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Investment Banking/Project Finance Consultant (National or International)

Kampala

  • Organization: UNDP - United Nations Development Programme
  • Location: Kampala
  • Grade: Consultancy - National Consultant - Locally recruited Contractors Agreement
  • Occupational Groups:
    • Banking and Finance
    • Sustainable Development and Poverty Reduction
  • Closing Date: Closed

Background

The UN Capital Development Fund (UNCDF) is the UN’s capital investment agency for the world’s 49 least developed countries. It focuses on Africa and the poorest countries of Asia and the Middle East, with a special commitment to countries emerging from conflict or crisis. Within its economic development mandate UNCDF specializes in public and private financing mechanisms that catalyze economic growth and make it more inclusive and sustainable.

 Through country programmes and global thematic programmes, UNCDF offers a unique combination of investment capital, and technical advisory services to promote Local Development Finance and Inclusive Finance in the Least Developed Countries (LDCs). UNCDF’s Local Finance Initiative (LFI) programme is designed to unlock financial sectors in developing countries for financing small and medium-sized infrastructure projects that;are needed to accelerate local economic and private sector development.

Duties and Responsibilities

The Consultant will have primary reporting responsibility to the Chief Technical Advisor, Local Finance Initiate (LFI) based in Dar es Salaam, Tanzania and a secondary reporting line to the LFI Investment Officer based in Kampala, Uganda.

  1. Provide specialized project development and project finance advisory services that will lead to the financial closure and financial disbursement of investment projects in Uganda (85%). Specifically:
  • See objective 1 and 2 below;
  • Develop and manage a portfolio of 20 local economic development investment projects (prepare projects to be investment ready);
  • Work together with both private (e.g. SMEs) and public (local authorities) sector project developers) and UNCDF staff to process selected projects through project development and financing stages (for advanced projects). A typical project has a minimum of total project cost of $100,000;
  • Data collection, financial analysis, enhancement of initial business plans, due diligence, and review of all project developers’ initial documents such as business and technical feasibility studies and compliance requirements and gaps.
  • Perform transaction structuring to achieve the optimal capital structure aimed at meeting known requirements of lenders and investors;
  • Prepare relevant project financing documentation including project information memoranda required to present to potential lenders and investors both at preliminary screening and late stage presentations having clear, transparent and relevant information that is in accordance with international standards;
  • Document the critical detailed steps required to reach financial closure;
  • Consult and participate in equity and debt agreements negotiations with financial lenders, equity investors and guarantee institutions including term sheet and other key project documents;
  • Support the project developer during lender due diligence visits and enquiries;
  • Provide a substantially complete financial model based on new information from agreements and negotiations with lenders, equipment suppliers, contractors, lawyers etc.;
  • Advise the project developer through the entire funding negotiation process leading to the signing of financing documentation to achieve project financial closure status;
  • Support the project developer to clear conditions precedent to disburse;
  • As part of the final report, prepare a list of projects and the activities (including conditions precedent issued by lender/investors and actions taken to clear) that may remain pending at the conclusion of this assignment for follow up by the project developer

Capacity building and knowledge transfer (15%)

Support UNCDF staff engagement in private sector finance deliberations and provide knowledge transfer through on the job consultation sessions with project developers and in workshops/training organized by UNCDF.

 

General Deliverables:

 Detailed Work Plans – Create work plan for all projects to include at a minimum the following objectives, activities and strategies to achieve them:

 Objective 1:  Complete project due diligence and development of key investment documents

                   Substantially complete Financial Model including the full costs

  • Revenue breakdown, Profitability and returns, Deal structure, Term sheets

                  Due Diligence (general)

  • SPV set up/Company registration, Financial position of all partners, investors and shareholders
  • Risks, Regulatory requirements for proposed transaction
  • Technology and generation capacity
  • Profitability and returns
  • Etc.

                   Regulatory and Legal

  • EIA’s, all permits including building etc.
  • EPC, O&M, and all other agreements/contracts

                 Investment documents including information on

  • Market, Corporate overview, Personnel and management
  • Risk and Mitigation strategies including credit enhancements and guarantees
  • Technology and production capacity
  • Profitability and returns
  • Legal and regulatory

                 Project Management Plans

 Objective 2: Strategies to help project  to reach financial close with commercial banks, investors, lawyers, contractors, and other third parties.

  • Project information Memoranda
  • Presentations and negotiation of terms with key stakeholders (banks, investors, guarantee institutions etc.) mentioned above
  • Recommendation of funding sources for the projects

 Project Output Documents

  • Detailed Work Plan
  • Due Diligence Report
  • Substantially complete and consolidated Financial Model for the Base Case and sensitivity analyses
  • Project Management Plan
  • Project Budget
  • Bank Information Memorandum both the preliminary version and the detailed final version)

Bi-Monthly Deliverables:

The following bi-monthly deliverables may be adjusted as needed based on review and approval of UNCDF.

