Avis d’appel à manifestation d’intérêt pour le recrutement d’un Conseiller en matière de portefeuille et de transactions pour Ethiopia Investment Holdings (EIH), Ethiopie
REQUEST FOR EXPRESSIONS OF INTEREST
(INDIVIDUAL CONSULTANT)
Financial Sector Development Department (PIFD)
Ethiopia Country Office (COET)
Title of the assignment: PORTFOLIO AND TRANSACTION ADVISOR FOR THE ETHIOPIA INVESTMENT HOLDINGS (EIH).
Brief description of the Assignment: The Portfolio and Transaction Advisor will provide technical input for the assessment and analysis of EIH portfolio of investments and will be responsible for developing and analysing potential feasible investments (including project design and appraisal).
Department issuing the request: Financial Sector Development Department (PIFD)
Place of assignment: Addis Ababa, Ethiopia
Duration of the assignment: Six (6) months assignment
Tentative Date of commencement: 15 December 2022
Deadline for applications: 10 November 2022 at 17:00 GMT
Applications to be submitted to Akin ADIGUN, A.ADIGUN@AFDB.ORG , ABDOUL AZIZ BA A.Z.BA@AFDB.ORG & Admit ZERIHUN A.ZERIHUN@AFDB.ORG
Any questions and requests for clarifications may be sent to Akin ADIGUN,
A.ADIGUN@AFDB.ORG , ABDOUL AZIZ BA A.Z.BA@AFDB.ORG & Admit ZERIHUN A.ZERIHUN@AFDB.ORG
Terms of Reference
Background
The African Development Bank (“AfDB” or “the Bank”) is the premier pan-African development institution, promoting economic growth and social progress across the continent. There are 80 member states, including 54 in Africa (Regional Member Countries or RMC). The Bank’s development agenda is delivering financial and technical support for transformative projects that will significantly reduce poverty through inclusive and sustainable economic growth. In order to sharply focus the objectives of the Ten-Year Strategy (2013 – 2022) and ensure greater developmental impact, five major areas, all of which will accelerate the Bank’s delivery for Africa, have been identified for scaling up, namely, Light up and Power Africa, Feed Africa, Industrialise Africa, Integrate Africa and Improve the quality of life for the people of Africa.
The Vice Presidency for Private Sector, Infrastructure and Industrialization (“PIVP” or “the Complex”) is central to the Bank’s mission of developing the private sector, improving infrastructure and accelerating industrialization. The role of the Bank’s Financial Sector Development department is to facilitate financial institutions’ access to investment and working capital, contribute to developing local capital markets and help reduce the trade finance gap on the continent.
Ethiopian Investment Holdings (EIH) is a new holding company set up in 2022 by the Government of Ethiopia’s Council of Ministers Regulation No. 487/2022. EIH is the strategic investment arm of the Government of Ethiopia and represents the country’s long-term commercial and investment interests in flagship enterprises such as Ethiopian Airlines and Ethio Telecom. EIH’s mandate is to unlock the value of government’s assets through commercial management and optimising the performance of public assets to attract sizable investment and partnership with global investors.
The main duties and responsibilities of EIH include:
- Operating and carrying on the business of a holding company as per the Ethiopian commercial code.
- Holding shares, debentures, bonds and securities which are in its ownership.
- Investing in any business and investment opportunities as it sees profitable.
- Taking part in capital market, money market and other similar sectors through purchase, sell or other investment undertakings.
- Taking over and managing state-owned assets that may be assigned to it.
- Transforming property of state-owned enterprises and other assets transferred to it into optimal income generating ventures, though structure and system change.
- Establishing or promoting a new company or companies for the purpose of acquiring or undertaking all or any of the assets and liabilities of said companies.
Objectives
The main objective of EIH is contributing to sustainable economic development, through professional management of its funds and assets achieving the optimal use of thereof in accordance with international best practices and corporate governance principles, and to maximize the value for the benefit of current and future generations. Its other objective is providing a strategic vehicle to attract foreign investment by, among others, establishing a co-investment platform, consolidating assets for further monetisation, unlocking values from current unutilised assets and thereby bring the highest possible return on investment.
EIH plans to attract investments in various assets of the government, which have strategic importance and are currently underutilized. These assets may include real estate, infrastructure, and other physical and intangible assets. EIH will also consider various forms of co-investment partnership scheme. Having a professional and transaction advisor will enhance accurate scoping of EIH portfolio and support the developmental appraisal to enhance the bankability of existing and new investment projects, thereby improving the likelihood of reaching successful, binding agreements with investors.
EIH is looking to engage a Portfolio and Transaction Advisor who will provide technical input for the assessment and analysis of EIH portfolio of investments and will be responsible for developing and analysing potential feasible investments (including project design and appraisal).
