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ENI Region
Assessment of USAID Enterprise Restructuring Activities in ENI
Eccles Associates was contracted by USAID to complete a rapid assessment of enterprise restructuring projects in the Czech Republic, Kazakstan, Macedonia, Moldova, Poland, the Slovak Republic, and Slovenia. The focus of the assessment was to review and compare the objectives and key components of the above projects, with particular reference to the projects in Macedonia, Moldova, and the Slovak Republic, and to provide recommendations for future project design.
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Estonia
Acceleration of Large Scale Privatization
Under a project financed by USAID, an Eccles Associates' investment banking consultant provided technical assistance to the Privatization Agency of Estonia on implementation of the existing tender process. Specific tasks included: analyzing the status of enterprises and their prospects for sale; analyzing the financial condition of enterprises and advising on necessary balance sheet and income statement revisions; and structuring financial arrangements with multiple buyers, including restructuring and division of enterprises. In addition, the investment banker provided negotiating assistance to finalize the tender process for enterprises offered to investors and conducted pro-active investor search efforts to complement the Agency's normal campaign to expand investment opportunities in Estonia.
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Russia
Voucher Auction
Under subcontract on a USAID funded privatization project, Eccles Associates advised the Russian government on development of an effective secondary market and helped establish mechanisms for regulation, including creation and management of a regulatory unit for voucher investment funds that became the first component of the "Securities and Exchange Commission" in Russia. The voucher auction system in Russia served to accelerate the privatization of large scale enterprises throughout the country and facilitated future trading of shares.
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Russia
Registrar Consulting Center
As a subcontractor on the USAID funded Transfer Agency and Registrar Project, Eccles Associates assisted in developing generic procedures, policies and controls for the setting up and running of third party registrars; developing a database of computer software packages for third party registration; and developing educational documentation explaining the requirements of registration.
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Gabon
Feasibility Study and Implementation of Privatization Program
Eccles Associates contracted with the World Bank to study the feasibility of the Government of Gabons strategy to divest the Governments 10% ownership in over 80 companies. Eccles Associates team of advisors assessed various privatization alternatives, considering the objectives to (i) broaden the ownership base with the maximum participation of the general population in the privatization process and (ii) implement a divestiture program that contributes to the future development of the financial market.
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Gabon
Feasibility Study and Implementation of Privatization Program
Eccles Associates contracted with the World Bank to study the feasibility of the Government of Gabons strategy to divest the Governments 10% ownership in over 80 companies. Eccles Associates team of advisors assessed various privatization alternatives, considering the objectives to (i) broaden the ownership base with the maximum participation of the general population in the privatization process and (ii) implement a divestiture program that contributes to the future development of the financial market.
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Zambia
Zambian Privatization Interim Advisors
An Eccles Associates' corporate finance specialist served as technical advisor to the Zambian Privatization Agency's company negotiation team and was responsible for assisting to define negotiation strategy, to ensure that privatization guidelines were effectively communicated, understood, and implemented and for facilitating the privatization process so that set goals were accomplished. The specialist successfully developed negotiating strategies, established value ranges for parastatal companies to be privatized, derived starting price and floor price for negotiations with minority shareholders, calculated starting price per share and floor price per share, presented negotiation strategy alternatives to the ZPA negotiation team, devised employee discount per share pricing schemes to promote employee participation, and assured broadest public ownership through application of public floatation strategies.
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Zambia
Zambian Privatization Support Project
Eccles Associates was a key part of the consortium supporting the Zambia Privatization Agency by providing technical assistance and in-country training support for the Government of the Republic of Zambias initiative to plan and implement the privatization (divesture) of state-owned enterprises. An Eccles Associates finance specialist provided technical advice to the ZPA on mode of sale; valuation methodologies; privatization, flotation, and negotiation strategies; and setting privatization timetables for designated companies.
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Ecuador
Support of Privatization and Modernization of Economy
Eccles Associates consulted on a multi-faceted program to support the Government of Ecuadors decentralization, privatization and modernization of state program.
· Designed and implemented participatory workshops to promote public understanding and positive perceptions about private sector participation in the delivery of public services, and the process of decentralization and modernization of state.
· Trained participants and facilitators in workshop methodology (train-the-trainers); the model is a consensual decision-making process. Completed stakeholder analysis and selected participants from a broad cross-section of the society.
· Assessed and evaluated the performance of CONAM, the national institution responsible for Ecuadors economic liberalization program.
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Honduras
Hondutel Privatization
In support of the Government of Honduras' privatization program and focussing on the Honduran Telephone Company, Hondutel, Eccles Associates worked as a subcontractor on a USAID assistance project. Eccles Associates conducted a review of the Telecommunications Regulatory framework to assess such issues as licensing new enterprises, market enforcement of investment requirements, monitoring sector performance and market structure, overseeing settlements between carriers,addressing complaints from service providers and end users, and implementing and enforcing policies. An Eccles Associates' telecommunications engineer was responsible for (i) drafting provisions to establish network and equipment technical standards; (ii) reviewing the technical valuation of Hondutel based on antiquity of equipment; and (iii) estimating actual equipment cost, present value and life expectancy, including outside plant installation, inside plant equipment, multiplex carriers, central office exchanges, radio microwave equipment and satellite terminals.
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Jamaica
Jamaican Water Privatization Project
Under subcontract, Eccles Associates joined a team on an USAID project to analyze the privatization process of the nation's water and sewer industry and recommend an optimal industry structure and regulatory framework. Eccles Associates surveyed each key financing agency to the Jamaican water/wastewater sector; analyzed the public and private financing plans for this industrial sector; and evaluated potential financing sources, such as debt and further development assistance, to clarify the optimal privatization scheme.
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Nicaragua
Nicaragua Telcomm. Privatization Project
Under an USAID project, Eccles Associates joined a project team to complete a technical review of Nicaragua's Telephone company (Telcor). The task was to examine the telephone network and prepare documentation containing a description of the equipment and installations and compute an approximate value for the equipment given their age and condition. An Eccles Associates' telecommunications engineer analyzed the performance of the network, including factors such as: Mean Time To Repair (MTTR), Mean Time Before Failure (MTBF), availability, Busy Hour Call Attempts (BHCA), route dimensioning, traffic routing, capacity expansions and corrective observations.
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Art by: Dumisani Sibisi |
