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Track record

Our work

Our track record, the assignments in progress, the sectors we cover and where we have worked.

Track record

Our track record

Assignments carried out by IntrepidX and its consultants.

ClientAssignmentKey output / scope
Kampani (Belgium)Investment Due Diligence, Valuation and Investment AppraisalDelivered more than 20 investment assignments covering financial, governance, legal, technical and commercial due diligence; valuation and investment appraisal; financial statement reconstruction; quality-of-earnings and net-debt analysis; findings prioritisation and conditions precedent.
Global Social Impact Fund (GSIF), SpainPortfolio Loan Monitoring and Financial Risk Advisory – East AfricaOngoing monitoring of more than 15 portfolio companies, including lender-facility reconciliation, liquidity assessment, capex drawdown tracking, inventory and receivables analysis, commodity-price and foreign-exchange risk assessment, financial statement review and data-quality assurance.
aBi Finance LimitedDelinquency Management Capacity Building for 15 Partner Tier IV Financial InstitutionsFI-level diagnostics and baseline assessments covering PAR 1/30/90, recovery performance, credit-file quality and MIS; customised tools, training interventions and institutional action plans, with implementation tracking and completion reporting.
aBi Finance LimitedInstitutional Appraisal and Monitoring of Financial InstitutionsInstitutional appraisal and post-investment monitoring covering financial performance, governance, risk management, operational capacity, portfolio quality, compliance and utilisation of aBi-supported facilities.
Mastercard Foundation – SIYEP/AFARD ProgrammeTechnical Advisory Services for the Design and Implementation of an Intelligent Integrated Management Information System (ii-MIS)Designed the ii-MIS architecture, business workflows, data requirements and integrated functional modules; strengthened automated data capture, validation, analytics, dashboards, reporting and overall system usability.
FCDO – Palladium Group (U) LtdTechnical Advisory Services for Climate-Smart Jobs Measurement and TrackingDeveloped the methodology and tools for the Jobs Tracer Study; undertook verification of employment data, assessed job quality, identified reporting gaps and developed a job-multiplier framework for estimating indirect employment.
Stockholm International Water Institute (SIWI) / Ministry of Water & EnvironmentTechnical Advisory Services for Groundwater Infrastructure Financing and InvestmentAssessed financing gaps and investment performance within groundwater infrastructure; developed sustainable financing approaches, supported investment proposal development and strengthened stakeholder capacity in resource mobilisation and infrastructure financing.
USAID Feed the Future – Water and Food Systems ActivityIntegrated Management Information and Decision-Support System DevelopmentUndertook requirements assessment, data architecture, system design, analytics, testing and validation; developed user guidance, training materials and mechanisms for ongoing system utilisation and support.
USAID Feed the Future – Water and Food Systems ActivityBaseline Assessment, Monitoring Framework and Management Information System DevelopmentEstablished baseline indicators and targets, assessed household resilience and analysed constraints relating to water, hygiene, nutrition and livelihoods to strengthen evidence-based programme monitoring and decision-making.
Government of Uganda – Expanding Social Protection (ESP) ProgrammeTechnical Support for Evaluation and Survey Quality Assurance – Senior Citizen Grant ProgrammeProvided technical oversight and quality assurance across evaluation and survey processes, including review of methodologies, technical proposals, inception deliverables, data-collection instruments and final analytical reports.
UNCDF / PSFUIdentification, Preparation and Appraisal of Investment Projects in Refugee-Hosting CommunitiesDeveloped project identification and appraisal guidelines; supported preparation of bankable investment proposals, financial models and an investment pipeline, while facilitating linkages among local governments, financiers and prospective investors.
Government of Uganda / Ministry of Local Government / UNCDFSub-National Public Expenditure and Financial Accountability (PEFA) AssessmentUndertook an assessment of local government public financial management performance in accordance with the 2020 Sub-National PEFA Framework, incorporating data analysis, stakeholder consultations and validation of assessment findings.
Government of Uganda / Ministry of Finance, Planning & Economic Development – REAPDevelopment and Roll-Out of a Financial Accounting and Reporting Tool for Local Governments and Service UnitsDesigned and operationalised a standalone accounting and reporting solution for lower local governments and service delivery units, supported by functional specifications, user training and implementation across 14 entities.
Office of the Prime Minister – DINU ProgrammeMonitoring, Evaluation and Learning Advisory ServicesStrengthened the programme M&E architecture through refinement of indicators, baseline development, partner alignment, data-management processes, reporting mechanisms, institutional capacity building and systematic documentation of programme learning.
aBi Development / aBi FinanceImpact Evaluation of 23 Implementing PartnersConducted evaluations against OECD/DAC criteria, examining intervention effectiveness, sustainability, systemic change and unintended effects, and consolidated evidence-based lessons and recommendations to inform future programme design.
aBi Development / aBi FinanceBaseline Assessment of 20 Development ProjectsEstablished and validated project baselines, assessed the robustness of KPIs and contextual assumptions, and formulated evidence-based recommendations to strengthen implementation, monitoring and future programme design.
