Privatization Investment Committee Memo Template

For committee-facing use, pair this research with Lobito Corridor Finance and Risk Map and DRC Border Clearance and Logistics Readiness Review before turning source analysis into a decision memo.

Direct answer

A privatization investment committee memo should summarize the asset, transaction route, source status, confirmed evidence, unresolved diligence questions, key risks, governance issues, valuation assumptions, adviser follow-ups, and decision options without presenting research as a recommendation.

This template is designed for institutions, family offices, strategic buyers, advisers, and research teams that need a disciplined memo structure before discussing an African privatization or strategic asset process.

How to use this template

Use this template when a team needs to move from scattered articles and source links into a committee-ready structure. The memo should not force a decision. It should make the evidence, uncertainty, and required next steps clear.

A good memo separates:

• What is confirmed.
• What is inferred.
• What is unverified.
• What remains outside the research team’s competence and must go to advisers.

Memo header

Asset or entity:
Country:
Sector:
Transaction route:
Status date:
Prepared by:
Reviewed by:
Committee date:
Document version:
Confidentiality level:

1. Executive answer

Write 100 to 150 words answering the core question.

Template:

This memo reviews [asset/entity] in relation to [privatization program/transaction/public offer/tender/direct sale]. The strongest available evidence confirms [confirmed point]. It does not yet confirm [unresolved point]. The main diligence issues are [issue one], [issue two], and [issue three]. The recommended next step for the committee is to [review source pack / approve deeper diligence / request adviser input / monitor trigger events], not to treat this memo as investment advice.

2. Source status

Use this table to classify evidence.

Source classes should follow OHUASI’s evidence hierarchy: controlling official source, primary institutional source, reputable secondary source, analytical inference, or unverified signal.

3. Transaction route

Identify the route being considered.

Transaction route:
Public offer / tender / direct sale / concession / listing by introduction / strategic partnership / restructuring / unknown

Route evidence:

Route uncertainty:

Documents required to confirm route:

The memo should not use public-offer language if the evidence only supports program inclusion. It should not use completion language if closing evidence is missing.

4. Asset perimeter

Define what is actually being assessed.

Legal entity or asset:
Operating assets included:
Assets excluded:
Liabilities included:
Liabilities excluded or unclear:
State-retained rights:
Minority or strategic investor rights:

A committee cannot assess risk until the perimeter is clear.

5. Strategic rationale

Explain why the asset matters.

Possible rationale categories:

• National infrastructure.
• Financial-sector role.
• Digital connectivity.
• Logistics corridor relevance.
• Mineral or commodity exposure.
• Public-service role.
• Capital-market development.
• Policy reform signal.

Keep this section factual. Strategic importance is not the same as investment attractiveness.

6. Risk register summary

7. Diligence gaps

List missing documents or unresolved questions.

Gap:
Why it matters:
Source needed:
Who should answer:
Materiality:
Deadline:

High-priority gaps usually include transaction status, ownership perimeter, financial statements, liabilities, regulatory approvals, governance rights, foreign investor access, and exit mechanics.

8. Adviser follow-ups

Separate research questions from professional advice questions.

Legal counsel

• What approvals are required?
• What rights transfer?
• What restrictions apply to foreign investors?
• Are minority protections enforceable?

Tax adviser

• What withholding, capital gains, stamp, VAT, or transaction taxes may apply?
• Are treaty claims relevant?
• What documentation is required?

Broker or market intermediary

• What account, custody, settlement, and KYC steps apply?
• Is the reader eligible to participate?
• What allocation and refund mechanics apply?

Technical or sector adviser

• What sector-specific assumptions require expert review?
• What capex or operational issues are material?

9. Committee decision options

Use neutral decision language.

Option A: Monitor only
Rationale:
Trigger for reconsideration:

Option B: Approve deeper diligence
Rationale:
Budget/time required:

Option C: Request adviser review
Rationale:
Specific adviser questions:

Option D: Decline further review
Rationale:
Evidence or risk basis:

Avoid language that presents OHUASI research as a buy, sell, subscribe, or bid recommendation.

10. Update triggers

List events that would require memo refresh:

• New decree or program update.
• Prospectus publication.
• Tender launch.
• Data-room opening.
• Regulator approval.
• Exchange notice.
• Public offer result.
• Financial statement update.
• Ownership change.
• Concession amendment.
• Material correction.

Related OHUASI research

Use this template alongside:

• How to Verify an African Privatization Source.
• Privatization Transaction Status Definitions.
• Privatization Data Room Due Diligence Checklist.
• Strategic Asset Risk Register Template.
• No Investment Advice Disclaimer.
• Institutional Research Briefing Desk.

Disclaimer

This template is informational and organizational. It does not provide investment, legal, tax, accounting, brokerage, underwriting, fiduciary, or securities advice.