Econet wireless Zimbawe Limited: Building the future

In February 2015, when Econet Wireless Zimbabwe Limited, EWZL, the market leader of the telecommunications sector in Zimbabwe, published the financial results, the management team was worried about the shareholders’ reaction. With over 60% market share in its core business (the voice and SMS market), it has achieved remarkable results due to the great diversification strategy. However, the share price was continuously falling due to exogenous factors that were pressuring margins and threatening future sustainability of the company. EWZL was highly exposed to Zimbabwe’s specific risks and regulatory policies. This case explores both the business environment surrounding the company and the strategic decisions necessary to fight against the economic and political challenges. Students will step into Econet’s obstacles by analyzing the strategies and diagnosing the multiple risk factors affecting the profitability of the firm. Furthermore, they will have to compute the valuation of the firm, facing several challenges of a developing country.

Dangote Cement Plc building materials

Equity research report

Sonae MC: The road model of Kaizen

Sonae MC is considered the first success case of Kaizen in the retail industry. Before becoming a true role model for so many companies, there was a long road to walk. However, it may still be hard to understand the steps taken on the way. How could a training program develop into an integral continuous improvement system, and how did it affect the company – its people, culture, operations and strategy? How was it possible to get everyone on board? How could it be sustained until today, when Kaizen usually fails in the West? What were the critical factors for success?

On project finance and the first road concession in Portugal

In broad sense, Project Financing1 as a mean of financing large scale infrastructural projects worldwide has had a steady growth in popularity for the last 20 years. This growth has been relatively unscathed from most economic cycles. However in the wake of the 2007 systemic Financial Crisis, Project Financing was also in trouble. The liquidity freeze and credit crunch that ensued affected all parties involved. Traditional Lenders, of this type of financial instrument, locked-in long-term contractual obligations, were severely hit with scarcity of funding compounded by rapidly increasing cost of funding. All the while, Banks were “rescued” by the concerted actions of Central Banks and other Multi-Lateral Agencies around the world but at the same time “stressed” by upcoming regulatory effort (Basel Committee). This impact resulted in specific changes to this type of long-term financing. Changes such as Commercial Banks’ increased risk aversion; pricing increase and maturities decrease of credit facilities; enforcement of Market Disruption Event clauses; partial responsibility for project risk by Multilateral Agencies; and adoption of utility-like availability payments in other industrial sectors such as transportation and even social infrastructure. To the extent possible, this report is then divided in three parts. First, it begins with a more instructional part, touching academic literature (theory) and giving the Banks perspective (practice), but mostly as an overview of Project Finance for awareness’ sake. The renowned Harvard Business School professor – Benjamin Esty, states2 that Project Finance is a “relatively unexplored territory for both empirical and theoretical research” which means that academic research efforts are lagging the practice of Project Finance. Second, the report presents a practical case regarding the first Road Concession in Portugal in 1998 ending with the lessons learned 10 years after Financial Close. Lastly, the report concludes with the analysis of the current trends and changes to the industry post Financial Crisis of the late 2000’s. To achieve this I’ll reference relevant papers, books on the subject, online articles and my own experience in the Project Finance Department at a major Portuguese Investment Bank. Regarding the latter, with the signing of a confidentiality agreement, I’m duly omitting sensitive and proprietary bank information.

Understanding impact readiness in Portugal’s social sector and designing a framework for capacity-building for social impact

This project is based on the theme of capacity-building in social organisations to improve their impact readiness, which is the predictability of delivering intended outcomes. All organisations which have a social mission, non-profit or for-profit, will be considered to fall within the social sector for the purpose of this work. The thesis will look at (i) what is impact readiness and what are the considerations for building impact readiness in social organisations, (ii) what is the international benchmark in measuring and building impact readiness, (iii) understand the impact readiness of Portuguese social organisations and the supply of capacity building for social impact in Portugal currently, and (iv) provide recommendations on the design of a framework for capacity building for impact readiness adapted to the Portuguese context. This work is of particular relevance to the Social Investment Laboratory, which is a sponsor of this project, in its policy work as part of the Portuguese Social Investment Taskforce (the “Taskforce”). This in turn will inform its contribution to the set-up of Portugal Inovação Social, a wholesaler catalyst entity of social innovation and social investment in the country, launched in early 2015. Whilst the output of this work will be set a recommendations for wider application for capacity-building programmes in Portugal, Portugal Inovação Social will also clearly have a role in coordinating the efforts of market players – foundations, corporations, public sector and social organisations – in implementing these recommendations. In addition, the findings of this report could have relevance to other countries seeking to design capacity building frameworks in their local markets and to any impact-driven organisations with an interest in enhancing the delivery of impact within their work.

