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ACCELERATE PROSPERITY

Accelerate Prosperity (AP) is a global initiative of the Aga Khan Development Network (AKDN) in Central and South Asia, which follows guidance from the Aga Khan Foundation (AKF) Board to develop more formal structures to catalyze enterprises within AKDN’s main area development programs, where economic opportunities remain insufficient. Through patient capital and tailored business advisory to startups and businesses, AP complements broader employment-related programs of AKF and draws significantly on technical expertise from the Aga Khan Fund for Economic Development’s (AKFED) Industrial Promotion Services (IPS), and coordinates efforts with the AKDN’s financial institutions, the University of Central Asia and many other national partners.

AP’s approach combines financial and non-financial support, recognizing that standalone business development services and traditional bank financing are inadequate to catalyze start-ups, grow small firms, and deliver job creation in fragile and emerging markets, particularly for marginalized groups in rural areas. The overall theory of change is that with improved business models, investment readiness along with tailored financing bundled with commercial and B2B linkages driven by the private sector, the supported businesses will be equipped to unlock private sector investments, sales, and growth, leading to increased incomes and job creation.

PURPOSE OF ENGAGEMENT

As a part of AP’s post-investment technical assistance services to startups and SGBs, AP aims to enable businesses develop and/or fine tune their financial and business decision making and accounting to make them investor ready for any external financing round.

This project aims to take advantage of available financial management solutions that will help founders of AP portfolio businesses make informed decisions, optimize financial performance, and drive growth and scalability in the long-term.

Accelerate Prosperity has a portfolio of startups and small and growing businesses (SGBs) working in different sectors across Pakistan. We require a consulting firm to provide business and financial intelligence services for selected AP businesses to help them track their finances easily, get access to real-time insights that enable data-driven decision-making, and monitor the health of their business. This should be carried out through a mix of technology as well as human engagement, accounting support, tailored training and advisory.

TARGET AUDIENCE:

A total 10 businesses (including both startups and SGBs) who generate decent cash flows, have daily transaction volume is low, and utilize mostly mobile wallets or personal bank accounts, but are now looking for additional KPIs and depth around financials and who additionally require audit-ready reports for compliance processes.

KEY OUTCOMES

This financial and intelligence solution should ideally enable founders/entrepreneurs of AP portfolio businesses to:

• Monitor the health of their business
• Learn about key business and financial metrics and improve decision making.
• Comply with financial reporting for tax compliance
• Record financial and accounting data including, receipts, invoices and contracts, as digital vouchers.
• Have access to real-time accounts and finance dashboards
• Have visibility into their business via key metrics tracking
• Access monthly auditable accounts
• Access custom reports that include aged debtors and inventory reports.

Accounts Bookkeeping

• Accounting records under applicable international financial standards supported by reliable and relevant evidence & vouchers.
• Preparation of key financial statements e.g., Statement of Profit & Loss, Balance Sheet and Cash Flow Statement.
• Audit ready financials, to be used by any external auditors or Accelerate Prosperity’s investment team.

Business and Financial Intelligence Reports and Risk Monitoring

In liaison with AP`s Investment Team, conducts financial analysis and risk monitoring of 10 AP portfolio businesses (startups and SGBs) in the form of monthly reports and financial dashboards.

The consulting firm is expected to deliver:

Financial Statements

• Prepare monthly accounts (bookkeeping) for 10 businesses.
• Prepare monthly financial statements (Profit & Loss, Balance sheet & Statement of Cash Flow) at end of each quarter of each business.

Business and Financial Intelligence Reports (Risk Monitoring)

• Prepare monthly dashboards and detailed business and financial intelligence reports for 10 businesses.

PROPOSED TIME PERIOD

Engagement is expected to start by 15^th October 2023. The contract will last for 12 months (with the possibility of extension).

DELIVERY METHOD

• It is upon discretion of appointed firm to visit the businesses weekly, monthly, or quarterly, they will be having liberty to choose whichever mode of communication they want to prepare the financial and business intelligence reports.
• Accelerate Prosperity will have access to the individual business reports and financial statements in the form of data rooms created by the firm.

PAYMENT TERMS

The Accelerate Prosperity Investment Team will oversee the consulting firm’s work on an ad-hoc basis. The firm will be compensated for expenses incurred on pre-agreed payment terms. If the team finds any omission or inconsistencies in the bookkeeping or accounting records of any selected business, the payment will be subject to delay or cancellation until such inconsistencies are rectified.

Payment will be made on a per unit (business) basis after submission of required deliverables for that business as per the below schedule:

KEY CAPACITIES REQUIRED

The required capacities include:

• Consulting firm with a team holding expertise and significant experience in financial accounting/bookkeeping, financial modelling, developing financial statements, investment analysis and valuation experience along with technology experience regarding automating manual accounting process for better analysis and insights.

Profile of Team Member(s)

• Bachelor’s or preferably MBA/ Masters/ CA/ ACCA along with relevant professional certification
• At least 5 years of experience in mentoring startups regarding financial and business acumen and decision making and well as account bookkeeping, developing financial statements, investment analysis, preferably in a financial institution and/ or investment or brokerage house in a senior role.

ELIGIBILITY REQUIREMENTS

Only firms which are registered with SECP are eligible to apply.

APPLICATION REQUIREMENTS

Please submit the following to apply for this consultancy:

• Details of experience and expertise regarding the “Key Capacities Required” for this consultancy mentioned above.
• Financial quote, gross figures inclusive of all kinds of costs and taxes.

DEADLINE

06th October 2023, 17:00 PST

MODE OF SUBMITTING APPLICATIONS

Please send your financial and technical proposal and detailed profiles in a sealed envelope via courier at the following postal address:

Manager Finance & Administration

Accelerate Prosperity Space, Professional Development Center North (PDCN), The Aga Khan University Konadas Gilgit, G-B Pakistan.