Transactions and Clients

Gauteng Province – Industrialisation Project (2015-2018)

Utho Capital has worked as Transaction Advisors on the Gauteng Industrialisation Project (2015-2018) to the Gauteng Government in the packaging of high catalytic projects as part of the re-Industrialisation and Modernisation of Gauteng Province. The project included the development of 12 business cases.

Swaziland Electricity Company

Financial Advisory services to the SEC for the procurement of the Lower Maguduza Hydro Power Scheme through an IPP bidding process

ZAR700m
Department of Environmental Affairs

Financial and BEE Advisors to the DEA for the Procurement of Office Accommodation through a PPP

ZAR850m
The DTI Campus Projects

Joint Financial and Transaction Advisors (with the local arm of Credit Agricole Indosuez), and Empowerment Advisors to Government and the successful bidder on behalf of the dti for the Procurement of Office Accommodation through a PPP

ZAR850m
Eskom & Transnet

Joint Transaction advisors (with HSBC) to Eskom and Transnet on the disposal of their stakes in Arivia.kom

Modern Africa

Transaction and Financial advisor to Modern Africa Fund, a US based private equity fund with investments primarily in information technology, telecommunications and media throughout Africa.

IDC

Utho were transaction advisors to IDC on the disposal of a 25% plus one share in Algorax.

Transnet & Grintek

Transaction advisors Transnet (South Africa) on the disposal of their stake in Fleetcall to a BEE consortium

SAWIT & KWV

Utho and HSBC acted as joint-transaction advisors to SAWIT on the formation of a BEE alliance to acquire a 25% stake in KWV.

Smartec

Joint Transaction Advisors to Smartec for the disposal of a 25% of the company to a BEE company.

Virtual Care Pharmacies

Co-Lead transaction advisor to management of Virtual Care Pharmacies, a division of Transnet, on a proposed management buy-out

Zimbabwe Power Company

Joint financial advisor (with KPMG) to the ZPC for the 600MW expansion of the coal-fired Hwange Power Station

US$1.2bn
Zimbabwe Power Company

Joint financial advisor (with KPMG) to the ZPC for the 300MW extension of the hydro Kariba South Power Station.

US$600m
Limpopo Provincial Government

Feasibility study into the establishment of a provincial growth fund, including justifying the need for a fund, legal due diligence, structuring the fund and developing an implementation plan.

Limpopo Provincial Government

Development of a project pipeline to attract private sector capital to the growth fund.

CEF

Advisory services for the Business Management Implementation Programme Management for an 8MW biomass electricity generation project located in the George area.

Dti

Reviewed the dti Accommodation PPP structure and documentation. Particular emphasis was placed on a detailed audit of the financial model, with emphasis on the Facilities Management costing inputs over the 20 years of the concession

PRASA

Utho Capital was the lead Transactional Advisor to undertake the Feasibility Study for the Cape Town International Rail Link

Gautrain

Utho is part of SERITI which is the independent socio economic monitor to Gautrain. The project involves contract management and evaluation of the concessionaire in terms of their socio economic obligations.

Eskom

Joint Transaction Advisors (with Arthur Andersen) to the Eskom Treasury Division for the commercialization of Treasury. The assignment resulted in identification of significant opportunities for Eskom’s Treasury Department to restructure the portfolio of services it offered as new participants entered the market and new instruments and mechanisms were introduced to the electricity-trading marketplace.

MTN

Joint Transaction Advisors to the International Business Division. Activities included: Assisting MTN with financial models for new assets in Africa; Assisting in its pursuit of new business opportunities on the African continent. Assisting the MTN team in managing its relationships with the government of various African countries, the regulatory authorities, and their legal and financial advisors.

Vodacom

Joint Transaction Advisors on a potential acquisition of a cellular operator in the Democratic Republic of Congo. The work involved due diligence investigation, valuation and providing a critical review of market growth estimates.

Social Housing Foundation (Shf) And European Union

Utho produced the Diagnostic Review of the Social Housing Institutions for the Social Housing Foundation. The review contextualised the role of, and the expectations of, the SHF within the social housing sector and from this it synthesised the issues and challenges facing the sector as a whole, as well as facing the SHF. Recommendations were formulated to improve the role of the SHF in the sector.

IDC

Utho were appointed by the IDC to value the purchase by the IDC, of a 25%+1 shareholding in The Reclamation Group (Pty) Ltd.

Denel

Utho were engaged by Denel (Pty) Ltd to perform a limited business review and valuation of Sybase (SA) (Pty) Limited and its subsidiaries in order to sell a portion of its shareholding.

AU PIDA Project Acceleration Initiative: Central Corridor Transport Projects

Utho Capital, working with Hatch Goba as technical subcontractor, was appointed to assist the DBSA in its task of packaging transport projects in East Africa on behalf of the World Economic Forum (WEF) and the Central Corridor Transit Transport Facilitation Agency (CCTTFA) for presentation to a presidential roundtable and to investors in an investor’s conference. This was a PIDA PAP project acceleration initiative.

