TENDER NOTICE

TENDER TITLE: Request for proposals for share determination

CLIENT: DUHAMIC-ADRI

The deadline for submission of bids: Monday November 25, 2024

Bid submission Time: 10:00AM

Bid Opening Time: 10:30AM

Introduction

DUHAMIC-ADRI is a National Non-Governmental Organization operating in Rwanda since 1985 with a vision of “A rural world, responsible for its self-socio-economic development” and a mission of “Supporting integrated development through the initiatives of the rural population in their struggle for Self-development”. DUHAMIC-ADRI was legally recognized by the Ministerial Order N^o 943 of 12^th July 1985. Its statutes were modified and recognized by the Ministerial Order No 025/11 of 21^st March 2005. Subsequently, DUHAMIC-ADRI has fulfilled all requirements for compliance with the new law N° 04/2012 of 17/02/2012 governing the organization and the functioning of National Non-Governmental Organizations and received an NGO registration Certificate from Rwandan Governance Board (RGB) on 17/06/2013.

SOSOMA Industries Ltd is a Limited liability Company incorporated in Rwanda on November 1^st, 2008, registered as a Domestic Company n° 101767471 with an Investor Certificate N°C/658/2009 with share capital of « Sixty million five hundred and thirty thousand Rwandan Francs (=60,530,000=FRW) » represented by 6 053 shares of ten thousand Rwandan Francs (10 000 FRW) each. DUHAMIC-ADRI is the majority shareholder with 94.17% of total shares.

SOSOMA Industries Ltd principal business is to manufacture various brands of human foods using maize, sorghum, soya, vitamins and minerals as main raw materials and sells nutritious high-quality products especially to infant, young and elder people including pregnant women, vulnerable people such as people affected by humanitarian crisis, chronic diseases.

The Vision of the company is to be a leader in provision of safe, quality nutritious foods towards elimination of malnutrition in the region.

DUHAMIC Training Center DTC Ltd is a company created on September 19^th, 2022, and was established for commercial purposes to provide training services, capacity building, and organizing recreational and leisure activities through contribution, subscription, or any other means in any other enterprise whose purpose would be similar, related, or simply useful to the achievement of all or part of its social object. 

DUHAMIC Training Center Ltd is a limited liability company with a share capital of Five hundred eight-six million and three hundred thousand Rwandan Francs (586,300,000 FRW), represented by 104,300 ordinary shares and 480,000 redeemable preference shares of one thousand Rwandan Francs (1,000 FRW) each. DUHAMIC-ADRI is the majority shareholder with 98.77% of total shares.

DUHAMIC-ADRI is seeking proposals from qualified firms to calculate the share price of SOSOMA Industries Ltd and DUHAMIC Training Center DTC Ltd.

The stock pricing of these companies should be conducted in accordance with generally accepted accounting principles (GAAP).

Scope of assignment

The valuation expert shall calculate the value of the shares of the two companies. During the engagement, the valuation expert should report:

• The stock valuation methods used to estimate the value of the stock and the reason which led to their choice
• The detailed estimates used to calculate the value of stocks such as rate of return, constant growth rate in perpetuity expected, projected earnings per share etc.
• The types of adjustments made in calculating the value of shares
• Other factors considered such as economic conditions, strength of the competition, changes in consumer preferences, management changes, etc.
• And all relevant information

Proposal Requirements

The selected firm is responsible for ensuring that it has all information necessary prepare its proposal and for independently verifying and informing itself with respect to any terms and conditions that may affect this proposal.

The firm must declare any real, potential or apparent conflict of interest related to working on this project in their submission.

Acceptance of Proposal

DUHAMIC-ADRI reserves the right to reject one or all the proposals or to accept the proposal(s) deemed most favorable to DUHAMIC-ADRI. All proposals must include a statement of authority to submit a proposal signed by an official representative of the vendor.

Following the evaluation of the submitted proposals, DUHAMIC-ADRI may consider entering negotiations for a contract with any potential vendor that it believes best meets the needs and expectations and offers the best content and overall value.

DUHAMIC-ADRI reaffirms its right to make any selection it deems prudent, and the responding companies or individual participants acknowledge by their participation that such selection is not subject to protest or challenge. Duhamic is not obliged to negotiate with the lowest costs or with any supplier.

Submissions

The technical and financial proposals shall be submitted at DUHAMIC-ADRI Secretariat no later than Monday November 25, 2024 at 10:00 AM while opening session will be scheduled at 10:30 AM in which bidders are encouraged to participate.

DUHAMIC-ADRI reserve its right to negotiate the price reduction or reject all offers for unreasonable costs or beyond available resources.

Composition of the technical proposal

The technical proposal must include and address the following but not limited:

• A motivation letter addressed to DUHAMIC-ADRI Executive Secretary;
• An overview of the company and assessment team, including company and team capabilities (Identify the persons) who would be involved in the mandate, their proposed role on the project, and their experience and qualifications to fulfill that role), their CV and degrees;
• The company should be a member of the Institute of Certified Public Accountant Rwanda ICPAR
• The team leader should be a Certified Public Accountant CPA with at least 10 years’ professional experience and should be a member of the Institute of Certified Public Accountant Rwanda ICPAR and team members should be CPA or hold master’s degree in finance or related field with at least 5 years’ professional experience)
• Demonstrate understanding of the scope and provide a description of company’s abilities related to valuation services.
• Proposed work plan and timeline for the evaluation
• Indicate the company’s ability to meet the timelines as set out herein (Provide a proposed timeline for each component of the project services to be provided).
• Provide a detailed description of the company’s proposed valuation strategy, its processes and deliverables (Include the methodology and approaches that would be used in carrying out the mandate).
• Provide at least 3 certificates of good completion of similar services performed
• Include client references (names, phone numbers and email addresses) who may be contacted to confirm the satisfactory delivery of service by key team member(s) on previous assignments.
• Provide RDB registration certificate; RRA tax clearance certificate; VAT Certificate; Proof of use of EBM (electronic billing machine) for invoice; RSSB certificate of clearance
• Provide a statement declaring that the firm has no conflict of interest.

Composition of the financial Proposal

• The detailed estimated cost
• The proposed cost should include all related taxes and any other associated cost with the valuation process
• Proposal of payment instalment (no advance is allowed)

Mandatory Requirements Check

Submissions that do not include the above information may be rejected

Evaluation Process and Criteria

The evaluation process to determine the successful supplier(s) will involve both qualitative and quantitative elements. Proposals will be reviewed and ranked according to the following criteria and scored out of a total of 100 points as follows:

For further details or more clarifications please contact: 0788305329 or via email: procurement@duhamic.org.rw

Done at Kigali, November 15, 2024

MUHIGIRWA Benjamin

Executive Secretary