Request for Expressions of Interest at The Federal Ministry of Industry, Trade and Investment (FMITI)
The Federal Ministry of Industry, Trade and Investment (FMITI)
Growth & Employment (GEM) Project – Credit No. NG- 4882
Selection of Investment Appraisal
Request for Expressions of Interest
The Federal Government of Nigeria has received financing from the World Bank towards the implementation of the Growth and Employment (GEM) Project, and intends to apply part of the credit for the appointment of a qualified Investment Appraisal Manager to oversee the investment appraisal and evaluation process for the Innovative Distribution Fund (IDF) under the Project ACT – Nollywood which is an initiative by the Federal Government of Nigeria, led by the Ministry of Finance in collaboration with the Ministry of Culture and Tourism.
The Project is to encourage the sustained growth of Nigeria’s movie industry to realize its potential as a significant creator of employment and contributor to national GDP. The Project aims to alleviate the obstacles to the sector’s growth and promote key components along the movie value chain through the provision of grant funding to support existing or aspiring practitioners within the industry, including the Diaspora.
Objective:
The object of this assignment is to complement other existing initiatives/programs targeted at the Nigerian film industry and to act as a catalyst for institutional capital participation in film projects with the potential to deliver financial returns commensurate with their risk profile. The Investment IDF may enhance the collateral adequacy of distribution projects for providers of debt capital for instance; hence attract additional investment into the viable projects from private sector providers of capital.
Projects to be considered for co-financing by Innovative Distribution Fund (IDF) include distribution solutions across a variety of platforms, for example:
- Physical, i.e., DVDs, VCDs
- Digital/online
- Exhibition solutions, i.e. cinema halls
- Other technology based solutions such as e.g. Blu-ray and mobile applications
- Enablers of effective distribution solutions such as dubbing facilities, standard studios, replication plants, etc.
Scope of Work
The Consulting firm (Investment Manager) to be selected shall oversee the investment appraisal and evaluation process for the Innovative Distribution Fund (IDF) as summarized in the table above and also be required to perform tasks that include but not limited to the following key functions:
- Initial screening of e-applications
- Preparation of investment committee (“IC”) reports/presentations
- Arrange and participate in investment committee meetings for the grant approval(s) and draft non-binding Letter of Interest and Term Sheet (where applicable)
- Arrange interviews/visits with project sponsors
- Evaluate and structure deal terms to include confirmatory due diligence
- Conduct due diligence on approved applications and verification of documentation provided by project sponsors
- Review grant agreement and all definitive legal agreements (external counsel to be retained and PIU/FMF to sign-off)
- Issue drawdown notices to PIU/FMF
- Ensure all conditions precedent to funding are satisfied prior to disbursement
- Compliance, i.e., ensure adherence to covenants/provisions in grant agreement by project companies
- Management of portfolio of project companies post-investment i.e. monitoring and evaluation activities in collaboration with PIU/FMF
- Development of investment scorecard to include data/performance project companies indicators which should be collated from periodically (in conjunction with PIU/FMF)
- Communicate with PIU/FMF to ensure appropriate liaising with applicants
The Federal Ministry of Industry Trade and Investment (FMITI) now invite eligible Firms (“the Consultant”) to indicate their interest in providing the Services. Interested Companies should provide information demonstrating that they have the required qualifications and relevant experience to perform the Services
Submission of Expressions of Interest (EOIs):
Prospective consultants should submit their Expressions of Interest detailing the following information as basis for pre-qualification:
- Profile of firm/consortium including ownership structure and role of each corporate entity with full contact details of each firm;
- Proven/Track records in investment appraisal and fund management in the public or private sector with at least 5 years of work experience
- Details of fund distribution and evaluation carried out in similar project across the globe
- Evidence of excellent administrative skills relating to investment and fund management
- Proof of competence in establishing strong public relationships in the public or private sector
- Evidence of similar work under an international donor agency (World Bank, DFID, AfDB etc)
The attention of interested Consultants is drawn to paragraph 1.9 of the World Bank’s Guidelines: Selection and Employment of Consultants under IBRD Loans and IDA Credits & Grants by World Bank Borrower, Revised January 2011. Consultants may associate with other firms in the form of a joint venture or a sub consultancy to enhance their qualifications. A firm will be selected in accordance with the Consultants Qualification Selection (CQS) Method set out in the Consultant Guidelines.
Further information can be obtained at the address below during office hours 9.00 am to 4.00 pm, Monday through Friday (except public holidays) from the Project Coordinator, Tel: +2348039265356 or +2348057763523
Expressions must be submitted in five (5) hard copies (one original and four copies plus one CD Rom) in a sealed envelope clearly marked “Expression of Interest for Investment Appraisal Manager” to the address below in person or by courier mail not later than Thursday. December 18, 2014
Project Coordinator
Growth and Employment (GEM) Project
The Federal Ministry of Industry, Trade and Investment
Block G, Room 225
Old Federal Secretariat
Area 1, Garki
Abuja
Tel: +2348039265356 or +2348057763523
Email: sanyunus2002@yahoo.com
Interested Applicants should note that;
- Submission shall be in English language only
- Submission through electronic media shall be rejected; and
- Submission received after the deadline shall be rejected
Only shortlisted applicants will be contacted