UNCDFDevelopment of a Framework for Financing Groundwater Infrastructure in AfricaDeveloped a comprehensive groundwater-financing framework covering policy, regulatory and implementation dimensions; assessed stakeholder requirements and fiscal space and formulated financing policy recommendations for Uganda, Senegal and Namibia.
Makerere School of Public Health / SEARCH IPT ProjectLeadership and Management Capacity Development for Referral HospitalsDesigned leadership and management capacity-building interventions, developed an MBA-based training curriculum, established M&E indicators and supported the development of an MIS and institutional performance dashboard.
CLEAR Anglophone Africa – Wits UniversityNational Landscape Assessment of Monitoring and Evaluation Training in UgandaConducted a national assessment of M&E training institutions, benchmarking curricula, training tools and performance indicators, and synthesised qualitative and quantitative evidence into recommendations for strengthening M&E capacity development.
UNCDFSub-National Government Creditworthiness and Credit-Rating AssessmentConducted diagnostic assessments of the creditworthiness of Gulu and Mbale municipalities, analysed municipal financial and institutional data, and facilitated stakeholder validation and dissemination of the assessment findings.
Cities Alliance / UNCDFAssessment of National Enablers for Local Investment in RwandaAssessed institutional, regulatory and policy conditions influencing local investment through comparative benchmarking, stakeholder research and data analysis, culminating in a validated national assessment to inform investment programming.
Civil Society Budget Advocacy Group (CSBAG)Evaluation of Local Government Public Accounts CommitteesAssessed the effectiveness of Public Accounts Committees across 30 districts through documentary review, field research and stakeholder interviews, generating recommendations to strengthen accountability, oversight and public financial management.
Makerere University Retirement Benefits Scheme (MURBS)Board Governance and Effectiveness EvaluationAssessed the governance, legal and institutional environment, board composition, committee structures, decision-making processes and management practices, and developed an action-oriented governance improvement plan.
Caritas SwitzerlandImpact Evaluation of Youth Economic Empowerment and Social Reintegration InterventionsEvaluated socioeconomic reintegration outcomes among youth ex-prisoners, examining programme results, implementation approaches, lessons and opportunities for strengthening entrepreneurship, livelihoods and employment outcomes.
Uganda Chartered HealthNetImpact Evaluation of Climate Change Adaptation InterventionsEvaluated climate adaptation interventions using ICT-enabled monitoring, field research and stakeholder consultations, generating evidence on community resilience, intervention effectiveness and programme performance.
Swedish International Development Cooperation Agency (Sida)Impact Evaluation and Monitoring & Evaluation Strengthening for Global Business Lab ActivitiesDesigned an experimental impact evaluation framework, strengthened the M&E system, developed data-collection instruments, undertook field research and analysed employment and entrepreneurship outcomes.
Agricultural Technology & Agribusiness Advisory Services (NAADS/NARO)Development of an Integrated Monitoring, Evaluation and Management Information System FrameworkDeveloped an integrated M&E and MIS framework aligning performance indicators, business processes, reporting requirements and institutional responsibilities across NAADS and NARO.
World Bank-Funded Projects in UgandaFinancial Management Systems and Compliance ReviewAssessed financial management arrangements, accounting and reporting systems, internal controls, procurement capacity and expenditure eligibility across 20 projects, with recommendations for strengthening compliance and institutional financial systems.
National Agricultural Advisory Services (NAADS)Planning, Monitoring and Evaluation Technical Support ServicesProvided technical support across audits, programme reviews, baseline studies and evaluations, while contributing to strategic planning, budgeting, resource allocation, performance reporting and institutional learning.
UNFPA / Ministry of Education & SportsDevelopment of the School Health Policy and Strategic PlanReviewed relevant evidence and policy frameworks, facilitated stakeholder consultations and supported development of the School Health Policy and the 2012–2016 Strategic Plan.
Yirol Oil Project – Government of South SudanEconomic, Financial and Commercial Feasibility Assessment for an Oil Development ProjectUndertook economic, financial, tax and legal assessments; developed project cash-flow models, financial projections and alternative business scenarios to inform commercial and investment feasibility.
Association of Microfinance Institutions in Rwanda (AMIR)Capacity Building in Credit Appraisal, MSME Finance, Risk, Compliance and Digital Financial ServicesDelivered structured capacity-building for AMIR and participating MFIs/SACCOs covering loan appraisal, MSME financing, risk and compliance management, digital financial services and financial-sector innovation.
United Nations Development Programme (UNDP) UgandaTechnical Support on Cooperative Governance, ASMES Formalisation and Critical Minerals DevelopmentProvided technical support on cooperative governance, formalisation of ASMES and policy and institutional considerations relating to critical minerals development in Uganda.
Cordaid RwandaBusiness Development Services Enhancement ProgrammeAssessed and strengthened business development service delivery across 14 districts, including service-provider engagement, capacity enhancement and practical approaches for improving MSME support.
Mercy Corps / International Organization for Migration (IOM)Market Assessment, Financial Modelling and Business Planning for an E-Waste Cooperative in Bidi Bidi SettlementConducted a comprehensive market assessment, developed an integrated financial model and formulated a commercially oriented business plan for the proposed e-waste cooperative.
