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Recruitment of an individual consultant based in Nairobi, Kenya

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REQUEST FOR EXPRESSIONS OF INTEREST

(Individual Consultant)

Energy Financial Solutions Division (PESR2) Energy Financial Solutions, Policy and Regulation Department Power, Energy, Climate and Green Growth Complex

Industry and Service Division (PITD4) Industrial and Trade Development Department Private Sector, Infrastructure and Industrialization Complex

AFRICAN DEVELOPMENT BANK (AfDB)

 

 

Expressions of interest are being requested for an Individual Consultant Position based in Nairobi, Kenya

  1. The Energy Financial Solutions, Policy and Regulation Department (PESR) of the African Development Bank (AfDB) has primary responsibility for processing the Bank’s non-sovereign operations in the energy sector. These operations include: lending, equity participation, guarantees, lines of credit to private financial intermediaries, syndications, underwriting and technical assistance related to private sector development in the 54 African countries (Regional Member Countries – RMCs) ;
  2. The Energy Financial Solutions division (PESR.2) is dedicated to the origination, structuring, and execution of infrastructure projects in the power sectors. In addition to project finance, the division also provides direct support to corporate entities and projects through equity investments, as well as through specialized intermediaries such as private equity and venture capital funds ;
  3. The role of the Bank’s Industrial and Trade Development Department (PITD) of the African Development Bank is to promote Industrialize Africa, one of HI 5 initiatives. The department leads the Bank’s activities in the area of industrial policies, ICT and 4th Industrial Revolution, trade and investment climate, and private sector investments in industry and services. It has primary responsibility in the execution of various financing instruments which include: lending, equity participation, guarantees, technical assistance related to private sector development in the 54 Regional Member Countries (RMCs) ;
  4. The Industry and Service Division (PITD.4) is dedicated to the origination, structuring, and execution of Non-Sovereign Operations (NSOs) in the Manufacturing and Industry (basic intermediate goods such as cement and steel, and fertilizer, mining, and logistics), Service (hospitality), as well as Information & Communication Technology (ICT) sectors ;
  5. The Bank is seeking a seasoned Consultant to support PESR and PITD, to identify new investment opportunities and execute transactions ;
  6. The services to be provided under the Assignment include: (i) Participate in the identification, development, structuring and processing of projects to be considered for private sector financing, undertaking the needed due diligence, risk analysis and mitigation work towards the structuring of loans (project finance and corporate loans), equity investments, guarantees or other forms of assistance; (ii) Develop innovative and appropriate financial structures for complex transactions; (iii) Participate in due diligence missions and provide technical support in negotiations with project developers, sponsors, and financiers to facilitate the financial closing of transactions and implement projects; (iv) Participate in specific transaction meetings with external technical advisors, consultants and lawyers; (v) Review and analyze financial statements and financial projections/models; perform sensitivity analysis and stress testing and make necessary recommendations; (vi) Understand and assess key project documents, including Concession Agreements, Power Purchase Agreements, EPC Contracts, O&M Agreements, Investment Agreements, Shareholders’ Agreements, Fuel Supply Agreements, etc.; (vii) Have a good understanding of project and concession financing, tendering of IPP projects, policy issues, license conditions, tariff regimes, and collaborate on these matters as appropriate with sector policy specialists and government regulators and officials; (viii) Manage the drafting of project documents including preliminary evaluation notes, project concept notes, project issues lists, project appraisal reports and other briefs for presentation of transactions to country team, credit committee, operational committee, Board of Directors and other meetings; and (ix) Lead in the negotiation of finance documents towards closing and disbursements of funds ;
  7. The Terms of Reference is attached below ;
  8. The Bank invites Individual Consultants to indicate their interest in providing the above-described services. Interested Consultants shall provide information on their qualifications and experience demonstrating their ability to undertake this Assignment (CV, reference to similar services, experience in similar assignments, etc) using the template attached at the end of this document ;
  9. The assignment will be for a period of 12 working months and the estimated starting date will be 21 March 2019. The assignment is based in the Nairobi regional office in Kenya. The eligibility criteria, the establishment of a short list and the selection procedure shall be in conformity with the Rules and Procedure for Acquisition of Consulting Services funded by the Administrative or Capital Expenditure Budget. Please note that interest expressed by an individual does not imply any obligation on the part of the Bank to include him/her in the shortlist ;
  10. A shortlist of three to six individual consultants will be established at the end of the request of expressions of interest. The consultants on the shortlist will be judged on the following criteria based on their profiles ;
  11. General qualifications and adequacy for the assignment to be undertaken – 30% ;
  12. Similar experience in the area of expertise of the assignment – 50% ;
  13. Experience with investment banks, AfDB, and/or multilateral donors – 10% ;
  14. Knowledge of the region 10% ;
  15. Interested Individual Consultants may obtain further information at the addresses below ;
  16. Expressions of interest must be received by email at the addresses below no later than March, 18 2019 at 17h00 local time (Nairobi, Kenya) ;
  17. For the attention of :

Jasmin Jakoet E-mail : j.j[email protected]

Dianne Lee : Emai : [email protected]

With copy to : Ms. Roseline Sanon. E-mail : [email protected]

For the EOI to be considered, the consultant needs to be registered in the AfDB DACON Consultant Database. New registration can be obtained at here on a PC only through Internet

Explorer.

