AFRICAN UNION UNION AFRICAINE UNIÃO AFRICANA Addis Ababa, ETHIOPIA, P. O. Box 3243, Telephone: +251-11-551 7700, Fax: +251-11-5517844, website: www. africa-union.org REQUEST FOR EXPRESSIONS OF INTEREST (EOI) Consultancy Services for the Implementation of the African Union Commission (AUC) - Association of African Central Banks (AACB) Joint Strategy for the Establishment of African Central Bank (ACB) PROCUREMENT NUMBER: AUC/EAD/003 17TH April 2020 Section I: Letter of Invitation 17th April 2020 REF: Consultancy Services for the Implementation of the African Union Commission (AUC) - Association of African Central Banks (AACB) Joint Strategy for the Establishment of African Central Bank (ACB) 1. The African Union Commission and the Association of African Central Banks Joint Strategy (the Joint Strategy) for the establishment of the African Central Bank proposes that an African Monetary Institute (AMI) be a transitional stage towards the establishment of an African Central Bank (ACB) and a single continental currency. The strategy provides a roadmap with specific tasks (including the setting-up of the African Monetary Institute (AMI) preceding the ACB), and roadmap with deadlines leading to the establishment of ACB and a single currency for Africa. The AU Heads of State and Government, in recognition of the slow progress toward the establishment of the AUFIs, appointed H.E. Nana Addo Dankwa Akufo-Addo as the Champion of the AUFIs to provide political awareness and advocacy to ensure the expedition in signature and ratification of the legal instruments establishing the AUFIs. In that respect, the Commission wishes to recruit a consultant for the implementation of the AUC-AACB joint strategy and the strategy to accelerate the signature and ratification of the legal instruments establishing the African Union Financial Institutions (AUFIs). Also, support the advocacy work of the Champion. 2. The Commission now invites eligible Individual Consultancy from AU member states to submit Expressions of Interest for the assignment as per attached Terms of Reference (TOR). 3. The Expression of Interest includes the following documents: Section 1 – This Letter of Invitation Section 2 - Terms of Reference 4. The EOI must be addressed to Head Procurement, Travel & Stores Division, African Union Commission. [email protected]. 5. The deadline for submission of proposals is on or before the 1500 hours on 1st May 2020 Late submissions of expression of interest will be rejected and not considered. Section II: Terms of Reference Consultancy Services for the Implementation of the African Union Commission (AUC) - Association of African Central Banks (AACB) Joint Strategy for the Establishment of African Central Bank (ACB) I. BACKGROUND The African Union Commission and the Association of African Central Banks Joint Strategy (the Joint Strategy) for the establishment of the African Central Bank proposes that an African Monetary Institute (AMI) be a transitional stage towards the establishment of an African Central Bank (ACB) and a single continental currency. The strategy provides a roadmap with specific tasks (including the setting-up of the African Monetary Institute (AMI) preceding the ACB), and roadmap with deadlines leading to the establishment of ACB and a single currency for Africa. The implementation of the strategy and the signature and ratification of legal instruments of other financial institutions namely African Investment Bank (AIB) and African Monetary Fund (AMF) have been very slow. In that respect, the 3rd Specialised Technical Committee (STC) on Finance, Monetary Affairs, Economic Planning and Integration requested the AUC to conduct a study on the reasons behind the delay and develop a strategy to accelerate the signature and ratification of the legal instruments for the AIB and AMF. In addition, AUC-AACB were requested to revise the timelines and align the macroeconomic convergence criteria for the establishment of ACB with that of RECs in order to expedite the implementation of the joint strategy. The STC, further requested the AUC to work closely with the African Securities Exchanges Association (ASEA) in strengthening the capacities of Member States in capital markets development and carry out work leading to the creation of the Pan-African Stock Exchange (PASE). The AU Heads of State and Government, in recognition of the slow progress toward the establishment of the AUFIs, appointed H.E. Nana Addo Dankwa Akufo-Addo as the Champion of the AUFIs to provide political awareness and advocacy to ensure