SADC Public Private Partnership Program Support

The PPP Program Support project aimed to, with the cooperation of the SADC PPP Network (SADC3P), help achieve regional integration and poverty eradication within its member states through the identification of potential PPP projects based on infrastructure priorities set forth in the SADC Regional Infrastructure Development Master Plan (RIDMP) that would encourage trade facilitation and deepen the process of regional integration and cooperation. Utho partnered with IOS Partners to advise SADC3P on this initiative, which was then combined with a similar PIDA project acceleration initiative spearheaded by SADC Secretariat, culminating in the selection and development of a basket of implementation ready regional projects.

Fostering IPP Development through Private Investment in Transmission

Utho Capital, in partnership with Hatch, were appointed by the DBSA to advise the Department of Energy’s IPP Office on harnessing private sector capital in the development of transmission infrastructure. The objective of the project was to determine whether private sector finance can be harnessed to enhance the successful procurement of renewable energy from IPPs in South Africa in order to alleviate funding pressure on the SA power utility.

APIX – Investment Arm of the Senegalese Government

Utho were advisors to APIX to assist with boosting investment into Senegal from South African companies. Identification of key sectors for capital project focus within Senegal; Short-listing of specific investment opportunities in Senegal for South African entrepreneurs / companies in each focus sector Preparing a target list of at least sixty South African companies / entrepreneurs with a strong potential to invest in the focus sectors in Senegal Framework for arranging one-on-one meetings with the above mentioned South African companies / entrepreneurs and Senegalese counterparts and institutions; Evolving a plan to arrange focused business delegations from South Africa to Senegal Evaluating current strengths and systems for Overseas Investment Promotion in Senegal Based on this evaluation recommend initiatives to enhance the quality and effectiveness of support systems, which would make Senegal a more investor-friendly destination Propose a “Matrix of Institutional Alliances” between companies and organisations in Senegal and South Africa to give a sustained boost to these efforts.

DBSA: SAPP study on Cross Border Financing Models for Regional Power Projects in the SADC Region

Utho were the lead consultants to the DBSA on this project. The study was designed to assist the region to overcome the challenges and bottlenecks that are currently hindering the development of regional power projects. The study was funded by the DBSA and AfD, and its main objectives was as follows: Review existing cross-border financing models and approaches with the aim of ascertaining best practice, and best ‘fit’; Develop a ‘situational and needs analysis’ of the SADC regional project financing environment; Develop generic principles and cross-border financing models [including institutional, regulatory, legal and political arrangements] Develop specific principles and cross-border financing models and Recommend the best option for the SADC region and an associated implementation procedure.

SADC Banking Association

Utho was the technical advisor to Southern African Development Community- Banking Association (SADCBA) & Canadian International Development Agency (CIDA) to assist formulate infrastructure development in SADC by providing technical assistance in the form of: Identification and prioritisation of projects for PPPs; Training and capacity building; Networking initiatives to promote PPPs in the region; Short and long term technical assistance for PPP related projects; and Monitoring and evaluation This project involved 6 countries in SADC including; Zambia, Tanzania, Mauritius, Malawi, Botswana, Mozambique

DBSA: SAPP study on Cross Border Financing Models for Regional Power Projects in the SADC Region

Selected and packaged 10 power projects in the SADC region for the Investors’ Round Table Conference held in July 2009. The final output was Project Information Reports for each of the selected projects for distribution to delegates. These reports were designed to convey the appropriate level of information to potential investors, developers, EPC contractors and other stakeholders in attendance.

National Treasury

Utho Capital were consultants to the National Treasury to assist in the Capacity building project with the Public Private Partnership Unit of National Treasury. The main purpose of the Project was to carry out institutional surveys and develop funding plans that would provide a solid foundation for focused capacity building initiatives designed to enhance both conventional and PPP procurement capacity in provincial treasuries.

National Treasury

Utho Capital were consultants to the National Treasury to assist in the review and drafting of the BEE guidelines and framework for PPPS in South Africa.

The Courier and Freight Group

Financial advisor in consortium that developed and implemented a turnaround strategy for The Courier and Freight Group.

Busa Plastics

Financial advisory component of a team that implemented a turnaround strategy for Busa Plastics.

