SECTOR: Financial Sector
PROJECT ID: P-Z1-HB0-067
GRANT NO: ML-0075
CONTRACT NAME Consultancy Services for the Financial Audit of the West African Capital Markets Integration (WACMI) Phase 2 Project
IFB No.
The West African Monetary Institute (WAMI), Accra, Ghana, was established in 2001 by the Governments of the 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). WAMI has received a grant of USD 850,000 thousand from the African Development Bank (AfDB) under Capital Markets Development Trust Fund (CMDTF) for the implementation of the West African Capital Markets Integration (WACMI) Phase 2 Project. The project aims to harmonize and validate regulations for trading and settlement of securities in West African capital markets as well as implement other related activities. Components of this project include: (i) harmonization of capital market rules for Ghana, Nigeria, Cape Verde and Union Economique et Monetare Ouest-Afrcien (UEMOA) stock exchanges (ii) designing and development of a centralized database and website for the integrated West African capital markets(iii) needs assessment study on the state of the equity capital markets (stock exchanges) of The Gambia, Guinea, Liberia and Sierra Leone and implementation roadmap for the development and inclusion of each of the country’s equity capital market into the WACMI project (iv) capacity building and sensitization workshops involving key regional capital markets stakeholders including regional capital market operators, securities dealers and stockbrokers, central security depositories, policy makers, and other capital market participants.
WAMI intends to apply part of the agreed amount of this grant to cover eligible payments under the contract for consultancy services for an External Auditor
The External Audit will be carried out in accordance with International Public Sector Accounting Standards (IPSAS) and the International Standards on Auditing (ISA). The scope of service cover audit of project financial statements for the period 2021 to 2023. In demonstrating compliance with the agreed project financial management arrangements and requirements, the auditing firm is expected to undertake the following:
Eligible Audit firm should meet the following criteria:
WAMI now invites eligible firms to indicate their interest in providing external auditing services. Interested firms must provide information indicating that they are qualified to perform the services.
Eligibility criteria, establishment of the short list and the selection procedure shall be in accordance with the African Development Bank’s Procurement Policy and Methodology for the African Development Bank Group Funded Operations, dated October 2015, which is available on the Bank’s Website at https://www.afdb.org/en/projects-and-operations/procurement/new-procurement-policy
Expressions of interest must be delivered by courier or physically in sealed envelopes clearly marked “Expression of Interest- West African Capital Markets Integration (WACMI) Phase 2 Project.” to the address indicated below by August 12, 2022, at 17.00 (GMT).
The Director General
West African Monetary Institute
Tetteh Quarshie Interchange
Gulf House, Accra, Ghana
Attn: Project Implementation Officer
Tel: +233 302 743801 Email: wamzproject@wami-imao.org
The West Africa Securities Regulators Association (WASRA) was established in 2015, as an association of capital market regulatory institutions comprising of Nigeria, Ghana and Conseil Regional de L’Epargne Publique et des Marches Financiers (CREPMF) made up of: Mauritania, Senegal, Mali, Guinea Bissau, Cote d’Ivoire, Togo, Burkina Faso, Benin Republic and Niger, to foster market integration in the West African sub-region. WASRA has a mandate of facilitating cooperation and consultation among Capital Markets in the West African region.
As a flagship programme of WASRA, the West Africa Capital Market Conference (WACMaC) is a biennial event that seeks to present the West African region and indeed Africa as a whole the opportunity to address important issues related to the orderly growth and development of the regional and continental capital markets.
Organizing members of WACMaC are WASRA, Economic Community of West African States (ECOWAS), West African Capital Markets Integration Council (WACMIC), and West Africa Monitoring Institute (WAMI).
The WACMaC objectives are, among others to:
The conference brings together relevant stakeholders and experts to among other things, share experiences, deliberate on best practices, and connect with industry players. Specifically, the conference will be patronized by Government officials, ECOWAS representatives, Regulators, Central Banks, Supranational, Capital Market Operators, Banks, Insurance Companies, Sovereign Funds, Regional Institutional Investors, Local Market Participants and Professionals, Regional Listed Companies, Eminent Researchers and Professors, IOSCO/AMERC/GEMC, EASRA/ESMA/UASA, AfDB, MFW4A, WAMI, AFMI, Credit Enhancers (Guarantors), Credit Rating Agencies, General Public, etc.
The conference this year is under the theme “Deepening and strengthening capital markets across West Africa through effective regulation”. To prudently discuss the theme, specific thematic areas that will be addressed include Access to Finance; Sustainable Finance; Enforcement, Cooperation and Investor Protection; Investor Education; and Innovative Finance and Technology.
