Recent Projects

SSNIT VALUATION OF UNLISTED EQUITY PORTFOLIO

This project involved the valuation of the unlisted equity portfolio equity of SSNIT. We carried out valuations of the following companies:

• First Atlantic Merchant Bank Limited
• Tema Lube Oil Company Limited
• Securities Discount Company Limited
• NTHC Limited
• Ghana Venture Fund Limited
• Vanef STC Limited

The project assisted SSNIT to establish the market value of its investment portfolio.

MANAGEMENT AND FORENSIC AUDIT OF TEMA OIL REFINERY LIMITED

The project was part of the Government of Ghana’s objective of improving transparency, ensuring accountability and identifying measures to improve the efficiency and effectiveness of Tema Oil Refinery Company. The project had two components: 1) a forensic audit into suspected malfeasance and 2) a management review to identify deficiencies in systems and procedures. SEM undertook a review of the following aspects of TOR’s operations

• Effectiveness of the organization and key management
• Management’s risk assessment process
• Reliability of overall financial reporting
• Awareness of compliance with laws and regulations
• Role of Board of Directors
• Role of Internal Audit
• Human resource policies and procedures

A comprehensive report of the findings and recommendations for dealing with deficiencies was prepared for the client

STANBIC INDUSTRY STUDIES

The objective of this project was to undertake studies of six key industries in Ghana to assist the bank in developing products and services. Industries covered by the study were:

• Commodities


• Financial Sector


• Manufacturing


• Mining


• Wholesale and Retail Distribution


• Public Sector and Parastatals


• Services

GENERAL LEASING & FINANCE COMPANY (GLFC)

The project involved a strategic review of GLFC and the preparation of a growth and expansion plan.

• researched and documented the current state of the company and industry;


• developed a strategic and management plan;


• conducted feasibility studies on several financial service products and prepared plans for the implementation of new services.

COUNTRY DEVELOPMENTS CONTRACTS – KUMASI CENTRAL MARKET PROJECT

SEM is the financial advisor for the Kumasi Central Market Project, a major reconstruction and expansion of the largest market in the Ashanti region. SEM’s advisory activities cover the following:  

• Preparation of project feasibility study


• Designing of a Build, Own, Operate and Transfer project structure


• Design of project finance structure


• Preparation of Offering documents for lenders and equity investors


• Negotiating with architects construction companies


• Negotiating with lenders and equity investors


• Supporting the due-diligence of investors