Department of Transport

Formulation of capital restructuring strategy for the Airports Company of South Africa for and on behalf of Department of Transport. This involved: Determining the long-term dividend policy and strategy. Addressing the current capital structure of ACSA (long-term debt as opposed to short-term debt Examination of the Regulatory environment to ensure there will be favourable return to the current and potential future shareholders of ACSA; Exercising of the Aeroporti di Roma (ADR) option in terms of the Shareholders’ Agreement and the strategy to follow with respect to the sale; The optimal capital structure in terms of long-term versus short-term debt

Michelle Shoes

Utho was appointed by the IDC to develop and help to implement a turnaround strategy for Michelle Footwear, manufacturers of the Froggie range of ladies footwear. The Utho team undertook a diagnostic due diligence of the business to determine the causes for distress, identify short term interventions to arrest the cash flow drain, and develop a long term turnaround strategy. Utho successfully developed a turnaround strategy, including cost cutting measures, debt restructuring, a new sales and marketing strategy, improved financial management systems and a monitoring and evaluation programme. Utho is currently assisting Michelle with implementation of the turnaround strategy.

Free State Department of Public Works, Roads and Transport Office Accommodation Project

Utho Capital was the lead Transaction Advisor and project manager on the above mentioned project. The transaction involved determining the feasibility of procuring a suitable and sustainable serviced working environment (accommodation and one-stop related services) for the five municipal districts in the Free State Province.

PUBLIC PRIVATE PARTNERSHIPS
Blue IQ, Automative Supplier Park

Financial Advisor for a feasibility study for the expansion of The Automotive Supplier Park by procuring the design and construction of additional phases within the park by way of a PPP.

Blue IQ, Automative Supplier Park

Financial Advisor for a feasibility study for the expansion of The Innovation Hub by procuring the design and construction of Enterprise Building 2 by way of a PPP.

BLUE IQ

Utho Capital was the Transaction Advisors to the Blue IQ to investigate the possibility of procuring the development of Constitutional Hill Via a Public Private Partnership (PPP). The task included undertaking a feasibility of the site to understand the implications of the intended development on behalf of Blue IQ.

Eastern Cape Department of Health – Hospital Accommodation at Lusikisiki at St. Elizabeth’s Hospital

Utho Capital was the lead Transaction Advisor to undertake a feasibility study to determining the feasibility of procuring staff accommodation at the Lusikisiki Hospital via a PPP. Utho Capital was the BEE Advisors to the Private Party Consortium for the Department of Foreign Affairs Office Accommodation PPP, which includes Design, Construction and Facilities Management.

Department of Justice and Constitutional Development

Utho Capital is the co-project manager together with PD Naidoo and Associates on this PPP. Utho is the stream leader for Financial and BEE. The transaction involves assisting in the procurement for the establishment of Head Office Accommodation for the Department and some of its entities

Department of Environmental Affairs

Utho Capital is the Financial and BEE Advisor on this team. The transaction involves assisting in the procurement for the establishment of Head Office Accommodation for the Department and some of its entities

Eastern Cape Department of Health

The project entails the transformation of the pharmacy distribution division by revising the current utilisation practices, identifying alternative service delivery mechanisms and to implement a new service delivery mechanism and a new service delivery model.

The DTI Campus Project

Utho professionals formed part of the financial and Transaction Advisory team, together with the local arm of Credit Agricole Indosuez (“CAI”), project managers of the financial feasibility and bidding processes, and empowerment advisors to government and the successful bidder on behalf of the Department of trade and industry.

Thabazimbi Municipality Civic Centre

This transaction involves undertaking a feasibility study to determine the best option by which to develop the municipality civic centre

Department of Correctional services – Prisons Bid

Utho Capital was been appointed as Empowerment Advisor to the Murray and Roberts for the Department of Correctional Services Accommodation PPP, which includes Design, Construction and Facilities Management.

The Department of Arts Culture & Technology (“DACST”) Project

Utho Capital was the transaction involved advising this government Department on a project finance structured new office complex development that was to be conducted under National Treasury’s Public Private Partnership guidelines. The team concluded its preliminary evaluation of the feasibility study and options analysis in the context of the affordability constraints identified during the feasibility study. On the basis of the preliminary feasibility findings it was recommended that the PPP model was not suitable for this particular project

City of Tshwane – Munitoria PPP

Utho were transaction advisor to a private sector consortium bidding for the municipal accommodation facilities via a PPP for City of Tshwane. The Utho team was responsible for Black Economic Empowerment advisory.

Department of Science and Technology – accommodation PPP (2016)

Utho are the Transaction Advisors to the DST undertaking a feasibility study and procurement process for the design, construction, refurbishment and facilities management for the existing and new building.

Midvaal Local Municipality (2016)

Utho conducted a Feasibility Study and an Assessment of the Electricity Management, Distribution and Maintenance Services in Midvaal in order to determine the most appropriate technical and service delivery option to ensure long term effective and efficient service delivery of electricity in Midvaal.

Securities and Exchange Commission – Ghana (2016)

Utho are part of the Transaction Advisory team that undertook a Feasibility Study for Office Accommodation Complex on a PPP Arrangement for Securities and Exchange Commission – Ghana

Local Government Services Ghana (2017)

Utho are part of the Transaction Advisory team that is undertaking a Feasibility study for the Construction of an Office Complex for OHLGS under PPP Arrangement for Ghana Local Government Services.