TERMS OF REFERENCE FOR THE SKILLS ASSESSMENT OF THE BOARD OF DIRECTORS
BACKGROUND
The Basotho Enterprises Development Corporation (BEDCO) is a parastatal of the government of Lesotho that was established by an Act of Parliament: BEDCO Act No.9 of 1980 (as amended) mandated “to promote the development of Basotho-owned enterprises and of indigenous entrepreneurial skills and for connected purposes.”
BEDCO performs the following functions towards fulfilment of its mandate.
• Facilitation of the establishment and growth of MSMEs.
• Promotion and entrenchment of an entrepreneurial culture in Lesotho.
• Facilitation of the establishment of incubation services.
• Advocacy for an enabling regulatory framework and appropriate licensing regime for MSME.
• Enabling access to finance and markets.
The affairs of the Corporation are managed and controlled by a Board of Directors appointed by the Minister of Small Business Development, Marketing and Cooperatives. The Hounorable Minister appointed eight (8) Board Members in June 2021. The Corporation has identified the need to carry out a skills assessment of the Board of Directors and develop a comprehensive capacitation plan based on the skills assessment.
OBJECTIVE
The objective of this Consultancy is to carry out on behalf of the Corporation a skills assessment of the Board of Directors in order to build a high performing Board that delivers significant value to the Corporation.
SCOPE OF WORK
This skills assessment will be carried out on the eight (8) BEDCO Board Members and the Corporate Secretary. The specific scope of work
will include the following:
a) Conduct the skills assessment to identify the skills and knowledge that the BEDCO Board of Directors requires and currently has.
b) Conduct the skills assessment to identify the skills gaps and recommend training and skills development interventions for the BEDCO Board of Directors.
c) Generate, present and consolidate skills assessment report and recommendations.
EXPECTED OUTPUTS
a) Skills assessment report with the detailed methodology for carrying out the said skills assessment including tools, timelines and milestones.
b) Presentation of the report to the Nomination and Remuneration Committee.
SKILLS AND QUALIFICATIONS:
The Corporation is seeking an experienced Consulting firm or individual with demonstrated experience in conducting Board skills assessment.
The incumbent must be highly skilled and experienced with the following:
a) At least 10 years’ experience in institutional governance matters:
b) A clear understanding and experience of corporate governance requirements.
c) The ability to conduct Board skills assessment
d) A proven ability to work with high level members of boards.
TIME-FRAME
The assignment must be completed within one (1) week.
RESPONSE REQUIREMENTS
Interested parties are asked to submit the capability statement, CVs, cover letter, samples of similar assignments to [email protected] with a copy to [email protected] by close of business on 30th June 2022.
The consultant is required to define the methodology and tools to be applied in addressing the scope of work and provide an indicative work plan to carry out the assignment and a financial proposal.
The consultant is also required to provide three references where similar work has been conducted. The years in which the assignments were carried out should be clearly indicated. Experience sites should be of work carried out within the past 10 years.