding infrastructure delivery in Africa. It is in a privileged position to leverage its committed capital of over $800 million to attract other investors, providing them with an attractive return while assuring a strong development impact,” said Mr. Hasnani.
“Raza is an excellent addition to our growing team,” added Africa50 CEO Alain Ebobissé. “His broad and deep private equity and infrastructure experience, as well as his sectoral expertise, will allow him to effectively source and execute urgently needed infrastructure projects.”
