The African Securities Exchanges Association now invites eligible individual consultants to indicate their interest in providing this service ‘Project Manager for the Africa Exchanges Linkage Project’.
According to the GSE, interested consultants must provide information indicating that they are qualified to perform the services (brochures, description of similar assignments, experience in similar conditions, updated Curriculum Vitae, etc.).
Meanwhile, eligibility criteria, establishment of the short-list and the selection procedure shall be in accordance with the African Development Bank’s “Procurement Framework for Bank Group Funded Operations,” dated October 2015,
The African Exchanges Linkage Project (AELP) is a co-initiative of the African Securities Exchanges Association (ASEA) and the African Development Bank (AfDB) aimed at enabling cross-border trading and settlement of securities across participating exchanges in Africa. The goal is to boost Pan-African investment flows, promote innovations that support diversification needs of investors in Africa, and help address the lack of depth and liquidity in Africa’s financial markets.
The AELP In its initial phase has created linkages among seven (7) African capital markets that represent over 85% of Africa’s market capitalization. The participating Exchanges are: i) Nigerian Stock Exchange (NSE); ii) Nairobi Securities Exchange (NSE); iii) Johannesburg Stock Exchange (JSE); iv) Casablanca Stock Exchange (CSE); v) Bourse Régionale des Valeurs Mobilières SA (BRVM); vi) Stock Exchange of Mauritius (SEM) and vii) Egyptian Exchange (EGX).
Phase 2 of the project will expand participation by connecting Botswana Stock Exchange (BSE) and Ghana Stock Exchange (GSE) and other members potentially increasing the number of participations from 7 to 15 exchanges.
Tasks and Deliverables
The Project Manager will drive the AELP expansion and implementation in potentially eight participating markets in the Phase 2 markets.
The Project Manager (PM) shall also lead the implementation of the AELP and will be responsible for the planning, executing, monitoring, controlling and successful closure of the linkage project activities, and ensuring consistency with ASEA/ AfDB’s commitments and goals.
The PM will organize stakeholder events in the different markets covered by the AELP and participate in workshops and conferences, as well as provide knowledge contributions in topics and events where the AELP is presented.
The Project Manager will also manage relationships and communication with the different stakeholders for the AELP; and lead and coordinate engagements with financial and capital market stakeholders in the participating markets of the AELP. The consultant will report to the Project Steering Committee, and work closely with the ASEA Secretariat and AELP Technical, Legal and Commercial committees.
The duration of assignment is twenty one (21) months, effective from the date of resumption. The Project Manager will be based at the ASEA Secretariat hosted by Nairobi Securities Exchange, Nairobi, Kenya.
Consultant Qualifications and Requirements
The Project Manager is expected to have a combination of skills including technical and business acumen, project management, and interpersonal skills, including: At least a master degree in Finance, economics or a related subject. A professional finance qualification will be a distinct advantage.
The PM must also have at least 7 years of experience working directly on capital markets or on related subjects; Strong recent experience in a leading complex projects related to capital markets; Experience in financial services within product development or a technology discipline will be a distinct advantage.
Moreover, experience in managing projects funded by multilateral donors is highly desirable. Good knowledge of the African capital market ecosystem, specifically the markets covered by the AELP.
Good knowledge and understanding of the capital market investment process, from mandate origination, trade execution, clearing and settlement processes is a needed quality that the PM must possessed.
The Interested PM must also be analytical and process oriented with ability to quickly assess weaknesses in business processes or solutions; An understanding and knowledge of how to mitigate risk factors, from operational risks to financial risks.
He must have excellent interpersonal and communication skills; Clear and excellent presentation skills; Good stakeholder management skills; Fluency in English or French with good command of the second language is required.
The African Securities Exchanges Association (ASEA) has received financing from the African Development Bank Korea-Africa Economic Co-Operation (KOAFEC) Trust Fund, towards the cost of the African Exchanges Linkage Project (AELP) Phase 2 and intends to apply part of the agreed amount for this Grant to payments under the contract for Project Management Services.
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