What Are Africa Business Venture Payment Terms For Projects?

Africa Business Venture (ABV) has been designed to secure a fast and efficient way for clients to engage with consultants, track their project progress and to pay their consultants.

Before starting any project, payment terms must be agreed between the consultant and the client. Upon completion of a project, the consultant will request payment as follows:

  • For projects with a duration of one month or less:
    • Payment shall be made once the project is completed
    • The consultant shall submit a request for payment
    • Upon client approval for work performed, the client shall pay within 30 days
    • ABV will transfer the funds to the consultant within 5 business days less ABV’s commission.
  • For Projects with a duration of a month or more: P
    • Payment shall be made upon completion of relevant milestones or tasks according to the agreement between the consultant and the client
    • The consultant shall manually enter key milestones onto the dashboard and will calculate the amount for each task or milestone
    • Upon completion of the relevant task or milestone, the consultant shall submit a request for payment
    • Upon client approval for work performed, the client shall pay ABV within 30 days. ABV will transfer the funds to the consultant within 5 business days less ABV’s commission.

Payments will be made in GBP, USD or EUR.  We can accept payments in local African currencies if the parties have agreed to do so.  However this will be subject to:

  • All costs related to bank transfer to be paid by the client and the consultant
  • Prior approval from ABV will be required to process the transaction in local currencies

Invoices will be submitted online, on the consultant dashboard or must be sent by email to accounting@africabv.com, with the client name as the reference.  A request for payment will be submitted by the consultant via his/her dashboard.

The invoice must contain the following information:

  • Company Name / Your own name if a sole trader
  • Billing address
  • VAT Number if applicable
  • Company Bank Details including account number, sort code and currency of account / your bank details if a sole trader
  • If a non-UK or non-sterling denominated bank account, please provide the IBAN and SWIFT/BIC number
  • Project reference
  • Summary of time spent and amount requested in the relevant currency
  • Summary of expense amounts requested for reimbursement if applicable
  • Your contact details including email and phone number

Invoices to be addressed to:

Africabv LTD
Registration number 9160389
71-75 Shelton Street
Covent Garden
London
WC2H 9JQ
England

How To Engage With Your Project Delivery Manager?

When upgrading to a Premium plan, a dedicated Project Delivery Manager will be assigned to you and will be in contact with you, by email, within 3 business days to set up a call or meeting. His/her main tasks will include:

  • To help you set up deliverables for your project
  • Facilitate engagement with your consultant
  • To ensure you have an excellent experience with Africa Business Venture

What will be the Main Points of Discussion with my Project Delivery Manager?

We know that exporting your products or services to a new territory may be daunting. When it comes to Africa, we know that success is dependent on the time spent on project preparation.

As such, your first meeting with your Project Delivery Manager will be set to review the following:

  • Africa Business Venture (ABV) platform and the functionalities of the platform
  • Your objectives in full detail with regards to your export projects in Africa

Following on from your first call, your Project Delivery Manager will send you a “Roadmap For Success” plan specifically tailored to suit your needs, with key steps to successfully implement your export project.

Your “Roadmap to Success” plan is instrumental to your success, especially if you do not have zero African experience or you are looking to venture into a new country in Africa.

Starting as an Independent Power Producer in Cote d’Ivoire

“Strategic plan  ‘Vision 2040’ adopted in 2011 with main objective for Cote d’Ivoire to become an industry-driven economy, united in its cultural diversity and democracy and open to the rest of world.”

~ President A.Ouattara

Yesterday we hosted one of our hugely successful monthly webinars and this month’s topic is about “Starting as an independent Power Producer in Cote d’Ivoire”. The guest host for this session was Mr. Toure Sultan Abdoul Karim, who is the Directory of Programming of Public Investments for the Ministry of Planning and Development, Cote d’Ivoire.

In today’s article, we will outline what was discussed.  If you are business owner looking to invest in Africa, this is very much for you.

The Cote d’Ivoire Government has an ambition to become an industry-driven economy that is open to the rest of world.

Cote d’Ivoire:

Cote d’Ivoire new energy policy has the following objectives:

Investments in the energy sector are at the centre of the strategy for Cote d’Ivoire to become an emerging market.

  • To generate sufficient electricity and demand side management
  • To increase installed capacity by approximately 150 MW each year
  • To diversify the generation mix, which currently depends heavily on domestic natural gas
  • To increase participation of independent power producers (IPPs)
  • To improve the institutional framework
  • To restore the financial viability of the energy sector – tariff adjustments and loss reduction

A new energy policy, adopted in 2013 aims to:

  • Increase renewable energy share in national energy mix from 1% in 2015 to 16% in 2030
  • Diversify energy production sources from 80 % fossil fuel and 20 % renewables in 2015, to 66 % fossil fuel and 34 % renewable in 2020
  • To 58 % fossil fuel and 42 % renewable energy in 2030

Foreign companies are invited  to participate via tender process submission and direct approach:

The Public Tender process:

Company independent project submission:

This procedure is mainly used for electrification projects.

In order for you to make a spontaneous proposal to the Ministry of Energy for a planned project, you will need to:

  • Submit a technical and financial offer to Management of the structure of the project
  • The offer will be assessed by the relevant authorities
  • Once approved, a discussion regarding possible clarification and or negotiations will be held
  • From here, a signature of approval by the authorities will mean your project has been approved

Cote d’Ivoire Investment Zones & VAT:

In order to boost investments, an attractive investment regime has been developed.

There are 3 investments zones regimes that have been created with benefits granted for each of them

  • In the investment phase, there is between 40-50% reduction in the amount of custom duties that are paid for equipment, materials as well as first batch of spare parts
  • There is also total exemption from VAT – see below:

Cote d’Ivoire’s Investors Protection:

There are sixteen specific guarantees when you invest in Cote d’Ivoire.  The key guarantees (by Law) we would like to highlight are:

  • You are offered the freedom to invest
  • You have equal rights
  • You have freedom to access foreign currencies
  • You have stability of benefits
  • You will not need to be nationalised and there is no risk of expropriation
  • Your private property is protected

To see full list of investment guarantees, see our full presentation here.

Thank you for your interest in Africa Business Venture, we welcome any questions or enquiries so please do not hesitate to contact us now.

SONIA GALAT

Co-Founder & CEO, ABV