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Wari Strategic Board Meeting

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Presentation on theme: "Wari Strategic Board Meeting"— Presentation transcript:

1 Wari Strategic Board Meeting
January 2018 Strictly confidential

2 Wari Strategic Board Meeting
Welcome address, approval of proposed agenda. Items requiring Board approval : - Board structure; -  Committees, Board Governance Structure: guidelines and Terms of Reference; -  Appointment of new Chairman. Performance review ; Review and approval  of  strategic and  Business Plan; Approval of  Company organization structure; Objectives review and approval; Power delegation process; Review and approval of 2018 Board meeting calendar; Other business ; Closing. Wari Strategic Board Meeting November 2017 Strictly confidential

3 Wari Strategic Board Meeting
Items requiring Board approval : - Board structure; -  Committees, Board Governance Structure: guidelines and Terms of Reference; -  Appointment of new Chairman. Wari Strategic Board Meeting November 2017 Strictly confidential

4 HR AND REMUNERATION COMMITTEE Group Holding functions
Wari Governance structure Chains of command BOARD Chairman: Kabirou Mbodje Executive Directors Independant Directors HR AND REMUNERATION COMMITTEE Chairman 2 Independant Directors AUDIT COMMITTEE 2 Independant Directors External Audit Internal Audit Group Holding functions Executive Committeee Management Commitee Investment Committee Subsidiray functions Source Company information 7

5 Management committee (1/4)
A. Management committee Management committee (1/4) Board of Directors Wari Holding Kabirou MBODJE Amadou DIOP Aïcha KOUYATE Scott EISNER Executive Director Chairman and founder French Executive Director Engineer American / Senegalese Executive Director Legal/MBA Ivoirian Non Executive Director VP U.S. Chamber of Commerce - American Since 2008, run the Wari Group, founded with the aim of providing people, especially in Africa, with services tailored to their needs. ceo.wari.com/fr CEO Millenium Connect Africa, a Wari associated company. Executive Vice President at Wari Holding Previous: Before joining Wari Amadou was Managing Director of Africa & Middle East for Panamsat (Intelsat), largest private satellite services provider in the world. Before Panamsat he worked as Director Business Development for Hughes Space and Communication (HSC), satellite division for 8 years. General Secretary and Vice President at Wari Holding Previous: Regional Legal and Compliance Citibank West Africa Group Director Banque Atlantique Corporate Secretary Legal-Compliance- HR Group Director Teyliom Legal-HR-Corporate Secretary President of the U.S.-Africa Business Center at the U.S. Chamber of Commerce. He is also an officer at the Chamber serving as senior vice president. He represents the Chamber’s interests in Africa through its U.S.-Africa Business Center (USAfBC), with senior-level U.S. government officials, international business leaders, and African governments. In addition, he heads the Chamber’s U.S.-South Africa Business Council and the U.S.-Cote d’Ivoire Business Council. Michael KOLBECK Fatimatou Zahra DIOP Dr Mabouba DIAGNE Non Executive Director MBA German Non Executive Director Retired Senegalesee Non Executive Director Banker Senegalesee Managing Director Lone Star, German Acquisition. European Corporate Investment. Previous : Director at Hudson Advisors German GMBH Former General Secretary at West African Central Bank (Head Office). Now retired Fatimatou Zahra Diop is a true figure in women's leadership. She was the first woman to head BCEAO and in the eight member countries of the West African Monetary Union (WAMU) for three years before becoming Secretary General of BCEAO-HOME. Director at TDB for Structured Finance and Invetsment Banking Previous:Before joining TDB he was Group Head of Corporate and Investment Banking at Atlas Mara/Bank ABC Group playing the role of building the Corporate and Investment Banking Businesses in Bank ABC...Prior Atlas Mara he was acting as regional Managing Director Corporate Coverage for Southern Africa (ex SA) Barclays Bank Source Company information 10

