Investment Governance and Project Due Diligence
Investment losses in public entities and corporate groups rarely come from one bad call. They come from a process that let a weak proposal through: a business case nobody challenged, due diligence on the counterparty that was never done, payments released before milestones were met, approvals obtained from the wrong body or not at all, and no one watching the investment once the money had gone. Parliament's Public Accounts Committee has recently stressed that public investments must comply with legal requirements and deliver value for money. Private groups face the same questions from shareholders, auditors and lenders.
This two-day course is for board and investment committee members, chief executives, finance, strategy, investment and project teams, and internal audit in companies, GLCs, statutory bodies and university holding companies. Day one covers the governance framework: investment policy, committee practice, the business case and approvals. Day two is due diligence and monitoring, worked through a capital project case such as a large solar or property development. It connects to Governance of Statutory Bodies, GLCs and Their Subsidiaries for the approvals that sit outside the organisation.
HRD Corp SBL-Khas Claimable
Programme Agenda
Day 1, 9:00 AM - 9:15 AM
Welcome and Programme Overview
Introduction to the session, objectives, and housekeeping.
Day 1, 9:15 AM - 10:15 AM
How Investments Go Wrong
Patterns behind investment losses and adverse audit findings: optimistic business cases, unchallenged sponsors, related parties, skipped approvals, front-loaded payments and absent monitoring.
Day 1, 10:15 AM - 10:30 AM
Break
Day 1, 10:30 AM - 11:30 AM
The Investment Policy and Framework
Investment objectives and risk appetite, permitted and prohibited investments, thresholds, the role of the board and investment committee, and external approvals such as those reserved to the Minister of Finance in some enabling Acts.
Day 1, 11:30 AM - 12:30 PM
Investment Committee Practice
Composition, independence and skills, papers and challenge, conflicts of interest, minutes that record the reasoning, and escalation to the board.
Day 1, 12:30 PM - 1:30 PM
Lunch
Day 1, 1:30 PM - 3:15 PM
The Business Case and Value for Money
Testing demand, costs, returns and alternatives, sensitivity and downside cases, value for money in public-sector investment, and the questions a committee should always ask.
Day 1, 3:15 PM - 3:30 PM
Break
Day 1, 3:30 PM - 4:45 PM
Due Diligence: Counterparties and Partners
Financial, legal, integrity and beneficial ownership checks on partners, contractors and vendors, and the red flags that should stop a deal.
Day 1, 4:45 PM - 5:00 PM
Day 1 Close
Recap and what to review before day two.
Day 2, 9:00 AM - 9:15 AM
Day 1 Review
Recap of day one and the questions it left open.
Day 2, 9:15 AM - 10:15 AM
Due Diligence: Technical and Project Risk
Technical feasibility, land, permits and licences, grid or offtake arrangements for energy projects, contractor capability, and independent expert review.
Day 2, 10:15 AM - 10:30 AM
Break
Day 2, 10:30 AM - 12:30 PM
Structuring, Funding and Payment Controls
Deal structures, staged funding tied to verified milestones, performance security, step-in rights, and preventing payments running ahead of delivery.
Day 2, 12:30 PM - 1:30 PM
Lunch
Day 2, 1:30 PM - 3:15 PM
Monitoring, Impairment and Exit
Post-investment monitoring, reporting to the board, early warning indicators, impairment, restructuring and exit decisions, and post-investment review.
Day 2, 3:15 PM - 3:30 PM
Break
Day 2, 3:30 PM - 4:45 PM
Workshop: Committee Review of a Capital Project
Teams sit as an investment committee on a solar project proposal, challenge the business case and due diligence, set conditions and payment milestones, and record a decision a later auditor could follow.
Day 2, 4:45 PM - 5:00 PM
Wrap-Up and Q&A
Key takeaways, next steps, and close.
Key Outcomes
- Recognise the process failures behind investment losses and adverse findings
- Set an investment policy with clear thresholds and approval routes
- Run investment committee reviews that challenge and record their reasoning
- Test a business case for value for money and downside risk
- Direct counterparty and technical due diligence on capital projects
- Tie funding to milestones and monitor investments through to exit
Training Mode Physical / Online / Hybrid / e-learning
HRD Corp SBL-Khas Claimable
Level Intermediate. For board and investment committee members, chief executives, finance, strategy, investment and project teams, and internal audit in companies, GLCs, statutory bodies and university holding companies.
Duration 2 Days (16 Hours) | 9:00 AM to 5:00 PM daily
Venue In-house at the client's premises, or delivered via the client's preferred platform (Microsoft Teams, Zoom, or equivalent)
Assessment An investment committee decision on a case capital project with conditions and milestones, plus a written knowledge check
Certificate Certificate of Completion issued to all participants upon full attendance