Appointment of an Individual Consultant – Financial Management Specialist
The Government of Lesotho (GoL) has received funding from the IDA World Bank and the SREP for the Lesotho Renewable Energy and Electricity Access Project (LREEAP) amounting to US$ 52.9 million. The objective of the project is to increase access to electricity in rural and peri-urban areas of Lesotho. The project will accelerate electricity access along two dimensions: (i) grid extension to economic development zones in peri-urban areas, and (ii) the deployment of mini-grids to reach rural and remote communities. The LREEAP demonstrates the GoLâ€™s commitment to advance the electrification agenda and the implementation of the Lesotho Energy Policy 2015 â€“ 2025 by supporting the provision of off-grid electricity services as well as grid electrification of economic zones to enhance job creation.
1.1 Overview of components
The Lesotho Renewable Energy and Energy Access Project (LREEAP) is a 7-year World Bank funded project implemented by the Ministry of Natural Resources through the Department of Energy (DoE) and the Lesotho Electricity Company (LEC) . The project is financed through IDA loan amounting to $40million, SREP Loan $ 8.00 and SREP Grant $4.9. The financing agreement for the project was signed on the 13th March 2020 and the project gained its effectiveness on the 31st July 2020. The project is in its third year of implementation.
2. Objective of the assignment
For the implementation of the above-mentioned sub-components, LREEAP wishes to engage a Financial Management Specialist on a full time, three (3) years fixed contract to Project Implementation Unit (PIU). The successful applicant will, manage all financial aspects under the project and adhere to good practices and governance, in strict accordance with the LREEAP financial management agreements and guidelines as well as the Financial Management Principles of the GoL and the World Bank.
For the implementation of the above-mentioned sub-components, Ministry of Natural Resources through the Department of Energy wishes to engage a Financial Management Specialist to assist the LREEAP Project Implementation Unit (PIU).
The main objective will be to manage all financial aspects and processes of the LREEAP in line with Government Procedures in close coordination and collaboration with MNR finance division.
2.1 Scope of services and responsibilities:
- Coordination and preparation of the project budget for approval by authorities
- Prepare financial management progress reports on project funds
- Process payments for all related project expenditure
- Establish proper financial accounting and control systems for the project
- Prepare quarterly unaudited Interim Financial Reports (IFRs) for the project accounts
- Ensure implementation of World Bank and Government of Lesotho principles of budgeting, accounting, auditing and financial management are fully integrated
- Review audited financial statements received, monitor the borrowersâ€™ compliance with financial covenants including audit compliance.
- Prepare the projectâ€™s annual accounts and financial statements within 3 months after the end of the accounting
- Facilitate day to day work and activity level implementation of financial resources
- Keep separate account for Government contribution, loan, and grant of each sub-project
- Ensure accurate and timely report submission and to ensure smooth flow of funds from financier to contractor/suppliers
- Facilitate the Auditor with the necessary documentation as may be required during the project audits
- Report directly to LREEAP Coordinator
2.2. Reporting Requirements:
- Financial progress reports, Disbursement reports, Timely audit reports and Project Completion reports (Finance section)
2.3 Selection criteria
The selected candidate should have part of or totality of the following skills and experience:
- Minimum Bachelor â€˜s Degree in Accounting or Financial Management, a Professional Accounting Certificate (CA, ACCA) is an added advantage.
- BCom in Accounting, Finance, business administration or a related discipline
- At least seven (7) years of work experience in similar field. Experience in infrastructure investment projects or energy sector is an added advantage;
- Minimum five (5) years relevant experience or knowledge of the implementation of projects funded by International Financial Institutions;
- Proven experience in operationalizing financial and accounting standards;
- Knowledge of relevant financial policies of major donor agencies (e.g., World Bank) and Lesotho national financial policies;
- Demonstrated experience in supervision of financial audits;
- must have a driversâ€™ license with at least 5 years driving experience
- Proven computer skills and use of accounting softwareâ€™s such as TOMPRO; PASTEL
- excellent reporting skills
2.4 Personal attributes:
- excellent interpersonal and intercultural skills
- methodological and disciplined approach to work
- independent decision making within field of expertise
3.3 Duration and location of assignment
LREEAP wishes to engage the Financial Management Specialist on a full-time basis for a period of Three (3) years. Expressions of interest must be delivered in a written form to the address below (in person, or by mail, or by e-mail) by 2023/10/27 at 1200 noon SAT.
NB: Application MUST be accompanied by detailed Curriculum Vitae (CV), certified copies of educational certificates and transcript and certified Identification (ID)
Lesotho Renewable Energy and Energy Access Project (LREEAP)
Attn: John Neo Lekhotla- Procurement Specialist
Corner Koekoe and Manong Rd, New Europa
House Number 242
Maseru Central Lesotho
Tel: 00266 580 44 104/ 00266 2232 5422