Cell encapsulated hydrogel microspheres as "building blocks" for producing 3D constructs

Cell encapsulation within hydrogel microspheres shows great promise in the field of tissue engineering and regenerative medicine (TERM). However, the assembling of microspheres as building blocks to produce complex tissues is a hard task because of their inability to place along length scales in space. We propose a proof-of-concept strategy to produce 3D constructs using cell encapsulated as building blocks by perfusion based LbL technique. This technique exploits the â bindingâ potential of multilayers apart from coating

Detection of road accident accumulation zones with a visual analytics approach

Nowadays, road accidents are a major public health problem, which increase is forecasted if road safety is not treated properly, dying about 1.2 million people every year around the globe. In 2012, Portugal recorded 573 fatalities in road accidents, on site, revealing the largest decreasing of the European Union for 2011, along with Denmark. Beyond the impact caused by fatalities, it was calculated that the economic and social costs of road accidents weighted about 1.17% of the Portuguese gross domestic product in 2010. Visual Analytics allows the combination of data analysis techniques with interactive visualizations, which facilitates the process of knowledge discovery in sets of large and complex data, while the Geovisual Analytics facilitates the exploration of space-time data through maps with different variables and parameters that are under analysis. In Portugal, the identification of road accident accumulation zones, in this work named black spots, has been restricted to annual fixed windows. In this work, it is presented a dynamic approach based on Visual Analytics techniques that is able to identify the displacement of black spots on sliding windows of 12 months. Moreover, with the use of different parameterizations in the formula usually used to detect black spots, it is possible to identify zones that are almost becoming black spots. Through the proposed visualizations, the study and identification of countermeasures to this social and economic problem can gain new grounds and thus the decision- making process is supported and improved.

Development of benchmarks for operating costs and resources consumption to be used in healthcare building sustainability assessment methods

Since the last decade of the twentieth century, the healthcare industry is paying attention to the environmental impact of their buildings and therefore new regulations, policy goals and Buildings Sustainability Assessment (HBSA) methods are being developed and implemented. At the present, healthcare is one of the most regulated industries and it is also one of the largest consumers of energy per net floor area. To assess the sustainability of healthcare buildings it is necessary to establish a set of benchmarks related with their life-cycle performance. They are both essential to rate the sustainability of a project and to support designers and other stakeholders in the process of designing and operating a sustainable building, by allowing the comparison to be made between a project and the conventional and best market practices. This research is focused on the methodology to set the benchmarks for resources consumption, waste production, operation costs and potential environmental impacts related to the operational phase of healthcare buildings. It aims at contributing to the reduction of the subjectivity found in the definition of the benchmarks used in Building Sustainability Assessment (BSA) methods, and it is applied in the Portuguese context. These benchmarks will be used in the development of a Portuguese HBSA method.

Assessing the feasibility of impregnating phase change materials in lightweight aggregate for development of thermal energy storage systems

This paper assesses the feasibility of impregnation/encasement of phase change materials (PCMs) in lightweight aggregates (LWAs). An impregnation process was adopted to carry out the encasement study of two different PCMs in four different LWAs. The leakage of the impregnated/encased PCMs was studied when they were submitted to freeze/thawing and oven drying tests, separately. The results confirmed that, the impregnation/encasement method is effective with respect to the large thermal energy storage density, and can be suitable for applications were PCMs cannot be incorporated directly such as asphalt road pavements.

Toxicity measurement techniques for building materials with wastes

The innovative Horizon 2020 program sponsored by the European Union (EU) aims to promote and develop processes of waste integration in construction materials. However, several potential health hazards caused by building materials have been identified and, there-fore, there is an ongoing need to develop new recycling methods for hazardous wastes and effi-cient barriers in order to prevent toxic releases from the new construction solutions with wastes. This paper presents an overview that focus on two main aspects: the identification of the health risks related to radioactivity and heavy metals present in building materials and identification of these toxic substances in new construction solutions that contain recycled wastes. Different waste materials were selected and distinct methodologies of toxicity evaluation are presented to analyse the potential hazardous, the feasibility of using those wastes and the achievement of op-timal construction solutions involving wastes.

