Insights in the Large Infrastructure stream.
Two structural choices dominate the design of large infrastructure transactions in African markets, and each has its own risk-transfer logic. When to structure as a public-private partnership, when to structure as a straight off-take, and when the choice is not a choice.
A companion piece to the m2 cluster on financeability. Where m2 explains the concept, m1 walks through what the financeability discipline means for infrastructure sponsors: the fiscal exposure, the equity return, and the concession-life sustainability.
Cost-benefit analysis is the discipline that separates infrastructure investment from infrastructure spending. What distinguishes a defensible CBA from a decorative one, how National Treasury's BFI framework treats CBA, and what a CBA that will survive review looks like.
A project either raises money or it does not. The difference is rarely the technology or the business case in isolation. It is the risk allocation, the counterparty stack, the environmental and social envelope, and the community-of-benefit design working together.