1. BACKGROUND

The Green Recycling Enterprises Engaging in New Technology for a Circular Economy in Zambia (GREENTech4CE) project is a €22.7 million initiative funded by the European Union. The project is implemented by Self Help Africa (“SHA”) in consortium with Imani Development (International) Ltd (“IDIL”), Prospero Limited (“Prospero”), and Tandem Circular Consulting (“Tandem”).

The GREENTech4CE project is dedicated to fostering sustainable and inclusive economic growth in Zambia, supporting the development of start-ups and MSMEs within the green, circular economy and digital sectors and/or those seeking to implement or transition to green, circular, and digital business models. Through comprehensive technical and financial support, GREENTech4CE will drive innovation, create employment opportunities, and facilitate economic diversification.

• The project operates under the broader Green Economy Promotion and Diversification (GEPD) Project, addressing Zambia’s economic vulnerabilities and environmental challenges.
• It supports Zambia’s Green Growth Strategy and the 8th NDP objectives to achieve economic diversification, local value addition, job creation, and the Critical Raw Minerals (CRM) strategy.
• The project targets the “missing middle” – businesses considered too risky or in growth stages that are not mature enough for commercial financing.
• GREENTech4CE aims to provide expert advice and funding to small and medium businesses, promoting collaboration with stakeholders, including government, businesses, and consumers.
• The project employs a blended financing model combining project financial support with business contributions to stimulate investment.
• It emphasizes the inclusion of women and youth entrepreneurs, helping them overcome barriers to participation in the economy.
• The project will provide technical assistance and financial support to 800 MSMEs at different stages of development.
• Financial support will come via matching grants totaling EUR 15.7 million, with medium enterprises receiving between EUR 100,000 and EUR 500,000, and small enterprises receiving EUR 20,000 to EUR 100,000.

For more information regarding the GREEN Tech4CE project, please visit the website.

2. GREEN TECH4CE PROJECT OPERATIONS

The intervention logic of the GREENTech4CE project aims to address the challenges MSMEs face in developing into a sustainable and diversified green, circular, and digital (GCD) economy. The project intends to enhance MSMEs’ capacities through technical assistance and financial support to increase local value addition, sector diversification, and market access for GCD products.

• The project will improve the availability and diversity of financial products for MSMEs and foster public-private learning and policy advocacy.
• It will provide financial support through several calls during the lifespan of the project.
• An Investment Committee (IC) will be established to manage and oversee the fund, comprising nominated staff from partner institutions and independent investment advisors.
• The Investment Committee will report to the GREEN Tech4CE Project Management Board, and the Project Compliance Officer will assess compliance.
• Grants will also be provided to business development services providers and financial service providers.
• The project will launch at least 6 call windows, with Call I launched on 22nd November 2024, and Call II targeting business development service providers launching in February 2025.

3. INVESTMENT COMMITTEE

The role of the Project Investment Committee (IC) is to support the evaluation of SME grant applications to ensure impartial, effective, and impactful allocation of funds.

• The IC is a decision-making body that reviews, assesses, and makes recommendations for the approval of applications based on the GREENTech4CE operations manual.
• The Committee will consist of five members: one Independent Investment Advisor and one senior member of staff each from the Project Partners (Self-Help Africa, Imani, Prospero, Tandem).
• The Independent Investment Advisor may be allocated to specific calls at the discretion of the Project Team Leader, selected from a pool of 3 advisors based on availability, knowledge, and technical expertise.
• The Investment Committee will be supported by a Compliance Officer to ensure adherence to procedures.
• GREENTech4CE staff’s role is to provide clarity on project proposals when necessary.
• The IC will have the authority to investigate and verify any matter within its terms of reference and seek external professional advice.
• Recommendations from the Investment Committee will form the justification for the award added to the investment memo for final endorsement.
• The Project Technical Committee will endorse the decision of the Investment Committee to finalize the funding decision.

4. TERMS OF REFERENCE FOR THE INVESTMENT COMMITTEE

The Independent Investment Advisors will provide leadership to the Investment Committee in the following areas:

a. Strategic Alignment Evaluation

• Assess whether the SME’s project supports GREENTech4CE Project goals, such as fostering innovation, creating employment, driving digital transformation, enhancing circularity, or promoting sustainability.
• Evaluate applications based on green, circular, and digital sectors and the participation of youth and women-led/owned enterprises in the value chain.

b. Financial and Operational Due Diligence

• Review the financial health of applicant SMEs, including revenue models, cash flow projections, and long-term sustainability.
• Scrutinize grant budget allocations to ensure alignment with the project’s scope.
• Assess the company’s ability to meet co-funding requirements and deliver the project on time.

c. Risk Assessment

• Evaluate risks such as management capability, technological readiness, and supply chain challenges.
• Identify potential risks of grant misuse and assess the adequacy of proposed disbursement milestones.

d. Impact Assessment

• Assess the potential economic benefits of the project, including job creation, increased productivity, and market expansion.
• Consider broader outcomes like environmental sustainability and inclusivity (e.g., support for women-owned or youth-led businesses).

e. Application Review and Scoring

• Adhere to the GREENTech4CE operations manual to evaluate applications based on predefined criteria.
• Compare applications in the Call to prioritize those with the highest potential for success and impact.

f. Decision-Making and Approval

• Provide comprehensive evaluations and recommendations for approval, rejection, or revisions to applications, ensuring transparency and merit-based decisions.

5. ROLE OF INDEPENDENT ADVISORS

The Independent Investment Advisors provide technical leadership support to the Investment Committee in reviewing and qualifying shortlisted applications and recommending investments for approval and funding to the Project Technical Committee.

6. QUALIFICATIONS AND EXPERIENCE OF INDEPENDENT INVESTMENT ADVISORS

Independent Investment Advisors must possess relevant educational qualifications and extensive technical experience in sustainable production in Critical Minerals, Circular Economy, Greening Manufacturing processes, and Technology Innovations, including FinTech. Key areas of expertise include:

• Challenge funds
• SME Business Development Support in Zambia
• Legal and regulatory expertise
• Risk Management, Compliance, and Due Diligence
• Investment Management and Portfolio Diversification
• Impact Investing
• Financial analysis
• Environmental Management

The selection process will be based on the assessment of the motivational letter, resume/CV, and certified copies of educational and professional certificates against the following criteria:

• Level of education (20%)
• Educational level compared to the field of mission (20%)
• General experience (20%)
• Relevant experience to the mission (impact investing, sustainability, etc.) (40%)

7. LEVEL OF EFFORT AND REMUNERATION

The Independent Investment Advisors will be appointed for a 2-year period and will be required to meet for approximately 10 days per call. Remuneration will be EUR 350 per day. Travel and accommodation expenses will be covered by the project.

• Note: Selection to the pool does not guarantee work on all calls, as each call will require only one advisor.
• The Project Team will balance the allocation of work packages.

How to Apply:
Expressions of interest must be received by email at procurement@selfhelpafrica.org no later than Tuesday 31st December 2024, at 17:00hrs local time, and specifically labelled “Independent Investment Advisor”