Case Study
Case Study: A Local-Currency ABS for Digital Infrastructure
How a local-currency asset-backed structure referencing contracted telecom-tower cash flows can connect pension capital to real-economy assets.
Context
AOA is structuring a USD 20 million-equivalent local-currency infrastructure platform underpinned by an asset-backed security referencing an MTN Ghana contract. This case study outlines the structuring logic; transaction details remain subject to completion.
Structure
- Contracted, local-currency cash flows from a creditworthy counterparty.
- Senior notes designed to meet domestic pension eligibility requirements.
- Domestic listing to support eligibility and transparency.
Why it matters
The structure demonstrates how African institutional capital can be connected to real-economy assets on locally denominated, owner-controlled terms.
Related
Related intelligence
InsightExample
Local Currency Finance and the Next Phase of African Infrastructure
Currency mismatch has quietly undermined African infrastructure. Local-currency structures backed by real-economy cash flows offer a better path for domestic institutions.
InterviewExample
In Conversation: Matching Annuities With Infrastructure
A fictional example interview on how life insurers approach long-dated, local-currency infrastructure debt.
ResearchExample
Building Institutional Capacity for Infrastructure Investment
A framework for the governance, people and processes African asset owners need before scaling infrastructure allocations.
Connected
Related opportunities & events
Digital InfrastructureExample
Local Currency Digital Infrastructure Platform — Ghana
- Country
- Ghana
- Capital required
- USD 20m equivalent
- Investment type
- Senior Debt
- Stage
- In development
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