DIC maintains a register of pre-qualified firms to undertake work on divestiture. The register is divided into the following categories:

• management, financial and business consultants;
• legal firms and consultants;
• merchant banks and non-bank financial institutions;
• surveyors, valuers, estate managers and landed property consultants; and
• chartered accounting firms

Interested persons may inspect the register at DIC’s headquarters during usual business hours.

Principally, the assignments will be:

• to provide advice in a lead capacity in connection with, and ultimately to implement, the divestiture of a state-owned enterprise, SOE;
• valuation of the land and buildings, plant and machinery and other fixed assets of an SOE;
• financial valuation of an SOE;
• preparation of a profile of an SOE in the form of an information memorandum.
  
  

he procedure for selecting consultants depends on the nature and size of the assignment concerned. However, in the case of an assignment to provide advice in connection with, and ultimately to implement, a divestiture, the procedure is as follows:

DIC draws up a shortlist of suitable firms appearing on the register. Short-listed firms are provided with tender documentation. This generally comprises a letter of invitation, terms of reference, supplementary information for consultants and a sample form of outsourcing contract.

Proposals received from short-listed firms must comprise separate technical and financial proposals and contain the information set out in the supplementary information for consultants. Completed proposals will be sealed in two separate envelopes: one envelope will contain the technical proposal, the other, the financial proposal. Proposals must be delivered, by hand or post, on or before the closing date stated in the letter of invitation. Late proposals are not accepted.

A two stage procedure is adopted for evaluating proposals received, with evaluation of technical proposals being completed prior to any financial proposals being opened and compared. Technical proposals are evaluated using the criteria and weightings set out in the letter of invitation. Proposals from only those firms scoring more than seventy points (out of a total of 100 points) for their technical proposals are considered for further evaluation. Financial proposals are also given a score of 100, once again on the basis and assumptions set out in the letter of invitation. Finally, each proposal is given combined score: for this purposes the weights given to the technical and financial proposals are eighty and twenty points respectively.

The winning firm is invited by DIC for negotiations. Negotiations usually start with a discussion of the firm’s proposal, the proposed work plan, staffing and any suggestions made to improve the terms of reference. Agreement is then reached on the final terms of reference and the staffing. Once full agreements has been reached, the outsourcing contract is signed. 

Ghanaian and international firms not currently on the register are invited to register their interest and qualifications to undertake divestiture work.

Interested firms should submit to DIC the following information (as relevant):

• the firm’s full name, address and contact details;
• the date of the firm’s establishment;
• a list of the firm’s directors and shareholders of partners;
• the names and addresses of the firm’s bankers and auditors;
• the firm’s fee income for the last three consecutive financial periods;
• a statement of the firm’s capabilities;
• a statement of the firm’s relevant experience during the last three years, including specific experience in the following areas;
  • divestiture assignments
  • preparation of information memorandum
  • acquisition, flotation, privatisation, finance
  • advisory service/technical assistance to government ministries, SOEs etc.
• the firm’s current number of permanent professional staff, together with curricula vitae of those persons likely to be engaged on any divestiture work undertaken for DIC; and
• the firm’s working relationships, actual or planned, with local or international firms;
  together with a non-refundable fee of, in the case of Ghanaian firms, 100,000 cedis and in any other case, US$200.

Collaborations between Ghanaian and international firms are encouraged.

Applications received will be evaluated by DIC and given a score out of 100, based on pre-set criteria and weightings. Only those firms which score a minimum of 60 points will be entered on DIC’s register of pre-qualified firms. Firms will be advised of the outcome of their applications as soon as practicable after evaluation.

Entry on the Register will be for an initial period of two years from the date of written notification of acceptance. Firms may extend their registration at no fee by providing a full update of capability at two-year intervals. If a registered firm has not achieved a shortlisting for any assignment during the two-year period, and also fails to provide an update, the name of the firm will automatically be removed from the Register.