1.0 The Africa Enterprise Challenge Fund
AECF is a development institution that builds the resilience of rural and marginalized communities by catalyzing innovative private sector business models with patient capital and growth support services across Sub-Saharan 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 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.
To deliver on our strategy, 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 the 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, enterprising and resilient Africa’.
2.0 About AECF’s Investments Advisory Services
AECF’s Investments Advisory Services (IAS) department is increasingly providing value added support to AECF investee companies in Africa to accelerate their business growth, resilience, and impact delivery. The IAS team works with the investee companies to identify capacity gaps through conducting business diagnostics, prioritizing of capacity needs and planning for delivery of services that will increase business performance and sustainable delivery of social impact. Based on the emerging priority needs of our investees, key advisory services have been categorized under strategy & strategic management; financial management; marketing, distribution & customer service; leadership and organization development; production and operations; integration of environmental and social management; and investment readiness & capital raising.
3.0 About the Assignment
3.1 Purpose of the Assignment**
AECF is seeking the services of a Specialist to provide legal support across AECF’s portfolio of investees to develop, review and advice on legal documents and frameworks during their fundraising process. The Specialist will work closely with the investees, transaction advisory specialists and the IAS team to deliver the Assignment.
3.2 Specific duties and responsibilities (the “Services”) of the Specialist
The Specialist will be expected to deliver on the following series of activities (the “Services”), on a need basis.
a) Working closely with our investee companies, transaction advisory specialists and the IAS team around the legal elements relating to fundraising and investments, including the development of frameworks and templates where applicable.
b) Participating in the fundraising process of our investees in drafting, reviewing, and negotiating term sheets, closing agreements and other project contracts, and advising as appropriate.
c) Advising investees on the legal aspects of transactions as well as continued research into various aspects of the law and regulatory framework impacting on the legal viability of the transactions.
d) Liaising with external counsel through the transaction process.
3.3 Specific Deliverables and timelines of the Services
The deliverables for this assignment are outlined below:
a) Inception report outlining in detail the activities that the Specialist will undertake to provide the required Services and identify any proposed modifications to the initial methodology as set out in the proposal.
b) A report at the end of each activity with accompanying frameworks/templates (where applicable) that the Specialist has developed for the activity.
c) A final report and frameworks/templates, at the end of the Assignment, capturing all activities performed, challenges, lessons, and recommendations for enhanced delivery of similar assignments.
d) A learning paper at the end of the Assignment that can be disseminated to the ecosystem to enhance the delivery and outcomes of similar services to enterprises.
3.4 Duration of the Assignment
The Assignment is expected to commence in May 2021 and end in April 2022.
3.0 Payment criteria
The payment will be activity based and will be made against agreed milestones for each activity and upon satisfactory signoff by AECF. No retainer amount will be paid on execution of the agreement.
4.0 Proposal Submission
Individuals or institutions are invited to submit a proposal that includes the following:
a) Qualification and experience.
b) Approach and methodology to undertake this Assignment, demonstrated by value for money.
c) A detailed financial budget (in USD) and work plan.
d) The technical and financial proposals will need to be submitted as separate documents.
5.0 Qualifications and experience
The minimum competencies and qualifications include:
a) A Bachelor’s degree in Law
b) Deep knowledge of legal matters.
c) At least 5 years of relevant professional experience in providing legal advice for investments transactions and especially to SMEs in Sub-Saharan Africa and preferably in the Agri-business and Renewable Energy sector.
d) Experience and knowledge in developing, reviewing, and advising on legal frameworks investment documents such as loan applications, grant application proposals, investment term sheets, Non-disclosure agreements, shareholder loan agreements, facility agreements, among others.
e) Experience in developing, reviewing, and advising on legal frameworks/templates in transaction advisory and engagement process from a legal perspective.
f) Experience in legal risk analysis is an added advantage.
g) Excellent communications and presentation skills
7.0 Contracting and Reporting
The Specialist will report to the Head of Investment Advisory Services – IAS
8.0 Evaluation Criteria
An evaluation committee will be formed by the AECF and may include employees of the businesses to be supported. All members will be bound by the same standards of confidentiality. The specialist should ensure that they fully respond to all criteria to be comprehensively evaluated.
The AECF may request and receive clarification from any specialist when evaluating a proposal. The evaluation committee may invite some or all the specialists to appear before the committee to clarify their proposals. In such event, the evaluation committee may consider such clarifications in evaluating proposals.
In deciding the final selection of qualified bidder, the technical quality of the proposal will be given a weighting of 70% based on the evaluation criteria. Only the financial proposal of those bidders who qualify technically will be opened. The financial proposal will be allocated a weighting of 30% and the proposals will be ranked in terms of total points scored.
The mandatory and desirable criteria against which proposals will be evaluated are identified in the table below.
Key Areas for Evaluation/ Assessment
(A) TECHNIAL PROPOSAL
i) An understanding of the consultancy requirements;
Demonstrate an understanding of the Assignment
An in-depth understanding of law, and professional experience in transaction advisory and investments.
Understanding of SMEs in Agri-business, PAYGo models and climate smart technology sub-sectors in sub-Saharan Africa will be an added advantage.
ii) Methodology and work-plan that will deliver the best value on the Assignment:
Demonstrate the strategy and capacity to deliver each proposed activity within a realistic timeline, underpinned by value for money.**
Strategy that demonstrates capability to deliver a large part of this Assignment virtually.
iii) Relevant services undertaken by the bidder in the past engagements:
Demonstrate relevant experience and recent engagements with private sector companies in providing companies with legal support during the fundraising process. Experience in supporting companies in the Agri-business and Climate smart technologies sub-sectors in sub-Saharan Africa is added advantage.**
iv) Detailed reference list indicating the scope and magnitude of similar assignments:
Letters of reference from past customers or associates to the Specialist, clearly indicating the legal support provided and the value and impact on the business supported.
(A) FINANCIAL PROPOSAL
Clarity, relevance, reality to market value/ value for money of cost for each of the proposed activities (inclusive of any applicable tax, including VAT, WHT etc).
The AECF is obliged by the Kenyan tax authorities to withhold taxes on service contract fees as well as ensure that VAT, is charged where applicable. Applicants are advised to ensure that they have a clear understanding of their tax position with regards to provisions of Kenya tax legislation when developing their proposals.
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.
How to apply
10.0 Application details
To be considered, your proposal reference “REQUEST FOR EXPRESSION OF INTEREST FOR A LEGAL SPECIALIST” must be addressed to email@example.com and received by
Friday 16th, April 2021 5:00 PM EAT.