|Title:||Corporate Governance Services for the Multi-Phase Wastewater Rehabilitation Programme - Phase 1|
|Country:||Trinidad and Tobago|
|Dates: ||December, 2014 - November, 2016|
|Partner: ||SAFEGE Consulting Engineering (France)|
The overall objective of the consultancy is to facilitate and assist in the transformation of WASA into a corporatized utility. The guiding principle of this transformation is to attain the advantages of a private sector company, including management systems, efficiency, productivity and financial sustainability, while retaining accountability to owners, i.e. the Government of the Republic of Trinidad and Tobago (GORTT).
- Prepare an effective legal and regulatory framework draft for the transformation of WASA into a fully corporatized entity with managerial autonomy, and separated from the regulatory body that shall ensure that WASA will operate in a monopolistic market that is adequately and efficiently regulated
Support the effective adoption of a new Corporate Governance model and culture, consistent with the Corporate Governance Action Plan (CGAP) and methodology that are currently being implemented. The consultant will assess how Corporate Governance practices are being adopted, and propose new practices to be included in the CGAP for each of the next two years, along the above-mentioned attributes. The CGAP endeavours to achieve international standards by means of accomplishing two general objectives: a) WASA shall not only be accountable to the political stakeholders but also to stakeholders in a broader sense (customers, investors, creditors etc.), meaning that the GORTT agrees on an ownership policy to direct and empower WASA
and b) WASA shall move from a model of destruction of economic value to value creation (which implies achieving sustainable financial self-sufficiency in a progressive way)
Prepare a roadmap of one integrated transformation process with a target implementation within a four (4) year time frame, to accomplish major strategic WASA objectives: organizational transformation (which includes corporatization and the implementation of the new Corporate Governance model), the execution of infrastructure building projects, and the reengineering and change management of WASA.