Role Description
The role of the Portfolio and Transaction Advisor (“Advisor” or “Consultant”) is to advise EIH on all aspects of portfolio assessment, portfolio analysis and potential feasible investments including the planning and development of projects to assist EIH in making informed choices about investments. In the case of real estate projects, this may include issues such as potential of the location, development modalities and transport options. The Consultant will also provide advisory to improve the management and commercial earnings of assets and attract investments from other sources in line with the implementation of Ethiopia’s Ten-Year Development Plan (Prosperity Plan) for the achievement of inclusive growth and holistic improvement in the life of citizens. Where a range of complex economic, social, and environmental factors are considered and critical information required for investment decisions, the Advisor is expected to undertake careful technical and financial considerations with the following specific tasks:
- Contribution towards prefeasibility and feasibility studies:
- Assess asset use requirements guided by technical and regulatory considerations.
- Develop concept notes and prepare options that would inform the earliest planning stages of development while considering the needs of the various co-investors of the project.
- Detail selected concept projects, make preliminary estimates and forecast the cost of the project taking cognisance that the development cost of the project forms a key element of the financial analysis.
- Project analysis including developing a brief with the partner:
- Review the scope of work, establish procedures, scheduled and responsibility matrix for existing investment and each new development.
- Review alignment with regulations as well as international good practices.
- Analyse the project’s risk profile during the planning process.
- Develop the functional requirements and decide with EIH team the appropriate form of design and procurement approaches.
- Review the developers’ budget (for real estate and related projects) against the proposed design brief for the purpose of financial appraisal.
- Provide a report for each development consisting of clear project outcomes, quality aspirations, sustainability outcomes, site appraisal, project budget, project risks and other parameters and constraints.
- Build concepts and guidance documents for project development:
- Based on the brief and initial concept, develop detailed technical guidance documents to aid EIH decision making regarding existing and potential investments. The concept note will also be shared to potential project designers and consultants in the design tender document of specific projects.
- Provide development advisory:
- Evaluate the size, complexity and risk tolerance of project development process and accordingly advise partners on the appropriate procurement method for development services such as contractors of real estate projects.
- Establish frameworks and procedures to monitor and review the preliminary and technical design process for new projects and advise partners on how to establish project quality management procedures, review and approve designs in accordance with the design brief and outlined project objectives.
- Provide policy and regulatory advice
- Analyse the policies and regulations of the regulators and provide advice on how regulators need to deliberate for the integration of the EIH proposed project(s) with the respective sector policies.
- Facilitate discussions and negotiations with regulators for potential amendments with respect to consent and permits for proposed investments / developments.
- Management Advisory
- Advise on strategies to mitigate investment risk in EIH portfolio.
- Support EIH oversight and monitoring of the performance of public assets in order to maximise the value of the assets for current and future generations.
- Contribute to sustainable economic development by advising on modern management practices and corporate governance standards to enhance shareholder interests in public assets.
Qualifications, skills and experience required
Essential skills required are:
- Excellent analytical and quantitative / numerical skills.
- Effective communication and inter-personal skills including negotiating, networking and presentation.
- Effective written communication and report-writing ability
- experience in project/portfolio management is areas including telecoms, financial services, energy, urban planning, urban and architectural design and building construction sectors or commercial farming, irrigation schemes, etc.
- Strong familiarity in legal framework, policies and procedures of real estate and/or infrastructure
- A combination of creative and analytic skills.
- Transverse skills of analysis through macro and micro level issues such as hard currency matters
- A creative and innovative approach with an aptitude for problem solving and stakeholder engagement.
- The ability to conduct development appraisals – especially financial viability – thoroughly and convincingly.
- Good commercial awareness and understanding of the financial and real sector.
- Good knowledge of concept design, project specification and contracting in line with policy requirement especially in infrastructure and real estate.
- A sense of ethical responsibility.
Experience
- A minimum of 10 years’ experience of applying organizational strategy and performance management techniques in the public or private sector.
- Demonstrable experience in preparing and managing investment project appraisals, negotiation and deals closing.
- A strong record of delivering large scale projects with evidence of strategic thinking and problem solving.
- Previous work experience in private investment and/or public sector.
Qualifications
A Master’s degree or its equivalent in Engineering, Architecture, Economics, Business Administration, Public Administration or Statistics.
Reference
The bidder is requested to quote the DACON reference number when submitting bids.
Application Process
Interested consultants are invited to apply by submitting the following application documents:
- Resume/Curriculum Vitae (CV);
- Cover letter outlining how your experience, skills, qualifications, and professional networks fit with the required deliverables (one page maximum).
Expressions of interest must be submitted to: Akin ADIGUN, A.ADIGUN@AFDB.ORG , ABDOUL AZIZ BA A.Z.BA@AFDB.ORG & Admit ZERIHUN A.ZERIHUN@AFDB.ORG and must be received no later than 10 November 2022 at 17:00 GMT, specifically mentioning the title: EOI: PORTFOLIO AND TRANSACTION ADVISOR FOR THE ETHIOPIA INVESTMENT HOLDINGS (EIH).
