African Development Bank Group (AfDB)

Finance Complex

01 BP 1387 – Avenue Jean Paul II, Abidjan Plateau, Cote d’Ivoire

Request for Expression of Interest

Consulting Services for Assessment and Review of Procedures in Finance Complex

 

  1. The African Development Bank (“AfDB”) is a regional multilateral development bank whose shareholders include the 54 countries in Africa and 26 non-African countries from the Americas, Asia and Europe. The Bank was established in 1964 and its headquarters is located in Abidjan, Cote d’Ivoire. The Bank’s primary objective is to promote the economic development and social progress of its regional member countries, individually and jointly. The central goal of the Bank’s activities is promoting sustainable growth and reducing poverty in Africa. The Bank thus finances a broad range of development projects and programs.

The Finance Complex (FIVP) comprises the Treasury (“FITR”), Financial Control (“FIFC”), Financial

Management (FIFM), Resource Mobilization and External Finance Department (“FIRM”), Syndications ad Clients Solutions (FIST) and the Staff Retirement Plan (“FISR”).

The activities of the Finance Complex as in any organization are a critical to the effective functioning of the Bank Group as it strives to fulfil the vision of the Ten Year Strategy 2013-2022, and its current focus on accelerating the Bank’s High 5 priority areas with view to accelerating

Africa’s growth and transformation1.

The Treasury Department is responsible for raising funds from capital markets, managing and investing the Bank Group’s liquidity and shareholders’ funds, processing and settling all financial transactions and managing the institution’s banking relationships.

The overall objective of the Financial Management Department (FIFM) is to safeguard and improve the Bank Group’s risk bearing capacity while looking to optimize efficiency to benefit clients, shareholders and staff. The role of the Treasury Risk Management Division (FIFM2) is the management of treasury risk and the oversight of treasury activities that enable the Bank to make informed treasury investment and borrowing decisions with adequate and manageable hedging mechanisms.

The High 5 priorities are to Light up and Power Africa, Feed Africa, Industrialize Africa, Integrate Africa and Improve the Quality of Life of the People of Africa.

The Client Solutions division is responsible for the innovation, development and dissemination of the Bank Group’s financial products as well as its local currency funding operations. It also provides financial technical expertise and advisory services on project teams supporting task managers in originating, structuring, appraising, negotiating, restructuring, secondary sales and closing of transactions, lending rate management and assisting Bank’s clients to manage market related risk through derivative based hedging solutions.

The Finance Complex is seeking to hire a qualified international consulting firm to conduct a full-fledged governance and controls assessment of the Bank’s Treasury, Risk management and Clients solution processes of the Finance complex to propose and implement solutions to mitigate financial and operational risk, while streamlining and enhancing the efficiency of the processes, establishing and/or improving the quality of reporting, and automation.

  1. The African Development Bank Group (AfDB or the Bank) hereby invites Consulting Firms to indicate their interest in the following assignment: Consultancy services for Assessment and Review of Finance Procedures henceforth “the assignment” ;
  1. The services to be provided under the assignment include the review, the assessment and the benchmark of treasury operations, risk management and client solutions procedures and systems support to enhance infrastructure, governance, and internal controls ;
  1. The Finance Complex invites qualified consulting firms to indicate their interest in providing the services. Interested eligible consulting firms or associations of consulting firms shall provide information on their qualifications and experience demonstrating their ability to provide the services.

The expression of interest should cover at the minimum the following information :

  • Qualification and experience in similar assignments (documentation, references for similar services, experience in comparable assignments. Etc.) ;
  • Experience with the Bank and other multilateral development banks or development agencies ;
  • Propose team members for the assignment, and their relevant experience.
  1. The shortlisting will be based on the above criteria. Only shortlisted consulting firms will be invited to submit a more thorough proposal based on detailed terms of reference, to be issued at a later stage ;
  1. The eligibility criteria, the establishment of a short list and the selection procedure shall be in conformity with the Bank’s Rules and Procedure for Acquisition of Consulting Services funded by the Administrative or Capital Expenditure Budget. Please, note that interest expressed by a Consulting Firm does not imply any obligation on the part of the Bank to include it in the shortlist ;
  1. The estimated duration of services is 6 months and the estimated starting date is November 1st, 2020 ;
  1. Interested consulting firms may obtain further information at the address below during the Bank’s working hours (09:00 to 18:00) Monday to Friday ;
  1. Expressions of interest must be received in electronic format at the address below no later than 25 September 2020 at 18:00 local (Abidjan) time and specifically mentioning Consulting Services for Assessment and Review of Procedures in Finance Complex in the title of your Kindly send in a separate email the password of your file. Expressions of interest should be written in either English or French ;
  1. For the attention of : Treasurymanagement&[email protected]

African Development Bank, Treasury Department, FITR