1. Background

The Client intends to commission a formal Asset valuation of approximately 192 hectares of prime agricultural land located in Hambala Wamana Woreda,West Guji Zone, Oromia, Ethiopia 460km from Addis Ababa. The land currently supports approximately 22,000 macadamia trees that are five (5) years old and are in early productive stage, approaching initial commercial yields within 2-3 years.

The valuation is required to determine the fair market value of the land and its biological assets for purposes which may include investment, financing, accounting, or potential sale.

2. Objectives of the Valuation

The primary objectives of this assignment are: to determine the fair market value of the land as at the valuation date, to assess the value of the standing trees (biological assets), to provide a comprehensive and defensible valuation report in accordance with international standards and to identify key factors influencing value, including location, tree condition, soil quality, climate, and market conditions.

3. Scope of Work

The Valour shall undertake, but not be limited to, the following tasks:

1. Site Inspection: Conduct a physical inspection of the entire 192-hectare property, verify land boundaries, accessibility, and topography, assess adequacy of current infrastructure (roads, irrigation, storage, etc.), mapping out and costing potential future infrastructure requirements, conduct key informant interviews to determine the level of community engagement and support for the project (including relevant local government authorities) and Provide an agronomist report to evaluate the condition and maturity of the (approximately) 22,000 trees.

   1. Data Collection and Analysis: Review relevant legal documentation (title deeds or lease agreements, land use rights, permits), review zoning regulations and land use restrictions, including potential future zoning plans, gather market data on comparable land values in the region, assess agricultural productivity and yield potential of the trees.

   2. Valuation Methodology

The Valour shall apply appropriate valuation approaches, including: market (Comparative) Approach, income Approach (Discounted Cash Flow, if applicable), and cost Approach (for biological assets where relevant). The methodology used must be clearly justified and aligned with International Valuation Standards (IVS).

1. Tree (Biological Asset) Valuation: estimate the value of the approximately 22,000 macadamia trees considering: age (5 years), species Macadamia Integrifolia, yield development curve (ramp-up to maturity), projected market prices of macadamia nuts (local and export), annual operating costs (harvesting, maintenance, inputs), remaining economic life (typically 50-70 years for macadamia orchards) and apply appropriate agricultural valuation techniques, primarily an Income-Based Approach.

3.5 Financial Model Assumptions (Indicative)

The Valuer shall develop a financial model incorporating, at minimum, the following assumptions (to be validated during the assignment):

1. Tree Count: 22,000 trees

2. Planting Density: 100 - 115 trees per hectare (subject to verification)

3. Yield Profile (per tree):

   1. Actual Year 5: determination of kg nut-in-shell (NIS) per tree. 

   2. Projection Year 7–10: 25-35 kg NIS (approaching maturity)

   3. Projection Mature Yield (Year 10+): 30-50 kg NIS per tree

4. Price Parity Assumption:

   1. Farm-gate price: Initially $1.00 – growing to $1.50 per kg NIS, plus cost per kg to collect from farmers. 

5. Cost Assumptions:

   1. Annual operating cost per hectare: to include labour, maintenance, fertilization, pest control, harvesting, and transport

6. Capital Expenditure (planned, potential):

   1. Irrigation if applicable, infrastructure, and equipment

7. Discount Rate:

   1. 10%  (reflecting country risk, agricultural risk, and market volatility)

8. Projection Period:

   1. 50-70 years productive economic life of macadamia trees

9. Residual Value:

   1. Consideration of terminal value at end of projection period

All assumptions must be clearly justified, benchmarked against regional data were available, and sensitivity analysis must be performed on key variables (price, yield, discount rate).

1. Risk Assessment

2. Identify risks including environmental, security, political, market, legal, profitability and operational risks.

3. Recommendation on possible mitigation of risk factors identified. 

4. Consider climate variability and sustainability factors.

4. Deliverables          

The Valour shall submit:

1. A comprehensive valuation report in both PDF and editable format.

2. Executive summary of key findings.

3. Detailed explanation of methodologies and assumptions.

4. Supporting data, comparable sales, and calculations.

5. Maps, photographs, and site documentation.

5. Reporting Standards

The valuation must comply with:

1. International Valuation Standards (IVS)

2. Relevant Ethiopian laws and regulations

3. International Financial Reporting Standards. Notably IFRS-IAS 13: Fair Value Measurement, and IAS 41: Agricultural Activity

6. Timeline

1. Commencement Date: 15.04.2026

2. Site Visit: Within 15 days of contract award

3. Draft Report: Within 15 days after site inspection

4. Final Report: Within 20 days after receipt of comments. Latest June 25, 2026

7. Qualifications of the Valuer

The Valuer must:

1. Be a certified and licensed professional valuer

2. Have demonstrable experience in agricultural/plantation valuation

3. Have experience in Ethiopian agricultural valuations

4. Be familiar with valuation of biological assets

5. Financial proposal with detailed budget

6. Technical proposal outlining understanding of the assignment, methodology and work plan and timeline.

8. Assumptions and Limiting Conditions

1. Ownership and legal documentation provided by the Client are assumed to be valid.

2. The number of trees (22,000) is assumed accurate unless verified otherwise.

3. No hidden environmental or legal liabilities unless disclosed.

9. Confidentiality

All information obtained during the assignment shall be treated as confidential and used solely for the purpose of this valuation.

10. Payment Terms

1. Payment amount and structure to be agreed upon receipt of three quotes and selection of the Valour.

2. A subsequent contract will be drawn up and agreed upon successful completion of the Valour selection process. 

Job Requirements

 Qualifications of the Valuer

The Valuer must:

1. Be a certified and licensed professional valuer

2. Have demonstrable experience in agricultural/plantation valuation

3. Have experience in Ethiopian agricultural valuations

4. Be familiar with valuation of biological assets

5. Financial proposal with detailed budget

6. Technical proposal outlining understanding of the assignment, methodology and work plan and timeline.

How To Apply

Contact Information

Client: Ten Senses Ethiopia Perennial Crops Ltd, Boneya Udessa, CEO
Address: Addis Ababa, Bole Sub City, Woreda 03, House no. 2160/L, office no. 606
Email: udessa@gmail.com
Phone: +251 91 200 7301

Approval

Client Representative:

Name: _______________________

Signature: ___________________

Date: _______________________

Valuer:

Name: _______________________

Signature: ___________________

Date: _______________________

 

Job Requirements The role involves conducting a comprehensive asset valuation of approximately 192 hectares of prime land that hosts around 22,000 macadamia trees. Applicants must provide detailed financial and technical proposals outlining methodology, data collection, risk assessment, and deliverables compliant with International Valuation Standards (IVS) and Ethiopian regulations. How to Apply Apply by sending your CV and proposal to udessa@gmail.com or contact the client at +251 91 200 7301. Include all required documentation such as a certified valuer licence, financial and technical proposals.