Call for Expression of Interest (EOI) on Due diligence on investments to mitigate IFFs risk
Consultancy, Research Jobs
Job Description
Due Date: 14 March, 2026
Background
A public interest environmental law organization is looking for a consultant to carry out a research on analysis of Zimbabwe Investment and Development Agency (ZIDA)’s Due diligence on Investments and its ability to sift IFFs risks. The National Development Strategy (NDS2) 2026-2030 concedes that the prevalence of leakages, smuggling and illicit financial flows (IFFs) undermines fiscal revenues and constrains the development impact of the mining sector. According to the High-Level Panel (HLP) on IFFs from Africa, the main divers of IFFs are secretive and lopsided mining agreements, abusive transfer pricing, under invoicing, smuggling and corruption. The International Monitoring Fund (IMF) attribute leakages in the mining sector to two main factors. First, the race to the bottom. A situation in which countries try to attract inbound investment by lowering tax burdens, which has stoked unhealthy regional tax competition. Second, international profit shifting that has reduced the tax base in producing countries. For instance, nearly half of FDI inflows into SSA mining come via third country investment “hubs” (that is, countries with very high FDI to GDP ratios) which, when combined with light taxation of these conduit investment entities, are conducive to profit shifting.
Mining continues to be the main target for Foreign Direct Investment (FDI) flows into the country. This position the Zimbabwe Investment Development Agency (ZIDA) to play an upstream role is mitigating IFFs risk when approving investments, mining included. The main objective of the research is to carry out an analysis of the due diligence on investments to mitigate of ZIDA and interrogate the extend to which oit sifts IFFs risks. Due diligence on investment to filter illicit financial flows risks (IFFs). ZIDA’s diligence framework on investors will be reviewed to incorporate IFFs including capacity to monitor investments on the same risks through training. IFFs risks that could be identified at investment stage include treaty shopping – international investors that exploit double taxation agreements to set up shelf companies; use of complex structures to domicile the beneficiary company in tax havens; beneficial ownership; and thin capitalisation risks – capital structured to be lopsided in favour of debt financing at exorbitant finance costs. Income from debt financing is exempted from tax while equity investments attract corporate income tax and withholding tax on dividends.
Duties and Responsibilities
Specific objectives
• Participatory review and strengthening ZIDA’s due diligence framework on investments on issues related to IFFs risk.
• Enhance the capacity of ZIDA to mitigate IFFs risk associated with investment.
Proposed Methodology
Literature review to pick lessons from like minded institutions is SADC, Africa and internationally. The desk review will also include an understanding of contextual factors – risks and opportunities for curbing IFFs. Key informant interviews and focus group discussion to gather empirical evidence on what is or not working and why to explore areas for improvement. A validation meeting will be conducted for quality assurance including peer reviewing.
Qualifications and Experience
Key Experience and Qualifications
• Possess a post graduate qualification in Economics, Fiscal Policy and Public Finance, Environmental Law, or equivalent
• Possess more than 10 years of experience in conducting IFFs risks assessments and researches
• Fluency and written and oral communication in English
• Possess access and influence on the subject matter
• Excellent reporting writing
How to Apply
Applications
Interested candidates may send an email, application, proposed budget and their CV expressing interest to conduct the research to procurementzw@gmail.com not later than 14 March, 2026