Project development & Financial Advisory Services Outputs

Month 1 & 2

  • Complete set of critical project documents (intro sheet, project management tool, and where applicable financial models) for each project has been reviewed and the detailed project work plan developed and completed.
  • Initial short version of bank information memorandum (brief project information) developed and completed for at least 2 projects in month 1 and 4 projects by end of month 2.
  • Due diligence report completed for all projects

1st Status Report produced at end of month 2

Month 3 & 4

  • Updated set of critical project documents for each project has been reviewed and the detailed project work plan developed and completed.
  • Advanced negotiations of at least four financial term sheets, possible credit enhancements and guarantees with strategic partners or banks/investors
  • Detailed status of each project as validate by UNCDF staff on the ground

2nd Status Report produced at end of month 4

Month 5 & 6

  • Updated set of critical project documents
  • Detailed status of each project as validate by UNCDF staff on the ground
  • Advanced negotiations of at least four financial term sheets, possible credit enhancements and guarantees with strategic partners or banks/investors
  • A list of projects in a financial close stage (financing agreement) with lenders/investors

Final Report completed and delivered to UNCDF

Capacity Building and Knowledge Transfer Outputs

  • Month 2-4 - Complete at least one training or workshop for local project developers related to project development and financing stages and lessons learned.

Reporting

 The following reports shall be submitted to UNCDF (to the attention of the LFI CTA) in form and substance acceptable to UNCDF:

  • Bi-Monthly Status Reports, within 2 weeks after the end of the two months cycle
  • Final Report upon completion of the assignment

 Work permits:

 Candidates are required to have all appropriate visas to work in Uganda throughout the duration of the contract.

 Compensation: 

 This contract will be based on daily or monthly agreed fee. Payment shall be made according to a Payment Schedule, to be approved by UNCDF, which will be worked out based on review of the financial proposals and the detailed duties and expected outputs.  The daily or monthly fee is all inclusive and shall take into account various expenses incurred by the consultant during the period of the contract.  Payments will be based on timesheets and invoices approved by UNCDF.

Travel: 

 UNCDF will pay separately travel expenses (economy airfare, terminal expenses and per diems which include hotel and food expenses) according on standard UN rates based on evidence of approved and actual travel.

 

Competencies

  • Serves and promotes the vision, mission, values, and strategic goals of UNCDF;
  • Plans, prioritizes, and delivers tasks on time;
  • Conceptualizes and analyses problems to identify key issues, underlying problems and how they relate to each other;
  • Demonstrates effective written and oral communication skills;
  • Plans and produces quality results to meet established goals;
  • Generates innovative, practical solutions to challenging situations.

Required Skills and Experience

Experience:

Development and execution of commercially viable investment projects in developing countries including substantial projects in West Africa.

  • International investment banking experience and a demonstrated track record in securing private sector financing for projects with project sponsors, including sponsors that are SMEs;
  • Knowledge of investment, finance and their project analysis tools and methodologies
  • Demonstrated track record in structuring infrastructure projects in developing countries.  In addition, the use of risk mitigation structures, including specific elements such as partial loan guarantees, EPC, O&M and off taker agreements/contracts is a plus.
  • Demonstrated track record of innovating in the above project development and financing processes, adapting the development, structuring, risk mitigation, and financing as needed to secure private sector finance;
  • Tract record of working with and access to potential lenders and alternative equity partners from the Development Finance Institutions (DFI’s) / Multilateral Finance Institutions (MFI’s) / impact investment community;
  • Demonstrated ability to develop and or close corporate finance & project finance transactions in Africa, is a plus
  • Demonstrated the ability to successfully interact with individuals of different cultural backgrounds which include willingness to try and understand and be tolerant of differing opinions and views.

 Education:

  • A Master’s Degree or equivalent in international development, financial management, Business administration or equivalent

Language:

  • Fluency in English.

Availability:

Immediately

Evaluation of applicants:

Individual consultants will be evaluated based on a “a combined scoring of 70% for technical and 30% for financial”. The award of the contract will be made to the individual consultant whose CV and proposal is determined to have “a combined scoring of 70% for technical and 30% for financial”. will be evaluated based on:

  • Relevant experience working in international development, regional development finance institutions, investment banking, project development and project finance, and helping an investment project reach finance closure with banks/investors and disbursement in Africa.

Application procedure:

Qualified candidates are requested to upload all documents as one file under "CV". All the required documents should be attached and submitted with your proposal.

 The proposal should contain:

  • Technical proposal in English;
  • Recent CV with references;
  • Proposed daily rate or monthly rate and other expenditures.
UNDP is committed to achieving workforce diversity in terms of gender, nationality and culture. Individuals from minority groups, indigenous groups and persons with disabilities are equally encouraged to apply. All applications will be treated with the strictest confidence.
This vacancy is now closed.
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