the expedition in signature and ratification of the legal instruments establishing the AUFIs. In that respect, the Commission wishes to recruit a consultant for the implementation of the AUC- AACB joint strategy and the strategy to accelerate the signature and ratification of the legal instruments establishing the African Union Financial Institutions (AUFIs). Also, support the advocacy work of the Champion. II. OBJECTIVE OF THE CONSULTANCY i) Attainment of the minimum required signatures and ratifications of the legal instruments establishing the AUFIs, in order, to come into force by the expected timeline; ii) Finalization and adoption of the report of the AMCP macroeconomic convergence by the Summit; iii) The draft Statute and Structure of the AMI finalized and adopted by the Summit; and iv) The production of a joint AUC-ASEA document on PASE and the commencement of the African Exchanges Linkage Project (AELP). III. SCOPE OF THE WORK The consultant is expected undertake the tasks outlined below:- i. Prepare meetings for the Champion to attend and advocate for the signature and ratification of the legal instruments establishing the AUFIs; ii. Finalise with AACB-RECs the alignment and harmonisation of the macroeconomic convergence criteria of the African Monetary Cooperation Programme (AMCP); iii. Draft a joint AUC-ASEA document on the Pan-African Stock Exchange; iv. Work with ASEA in preparation to begin implementation of the joint AUC-ASEA African Exchanges Linkages Project (AELP) leading to the establishment of a continental PASE; v. Prepare recommendations for the harmonisation of a Continental Payments and Settlement System; vi. Define possible links between the three African financial institutions - ACB, AMF and AIB and their interaction with the existing national and regional institutions; vii. Develop a framework with clear timelines on how to conduct tasks toward reaching the objective of establishing the AMI; viii. Review the design of the Strategic Plan and Roadmap to take into account emerging African realities; ix. Liaise with the RECs Secretariats and AACB Executive Secretariat, and coordinate regional monetary institutes in implementing the macroeconomic convergence and financial integration aspects of their regional strategic plans; and x. Advise the AUFIs Champion in preparation for high-level meetings to advocate for the signature and ratification of the legal instruments of AUFIs; xi. Organise a technical meeting among the AUC-AACB-CBN meeting to finalise the Statute and structure of the AMI; Key Deliverables Key Task Duration Inception Report The consultant come up with a proposal Three (3) weeks after commencement of the including a work plan clearly stipulating the task roadmap in undertaking the task. Report on the finalisation of the draft Statute One (1) month and Structure of the AMI Report on the establishment of PASE Three (3) weeks Final Report on the Assignment Two (2) weeks IV. PROFILE OF THE CONSULTANT & SKILLS • The consultant must hold at least a Master’s degree in, Economics or Statistics, with at least three (3) years’ experience in doing research in government or international organisation; • Extensive knowledge of the statutes and structure of the AMI; • At least two (2) years of relevant work experience in designing and conducting and/or contributing to formal evaluation and/or research studies; • Knowledge of AMCP macroeconomic convergence criteria; • Knowledge and experiences in participating in high level meetings with Heads of States, Governments, RECs, Central Banks and Partners; • Proficiency in one of the African Union working languages. Knowledge of one or more of the other working languages would be an added advantage; • Strong analytical skills; • Excellent presentation skills, both oral and written; and • Be proficient in the use of Word, Excel and Power Point V. DURATION OF THE ASSIGNMENT The consulting assignment has a three months duration, running from May to July 2020 and can be renewed based on subsequent period agreed by parties. VI. DUTY STATION The Consultant will be based at the Headquarters in Addis Ababa. VII. REMUNERATION A lumpsum of USD12,000 for the period of the assignment based on deliverables indicated. VIII. REPORTING REQUIREMENT For the purpose of execution of assignment, the Consultant is required to report to the Head of Economic Policy and Research Division, of Economic Affairs Department. IX. EVALUATION CRITERIA - Consultant’s Experience (40%) - Technical Approach, Work plan & Methodology (40%) - Qualification (20%) .