Manager
Grant Thornton
Total years of experience :11 years, 7 Months
I have led and carried out the
folloiwng assignments:
• Business valuation of a garment factory and pharmaceutical producer. The
scope included macroeconomic analysis, high-level sector review,
preparation of financial models and valuation based on income approach,
i.e., Discounted Cash Flow method
• Ten financial due diligence investigations on an edible oil and animal feed
manufacturer, a malt factory, crown cork factory, gypsum producer,
gypsum distributor FMCG manufacturer, a soap and detergent
manufacturer, an FMCG manufacturer and realestate. The key activities
carried out included analysis of:
― The target companies’ budget and financial forecast
― the target companies’ business model;
― the quality of the target companies’ historical earnings through
analysing the relevant revenue and cost drivers and their
sustainability;
― the quality of assets which included analysis of the property plant and
equipment, quality of working capital and net debt;
― the cash flow; and
― The target companies’ management, controls and information
technology
I was the key resource
person from planing to the exectution and report preparation of the
following projects:
• Business valuations of manufacturing companies in Ethiopia for a
global investors.
• Business valuations of a port and logistics related company in East
Africa using DCF method and Market Multiples approach
• Feasibility studies of two hotels and a cement production projects
in Ethiopia. Key activities carried out in the course of these
engagements were:
― Overview of the macro-economic environment with a focus on
Ethiopia using PESTEL analysis;
― Industry review including supply, demand and competition,
value chain, price and SWOT analysis; and the financial;
― Develop financial projections;
― Scenario/sensitivity analysis (flexing of the assumptions
used); and
― Investment appraisal using IRR, NPV and Pay Back techniques
• More than 20 financial due diligence investigations on various
FMCG, dairy processing, and trading companies in Ethiopia for
various global investors and a Development Financial Institution.
The key activities carried out included analysis of:
― the companies’ business models
― the quality of the target companies’ historical earnings
through analysing the relevant revenue and cost drivers and
their sustainability
― the cash flow
― the quality of assets which included analysis of the property
plant and equipment, quality of working capital and net debt;
and
― the companies’ management, controls and information
technology
• Financial due diligence of a port and logistics company based in
East Africa with investment size of USD 300m
• Commercial due diligence of a dairy processing company in Ethiopia
with a scope included:
― Macroeconomic analysis of Ethiopia using PESTEL framework,
― review of the Ethiopian dairy sector,
― operational analysis of the company, and
― evaluation of growth options and financial the forecast
• Market studies on various industries in East Africa including FMCG,
construction materials, healthcare and real estate development
courses such as cost and management accounting, financial
accounting and financial management to undergraduate students
4. Construction and Business Bank
advising various multinational
companies and international NGOs on the Ethiopian tax system and
providing tax compliance and accounting services to various clients.
Moreover, I have developed accounting system for United States
Pharmacopeial Convention (USP) Ethiopia, a scientific nonprofit
organization that sets standards for the identity, strength, quality,
and purity of medicines, food ingredients, and dietary supplements
manufactured, distributed and consumed worldwide, and Dutch
agribusiness consultancy company registered in Ethiopia; and
prepared finance policies and procedures manuals to two import
export companies in Ethiopia.
I was the key resource from planing to the execution
and report preparation of the following projects:
• In a project working on development of resource mobilisation strategy for
African Union Commission, I prepared financial forecast for the alternative
resource mobilisation strategies that our project suggested
• Business valuations of a hospital, a pharmaceutical and a steel
manufacturing companies in Ethiopia with the purpose of selling shares to
potential investors. The key activities performed were macroeconomic
analysis, high-level sector review, preparation of financial models and
valuation based on Discounted Cash Flow approach, and Market Multiples
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