CONSULTANCY SERVICES FOR THE DEVELOPMENT AND HOSTING OF A CENTRALIZED DATABASE / WEBSITE FOR THE WEST AFRICAN CAPITAL MARKETS
PROJECT ID: P-Z1-HB0-067
GRANT No. : ML-0075
IFB No. : WAMI/AfDB/WACMI-2/QCBS/SERV/01/2021
I. The West African Monetary Institute (WAMI) has received financing from the African Development Bank (AfDB) under the Capital Markets Development Trust Fund (CMDTF) for the implementation of the West African Capital Markets Integration (WACMI) Phase 2 Project. The objective of the WACMI Phase 2 Project is to harmonize and validate regulations for trading and settlement of securities in West African capital markets as well as implement other related activities. A component of this is the design and development of a centralized database and website for the integrated West African capital markets.
WAMI was established in 2001 by the Governments of the West African Monetary Zone (WAMZ) countries, to undertake policy and technical preparations for the launch of a monetary union for the WAMZ as well as the establishment of the West African Central Bank (WACB). In line with its mandate of facilitating financial sector integration of the sub-region, one of the projects WAMI is engaged in the integration of capital markets across the sub-region.
The West African Capital Market Integration (WACMI) project began in 2013 with the objective of integrating capital markets in the West Africa sub-region. The body established to drive the process was the West Africa Capital Market Integration Council (WACMIC). The Council, which comprises Stock Exchanges and Central Securities Depositories (CSDs) in the UEMOA Zone, Cabo Verde, Ghana, Nigeria, and Sierra Leone, was tasked with managing the implementation of the processes that will facilitate the creation of an integrated capital market in West Africa. Prior to 2015, the securities regulators in the sub-region were part of WACMIC. WACMIC adopted a three-phased approach to capital market integration; namely: Sponsored Access (Phase 1), Qualified West African Broker (QWAB) (Phase 2) and Fully Integrated West African Securities Market (WASM) (Phase 3). Phase 2 of the integration project is presently being implemented, with funding from the African Development Bank (AfDB) and WAMI as executing agency.
Phase 2 of the Project: Qualified West African Broker (QWAB), aims to institute a system where capital market operators across West Africa can trade on exchanges across the region using harmonized rules. The main thrust of this Phase is therefore the Harmonization and Validation of West African Capital Market Rules to enable cross-border access to markets across the sub-region.
This integration project has the cooperation and active support of the West Africa Securities Regulators Association (WASRA) which comprises the Securities and Exchange Commissions of Ghana, Nigeria, and Conseil Régional de l’Epargne Publique et des Marchés Financiers (CREPMF) of the UEMOA Zone. WASRA was formed in 2015 to focus on designing the policy framework for achieving the integration of capital markets in the sub-region. The goal of the WACMI project is not only to integrate existing markets in the sub region but also to help develop capital markets of Member States that do not have formal capital markets and to help them become part of the West Africa Integrated Market.
The WACMI project hereby seeks to engage the services of a qualified firm to develop a centralized website and database for the West African Capital Markets to support the integrated West African Securities Market. The firm is expected to conclude this assignment in six months.
2. The services included under this project/services are to design and develop a website and database for the WACMI Project. The website will host market data and information on the capital markets in the Sub-Region. The database will contain market trade, volume, and other data that may be needed to make investment decisions. The database is to be accessible via the website. This project is to be completed within a period of fourteen (14) months.
3. WAMI now invites eligible consultants to indicate their interest in providing these services. Interested consultants must provide information indicating that they are qualified to perform the services (brochures, description of similar assignments, experience in similar conditions, availability of appropriate skills among staff, etc.). Expressions of interests should include profiles of developers detailing their works, describing how the firm engages with its clients, what processes they follow and requirements they have regarding timelines, rates, requests, sign-off and payments. Consultants may constitute joint-ventures to enhance their chances of qualification. Interested applicants (consulting firms) should submit expressions of interest based on the following criteria:
- Not less than five (5) years of progressive experience with web design proven through examples of previous work (add links to websites).
- Demonstrable understanding of user-experience, user-interface design principles, and conceptual design.
- Demonstrable expertise in best-in-class web-development tools.
- Clearly conceptualize and explain what a website such as that sought by WASM should look like and contain.
- Demonstrable experience in database design and development (include referrals)
- Demonstrable expertise in best-in-class database development tools.
- Clearly conceptualize and explain what a database such as that sought by WASM should look like and contain.
- Include cost per stage of the website and database design process.
4. Eligibility criteria, establishment of the shortlist and the selection procedure shall be in accordance with the African Development Bank’s “Rules and Procedures for the use of Consultants”, dated October 2015, which is available on the Bank’s Website at https://www.afdb.org
5. Interested consultants may obtain further information at the address below during the office hours 8.30 hours to 17.00 hours Monday through Friday (excluding public holidays) at the address below from November 29 – December 27, 2021. Only qualified candidates will be contacted for the next stage of the selection process.
6. Expressions of interest should be delivered by mail, electronically, or physically in sealed envelopes clearly marked “Expression of Interest – Development of Website and Database, WACMI Phase 2 Project” to the address below by December 27, 2021.
The Director General,
West African Monetary Institute
Tetteh Quarshie Interchange
Gulf House, Accra, Ghana
Attn: Project Implementation Officer
Tel: +233 302 743801 E-mail:email@example.com