Bankability of a public private partnership in agricultural sector: A project in sub Saharan Africa

A public private partnership can be an effective approach to deal the projects with modern agricultural development in Sub Saharan Africa. A former financial analysis of a development project, carried out by the authors, showed that public and private partners can effectively join in a mutually satisfactory venture capital. The same project is now complemented with a bankability study, considering lenders options, equity allocation, collaterals and likely applicable interest rates, available cash flow and sustainable debt service repayment to provide a through financing scenario for each partner’s perspective assessing the relevant Debt Service and Loan Life Cover Ratios. Cash flow and interest rates fluctuation impacts are eventually investigated with a sensitivity analysis to prove the robustness of the proposed scenario

Financial sustainability of a public-private partnership for an agricultural development project in Sub-Saharan Africa

Land, water, sun, infrastructure, capital and know-how are needed for any agricultural development. Sub-Saharan Africa has immense natural resources, though often not immediately available altogether in the same place, but is generally short of the other inputs. That is why a public-private partnership can be an effective approach to deal the projects with modern agricultural development: public partner provides land, most of the infrastructure and finance; private partners provide the intensive farming practice, processing know-how and part of the equity. Financial analysis of lower and higher capital demanding scenarios and testing of the impact of changes in the critical drivers of costs and revenues shown that a combination of staple crops and cash crops can be found to balance national food security policy targets and financial appeal for private partners in a mutually satisfactory venture capital. The effect of environmental and infrastructural constraints was also considered, showing how likely-to-happen threats on the side of the implementation of the project may turn into challenging opportunity to climb the agribusiness value chain upward

New project financing and eco-efficiency models for investment sustainability

In the paper, we introduce the Special Issue entitled “New Project Financing and EcoEfficiency Models for Investment Sustainability”, and later present the form and contents of the thematic issue

Light emitting diodes technology in public light system of the municipality of Rome: an economic and financial analysis

This study evaluates an investment project concerning the redevelopment of the public lighting of the Municipality of Rome. In particular, we consider the replacing of the traditional lamps of the system with light emitting diodes lamps. We consider the factors that affect this kind of project: The cost of energy, the manteinance cost, the investment cost and the weighted average cost of capital. Our results underline the reduction of energy consumption and of the maintenance costs, lower emissions of CO2 into the atmosphere, the reduction of light pollution, the positive effects on road safety and the indipendence by incentives

An innovative model for the sustainability of investments in the wind energy sector: the use of green sukuk in an Italian case study

In this paper we present the technical-energy-economic feasibility of wind power systems. An Italian 1 megawatt case study was considered to evaluate the importance of incentives in order to achieve the grid parity. Due to the severe reduction of incentives in the last years, in the present work we propose the use of Sukuk, a Shari’ah-compliant instrument used in the Islamic finance, as an alternative financial instrument used to limit the extent of leverage associated with financing. The building cost thresholds necessary to achieve the grid parity and a profitable and bankable project are presented with a sensitivity analysis. In the framework of the efforts against climate change and the emission of greenhouse gas, our results evidenced the importance of incentives and the applicability of the use of Shari’ah-compliant sukuk instruments in order to provide a feasible and sustainable investment in the wind energy sector

Shari'ah-compliant finance: a possible novel paradigm for green economy investments in Italy

In Italy, the dramatic reduction of government incentives has caused a decrease of investments in the renewable energy sector. For this reason, it is necessary to rethink funding techniques, extending the analysis to different cultural and financial models. In this paper, we study the incentive-dependency of an Italian case study in the wind energy sector in order to reach grid parity, comparing the obtained results with those of Islamic finance and conventional finance. In particular, we propose that Sukuk Islamic finance instruments be used for the realization of real assets in Shari'ah-compliant finance that prohibits interest rates, as in conventional financial markets, and we present the building cost thresholds necessary to achieve grid parity. Our results highlight the importance of incentives and the applicability of the use of Sukuk instruments for sustainable investments in the wind energy sector, which is crucial in the framework of current efforts against climate change as well as efforts to reduce greenhouse gas emissions

