SELECTION OF CONSULTING SERVICES
INDIVIDUAL CONSULATANT

ASSIGNMENT TITLE: Recruitment of Individual consultant for the setting up of the African monetary institute

Reference No.: AUC/DEA/IC/001/2018

July 9, 2018

Date: July 9, 2018

Recruitment of Individual consultant for the setting up of the African monetary institute

1. BACKGROUND
The African Union Commission/Association of African Central Banks Joint Strategy (the Joint Strategy) for the establishment of the African Central Bank proposes that an African Monetary Institute should be established to undertake the preparatory work leading to the creation of an African Central Bank (ACB).

The African Union Commission (AUC) wishes to recruit Consultants to begin the work of the African Monetary Institute (AMI). The Consultants will carry out the preparatory work for the establishment of the ACB as outlined in the Joint Strategy.

2. Purpose and objectives

The main objective of the AMI shall be to implement the Joint Strategy of the ACB. Furthermore, the AMI will support the AU organs and the Regional Economic Communities (RECs) in the implementation of the monetary cooperation programme and liaise with the RECs Secretariats, and work closely with Regional Monetary Institutes and Sub-regions in monitoring and implementing the macroeconomic convergence and financial integration aspects of their strategic plans.

The proposed AMI will periodically review the design of the Strategic Plan and Roadmap for the establishment of the African Central Bank (ACB) to take into account emerging African realities. It will also undertake any other initiatives needed to facilitate the integration process in Africa.

3. SCOPE OF THE CONSULTANCY

The individual consultant will be required to undertake the following tasks but not limited
i. Review and advise on the revision of the macroeconomic convergence criteria of the Africa Monetary Cooperation Programme (AMCP) and monitor the state of macroeconomic convergence of the Member States and RECs against the agreed criteria;
ii. Define exit the entry and criteria for participation in the monetary union as well as the conditions for entry into force of the ACB;
iii. 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;
iv. Develop the minimal conditions for the creation of a single currency in Africa;
v. Advise on the merits of alternative monetary policy frameworks;
vi. Monitor fiscal policies and public debt at national and REC levels;
vii. Make recommendations for the development of a Continental Payments and Settlements System;
viii. Advise on the design an appropriate Exchange Rate Mechanism (ERM). The AMI would be responsible for determining the value of the common currency and the conversion rates of national and RECs currencies into the common currency;
ix. Make recommendations for the harmonization and coordination of monetary and exchange rate policies in the run-up to a monetary union;
x. Define possible links between the three African financial institutions - ACB, AMF and AIB and their interaction with the existing national and regional institutions;
xi. Develop a framework for a sensitization and communication programme on the net benefits of a single currency in order to create wide public support for the introduction of a common currency;
xii. Review the design of the Strategic Plan and Roadmap to take into account emerging African realities;
xiii. Advice on the use of non-conventional monetary policy in Africa; and
xiv. Undertake any other tasks assigned to them.

4. KEY DELIVERABLES AND DURATION OF THE CONSULTANCY

The Consultants shall produce the following documents:
• Monthly progress reports and a final report at the end of their mandate;
• Report on the criteria for participating in a monetary union;
• Study report on the development of a continental payments and settlements system;
• Communication strategy for public sensitization on the African single currency; and
• Elaborate an economic periodic review (every 3 months) report on Africa’s economy.

5. ACADEMIC QUALIFICATIONS AND PROFESSIONAL EXPERIENCE REQUIRED

The Individual consultant should have the following requisite skills and experience:
• The expert in charge of technical coordination must hold a PhD in Law, Economics, Statistics, Finance and Banking, information and communication or a related field, with at least fifteen (15) years’ experience in a Central Bank at managerial level;
• The other experts must hold at least a Master’s degree in Law, Economics, Statistics, Finance and Banking, information and communication or a related field, with at least fifteen (15) years’ experience in a Central Bank at managerial level;
• Have at least fifteen (15) years’ experience in analysis, design, implementation and management of economic policies, preferably in national, regional, continental or international financial institutions, and experience in economic research, particularly in monetary and financial issues;
• 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;
• Be proficient in the use of Word, Excel and Power Point;
• Be competent in quantitative management techniques or econometrics.

6. Duration and monitoring
The consulting assignment has a six month duration, running from effective of the contract. The contract is non-renewable. For the purpose of execution of assignment, the Consultants are required to report to the Director of Economic Affairs of the AUC.

7. Duty Station

The Consultants will be based in Addis Ababa.

8. EXPERIENCE, KNOWLEDGE AND UNDERSTANDING

The African Union Commission now invites eligible Individual consultants to send their VCs and indicate their interest in providing the Services. Interested Individual consultants must provide information demonstrating that he/she has the required qualifications and relevant experience to perform the Services. Consulting firms may propose individual consultant, but only the experience and qualifications of individual shall be used in the selection process, and that his or her corporate experience shall not be taken into account, and the contract would be signed with the proposed individual. This Call for Expression of Interest will lead to the preparation of a Short List of individual consultants. For evaluation of the expressions of interest the following criteria will be applied:

a) General Education Qualification and Relevant Training (15 points);
b) Experience Related to the Assignment (85 points);

The Individual consultant will be selected in accordance with the procedures set out in the Africa Union Procurement Guidelines. Further information can be obtained at the address below during office hours 8:00-13:00hrs and 14:00-17:00 hours Local Time.

CVs should be submitted to the address below (by mail, or by fax, or by e-mail) not later than 15:00 hour’s local time, July 20, 2018.

African Union Commission,
Attn: Carine Toure Yemitia (Mrs.)
Head of Procurement Travel and Store Division
Building C, Room 327
P.O.Box 3243, Roosevelt Street
Addis Ababa, Ethiopia
Tel: +251 (0) 11 551 7700 – Ext 4371
Fax: +251 (0) 11 551 0442; +251 11-551-0430
E-mail: tender@africa-union.org