REQUEST FOR EXPRESSIONS OF INTEREST
(CONSULTING SERVICES – INDIVIDUAL SELECTION)
DEVELOPMENT FINANCE PROJECT
Assignment Title: Long-term Capital Vehicle Finance Consultant
Reference Number: NG-DBN-221152-CS-INDV
The Development Bank of Nigeria (DBN) Plc has received a loan from the International Bank of Reconstruction and Development (IBRD) and intends to apply part of the proceeds of this loan to payments under a contract with an individual consultant providing services on Long-Term Capital Vehicle Financing.
Long Term capital vehicles are known funding vehicles usually channelled towards investments with long time horizons and are typically utilized in the service of long-term rate of return. While traditional long-term capital vehicles in Nigeria have focused on large-scale infrastructure and real estate projects characterized by high yields and minimal risk profiles, there has been increasing focus on the SME sectors, and recent tax revisions have made SMEs more attractive investment targets[1]. Investments in SMEs are typically in the form of long-term growth capital investments in existing businesses, or seed capital investments in start-up businesses, and evidently present a positive impact to the economy.
The Development Bank of Nigeria is seeking to hire a permanent capital vehicle finance consultant to provide the required expertise in assessing the permanent capital vehicle market in Nigeria, identifying business opportunities / focus areas for partnership with DBN, assisting with the development of relevant products, engagement framework and all relating processes and procedures, as well as developing capacity within DBN in this area. The Consultant will be required to provide early-stage support in on-boarding and lending to identified target customers and in putting in place a template for subsequent engagements / activities.
The Consultant must have previous experience in supporting Financial Institutions in product development and strategy focused on MSME businesses. The Consultant will also be required to have a strong finance background in private equity and venture capital and /or areas such as structured finance and investments.
The Consultant will be engaged for a period of 180 working days over a span of 1 year, for the following purposes:
- To support the DBN in developing capacity in the field of permanent capital vehicles.
- To provide capacity-building as regards the required skill set in managing investments in permanent capital vehicles.
- To help develop DBN’s internal capacity to manage the permanent capital vehicle relationships, and scale-up offerings to the same subsequently.
- Support the development of products and offerings, terms and conditions, and a comprehensive framework covering the entire permanent capital vehicle investment value chain (Screening, Acquisition, Monitoring and Exit) to guide engagement with permanent capital vehicle firms.
- Given the illiquid and long-term nature of permanent capital vehicle investments, the consultant will be required to develop a comprehensive risk management framework to guide the management of the wide spectrum of risks associated with permanent capital vehicle investments.
- Identification and On-boarding of permanent capital vehicle firms with a sizeable MSME portfolio, whose activities align with DBN’s mandates of sustainability and impact.
The Development Bank of Nigeria Plc. now invites eligible individual consultants to submit their Curriculum Vitae (CVs), an expression of their interest in providing these services. Interested candidates are encouraged to provide information demonstrating the qualification required (brochures, description of experience with similar assignments and relevant qualifications).
A Consultant will be selected in accordance with the procedures set out in the World Bank’s Guidelines Selection and Employment of Consultants by World Bank Borrowers, May 2014.
Further details on the Services are provided in the Terms of Reference which can be found on DBN’s website at the following link https://bit.ly/2JDtLoB.
Expressions of interest must be submitted electronically to the following address:
Email Address: ndinwoke@devbankng.com
cc audit@devbankng.com
Submission Deadline: 8th April 2021.