Transcript Slide 1
National Empowerment Fund August 2010 Presenter Mr. Milko Škoro Investment Principal Mission Statement “The National Empowerment Fund (NEF) is the catalyst of broad based Black Economic Empowerment in South Africa. We enable, develop, promote and implement innovative investment and transformation solutions to advance sustainable Black economic participation.” Organisational Structure BOARD OF TRUSTEES AUDIT COMMITTEE COMPLIANCE & RISK CHAIRMAN RISK MANAGEMENT COMMITTEE INTERNAL AUDIT HUMAN CAPITAL & REMUNERATION COMMITTEE CHIEF EXECUTIVE OFFICER SECRETARIAT BOARD INVESTMENT COMMITTEE EXECUTIVE COMMITTEE MANAGER: OFFICE OF THE CEO LEGAL COUNSEL CORE DIVISIONS CHIEF INVESTMENT OFFICER EXECUTIVE: FUND MANAGEMENT ASSET MANAGEMENT IMBEWU FUND UMNOTHO FUND EXECUTIVE: HUMAN RESOURCES CHIEF FINANCIAL OFFICER CHIEF OPERATING OFFICER BEE RETAIL INVESTMENTS MANAGEMENT OF SAIs RETAIL PRODUCT ISSUES PRE-INVESTMENT BUSINESS SUPPORT FINANCE PROCUREMENT TREASURY STRATEGY & PLANNING HUMAN RESOURCES MARKETING & COMMUNICATIONSUPPORT SERVICES SYSTEMS & IT POST-INVESTMENT BUSINESS SUPPORT LEGAL SERVICES Executive (member of Exco) Senior manager Manager NEF Mandate KEY OBJECTIVES OF THE NEF: Promote and support business ventures pioneered and run by black people; Promote the understanding of equity ownership among black people; Provide black people with direct and indirect opportunities to acquire share interests in State Owned and private business enterprises; Encourage and promote investments, savings and meaningful economic participation among black people. Ship Building Environment Ship Owner Industry Ship User Charter Party Agreement Ship Building Agreement Ship Builder Ship Managers Regulatory Environment Ship Owner Industry Ship User Charter Party Agreement Ship Managers / Operators Ship Building Agreement Ship Builder - International cargo ownership - Finance, trade, FX, Investment - Maritime Safety - Logistics - SA Maritime Charter - Vessel ownership laws (SA vs. Int.) - Building regulations SAMA and Int. - Domecillium of owners - Financiers security requirements - Project Finance - SA Maritime Charter - Safety standards - International compensation standards - Domecellium vs. operational laws - Enforceability of labour laws - International rights to vessel - SA Maritime Charter NEF’s Role Funder to: Ship Builders Ship Owners Ship Operators Charter Parties Long Term Funding ( 7 – 10 Years) Understand the Maritime Markets nuances Structure according to project needs Structure according to ownership needs Seek to promote a partnership model Mitigate risk through smart structuring What Do We Need? Comprehensive Business Plan Detailed Financial Models - Backed up with Contracts Proven Expertise / Technical Partnerships Operational Involvement Off-take agreements BB-BEE Skills Transfer Growth in Capacity Thank You