Senior Partner AFCORP Investments Kenya
Mr. Wattanga is a corporate finance and corporate strategy advisor with broad and in-depth public and private sector experience gained from providing advisory services and structuring cross-border business transactions in diverse sectors across Africa.
Selected Client Experience:
- Group Advisor: Strategy & Investments to AMS International Ltd., the largest property development company in East Africa. Establishing a $100 million Real East Fund and setting up a pioneering Real Estate Investment Trust (REIT) to be traded
on the Nairobi Stock Exchange.
- Lead advisor in the development of a pioneering government retail bond issued exclusively via a mobile platform, which has now been launched in Kenya and will be utilized by the Government to raise over $200 million per year for public infrastructure development. The entity comprises a blue chip Wall Street investment bank, the largest agricultural operating company in southern Africa and a $100 million private equity firm focussed on investing in food production and agribusiness sectors.
- Advisor: Strategy & International Development to the Elgin Group—a leading medium to heavy steel fabrication, machining and engineering entity based in Durban, South Africa and servicing clients—sugar mills and petroleum sector—across Africa. Structuring a joint venture partnership with target sugar mills in Kenya towards building a sizeable modern workshop to localize the fabrication and machining capacity in the region.
- Under a public private partnership (PPP) framework, structured a joint venture partnership between the State Mining Corporation of Tanzania and Elgin Engineering to form the Strategic Engineering Services Agency that is geared to be the premier local producer of small to medium scale mining equipment and de facto local provider of engineering services in the in the construction and maintenance of mines in Tanzania.
- Advised the Government of Unity State, Southern Sudan in the securitization of its oil revenue allocation to back a $100 million infrastructure development fund that financed the initial post-war construction of roads, bridges, power generation and potable water purification systems.
- Advised the Government of Unity State, Southern Sudan in the planning, structuring and establishment of a 20,000 hectare agricultural scheme setup for the production of maize and sorghum and intended to initiate the State’s drive towards self-sufficiency and non-dependency on WFP food aid.
- Advisor to a Cape Town based private equity investment holding company with respect to the establishment of a R1 billion private equity fund in South Africa. As the corporate finance advisor to the holding company, developed the private placement memorandum, investor presentation materials and coordinated development of financial model in support of the domestic and international investor solicitation effort.
- Advisor to the City of Bloemfontein in the structuring of its Integrated Development Plan incorporating a systemic allocation and utilization of a R3 billion annual budget over 5 years.
- Advised EDI Holdings on the R40 billion restructuring of the electricity distribution businesses and assets of Eskom, and 188 municipalities for the creation of six Regional Electricity Distribution companies. Mr. Wattanga led the team responsible for the tariff surcharge and levy structure for the consortium. He developed a quantitative framework for the compensation formulae for Eskom and the municipalities.
- Structured a joint venture partnership between a South African engineering firm—Elgin Engineering and a Zambian engineering company—United Machining Works; and led the partnership winning a contract to undertake plant design and construction of $30 million coal washing plant in Zambia.
- Developed a market entry strategy, implementation plan and structured a distribution and out-licensing agreement between Cipla-Medpro, South Africa’s largest generics pharmaceutical company, and Nigeria-German Chemicals that will see the former enter the sizeable market that is Nigeria and the latter sustainably developing a value brand of generic medicines to add to its product portfolio.
- Advised the NEPAD e-Africa Commission in developing a structural framework and capital raising strategy for Eastern Africa Submarine Cable System (EASSy), an initiative to provision a high bandwidth fiber-optic broadband cable to service 25 countries from the eastern seaboard of Africa.
- Prior to embarking on his Advisory practice, Mr. Wattanga was part of a select team brought in from the dot-com sector to help Southwestern Bell Corporation (now AT&T) in the US, to develop its internet business including the post-acquisition integration of Prodigy Communication into SBC’s internet services strategy. As the Strategy and Business Development Manager Mr. Wattanga:
- Developed Prodigy’s national broadband access strategy and tactical plan, then led negotiations with major out of region ILECs; Verizon, Bell South and Ameritech.
- Negotiated and closed revenue-generating deals with content and applications providers: MTV, Intuit, Checkfree, Orbit Commerce, Insurance.com, Citibank, Bank of America, Wells Fargo, Orbitz, Travelocity, CBS Healthwatch.