Microfinance Support Centre (MSC)Mentoring and Coaching of Emyooga SACCOsProvided structured training, mentoring and coaching to Emyooga SACCOs, with emphasis on financial management, governance, business operations, sustainability and institutional performance.
Uganda Cooperative Alliance (UCA)Review and Enhancement of the Accounting and Finance ManualReviewed and enhanced the accounting and finance manual to strengthen financial management procedures, internal controls, reporting practices and institutional compliance.
Enabel UgandaFinancial Assessment of Community-Based Health Insurance and Savings SchemesUndertook financial and institutional assessment of community-based health insurance and savings schemes across the Albertine and Rwenzori regions, generating evidence to inform programme design and sustainability.
Enabel UgandaDevelopment of Financial Education and Health Insurance Training MaterialsDeveloped and adapted training manuals and information, education and communication materials and supported training-of-trainers programmes to strengthen financial literacy and understanding of health insurance products.
Uganda Development Corporation (UDC)Investment Due Diligence, Appraisal and Institutional RestructuringUndertook financial, commercial and institutional due diligence and investment appraisal, including assessment of business performance, financial sustainability, investment requirements and restructuring considerations.
Oikocredit InternationalBaseline Assessment and Capacity Development for Partner Financial InstitutionsConducted baseline assessments and designed capacity-building interventions for Oikocredit partner institutions, including Rushere SACCO and ENCOT Microfinance Limited.
Ministry of Trade, Industry and CooperativesDevelopment of a Turnaround Strategy and Cooperative Regulatory SupportSupported development of a turnaround strategy for cooperatives in Uganda and contributed technical input to cooperative regulatory and compliance frameworks.
SEPSPEL UgandaBaseline Survey for the PROFIRA ProjectDesigned and implemented a baseline assessment covering 250 Village Savings and Loan Associations across Wakiso, Kasese, Rubirizi, Ntungamo and Kabale, generating institution-level baseline profiles for programme planning and monitoring.
Ministry of Water and Environment – Northern UgandaResults-Oriented Management Framework for Piped Water Supply SystemsSupported development of a results-oriented management framework for the management and service delivery of piped water supply systems across urban areas, small towns and rural growth centres.
ISSIA SACCOStrategic and Business Planning SupportReviewed the institution's five-year strategic and business plan and provided recommendations to strengthen strategic positioning, operational priorities, financial sustainability and implementation arrangements.
USAID / TechnoserveBusiness Development Services for Agricultural Cooperatives and Farmer OrganisationsProvided business development support to Rugendabara Farming Cooperative, Kamwenge Tukorerehamwe ACE, Kabambiro ACE and Kisagazi Kasese Coffee Farmers ACE, covering organisational development, financial management, market access and enterprise performance.
Oikocredit / EBO SACCOBusiness Development Services for Cooperatives and Farmer OrganisationsDelivered business development support to cooperatives and farmer organisations affiliated with EBO SACCO, covering financial literacy, record keeping, marketing, productivity enhancement and development of food-hub models.
Uganda Central Cooperative Financial Services (UCCFS)Training and Institutional Capacity Development for CooperativesDesigned and delivered capacity-building programmes for 125 cooperatives covering governance, strategic and business planning, financial management, savings mobilisation, risk management, marketing and institutional development.
Voluntary Service Overseas (VSO)Cooperative Governance, Financial Management and Business Development Capacity Building – TanzaniaProvided training, mentoring and coaching to VSO partner cooperatives covering governance, savings mobilisation, financial management, strategic planning, business planning and market development.
Uganda Central Cooperative Financial Services (UCCFS)Governance and Management Capacity Building for Member SACCOsSupported capacity development for boards and management teams across 125 UCCFS member SACCOs in corporate governance, financial management, risk management, strategic planning, savings mobilisation, marketing, customer management, product development and innovation.
Segal Family FoundationInvestment and Risk Management Advisory ServicesConducted credit due diligence across more than 45 social enterprises and impact-investment opportunities; supported debt and equity structuring, ESG-aligned credit assessment and covenant structuring, contributing to portfolio risk mitigation and blended-capital mobilisation.
Practitioners of Contemporary Philosophy (PCP)Investment, Finance and Accounting Advisory ServicesSupported management of an SME credit portfolio of approximately US$25 million, structured credit guarantee facilities involving development-finance and private-sector partners, and supported financing of agribusiness and renewable-energy enterprises through enhanced credit assessment and financial modelling.
Iungo CapitalSME Investment Management and Transaction AdvisoryExecuted debt and equity transactions for SMEs, undertook debt sizing and risk-adjusted financial modelling, strengthened automated credit-monitoring processes and supported portfolio construction, monitoring and performance reporting across East African investments.
United Nations Development Programme (UNDP) UgandaDiagnostic and Market Assessment of the Movable Asset-Based Lending Ecosystem in Uganda’s Tourism IndustryAssessed the policy, regulatory, institutional and market environment governing movable asset-based lending within the tourism sector, identifying market constraints, financing opportunities and areas for strengthening the enabling ecosystem.

