Simulation-based valuation of project finance investments in sub-Saharan Africa and its effects on net present value and default probabilities
dc.contributor.advisor | Biekpe, Nicholas | en_ZA |
dc.contributor.author | De Villiers, Johan | en_ZA |
dc.date.accessioned | 2018-11-02T09:31:27Z | |
dc.date.available | 2018-11-02T09:31:27Z | |
dc.date.issued | 2015 | en_ZA |
dc.description.abstract | This paper addresses the issue surrounding the valuation of valuing large-scale infrastructure projects located in emerging and frontier market countries. These are economies which, traditionally, have been characterised as having high levels of risk and uncertainty, thus presenting a significant challenge to capital allocation decisions and the associated theme of narrowing the finance gap. In light of this, a case study is used to investigate the impact that simulation has on the valuation of an actual infrastructure project located in a sub-Saharan African economy. Specifically, a Monte Carlo simulation-based cash flow model is presented of an investment into a renewable energy project located in South Africa. Results of the simulation process indicate the degree to which certain variables affect the output factors, juxtaposed with an initial base case. A clear need is established for a more sophisticated valuation method in order to accurately judge the investment opportunity and Monte Carlo simulation is presented as a viable solution. | en_ZA |
dc.identifier.apacitation | De Villiers, J. (2015). <i>Simulation-based valuation of project finance investments in sub-Saharan Africa and its effects on net present value and default probabilities</i>. (Thesis). University of Cape Town ,Faculty of Commerce ,Research of GSB. Retrieved from http://hdl.handle.net/11427/28974 | en_ZA |
dc.identifier.chicagocitation | De Villiers, Johan. <i>"Simulation-based valuation of project finance investments in sub-Saharan Africa and its effects on net present value and default probabilities."</i> Thesis., University of Cape Town ,Faculty of Commerce ,Research of GSB, 2015. http://hdl.handle.net/11427/28974 | en_ZA |
dc.identifier.citation | De Villiers, J. 2015. Simulation-based valuation of project finance investments in sub-Saharan Africa and its effects on net present value and default probabilities. University of Cape Town. | en_ZA |
dc.identifier.ris | TY - Thesis / Dissertation AU - De Villiers, Johan AB - This paper addresses the issue surrounding the valuation of valuing large-scale infrastructure projects located in emerging and frontier market countries. These are economies which, traditionally, have been characterised as having high levels of risk and uncertainty, thus presenting a significant challenge to capital allocation decisions and the associated theme of narrowing the finance gap. In light of this, a case study is used to investigate the impact that simulation has on the valuation of an actual infrastructure project located in a sub-Saharan African economy. Specifically, a Monte Carlo simulation-based cash flow model is presented of an investment into a renewable energy project located in South Africa. Results of the simulation process indicate the degree to which certain variables affect the output factors, juxtaposed with an initial base case. A clear need is established for a more sophisticated valuation method in order to accurately judge the investment opportunity and Monte Carlo simulation is presented as a viable solution. DA - 2015 DB - OpenUCT DP - University of Cape Town LK - https://open.uct.ac.za PB - University of Cape Town PY - 2015 T1 - Simulation-based valuation of project finance investments in sub-Saharan Africa and its effects on net present value and default probabilities TI - Simulation-based valuation of project finance investments in sub-Saharan Africa and its effects on net present value and default probabilities UR - http://hdl.handle.net/11427/28974 ER - | en_ZA |
dc.identifier.uri | http://hdl.handle.net/11427/28974 | |
dc.identifier.vancouvercitation | De Villiers J. Simulation-based valuation of project finance investments in sub-Saharan Africa and its effects on net present value and default probabilities. [Thesis]. University of Cape Town ,Faculty of Commerce ,Research of GSB, 2015 [cited yyyy month dd]. Available from: http://hdl.handle.net/11427/28974 | en_ZA |
dc.language.iso | eng | en_ZA |
dc.publisher.department | Research of GSB | en_ZA |
dc.publisher.faculty | Faculty of Commerce | en_ZA |
dc.publisher.institution | University of Cape Town | |
dc.subject.other | Development Finance | en_ZA |
dc.title | Simulation-based valuation of project finance investments in sub-Saharan Africa and its effects on net present value and default probabilities | en_ZA |
dc.type | Master Thesis | |
dc.type.qualificationlevel | Masters | |
dc.type.qualificationname | MCom | en_ZA |
uct.type.filetype | Text | |
uct.type.filetype | Image | |
uct.type.publication | Research | en_ZA |
uct.type.resource | Thesis | en_ZA |
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