WACMaC 2021 Event Details:
This year’s WACMaC is a paid event, and it is being organized in two forms as shown below:
Information and registration link for the conference can be found at https://wacmac21.sec.gov.gh/
PROJECT ID: P-Z1-HB0-067
GRANT No. : ML-0075
IFB No. : WAMI/AfDB/WACMI-2/QCBS/SERV/01/2021
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:
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:wamzproject@wami-imao.org
PROJECT ID: P-Z1-HB0-067
GRANT No. : ML-0075
IFB No. : WAMI/AfDB/WACMI-2/QCBS/SERV/02/2021
1. 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 conduct of capacity building activities involving key regional capital markets stakeholders including regional capital market operators, securities dealers and stockbrokers, central security depositories, policy makers, and other capital market participants.
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 is 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 consulting firm to carry out capacity building on capital markets and sensitization programmes on the WACMI Project in the West African Capital Markets ecosystem.
2. The services included under this project are the design and implementation of a capacity building and sensitization programme for the capital market ecosystem across four countries in the West African sub-region – Cabo Verde, Ghana, Nigeria, and UEMOA. This is to be carried out over a period not exceeding six (6) months and must be delivered in English, French, and Portuguese for participants numbering up to 200 in each of the locations. Services will also include production of capacity building materials which will be handed over to the Project Implementation Unit for dissemination.
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.). Consultants may constitute joint-ventures to enhance their chances of qualification. Interested consulting firms should submit expressions of interest based on the following criteria:
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 to 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 – Capacity Building and Sensitization, 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: wamzproject@wami-imao.org
PROJECT ID: P-Z1-HB0-067
GRANT No. : ML-0075
IFB No. : WAMI/AfDB/WACMI-2/QCBS/SERV/03/2021
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 conduct of needs assessment studies on the state of the equity capital markets (stock exchanges) in The Gambia, Guinea, Liberia and Sierra Leone and the development of an implementation roadmap for the inclusion of each market in the integrated WACMI Project.
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 economic 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 consultant or firm to Conduct a Needs Assessment Study on the Equity Capital Markets of Four West African Countries without active Stock Exchanges - The Gambia, Guinea, Liberia, and Sierra Leone.
2. The services included under this project/services are to conduct a Needs Assessment of the Capital Markets in The Gambia, Guinea, Liberia, and Sierra Leone. It also includes the design of a detailed Road Map, complete with requirements, for setting up capital markets in these countries. This service is expected to be completed within a nine (9) month period.
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 the team that will carry out the study and their past works, describing how the firm intends to go about the assignment, what processes they will 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 consulting firms should submit expressions of interest based on the following criteria:
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 to 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 – Capacity Building and Sensitization, 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: wamzproject@wami-imao.org
COUNTRIES : Regional WAMZ Countries - The Gambia, Sierra Leone, Guinea and Liberia
NAME OF PROJECT : Development of the Debt Markets in the West African Monetary Zone (WAMZ) – Phase 1 Project
SECTOR : Financial Sector
PROJECT ID : P-Z1-H00-063
GRANT No. : 590015501636
CONTRACT NAME : Consultancy Services for the Financial Audit of the WAMZ Debt Management Project
IFB No. : WAMI/AfDB/DMD/LCS/SERV/04/2020
The West African Monetary Institute (WAMI), Accra, Ghana, was established in 2001 by the Governments of the 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). WAMI has received a grant of UA 1.5 million from the African Development Bank (AfDB) under Pillar III of the Transition Support Facility (TSF) for the development of domestic debt markets in the four WAMZ Member States (The Gambia, Guinea, Liberia, and Sierra Leone). The project aims to: (i) deepen primary markets and short-tenured instruments; (ii) develop secondary markets and longer-tenor instruments; (iii) improve the debt market operating system; and (iv) broaden the investor base. WAMI intends to apply part of the agreed amount of this grant to cover eligible payments under the contract for consultancy services for an External Auditor.
The External Audit will be carried out in accordance with International Public Sector Accounting Standards (IPSAS) and the International Standards on Auditing (ISA). The scope of service cover audit of project financial statements for the period 2021 to 2023. In demonstrating compliance with the agreed project financial management arrangements and requirements, the auditing firm is expected to undertake the following:
Eligible Audit firm should meet the following criteria:
WAMI now invites eligible firms to indicate their interest in providing external auditing services. Interested firms must provide information indicating that they are qualified to perform the services.
Eligibility criteria, establishment of the short list and the selection procedure shall be in accordance with the African Development Bank’s Procurement Policy and Methodology for the African Development Bank Group Funded Operations, dated October 2015, which is available on the Bank’s Website at https://www.afdb.org/en/projects-and-operations/procurement/new-procurement-policy
Expressions of interest must be delivered by mail or electronically or physically in sealed envelopes clearly marked “Expression of Interest-Development of Domestic Debt Markets Development Phase 1 Project” to the address indicated below by October 29, 2021, at 17.00 (GMT).
Attn: Project Implementation Officer
West African Monetary Institute
Tetteh Quarshie Interchange
Gulf House, Accra, Ghana
Tel: +233 302 743801
E-mail: wamzproject@wami-imao.org