CONSULTANCY TO REVIEW THE AECF FINANCIAL MANAGEMENT POLICIES AND PROCESSES 183 views0 applications

Consultancy to REVIEW THE AECF FINANCIAL MANAGEMENT POLICIES AND PROCESSES

1.0 The Africa Enterprise Challenge Fund.

The AECF is a development institution which supports businesses to innovate, create jobs, leverage investments and markets in an effort to create resilience and sustainable incomes in rural and marginalized communities in Africa. Launched in 2008, the AECF has mobilized over US $356 million to date, leveraging more than US $658 million in matching capital and improving the lives of more than 19 million people in 2018 alone through jobs and increased household incomes. The AECF has so far supported 268 companies in 26 countries in sub-Saharan Africa across 40 value chains in our focal sectors of agribusiness and renewable energy.

In the new 2018-2020 strategy, our goal is to “double our impact in half the time”. To achieve this, we will continue to focus on the agribusiness and renewable energy sectors, increase support to climate-smart technologies, refine our challenge model, expand regional presence, deepen focus on gender, youth and employment by expanding our products and partnership approach to better meet our investees’ current needs; and ensure they rapidly scale and transition to external financing and sustainability thereby attaining our vision of ‘A Prosperous and Enterprising Rural Africa’.

2.0 The objective and scope of the assignment.

The objective of this consultancy is to review the current financial management policies and processes in an effort to provide suggested changes that will then be incorporated in the AECF’s finance manual as well as be incorporated in the new finance system.

This process will ensure that AECF’s financial management system is clearly documented, strengthened, speaks coherently to all other organizational manuals, and is robust.

2.1 Scope of work.

The consultant will carry out a review of the existing financial management policies and processes and identify gaps and areas that may require improvement and strengthening. This includes but is not limited to:

· Review of AECF financial background documents, which include the 2016 due diligence report, audit reports issued in the last two years and any other recommendations from AECF stakeholders

· Review of the current AECF’s finance manual and other financial policies as well as other organizational manuals and policy documents that have a financial impact for purposes of ensuring alignment and consistency of the organizational manuals/policies to the finance manual

· Review of the AECF structure, including branches and impact of this structure on the financial management processes

· Review the current financial management controls

· Mapping out financial processes

· Review the current budgeting process and budget template with an aim to improve the process and template

· Review the current finance system and identify financial management and reporting gaps that require changes in order to be aligned to the proposed new system and how this integrates with the current manual and proposed changes

· Review the financial management processes and system and recommend the areas for change for effective program accounting

· Facilitate the training of staff members on the updated policies and procedures.

3.0 Deliverables of the Assignment

The consultancy is expected to deliver, at the minimum, the following outputs:

· Updated finance manual, incorporating all policies and processes

· Clearly mapped out processes for purposes of new finance system configuration

· Updated chart of accounts for the new finance system

· Updated budgeting and program accounting templates

· Training workshop for staff on the updated policies and procedure manuals and report on the same.

3.1 Outputs and Reporting Requirements

Detailed milestones and outputs to be finalized prior to the signing of the contract.

4.0 Duration of Service

The contract will be effective for a period of 1 Month from the date of signing.

5.0 Qualifications

· At least 5 years of experience in providing advisory services across a range of services in the area of financial management and FMIS including design, development and implementation of financial management system and manuals, computerized FMIS etc.

· Experience in provision of similar assignments in sub saharan Afirca.

· Experience in managing/offering advisory services to institutions/programmes for effective financial management of a large portfolio of SME investments in Sub Saharan Africa.

· Demonstarted knowledge of government regulations in countries of work, donor requirements and regulations would be an added advantage.

6.0 Management

The consultant will report to the Finance Director but work closely with the Finance Manager and Finance Officers who will be their contact persons within the organization.

7.0 Evaluation Criteria

The following criteria will be used for the evaluation:

Key areas for Evaluation / Assessment

Weighted Award

Technical- **70****

The applicant should have experience in providing advisory services across a range of services in the area of financial management and FMIS including design, development and implementation of financial management system and manuals, computerized FMIS etc. (10 marks)

The applicant should have provided consulting services in the development of Finance Manual and Design, Development of Computerized Financial Management System for at least 5 development sector entities and across sub-Sahara Africa. (15 marks)

The Firm should submit their complete profile of Directors/Partners/Individual including details of manpower permanent /contract basis for the assignment (10 marks)

Concise methodology and understanding of the assignment and inception work plan within two weeks of commencement of the assignment (35 marks)

Complete set of Registration documentation as per the statutory and professional requirements ( 10 marks)

Companies applying should also submit their Registration and other relevant statutory documents. An application shall not be considered incomplete if these documents are not submitted.

Financial Proposal

Reality to market/value for money based on the assignment (inclusive of any applicable tax)-30

8.0 Proposal submission

a. Interested consultancy firms and individuals are requested to submit their technical and financial proposals to [email protected] by 5:00 PM E.A.T on 27th June 2019. For enquiries, please email [email protected] and copy [email protected].

b. The Subject of the email should read “Consultancy to Review the AECF Financial Management Policies and Processes.”

c. Technical and Financial proposals will need to be submitted as separate documents. Financial proposals will not be opened until the conclusion of the technical evaluation and then only for those proposals that are deemed qualified and responsive

d. The Financial proposals shall include all applicable taxes quoted separately. If taxes are not mentioned in the financial proposal, The AECF shall consider that they are included in the prices provided.

9.0 Disclaimer

The AECF reserves the right to determine the structure of the process, number of short-listed participants, the right to withdraw from the proposal process, the right to change this timetable at any time without notice and reserves the right to withdraw this tender at any time, without prior notice and without liability to compensate and/or reimburse any party.