(REOI) Individual Consultancy services for Verification and Valuation of NELSAP-CU Fixed Assets.
Individual Consultancy services for Verification and Valuation of NELSAP-CU Fixed Assets.
1. Background
The Nile Basin Initiative (NBI)/ Nile Equatorial Lakes Subsidiary Action Program Coordination Unit (NELSAP-CU) has received a grant from the World Bank through the Cooperation in International Waters in Africa (CIWA) Trust Fund to finance the Nile Cooperation for Climate Resilience (NCCR) Project.
NELSAP is in the process of the implementation of International Public Sector Accounting Standards (IPSAS) General Purpose Financial Statements reporting, as well as an Integrated Financial Management Information System (IFMIS) that will support the financial reporting under IPSAS.
NELSAP therefore wishes to engage the services of an individual consultant to verify and carry out valuation of NELSAP fixed assets so as to comply with the requirements of IPSAS 16 (Property, Plant and Equipment), and IPSAS 31 (Intangible Assets). The assets valuation report will form the basis of opening balances as of 1st July 2022 for Property, Plant and Equipment and Intangible Assets that will be reported in the NELSAP-CU IPSAS General Purpose Financial Statements for the period 2022/2023.

2. The Scope of Services,
The assignment involves verification and valuation of the following NELSAP-CU Fixed Assets.
Vehicles, Communication and IT Equipment, Furniture and Fittings, Office Equipment and Intangible Assets
The tasks include but not limited to the following:
(i) Analysis of Property Plant and Equipment (PPE) and Intangible Assets under IPSAS 16 and 31 respectively and other related referral documentation.
(ii) Review and carryout assessment and verification of Fixed Assets existence at NELSAP-CU.
(iii) Analyze the asset inventory to:
• Establish accurate records and class of Fixed Assets
• Determine the useful life of the Assets
• Create deprecation schedule for the Assets
• Establish and confirm legal documentation
(iv) Carry out Valuation exercise of NELSAP-CU Fixed Assets and provide a monetary value for each asset.

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3. Expected Deliverables and Timelines:
The assignment will take 20 working days.
The expected deliverables are:
a) Inception Report. To be concluded in 5 working days after signing of the contract and will be executed as follows:
(i) Reconnaissance, Preliminary Inspection/Site Visit. This will involve:
• Verification of all the assets under section 4 and legality of their documentation.
• Getting details of the logbooks for the vehicles and dates when they were donated or purchased.
• Getting specifications and dates of the purchase or donation of the Communication and IT Equipment.
• Obtaining dates when Furniture & Fittings were bought or donated, invoices and receipts if any.
• Obtaining dates when the office equipment were bought or donated, invoices and receipts if any.
• Specifying which intangible assets to value.

(ii) Draft Inception Report.
This will include details of the field findings from the site visit, purpose of valuation, basis of value, methodology and detailed work plan for the assignment.
b) Valuation Report. To be concluded within (15) days after delivery and acceptance of Inception Report and detailed as follows.

(i) Physical Site Visit and Full Inspection. This will involve:
• Inspection of all the assets and taking photos.
• Assessing and recording the working conditions of all assets.
• Assessing the physical obsolescence of all assets.

(ii) Draft Report. –Assess and Verify NELSAP Assets and Draft Fixed Assets Inventory & Schedules having:
• Listings of the Assets
• Categorization and class of assets following the PPE principle.
• Propose appropriate recommendation to the managements for future economic benefits and doing asset listings.
• Table indicating useful life of the assets
• Depreciation schedule

(iii) Valuation Report prepared according to the International Valuation Standards. The report will include the following:
• Purpose of valuation
• Basis of valuation
• Methodology used in valuation
• Identity of the valuer
• Identity of the client
• Assets being valued (detailed list and class)
• The valuation currency
• Valuation date
• The nature and source of information upon which the valuer relied
• Significant assumptions and/or special assumptions
• Restrictions on use, distribution, and publication of the report.

5. Qualification of the Consultant:
• Should have a Bachelor’s degree in Surveying, Economics, or related field from a recognized University.
• Should be a registered member of the Institute of Chartered Surveyors and Valuers to the Institute of Real Property Valuers (IRPV) of Rwanda.
• Should have at least five years’ experience as a practicing Valuer.
• Should have previous proven experience in valuation of movable and intangible assets.
• Experience working for Inter-governmental organizations similar to NELSAP-CU will be an added advantage.
NB: Firms interested to provide individual consultants are free to do so.
Interested Individual consultants may obtain further information from http://nelsap.nilebasin.org and/or at nelsapprocurement@nilebasin.org; lmwenzikazi@nilebasin.org

6. Selection Process
Individual Consultants will be selected in accordance with the World Bank “Procurement Regulations for IPF Borrowers July 2016”. Interested Individual Consultants are invited to submit resumes and relevant supporting documents by email addressed to nelsapprocurement@nilebasin.org with copy to nelcuvacancy@nilebasin.org; lmwenzikazi@nilebasin.org. The deadline for receiving CVs is Tuesday 18th October 2022 at 16:00 hours Rwanda Time and clearly referenced ‘Individual Consultant for verification and valuation of NELSAP-CU Fixed Assets’.
Signed by;
Eng. Dr. Isaac ALUKWE
Regional Coordinator, NELSAP-CU