Small satellites constellations and their impact on CBRNe management in Africa

A wave of small satellites massive constellations, in the range of hundreds of units each, is progressively populating the Low Earth Orbit (LEO) with a low-price, and varied, offer of Telecom (speed band) and Earth Imaging services (Starlink, Planet, One Web, etc.). It is a market - driven trend based on new satellite interlocking technologies, which cut down the supplier costs of launch and in orbit operations compared to the traditional technology based on big (and much heavier) geostationary satellites operating at high altitudes. This is a disruptive phenomenon especially for the developing world, where such vital services have always been hard to access, and their use therefore remained scarce, not consolidated, or even completely missing. Among these, Emergency management is definitely crucial. The geographical focus of this study is Africa and it deals not only with Institutional PRS users but with a wider potential context (corporations, private subjects, etc.). It clearly appears that a general degree of “Country readiness” toward Space technology and organization is necessary for these initiatives to take place. This can be achieved through certified international cooperation. The authors then, based on an estimated demand Model for services with their relative pricing corresponding to a cost-designed constellation of small micro-satellites, presented already, among other, at several International Astronautical Federation (IAF) Simposia on Space Economy, simulate the resulting type of services available: TLC by band types and relative upload and download rates, Earth imaging by refresh rates and optical quality and resolution, Ground segment configuration for signal back-hauling and user terminal receiving. This info is applied to a specific African Country case (Nigeria) whose significance emerged over other Countries after the application of comparative grids. Finally, an insight on the specifically configuration of services for CBRNe like management by local users, both maritime and land, with the relative costs, is offered. This is consequently left open for follow ups and discussion, due to the customer – design, project financing approaches of this Model programme

Healthcare digitalization and pay-for-performance incentives in smart hospital project financing

This study aims to explore the impact of healthcare digitalization on smart hospital project financing (PF) fostered by pay-for-performance (P4P) incentives. Digital platforms are a technology-enabled business model that facilitates exchanges between interacting agents. They represent a bridging link among disconnected nodes, improving the scalable value of networks. Application to healthcare public-private partnerships (PPPs) is significant due to the consistency of digital platforms with health issues and the complexity of the stakeholder’s interaction. In infrastructural PPPs, public and private players cooperate, usually following PF patterns. This relationship is complemented by digitized supply chains and is increasingly patient-centric. This paper reviews the literature, analyzes some supply chain bottlenecks, addresses solutions concerning the networking effects of platforms to improve PPP interactions, and investigates the cost-benefit analysis of digital health with an empirical case. Whereas diagnostic or infrastructural technology is an expensive investment with long-term payback, leapfrogging digital applications reduce contingent costs. “Digital” savings can be shared by key stakeholders with P4P schemes, incentivizing value co-creation patterns. Efficient sharing may apply network theory to a comprehensive PPP ecosystem where stakeholding nodes are digitally connected. This innovative approach improves stakeholder relationships, which are re-engineered around digital platforms that enhance patient-centered satisfaction and sustainability. Digital technologies are useful even for infectious disease surveillance, like that of the coronavirus pandemic, for supporting massive healthcare intervention, decongesting hospitals, and providing timely big data

Evaluating climate between working excellence and organizational innovation: What comes first?

This research introduces a new concept of organizational climate, seen as a "mediator", namely a factor liable to produce positive eects on both individual performances and on work processes and relations, thereby creating a favorable relationship between work excellence and organizational innovation. Health systems have been called to promote sustainability, as actors who work for the health and well-being of their patients. Starting from these considerations, this work shows the main results of a longitudinal study conducted in the pediatric department of a large hospital in southern Italy, for a period of three years (May 2014-May 2017). The reference survey was very broad because in the first step of the research a general questionnaire was adopted which included various aspects. Subsequently, the analysis of the influence of the "climate" factor was carried out according to a 3-dimensional scheme: structural, interpersonal/relational and individual. The focus was therefore set - especially in the second survey - on those indicators responding to the objective of the research and that were consistent with the epistemological choice made. The main scope was to verify the conditions according to which the organizational climate can emerge as a novel factor capable of siding with and orienting innovative patient-centered policies of human resources management

The strategic role of the corporate social responsibility and circular economy in the cosmetic industry

In the literature, circular economy (CE) and corporate social responsibility (CSR) are increasingly interconnected concepts. Turon at al. (2016) consider CE the guidelines of conduct for designing and developing good CSR strategies. In particular, the corporate management philosophy needs to be translated into mandatory CSR reports that better frames circular economy objectives by identifying and communicating actions to achieve sustainable development goals. The purpose of this paper is to explore a number of CSR reports in order to understand if cosmetic multinationals' (MNC) nonfinancial reporting is focused on the concept of circular economy and if CSR reports ensure an adequate level of disclosure to circular strategies. Moreover, the paper highlights the advantages that arise by converging the concepts of CSR and CE. The originality of this paper lies on providing evidence on "how" MNC are implementing a circular model. This paper contributes to our understanding on the relation between CSR and CE; it assesses the state of the art of circular strategies in MNC and proposes a consolidation of the concept of CE in terms of sustainable strategic and managerial practices communicated to the market by CSR reports. Moreover, it brings MNC to a better understanding of the ways to communicate their new circular business model. The analysis reveals a good level of attention by MNC to circularity in drafting their CSR reports that in many cases are able to describe objectives and actions that embrace multiple dimensions