Pan-African Infrastructure Development Fund Presentation to the Portfolio Committee on Finance - 21 August 2007

Contents Rationale for the Fund Investment Thesis Progress Report Deal Flow 2 nd Close 2

Rationale for the Fund  The need for infrastructure in Africa  Competitiveness of the Continent  Promotion of Socio-economic development  “Africans doing it for themselves”  Enhancement of economic growth 3

Investment Thesis Investment Returns, 15% in US terms Invest in: Energy, Telecommunications, Water and Sanitation, Transport Regional investment approach Catalyst and co-promotion role 15 Year closed- end Fund 4

Progress Report PAIDF Facilitation Trust Established April 2006 Trustees (Brian Molefe & Prof. Wiseman Nkuhlu) Launch Team established April 2006 Roadshows June/December 2006 Legislative challenges in other countries need to be addressed before investing in a fund of this nature 5

Progress Report … continued Road shows commenced in July st Close Investors signed on 8 June 2007 with US$625 million commitments The Fund launched on 1 July 2007 in Ghana Private Placement Memorandum compilation for second closing to be finalised end of August

Deal Flow Generated deal pipeline comprising 21 deals amounting to approximately US$10,2 billion Pipeline comprises the various sectors of infrastructure Maximum limits set within the Fund as to exposure to the various sectors The capital has to be invested within seven years 7

2 nd Close Team preparing 2 nd Close Roadshows 2 nd Closing anticipated at US$1 billion Both African Countries and International Institutions will be targeted for 2 nd Close 8

Vision To create a sustainable infrastructure platform for the African continent. “ ” 9