6 Wari Strategic Board Meeting
Performance review  Wari Strategic Board Meeting November 2017 Strictly confidential

7 Wari Group – Company snapshot (1/4)
A leading and fast-growing digital financial services (DFS) provider Overview Main financials1 Key operating figures Created in 2008, Wari is a digital financial services (“DFS”) provider offering mobile, web and card solutions for organisations and customers in 60 countries Wari generated revenues from fees charged on transactions net of banking partners’ and points of sale (“PoS”) agents’ commissions Wari was founded by Kabirou Mbodje, a renown French- Senegalese business man who is now CEO of the Company Revenue (€m) Yearly growth PoS: Over 500k including 45k in Africa Countries: Operations in 60 countries in Africa, Europe and US Users: 210m Partner banks: 159 Central banks: 11 Employees: c worldwide +13% +50% Wari 54 48 32 2014 2015 2016 EBITDA (€m) as % of Revenue - 59% 61% Key partners # of transactions 35% 32.8 28.3 Mobile network operators (“MNO”) & others… Banks Oil companies Other financial companies Utility companies Insurance companies Postal service companies Money transfer companies c. 100m transactions in 2016 worth approximately $5bn In millions 80% 12-16 CAGR 97.0 43.8 9.3 11.2 NA 2014 CAPEX (€m) as % of Revenue - 2015 2016 3.0% 1.0 0.4% 1.3% 0.7 0.2 2014 2015 2016 Sources Company information, Global Data report Note 1 Exchange rate: €1.00 = CFCA656 2

8 Wari Group – Company snapshot (2/4)
Wari’s product mix summary Remittances Bill payment/Disbursement Description Description Airtime Wari Digital Account MyWari Description Description Description Send and receive money in all Wari points of sales worldwide Restrictions: Limits on minimum and maximum transfers depending on the host country Launch date: 2008 Make bill payments and settle their disbursements (scholarship, pensions, insurance, NGO payments) Restrictions: Only applicable for bills not overdue (BP) and registered beneficiaries (Disb.) Launch date: 2011 Buy mobile airtime via any Wari point of sales and benefit from discounts Restrictions: A valid mobile network service subscription Launch date: 2013 Access to all the services provided by Wari through a digital account Launch date: 2014 Access the entire scope of Wari services through a Smartphone application With news services : insurance products loan and investment games and lottery media Warishop Launch date: 2017 # of transactions (‘000) 8,286 2,047 84 Transactions value (€‘000)2 Evolution of client (‘000) Evolution of rev. (€‘000)1,2 Evolution of rev. (€‘000)2 Evolution of rev. (€‘000)2 53,578 45,728 1,672 57,903 31,503 672 704 23,496 145 34 101 121 1,186 2014 2015 2016 2016 2014 2015 2016 2015 2016 2017 2017 2018 2019 Source Company information Notes 1 2 Different scale due to significant data differences Exchange rate: €1.00 = CFCA656 3

9 Wari Group – Company snapshot (3/4)
Wari's digital products BiPme Wari Taxi At your service Description Description Description BiPme is a messaging application that allows you to communicate with family, friends, colleagues,... by message, call, video and file sharing. With innovative features such as: real-time translation of conversations even in several languages, sending and receiving money during a live chat session, validation and unlocking secured by biometrics, secure storage,... Wari Taxi, for client press a button to order a vehicle where you are. Get on board! Your driver knows exactly where to go. You will always find economical cars at reasonable prices. For drivers, run errands with Uber at any time of the day or night. From the very first race, you are put in touch with your customers and propose your services and rates. At yours ervice is a concierge service where everyone can provide services or products for everyone. And where everyone can buy services and products very simply. It is a place of exchange, sharing and business in a secure environment, with simplified and guaranteed payments. At your service, you can create your business activities very quickly or develop your current activities by offering your services more widely and quickly. Launch date: 2018 Launch date: 2018 Launch date: 2018 Source Company information 4

10 Wari Group – Company snapshot (4/4)
Focus on Interlink: retail service provider of Wari Group Overview Main financials1 KPI While Wari SA is principally responsible for technology and branding, Interlink is responsible for PoS agents and other distributors, playing a role of super-agent for banks and other partners Both Wari SA and Interlink earn revenue through a shared fee on transactions Interlink’s first objective is to promote agency banking activities in the Wari ecosystem Interlink was created in 2011, it operates as a holding company which owns several companies responsible for the development of the Wari product distribution network Its main missions are the following: Open, develop and monitor business activity in the countries where Wari operates Create and train network agents Supervise the day-to-day operations of the countries Be the only contact point for the distribution network Respond to the logistic needs of Wari’s network Monitor the promotional aspects and the marketing strategy of the distributors Interlink has its own managing director and corporate structure Wari is Interlink’s only client Revenue (€m) Yearly growth Number of PoS +23% +52% 30.7 Interlink 60,000 24.9 16.4 2014 2015 2016 35,000 EBITDA (€m) as % of Revenue - 67% 62% 60% 20.5 14.4 11,815 9.9 NA 2014 - 2015 2016 2015 2016 2017 Key products and services Equipment supplier Products customization Wari cards, international cards and private cards Others Day-to-day management of retail network Network connectivity Logistics management Marketing campaigns Promotions Electronic Payment Terminal (“EPT”), ATM machines, mobile Point of Sale (“mPOS”), payment / credit cards and biometric payment solutions Source Company information 5