Ongoing assignments as of September 2026

Three of our current assignments, described in more detail.

Service 1 · Due diligence, appraisal and valuation

Full due diligence

Client
Kampani, Belgium
Subject
A proposed investment in an agro-industrial processor, Uganda
Our role
Consultant; one of more than 20 due diligence assignments for Kampani
Year
2026

Background

Kampani was considering an investment in a processor that had gone from several years of losses to a profit within a year of starting a new line of business. It needed to know how much of the turnaround would last and whether the numbers could be relied on.

What we did

The due diligence covered financial, governance, legal, technical and commercial matters, with a valuation and an investment appraisal. On the financial side we rebuilt five years of financial statements, traced the latest year's revenue to invoice-level records in URA's EFRIS system, recalculated the key ratios, checked the Board-approved budget line by line, and reconciled the asset register to the audited accounts and an independent valuation.

Result

The draft report showed that the year's profit depended on a few months of income from the new business and that the budget left out a material block of its own costs. It also raised questions on loan interest, tax and related parties. We recommended going ahead only on conditions: pricing based on adjusted earnings, conditions precedent, and protections in the contract.

Service 2 · Post-investment support

Loan monitoring

Client
Global Social Impact Fund (GSIF), Spain
Subject
A borrower, an agricultural commodity exporter, Uganda: one of more than 15 companies we monitor in GSIF's East African portfolio
Our role
Consultant
Status
Ongoing

Background

GSIF wanted an independent monthly view of a borrower that has loans from several development and impact lenders, a seasonal need for working capital, and a large capital project under way.

