Consultancy for assignment: “Improving investment appraisal skills within GoR” for the Project “Macroeconomic and Investment Policy

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Expression of Interest Consultancy for assignment: “Improving investment appraisal skills within GoR”

for the Project “Macroeconomic and Investment Policy”

(July 16th, 2018 to October 15th, 2018)

Project Objectives

The Project “Macroeconomic and Investment Policy” contributes to the overall objective of strengthening capacities of key state and scientific actors in Rwanda to shape an economic and investment policy geared to pro-poor growth thereby providing advice to economic policy makers, especially in MINECOFIN, necessary for effective decision-making processes.

The project is working in three support areas: 1) support of the Chief Economist Department in order to strengthen the capacities for macroeconomic analysis and research, 2) working with the National Development Planning and Research Department to improve capacities at individual and institutional level for public investment management and 3) strengthening the cooperation between MINECOFIN, BNR, NISR, EPRN, IPAR and other stakeholders in the field of economic policy-related research.

Background Information

The Government of Rwanda has an ambitious National Strategy for Transformation (NST1) that is aimed at driving the country towards attaining upper middle income country status by 2035 and high income status by 2050 with the intention of providing high quality livelihoods and living standards to Rwandan citizens by mid-century in line with Vision 2050. Rwanda has also set a target under the 7 year NST1 to double private investment by 2025 and triple it by 2035.

To deliver on these ambitious targets, the Government plans to implement a range of public investments aimed at crowding-in private investment by de-risking of projects and expanding the range of financing facilities. This means across various GoR ministries and agencies, critical decisions will have to be made on where and how best to invest the government’s limited resources. In addition, GoR will have to assess investment proposals from the private sector and determine how best to support and facilitate them. As such, it is important to ensure that those (i) developing public investment projects; (ii) assessing private investment opportunities, (iii) evaluating the success of completed projects, and more importantly (iv) making the key decisions are equipped with the appropriate skills to enable them to efficiently allocate scarce resources in support of the NST1 and Vision 2050 development goals.

To ensure a sustainable development of needed capacities, the long-term objective is to create a range of (internationally) accredited courses (certificates, diplomas, & degrees) for students and professionals delivered by collaboration between Rwandan institutions and selected international universities. Financial sustainability is supposed to be achieved by transitioning away from government / donor funded training to a model where the basics of investment appraisal and financial analysis already form part of a master’s and where people working in both the public and private sector pay for their training on the basis that they recognise the importance of the skills they will develop and how useful these will be in their daily lives.

Objectives of the consultancy

This assignment is intended as a first step towards a sustainable establishment of capacity development in investment appraisal and financial analysis across government and private institutions. Based on pilot trainings across different levels of ministerial institutions, a concept for a step-by-step procedure to establish financially sustainable courses at tertiary and professional level is to be developed.

In particular, the assignment aims at

  • Short term capacity building on investment appraisal and financial analysis across different levels of government institutions in form of pilot trainings
  • Assessing needs and demand in the field of investment appraisal and financial analysis within public and private institutions
  • Identifying preferred options for the design and establishment of needed capacity building measures
  • Devising a strategy for implementation of preferred options

Scope of Work

The requested scope of work includes two essential modules, the pilot training and the development of a capacity building concept, including an implementation strategy.

Pilot trainings

A suite of training courses is supposed to be designed and targeted at three levels: High level, senior management and technical staff within GoR ministries and agencies. The courses shall be designed and tailored to ensure that the recipients understand their role in the investment appraisal cycle, have the appropriate knowledge to ask the right questions, seek the right information, and make the right decisions.

The following three tier programme is proposed for pilot trainings:

  1. High Level Course focusing on investment analysis and decision making criteria for CEOs, COOs and DGs,
    duration: 6 hours of training
  2. Senior Management Course targeting Directors and Deputy Directors involved in domestic public sector project preparation and briefing to executive staff,
    duration: 12 hours of training
  3. Practitioner Course targeting economists, planners, technical officers, regulators, and financial analysts involved in the design, implementation, and evaluation of projects
    duration: 27 hours of training

The consultant is tasked to prepare and conduct the pilot trainings.

