The Challenge of Long-Term Projects and Capital in Africa

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This chapter discusses the lack of long-term projects and capital in Africa, highlighting the scarcity of available private equity money and development finance institutions' limited provision of long-term funding. The importance of aligning project goals with its capital structure and shareholder identity is emphasized.

Stephen and Tyler first met over thirty years ago while working on economic reforms in New Zealand. With a distinguished career that transitioned from the New Zealand Treasury to significant ventures in emerging economies, Stephen now focuses on developing new urban landscapes across Africa as the founder and CEO of Rendeavour.

Tyler sat down with Stephen in Tatu City, one of his multi-use developments just north of Nairobi, where they discussed why he’s optimistic about Kenya in particular, why so many African cities appear to have low agglomeration externalities, how Tatu City regulates cars and designs for transportation, how his experience as reformer and privatizer informed the way utilities are provided, what will set the city apart aesthetically, why talent is the biggest constraint he faces, how Nairobi should fix its traffic problems, what variable best tracks Kenyan unity, what the country should do to boost agricultural productivity, the economic prospects for New Zealand, how playing rugby influenced his approach to the world, how living in Kenya has changed him, what he will learn next, and more.

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Recorded June 12th, 2023.

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