KRC/2026/2889/337 RFP for consultancy services for ass…

What is being bought

Kenya Reinsurance Corporation Ltd requests proposals for consultancy services for valuation of its institutional assets, including site inspection of listed properties in Nairobi, Kisumu and other locations, over about 4 weeks after contract commencement. Only a technical proposal is required; the fee is based on a negotiated scale fee.

What could disqualify you

Consultant or any member proven to be involved in corrupt, coercive, obstructive, collusive or fraudulent practice is automatically disqualified. Standard rule D1 p.6
A consultant that submits or participates in more than one proposal (including as part of a joint venture) has all such proposals disqualified. Standard rule D1 p.8
Public officers of the Procuring Entity, and their spouses, children, parents, siblings and related business interests, are not eligible to tender. Standard rule D1 p.6
Proposals that are late are declared late, rejected and returned unopened. Standard rule D1 p.11
Failure to provide the required evidence for key expert criteria makes the bidder non-responsive and disqualified from further evaluation. D1 p.17
Proposal rejected if the Technical Proposal contains material financial information, or if more than one CV is given for a Key Expert position. Standard rule D1 p.9
Mandatory site visit: a site visit form must be signed and stamped with the Kenya Reinsurance Corporation stamp; failure to do so fails mandatory requirement 4. D1 p.17

Key facts

Closing: Tue 3 Nov 2026, 10:00 am
Proposal submission deadline, 3 November 2026 at 10.00 am East African Time, at the Managing Director's address in Nairobi. D1 p.19
Bid / tender security: Kshs. 750,000.00 in a bank guarantee, insurance guarantee, letter of credit, or micro-finance/SACCO/YEDF/WEF guarantee; validity 150 days after tender opening per mandatory requirement 1. D1 p.20
Tender fee: Not stated in the documents we reviewed Not stated D1 p.1
Site visit: Obbligatorio
Mandatory site visit of all assets to be valued. Visits Monday to Friday, 8.00 to 1.00 and 2.00 to 5.00 PM, excluding the submission date. Vacant plots: site visit form signed at Reinsurance Plaza Nairobi. Site visit form signed and stamped by Kenya Reinsurance. D1 p.17
Pre-bid meeting: Not stated in the documents we reviewed Not stated D1 p.17
Reserved for: Not stated in the documents we reviewed Not stated P
Contract value: Not stated in the documents we reviewed Not stated D1 p.19
Tender opening: Not stated in the documents we reviewed Not stated D1 p.3
Tender validity: Proposal must remain valid for 120 days after the proposal submission deadline. D1 p.19

Who can apply

Consultants (firms, joint ventures and individuals) may offer services unless the Data Sheet says otherwise; the RFP is addressed to qualified consulting firms. Selection is by Quality Based Selection (QBS). Standard rule D1 p.2

Application checklist

Tick items off as you prepare. Your ticks stay on this device only.

Required from every bidder

Experience, licences and financial capacity

Technical

Key expert 1, Project/Team Leader: Bachelor's degree in Land Economics or Real Estate Management, ISK and VRB registration, at least 10 years post-qualification asset valuation experience, and at least 3 institutional asset valuation projects of similar nature each worth not less than Kshs. 2.5 billion completed in last 7 years. D1 p.17
Key expert 2, Land Economics/Real Estate Valuation: university degree in Land Economics/Real Estate, ISK and VRB registration, at least 7 years post-qualification real estate valuation experience, GIS referencing knowledge. D1 p.18
Key expert 3, Mechanical/Electrical Engineer: university degree in Mechanical or Electrical Engineering, Engineers Board of Kenya (EBK) registration, and experience in machinery functional soundness assessment; the mechanical/electrical engineering expert role is to advise the valuer. D1 p.18
Key expert 4: a person with basic knowledge of referencing property in Geographic Information Systems (GIS) is required. D1 p.16
Key experts may not appear in more than one proposal; Sub-consultants and key experts in more than one proposal is not permissible. D1 p.19
Proposal must remain valid for 120 days after the proposal submission deadline. D1 p.19
Assignment is expected to commence not later than 21 days after award and signing of the contract; valuation runs about 4 weeks with an interim report (3 hard copies), draft final report (3 hard copies), and executive summary and final report (4 hard copies and 2 CDs). D1 p.47

Financial

Only a technical proposal is required; the financial proposal is based on a negotiated scale fee. Fees must be quoted in Kenya Shillings and include all levies and taxes including the Capacity Building levy of 0.03% of the contract value exclusive of taxes. D1 p.19
Bid (tender) security Ksh. 750,000/- in the format provided; accepted forms include bank guarantee, insurance company guarantee, letter of credit, or guarantee from a deposit-taking micro-finance, SACCO, Youth Enterprise Development Fund or Women Enterprise Fund. D1 p.20

How and where to submit

Submit one sealed package with separate sealed envelopes: technical proposal ORIGINAL, technical COPIES (number as per data sheet), and financial proposal in a separate sealed envelope, each bearing the name and reference number and addressed to the Procuring Entity. Standard rule D1 p.11
Physical submission only: electronic submission is not allowed. D1 p.19
Address: Managing Director, Kenya Reinsurance Corporation Ltd, P.O. Box 30271-00100 Nairobi, Reinsurance Plaza, along Aga Khan Walk & Taifa Road, 16th floor. D1 p.19
Proposal must be received no later than 3 November 2026 at 10.00 am East African Time. D1 p.19

Lots and categories

No lots are stated in the material reviewed. Not stated D1 p.1

What the addenda changed

No addenda were provided. Not stated P

Points to confirm with the procuring entity

The documents do not agree with each other on these points. Ask the procuring entity for a written clarification before you submit.

Tender security validity and related dates: Mandatory requirement 1 gives tender security validity as 150 days after tender opening, but the Data Sheet states proposals remain valid 120 days after submission deadline; these are different periods the bidder should confirm with the procuring entity. (D1 p.44 and D1 p.19)
Office floor for submission: The submission address is given as 14th floor in section A and 16th floor in the Data Sheet and cover page; the cover page says 16th floor and the opening address says 17th floor. (D1 p.3, D1 p.19, D1 p.1)

Not covered in the documents we reviewed

Technical proposal opening date and time
Number of technical and financial copies required (stated only as 'as per Data Sheet')
Tender validity: final confirmation of 120 vs 150 day period
Scale fee or estimated contract value
Evaluation criteria weighting and minimum technical score (only partly shown in extracted pages)
Pages 45-46 and 48-83 of D1 (technical forms, financial forms, full terms of reference, contract forms)
Full text of the Terms of Reference and asset list
Any addenda or clarifications

Terms explained

RFP: Request for Proposals: a procurement method where firms submit technical and sometimes financial proposals for consulting services.
QBS: Quality Based Selection: firms are chosen mainly on the quality of their technical proposal.
TDS / Data Sheet: Tender Data Sheet: the section listing tender-specific values that override general instructions.
Key Experts: Named professional team members whose qualifications and experience are scored and must be available.
Tender security / bid security: Money or guarantee submitted with a bid to show seriousness, forfeited if the bidder withdraws or refuses to sign.
Responsive / non-responsive: A proposal that meets all critical requirements is responsive; one that does not is rejected.
AGPO: Affirmative action procurement for youth, women and persons with disabilities; not stated as applying to this tender.
CR12: Kenyan company certificate listing directors and shareholders, issued by the Registrar of Companies.
VRB / ISK / EBK: Valuers Registration Board, Institution of Surveyors of Kenya, and Engineers Board of Kenya: professional registration bodies.

KRC/2026/2889/337 RFP for consultancy services for asset valuation - Kenya Reinsurance Corporation