11 Wari Strategic Board Meeting January 2018
Performance review  Wari Strategic Board Meeting January 2018 Strictly confidential

12 Wari Key Performance of past years
Source Company information 7

13 EVOLUTION DE CERTAINS AGREGATS DE 2009 A 2017
WARI GROUP EVOLUTION DE CERTAINS AGREGATS DE 2009 A 2017 31/12/2017 ITEMS 2009 2010 2011 2012 2013 2014 2015 2016 2017 AGREGATS OPERATIONNELS PAYS COUVERTS 3 8 16 19 25 29 34 35 EFFECTIF DIRECT 5 7 10 31 38 77 103 107 122 BANQUES ET ETS FINANCIERS (EFP) 12 23 39 61 81 144 183 200 PARTENAIRES UPSTREAM 1 2 4 6 42 MARCHANDS 110 721 901 991 DISTRIBUTEURS 21 37 79 274 616 1059 1408 1526 1 700 POINTS DE VENTE (POS) 1264 2 351 3 947 7 935 14 457 27 757 51 568 64 382 82 754 POS ACTIFS ANNUEL 643 1222 2003 3963 7302 12081 19885 24153 28 075 TAUX D'ACTIVITE ANNUEL 50,9% 52,0% 50,7% 49,9% 50,5% 43,5% 38,6% 37,5% 33,9% NOMBRE DE TRANSACTIONS REMITTANCE BILL PAYMENT 15 085 BENEFIT PAYMENT 12 021 30 242 92 347 AIRTIME 23 821 CARTE 8 345 91 834 MONTANTS DES TRANSACTIONS TOTAL DES COMMISSIONS COMMISSIONS WARI GROUP 90 900 TARIF MOYEN 999 1 007 938 752 543 432 401 389 406 998,63 1005,63 937,71 759,22 541,28 433,47 407,70 395,64 409,80 0,00 424,00 423,76 421,56 424,69 419,09 422,39 396,84 1187,00 1186,54 1283,08 1221,14 1098,66 759,76 506,60 612,40 55,49 51,56 47,43 45,85 51,10 15,79 123,77 102,28 149,02 Jan 2018 Strictly confidential

14 EVOLUTION DU NOMBRE DE POS ACTIFS ANNUEL DE 2009 A 2017
Wari Network evolution WARI GROUP EVOLUTION DU NOMBRE DE POS ACTIFS ANNUEL DE 2009 A 2017 31/12/2017 AGREGAT OPERATIONNEL POS ACTIFS ANNUEL ITEMS # 2010 2011 2012 2013 2014 2016 2017 1 222 2 003 3 963 7 302 12 081 24 153 28 075

15 EVOLUTION DU TARIF MOYEN DE 2009 A 2017
WARI GROUP EVOLUTION DU TARIF MOYEN DE 2009 A 2017 31/12/2017 TYPES DE SERVICES TOUS TYPE DE DONNEES TARIF MOYEN

16 Worldwide presence of Wari
A global presence and Panafrican leader … and with mywari.com , services Wari are available worldwide Source Company information 8

17 Wari Strategic Board Meeting
Review and approval  of  strategic and  Business Plan; Approval of  Company organization structure; Objectives review and approval Wari Strategic Board Meeting January 2018 Strictly confidential

18 Wari capital structure
Wari Group KM Holding 100% SP2I 100% 100% 98,2% 100% 100% 100% 100% Interlink Gp Wari Financial Services Wari SA Wari Telco Holding Wari LLC Wari Luxembourg TSI 100% 15% Interlink Europe Interlink US Ets financial 100% Local Bank 35% Mansa Bank 10%  Wari Technology Milicom NV Data Wari Payment Ltd Ireland Aevatar Sentel Mobile cash 100% Interlink Afrique Wari Branding News acquisitions Wari Limited Asia Data International Interlink 24 countries Senconnect Source Company information 6

