Impaxis Capital promotes integrated financing solutions for oil and gas projects
Impaxis Capital was founded in 2003 by experienced bankers and financial professionals from major financial institutions. Impaxis is committed to supporting Senegal’s economic growth through the local and regional energy sector. Africa Energy Series- Senegal speaks to Impaxis MDs Momar Ndour and Ababacar Diaw.
What can Impaxis Capital offer to local and foreign investors in the energy sector?
Impaxis Capital offers high-level advisory on several financial services across various sectors including mergers and acquisitions, structured finance, project finance, and financial restructuring. Under Impaxis Capital, we have Impaxis Securities, which operates on the regional stock exchange and also has the capacity to build investment funds. Impaxis Investments is our investment company. As corporate bankers, we believe our role is to support the growth of the economy by investing in companies through equity.
What opportunities do you see in Senegal’s energy sector?
The energy sector is a strategic market for us. We have worked with the Societe Africaine de Raffinage (SAR) between 2008 and 2010. During this time, SAR was struggling with cash flow issues, so we designed a structured financing model allowing them to secure funds from international banks. As a corporate financial institution, energy is key for us. It is a strong factor of economic and social development. Our vision surpasses Senegal as we also intend to provide solutions across the Mauritania-Senegal-The Gambia-Guinea-Bissau-Guinea Conakry Basin. We define ourselves as tailored solution providers through local, regional and international partners and methods.
In the oil and gas sector specifically, we target clients who require an experienced stable partner on the ground. Service providers and logistics companies will be our core focus. Local content is key in this context as we aim to prove that local content – while being a governmental goal for social development – can also translate to added value for international and regional organizations, level with international standards.
To what extent can the regional stock exchange be an alternative to fund energy projects?
Impaxis Securities detains a license to operate on the regional stock exchange market. Although it won’t be the primary solution for energy projects and Impaxis will always favor mixed models, we must play a role of disintermediation between the public and the regional stock exchange, Bourse Regionale des Valeurs Mobilieres (BRVM). We want to help the BRVM grow so public offerings can become a genuine alternative to debt or equity – such models have the added value of involving the local people.
How important are ratings and certifications for your business?
Although we recognize the importance of such instruments, we believe the strongest certification is a proven track record. Thanks to high-level operations with clients such as SAR, Senegal’s national television station RTS and Matforce, Impaxis has proven its capacity to arrange multi-million deals in a variety of sectors, including working with foreign currencies. Our goal is to create bridges in the energy sector with local and foreign players who need our expertise in designing the optimum financial deal to develop their projects.
This article will be published in the upcoming Africa Energy Series – Senegal report, the most definitive resource produced on Senegal’s emerging hydrocarbons and energy markets, which is attracting investors from the upstream to the downstream and power sectors. The book is launching soon.