Capacity Building Concept and Implementation Strategy (Report)

The capacity building concept and implementation strategy need to build on a sound analysis of the current situation, including a demand analysis and the assessment of options for the delivery of trainings. Furthermore, special attention needs to be paid to the aspect of financial sustainability of proposed solutions.

Accordingly, the report shall cover (at least) the following aspects

  • Analysis of demand for capacities in investment appraisal and financial analysis across public and private institutions to shape the design and dimensioning of courses, incl. evaluation of pilot trainings
  • Analysis of potential institutions (and teachers, trainers) to deliver training courses
  • Development and appraisal of options for the content-oriented design of courses, these shall include among others
    • Targeted participants, e.g. tertiary education, executive courses, incl. looking at officer, management and executive levels
    • Conceptual outline of courses, levels of qualification
    • Alternatives of certification and accreditation on national and / or international level
  • Development and appraisal of institutional and financial options, these shall include among others
    • Identification and assessment of potential institutions to deliver capacity building measures, incl. preliminary talks to sound out interest
    • Develop potential institutional/ organisational designs to deliver courses
    • Sketch of activities needed to establish courses, taking into consideration, among others, training of trainers and testing of training modules
    • Development of business cases to assess long-term sustainability of concepts, including funding options
  • Prioritisation and selection of options, summary of preferred options
  • Detailed implementation strategy for preferred options showing recommended steps and milestones

Outputs / Deliverables

The expected outputs of this assignment shall comprise the following:

  • Inception Report

As a minimum, the Inception Report will provide a detailed explanation of the approach that will be undertaken including: an understanding of the overall and specific objectives of the assignment and expected results in terms of assessment of existing documents, the proposed methodology and an expected framework for the outputs to be produced, including timeline, a proposed list of key stakeholders and how they will be consulted.

  • Draft Report

The draft report shall address the general and specific objectives of this assignment. This document shall be reviewed by the client and shared with stakeholders for feedback and inputs.

  • Final Report

Final report should be precise in wording and include, but not be limited to:

  1. Executive summary
  2. Demand, institutional analysis
  3. Development and appraisal of options
  4. Prioritisation and selection of options
  5. Implementation strategy

The final draft will be reviewed and approved by the client.

  • Evaluation of pilot trainings and training materials provided

Time Frame

The consultancy should be conducted between July 16th and October 15th. Pilot trainings are envisaged to take place in August and September. The inception report should be presented beginning of August; the draft version of the final report should presented middle of September and a revised version beginning of October in order to submit the final report by middle of October 2018.

Professional requirements for the Consultancy

The consultant(s) should have a master’s degree in an investment related area (finance, business administration, economics, etc.)

The consultant(s) need/s to be familiar with

  • the concept of investment appraisal, financial and economic analysis, including preparation of feasibility studies,
  • the scope of investment projects across different sectors related to improving the delivery of services at national level in East Africa
  • Rwandan institutions, players providing and / or demanding investment appraisal services
  • Landscape of educational institutions in Rwanda and internationally

Experience in developing countries is required; experience in Eastern Africa would be an advantage.

The consultant(s) must be fluent in English and be able to deliver reports in English.

The Tender Procedure / Budget

The consultancy will be awarded following an open tender process:

  • Comments on the TORs (in particular specifications of the procedures), including comments on the time frame
  • Concept for the preparation of the assignment, incl. applied methodologies, proposed timeline, input needed from client
  • Comprehensive and updated CV(s) of the suggested consultant(s)
  • Statement(s) of availability
  • Financial proposal, net value in Rwandan Francs

Please deposit your application (technical and financial offers) in sealed envelopes latest 5th of July 2018 at 4:00PM, at the front desk of :  

GIZ Office Rwanda

KN 41 St. / Nr.17, Kiyovu

P.O. Box 59, Kigali,

Rwanda