19 Chief Financial Officer
Wari Governance structure Function organization chart Wari Holding CEO  Kabirou Mbodje  Board of Directors General Inspection Internal audit Executive VP Corporate Secretary Aicha Kouyate Executive VP Executive US Director Amadou DIOP   Chief Financial Officer to be hired  Chief Operating Officer  Sub Saharan Africa Adama Cisse  Group Head Special Projects Mouhamed SEYE Chief Operating Officer East Southern Africa To be discussed Chief Human Resources to be hired  General Director Interlink Group To be discussed Chief Marketing Officer to be hired  Executive Europe Director David Lacoffrette oup Group Head Com iNST and CSR Awa DIA Chief Technology and information officer Executive Asian Director David Wang  Source Company information 8

20 Worldwide presence of Wari
A global presence and Panafrican leader … and with mywari.com , Wari services are available worldwide Source Company information 9

21 Management committee (2/4)
A. Management committee Management committee (2/4) Wari Holding Managers1 Kabirou MBODJE Amadou DIOP Aïcha KOUYATE Chairman & CEO of Wari SA VP Executive Director Wari LLC VP General Secretary CEO, Telecom Engineer and entrepreneur. Kabirou has worked for renowned companies such as Telecel and Havas Communications before creating Net TV, a Network Interactive Television in 2002. He is now the owner and founder of Wari. He has received several achievements and awards in Africa and Europe (incl. the UEMOA IT Awards and the Cauris d’or emerging companies in 2012). Kabirou graduated from Conservatoire Nationale d’Art et Métiers (Media and Visual communication diploma), Paris VI Jussieu (Science diploma) and Columbia university (Bsc. in Applied Physics and MBA in Finance) Executive director of Wari LLc / USA, and CEO of Millennium Connect Africa a Wari associated company. He has experience as top management in renowned companies (Panamsat (Intelsat), Hughes Space and Communication (“HSC”) and HSC Ventures organization). He also is the founder and Executive Vice president of Netsure Hlg, a pioneer electronic payment software solution provider in Africa. Amadou graduated from the University of Pennsylvania / Wharton School and The Anderson School of Management / University of California /Los Angeles (UCLA). SG, Executive Board Member, Ivorian, 43 years years of experience in renowned financial institutions (Citibank, Banque Atlantique, Teyliom Group). She was a member at the Board meeting of Citibank Senegal and CI, Chairman of Audit committee Citibank CI. Top management level in several positions : management, legal, compliance HR, Corporate Governance. Aicha has a post graduated degree in Business Law / tax and also completed an Executive MBA from HEC Paris. Adama Sene CISSE David LACOFFRETTE David WANG COO Executive Director Wari Europe Executive Director Wari Asia COO, Senegalese. 27 years of experience in Auditing, Finance, IT, Banking, Remittance. Adama started her career with EY with strong foundation in auditing, finance, risk, IT, consulting and leading teams. She further held top management position at banks such as Citibank, Ecobank including Managing Director. She recently was hired as COO Group at WARI. Executive Director Wari Europe, , and in charge of acquisitions, equity investments and major partnerships for the Wari group. He has worked for renowned companies such as Imprimerie Nationale, Moneo payment solution, Northrop Grumman, Atos, Capgemini and served in the Marine Nationale. David graduated from EGE – ESLSCA (Master in strategic management and business intelligence), Navale School and College Inter Defense Army Executive Director Wari Asia, David has worked for renowned companies such as Blue Bamboo Transaction Systems and Centron Electronics. He is now in charge of supply chain, IT system and R&D at Wari Asia. David graduated from Huangshan University. Source Company information Note 1 The holding managers team is currently being reinforced 11

22 HOLDING C SUITE LEVEL STAFF
Chief Marketing, Sales and Revenue Officer (to be hired) Chief Finance Officer ( Hired) Chief Technology and Information Officer ( to be hired) Chief Human Ressources Officer (to be hired) Group Head Corporate Communication and Public Affairs Group Head Projects External Audit


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