What we do

Each month we reconcile the total of the lenders' facilities to the borrowings on the balance sheet, compare current assets with working-capital borrowing, track capital drawdowns against construction in progress, and look at stock, customer concentration, commodity prices and exchange rates. Reports now end with a section on gaps in the data.

Result so far

The reports have shown that an improvement in liquidity came from new borrowing rather than from trading, flagged a sharp one-month fall in the funding left for capital spending, and pointed out that receivables were concentrated in a few customers. We also changed the method so that total loans now reconcile to the balance sheet.

Services 2 and 3 · Support, with M&E

Delinquency management

Client
aBi Finance Limited and 15 of its partner Tier IV financial institutions, Uganda
Our role
Lead consultant
Period
12 months from September 2026, in progress

Background

A significant share of aBi Finance's Tier IV partner institutions had portfolio at risk above industry norms. aBi Finance asked for a firm to work with 15 of them for 12 months to improve how they manage their loan books.

What we are doing

Loan arrears usually come from weaknesses at several points in the credit process, so the work covers the whole lending cycle. We set a baseline for each institution (PAR 1, 30 and 90, recovery rates, the quality of credit files and MIS reports), group the institutions by risk and maturity, adapt arrears ageing reports, PAR dashboards, early-warning checklists and board reporting formats to each one, and follow training with on-the-job coaching and review.

Status

Work started in September 2026. Results will be reported against each institution's baseline when the assignment closes.

Sectors

Where the work has been

Examples of work by the firm, marked (IntrepidX), and by members of our team before joining us or alongside it.

SectorExamples
Financial services and microfinanceaBi Finance appraisal, monitoring and delinquency assignments (IntrepidX); Wazalendo SACCO; the IFAD-funded Rural Financial Services Programme; Uganda Bankers Association; AMIR in Rwanda
Development and impact financeDue diligence for Kampani (IntrepidX); loan monitoring for GSIF (IntrepidX); Segal Family Foundation; credit guarantee structuring; UNCDF local investment finance
Agriculture and agribusinessMonitoring of a commodity exporter (IntrepidX); due diligence on an agro-processor (IntrepidX); aBi evaluations; a GIZ aquaculture baseline; USAID/TechnoServe cooperative support; NAADS and NARO
SMEs and cooperativesEmyooga SACCOs (Microfinance Support Centre); 125 UCCFS member SACCOs; business development services for Cordaid Rwanda
Public sector and public financeSub-national PEFA; a Ministry of Finance reporting tool; evaluation of Public Accounts Committees; a turnaround strategy for cooperatives (Ministry of Trade, Industry and Cooperatives)
Water, climate and environmentSIWI groundwater financing; a UNCDF groundwater finance framework; FCDO Climate Smart Jobs; an evaluation of climate adaptation work
Health, education, youth and social protectionSenior Citizen Grant (Expanding Social Protection); an Enabel health insurance study; SEARCH IPT; the School Health Policy; the RETI youth initiative for refugee and host communities (Mastercard Foundation)
Manufacturing, energy and agro-industryERP and automation for manufacturers; renewable energy finance
Map of Africa showing Uganda, Kenya, Rwanda, Tanzania, South Sudan, Namibia, Mali, Senegal and South Africa
Countries

Where we have worked

  • Uganda, our base, with assignments in the Central, Western, Eastern and Northern regions and in West Nile.
  • Kenya, Rwanda, Tanzania and South Sudan, where the firm or team members have worked on assignments.
  • Namibia, Mali, Senegal and South Africa, covered by team members' assignments, and IGAD member states (a regional trade-policy assessment).

Clients outside Africa: Kampani (Belgium), Global Social Impact Fund (Spain) and the Segal Family Foundation (New Jersey, USA).

Sebyala Samuel has also worked on transactions in 15 African and 2 European markets.

Work in other countries. Where we have not worked before, we team up with a firm that has a local presence and say so in our proposal.
Contact

Discuss an assignment

To discuss an assignment or request company documents for a tender, contact the Company Secretary, Dean Niwarinda, at [email protected].