Safety classification using GIS in decision-making process to define priority road interventions

Given the current economic situation of the Portuguese municipalities, it is necessary to identify the priority investments in order to achieve a more efficient financial management. The classification of the road network of the municipality according to the occurrence of traffic accidents is fundamental to set priorities for road interventions. This paper presents a model for road network classification based on traffic accidents integrated in a geographic information system. Its practical application was developed through a case study in the municipality of Barcelos. An equation was defined to obtain a road safety index through the combination of the following indicators: severity, property damage only and accident costs. In addition to the road network classification, the application of the model allows to analyze the spatial coverage of accidents in order to determine the centrality and dispersion of the locations with the highest incidence of road accidents. This analysis can be further refined according to the nature of the accidents namely in collision, runoff and pedestrian crashes.

HLT Hilotec: self-building manual for sustainable housing

The future of the construction industry will require changes at many levels. One is the ability of companies to adapt to new challenges, converting needs to opportunities and simultaneously contributing to the solving of social and environmental problems. In the coming decades we will see a change in attitude in the industry, with a strong tendency to adopt natural and recycled materials, as well as bet on green technology and social innovation oriented to emerging countries. On the other hand, emerging countries have a high demand for housing construction on a large scale, but the current techniques in the developed countries for building requires a large amount of natural resources and skilled labor. This contextualization brings sustainability problems for the construction sector in emerging countries, often with scarce natural resources and with the construction sector underdeveloped. Through a cooperative action between the construction company Mota-Engil Engineering and the University of Minho in Portugal, a construction technology was developed based on the use of Compressed Earth Blocks as part of a social concept for innovative small houses, favoring the adoption of local and natural materials and with the main premise of being dedicated to self-construction. The HiLoTec project - Development of a Sustainable Self-Construction System for Developing Countries was based on this idea. One of the several results of this project is this construction manual. To Mota-Engil the project was a platform for incubation of knowledge about earth construction and to obtain a constructive solution validated technically and scientifically, suitable to be implemented in the markets where it operates. For the University of Minho the project was an opportunity to strengthen skills in research, laboratory and scientific development, through the development of engineering studies, architecture and sustainability, as well as supporting the doctoral scholarships and dissemination of scientific publications. May the knowledge of this project be of benefit, in the future, for the welfare of those who build a HiLoTec house.

Contribution of portuguese vernacular building strategies to indoor thermal comfort and occupants’ perception

Solar passive strategies that have been developed in vernacular architecture from different regions are a response to specific climate effects. These strategies are usually simple, low-tech and have low potential environmental impact. For this reason, several studies highlight them as having potential to reduce the demands of non-renewable energy for buildings operation. In this paper, the climatic contrast between northern and southern parts of mainland Portugal is presented, namely the regions of Beira Alta and Alentejo. Additionally, it discusses the contribution of different climate-responsive strategies developed in vernacular architecture from both regions to assure thermal comfort conditions. In Beira Alta, the use of glazed balconies as a strategy to capture solar gains is usual, while in Alentejo the focus is on passive cooling strategies. To understand the effectiveness of these strategies, thermal performances and comfort conditions of two case studies were evaluated based on the adaptive comfort model. Field tests included measurement of hygrothermal parameters and surveys on occupants’ thermal sensation. From the results, it has been found that the case studies have shown a good thermal performance by passive means alone and that the occupants feel comfortable, except during winter where there is the need to use simple heating systems.

Ancient materials and techniques to improve the earthen building durability

A substantial part of the world building heritage has been performed by earthen building. The durability of this existing heritage and mainly of the new buildings built with earth is particularly conditioned by the erosion caused by water action, especially in countries with high levels of rainfall. This research aims to contribute to the increase of knowledge about the ancient building techniques that provide enhanced durability. It is possible to analyse the ancestral practices used to protect the earth material from the water action in order to understand how the old earthen buildings were preserved over the centuries, resisting to harsh weather conditions. Among these techniques are: the incorporation of biopolymers (such as oils or fats from animal or vegetable origin); the addition of some minerals; and the earth stabilization with lime. However, this knowledge seems to be forgotten, probably due to the prejudice related to earthen constructions, which several times are associated with a poor building. This research also focuses on the study of new methods of earth stabilization with lime and biopolymers, adapting the ancient knowledge to improve the durability related to the water action. Therefore, alternative solutions can be obtained to improve the performance of earthen buildings, mainly the resistance of the material in the presence of water, reducing its permeability to water. In addition, with the proposed solutions it is possible to obtain good levels of water vapour permeability, one of the major advantages of the construction with earth.