Broad Capital Advisory
Working papers and essays on how capital actually gets committed — what a credit committee can hold, what it discounts, and why the fix a sponsor reaches for is so often the wrong one.
The Three Questions · Part 1 of 3
The costliest failures in African corporate finance are not bad projects. They are good projects attached to sponsors who were not ready — taken to market too soon.
The three questions a capital raise has to answer, in the order a lender asks them.
Part 1 of 3
The costliest failures in African corporate finance are not bad projects. They are good projects attached to sponsors who were not ready — taken to market too soon.
Part 2 of 3
Bankability is not a property a project has. It is a case you make — to a named investor, at definable terms, under a credible downside.
Part 3 of 3
Diagnosis, fundability and execution are not three services bought à la carte. They are one sequence, run in a fixed order, with gates that refuse to let a deal skip ahead.
Thought experiments examining how capital actually gets committed. Each paper isolates one mechanism, tests it against primary sources, and states what follows for a sponsor.
Working Paper 01 · Bankability & Readiness
Sponsors spend months chasing a stronger name and a signature. The lender was never pricing either one.
Working Paper 02 · Bankability & Readiness
Sponsors spend months making their own documents better. Nothing you do to a document you wrote can change what it is worth to the person deciding whether to fund you.
Working Paper 03 · Model Integrity
Your model survived a twenty per cent price fall. That tells your lender almost nothing — and it may be why the debt came back smaller than you asked for.
Working Paper 04 · Practice Economics
Declining work looks like revenue forgone. It is actually the mechanism that decides what walks through your door next quarter.
Three archetypal mindsets for deploying capital — and the cost of running the wrong one for your stage.
Part 1 of 3
Most firms treat capital allocation as a single discipline. The best treat it as three — and know which one they are running.
Part 2 of 3
Misallocation is rarely a bad decision. It is usually the right mindset applied at the wrong point in a company's life.
Part 3 of 3
A single business can change mindset as it matures. A group has to hold several at the same time — without letting one contaminate the others.
Nothing in that series yet.
