BACKGROUND
The Government of Lesotho (GoL) is committed to fight poverty, accelerate economic growth and improve the welfare of the Basotho. In 2004, GoL launched the National Vision 2020, which outlines the overall national development framework that defines the aspirations of the people of Lesotho. The 2005-2008 Poverty Reduction Strategy (PRSP) attempted to translate National Vision 2020 into actions which would accelerate inclusive economic growth. One of the four pillars of the PRSP is private sector development (PSD), which when implemented would lead to equitable economic growth and rapid employment creation. The National Strategic Development Plan (NSDP) 2012/13 – 2016/17 builds upon the PRSP. Similarly, the NSDP embraces increased private sector participation in the economy, with specific emphasis on improved business environment; support for productive sector to diversify the economy; and greater participation of MSMEs in the formal economy.
In December 2016, the African Development Bank (AfDB) approved funding to finance the Economic Diversification Support Project (EDSP) with the aim to support government’s efforts to create jobs and promote inclusive growth through enhanced economic diversification and strengthened enterprise development. The specific objective of the Project is to support private sector development through improving partnership, entrepreneurship and skills development, and investment promotion in the selected sectors critical for economic diversification. The Project has three mutually reinforcing components: (i) enhancing economic diversification; (ii) promoting enterprise development; and (iii) project management support.
The EDSP will be coordinated by the existing Project Management Unit (PMU) under the overall guidance of the Ministry of Trade and Industry to ensure efficient coordination, complementarities and avoid project implementation start-up delays. One of the key position within the PMU is that of the project accountant.
OBJECTIVE OF THE POSITION
The objective of the Project Accountant’s position is to assist the Financial Manager in ensuring the proper maintenance of adequate financial management arrangements to support the deployment of project resources in an economic, efficient, and effective manner to achieve the desired objective. This will be through executing the financial management function of the Project, in terms of accounting, disbursements, financial reporting and auditing; under strict deadlines and standards as set out in the Donor’s Guidelines and Financing Agreements.
SCOPE OF WORK
- Assist in preparation of annual and quarterly work plans and budgets, and producing reports on the analysis of planned and actual expenditures, for both Donors and GOL.
- Ensure that appropriate accounting internal control systems and processes are put in place to facilitate financial monitoring and control of expenditures and budgets including their regular update as necessary to cover fund administration, disbursements and payments
- Ensure that all payments for the Project are made in accordance with amounts budgeted and approved, and that they comply with Credit / Grant Agreements; and the accounting procedures and guidelines.
- Prepare and ensure that payment vouchers are adequately supported with appropriate documentation, and duly authorized for payment.
- Ensure that Special Accounts are maintained at adequate levels to enable scheduled payments, and assist in preparation of timely Withdrawal Applications for the replenishment of the Special Account; as well as Direct Payments where necessary
- Record and update financial transactions in the accounting system to ensure proper reporting, audit trail and filling.
- Collect bank statements and prepare monthly reconciliation statements of all bank accounts, and Credit/Grant drawdowns, for review by Financial Manager.
- Accurate recording of all Projects’ fixed assets and tagging, and ensuring the Fixed Asset Register is updated and reconciled on a timely basis.
- Liaison with suppliers on the issues concerning payments, MTI Financial Controller, and Ministry of Finance (Treasury Dept and Debt Management) to follow up on disbursement requests.
- Assist in preparation of monthly statement of expenditure reports, quarterly interim unaudited financial reports, and annual financial statements.
- Assist the Financial Manager in preparation for the Internal and External Audits of the Project.
- Ensure that accounting policies, procedures, guidelines and ethical business practices are adhered to at all times in the conduct of business.
- Coordinate with external auditors on audit report submission and follow up of audit recommendations, and
- Any other duties as may be assigned to him/her from time to time by the Project Manager and/or Executing Agency
QUALIFICATIONS AND EXPERIENCE
- A Bachelor’s Degree in Accounting, Finance, or Business Administration or equivalent.
- A minimum of two years relevant experience working in a multi Donor funded Project, especially the African Development Bank and the World Bank.
- Knowledge of FINPRO/TOMPRO will be an added advantage.
- Computer literacy and familiarity with accounting packages and demonstrated proficiency in Microsoft Word and Excel
- Demonstrate sound understanding of international and local accounting and reporting standards.
- Proven track record in working effectively within multidisciplinary teams.
- Excellent interpersonal and communication skills, and be fluent in English
- Ability to work independently, takes initiative, and work under pressure.
TIMING
The Consultant will be required to work full-time on this assignment from date of signature for a period of 3years with possible extension.
SUBMISSION
The Government of Lesotho now invites eligible Individual Consultants to indicate their interest in providing the services by submitting an application letter and detailed curriculum vitae.
Establishment of the short-list and the selection procedure shall be in accordance with the Procurement Policy and Methodology for Bank Group Funded Operations, dated October 2015, which is available on the Bank’s website at http://www.afdb.org.
Interested individuals may obtain further information at the address below during office hours 08.00 hours to 16.30 hours.
Interested candidates must deliver their application letter and Curriculum Vitae to the address below by 24th February, 2017.
Electronic submissions of application letters and detailed curriculum vitae (using a single pdf or other protected file) are also encouraged and applicants should include as the subject message “PROJECT ACCOUNTANT” and should be sent to tmofelehetsi@psc.org.ls.
Only shortlisted Individual Consultant will be contacted.
The Project Manager
Economic Diversification Support Project 1st Floor ‘Matanki House
P.O. Box 747,
Maseru 100 Lesotho
Tel.: (+266) 22 315 100