TERMS OF REFERENCE

(Individual Consultant)

Introduction :

The Energy Financial Solutions, Policy and Regulation Department (PESR) of the African Development Bank has primary responsibility for processing the Bank’s non-sovereign operations in the energy sector. These operations include: lending, equity participation, guarantees, lines of credit to private financial intermediaries, syndications, underwriting and technical assistance related to private sector development in the 54 African countries (Regional Member Countries – RMCs). The Energy Financial Solutions division (PESR.2) is dedicated to the origination, structuring, and execution of infrastructure projects in the power sectors. In addition to project finance, the division also provides direct support to corporate entities and projects through equity investments, as well as through specialized intermediaries such as private equity and venture capital funds.

The role of the Bank’s Industrial and Trade Development Department (PITD) of the African Development Bank is to promote Industrialize Africa, one of HI 5 initiatives. The department leads the Bank’s activities in the area of industrial policies, ICT and 4th Industrial Revolution, trade and investment climate, and private sector investments in industry and services. In particular, Industry and Service Division (PITD 4) is dedicated to the origination, structuring, and execution of Non-Sovereign Operations (NSOs) in the Manufacturing and Industry (basic intermediate goods such as cement and steel, and fertilizer, mining, and logistics), Service (hospitality), as well as Information & Communication Technology (ICT) sectors. It has primary responsibility in the execution of various financing instruments which include: lending, equity participation, guarantees, technical assistance related to private sector development in the 54 Regional Member Countries (RMCs).

In light of the above, the respective departments are requesting the services of Consultants with 15 to 30 years-experience in Finance (Investment banking, Debt Restructuring, Project Finance, Investment Advisory, Structural Financing), with a proven ability to lead negotiations of transaction to financial close as a Mandate Lead Arranger (MLA).

Scope of the assignment :

General :

The African Development Bank (MODEL CURRICULUM VITAE – AFDB BAD) is therefore recruiting a qualified individual consultant to be based in Nairobi for the task of: business development, origination, structuring, and execution of private investment projects, in support of investment officers in PITD and PESR.

Specific duties & responsibilities :

Under the overall supervision of management of PITD and PESR as well as in close collaboration with Investment Officers based in the field, the Consultant’s assignment shall include but not limited to the following tasks :

  • Proactively identify potential investment partners and opportunities based on industry experience, reputation, market potential, financial capability, and strategic fit ;
  • Assess the attractiveness of specific investment opportunities with a strong focus on credit quality and development impact ;
  • Support investment officers to prepare project appraisal documents for presentation to the department, review committees, senior management and finally to the Board of Directors ;
  • Support investment officers to carry out on-site due diligence of projects ; and
  • Support investment officers in negotiation of finance documentation and achievement of financial close.

Deliverables :

The following deliverables will be produced/coordinated by the Consultant :

  • A good number of new sponsors in the sector and projects identified ;
  • A good number of projects reviewed and added to the pipeline (in the Active Program Processing System of the Bank) ;
  • Necessary support required at Preliminary Evaluation stage including document review ;
  • Necessary support required at Project Concept stage including document review, drafting, participation in the committee meetings ;
  • Necessary support at the Project Appraisal stage including document review, drafting, participation in the due diligence mission, committee meetings, and the Board ;
  • Necessary support at the Negotiation and Signing stage including negotiation with the sponsor and co-financiers on the term sheet, and loan document review ;
  • Participation in the workshops and seminars in the relevant sectors when required.

Logistics and duration  :

The Consultant will be based at the RDGE in Nairobi. The services cover the countries under the jurisdiction of the East Africa Resource Center (i.e. Kenya, Uganda, Tanzania, Rwanda, Burundi, Seychelles, Ethiopia, Djibouti, Sudan, South Sudan, Eritrea, Comoros and Somalia) and may require travel within the region.

The estimated duration of services is an initial period of twelve (12) months, with possible renewal for another period of six (6) months if the performance of the consultant is rated as satisfactory. The commencement date is tentatively planned for 19 March 2019. The Consultant shall devote his time evenly to the work associated with PITD as well as the work associated with PESR.

Qualification and experience required :

The Consultant should demonstrate the following qualifications, competencies, skills :

  • At least a Master’s degree in Accounting, Finance, Business or equivalent qualification or accreditation. Additional qualifications in financial power engineering is a plus ;
  • Minimum of 15 relevant years of experience ;
  • Strong financial modelling expertise ;
  • Proven track record of processing and executing complex transactions in the energy sector from a private sector standpoint and in particular related to IPP investments ;
  • Extensive working experience and demonstrated knowledge in the energy sector is required ;
  • Proven ability to interact competently with the staff of government and utilities on issues relating to private investments in generation ;
  • Self-motivated and pro-active, with ability to deliver in high paced and changing work environment ;
  • Similar experience in other financial institutions including international finance institutions, commercial and investment banks is a plus ;
  • Excellent organizational, administrative, and time management skills with proven ability to work promptly and efficiently under pressure and meet tight deadlines ;
  • Excellent written and verbal communication skills in English.

Remuneration :

The remuneration will be based on the Consultant relevant experience and the Bank’s Guidelines on Individual Consultants Remuneration.

Please attach an updated Curriculum Vitae on the basis of the template below:

MODEL CURRICULUM VITAE (CV)

MODEL CURRICULUM VITAE – AFDB BAD

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