Chief Executive Officer (CEO) – Mogadishu, Somalia

FEDERAL GOVERNMENT OF SOMALIA – MoF

Chief Executive Officer (CEO) – Mogadishu, Somalia

 

FEDERAL GOVERNMENT OF SOMALIA

MINISTRY OF FINANCE

 

REQUEST FOR EXPRESSION OF INTEREST (REOI)

 

Country: Federal Government of Somalia (FGS)

 

Name of the Project: Somalia Capacity Advancement, Livelihood and Entrepreneurship, through Digital Uplift   Project (SCALED-UP),

Assignment Title: Chief Executive Officer ( CEO)

 

Individual/Firm: Individual Selection

Project ID: P168115

Deadline    Date:   February 20, 2021

Ref No.  MoF/SCALED-UP/EOI/2021/0001 

 

  1. Background: The Ministry of Finance (MoF), on behalf of the Government has recently incorporated an apex development finance institution called Gargaara. It will be operating on commercial terms and conditions, including market-based pricing and take care to ensure not to crowd out private commercial institutions. This institution will work closely with Somali financial intermediaries and international development financial institutions (DFIs) to expand commercial access to finance for businesses and individuals with a view to improve lives and livelihoods of ordinary Somalis.

Gargaara is set up to leverage private capital, when its ready and forthcoming, to encourage entrepreneurship and support generation of jobs through high-growth MSMEs and access to finance. This new apex institution is structured on private sector principles and will benefit from a range of innovative approaches and blending tools to attain a far greater leverage of the US$15 million initial public funds being injected through the Somalia Capacity Advancement, Livelihood and Entrepreneurship, through Digital Uplift Project (SCALED-UP), a US$31 million four-year World Bank project that aims to support progress towards increased access to basic digital financial and government services targeting entrepreneurship and employment, particularly for women. Further down the line, Gargaara will be opened to sequential private sector investment and shareholding through follow-on fund-raising, from international sources including DFIs thereby sustaining the most dynamic MSMEs and provision of jobs, in a capital-constrained environment.

The MoF intends to use part of the proceeds from SCALED-UP to hire and Individual Consultant (Chief Executive Officer) and operationalize Gargaara as an apex institution to deliver financing to participating financial intermediaries (PFIs) for on-lending to Somali businesses and individuals. The objective is to kick-start financial intermediation for underfunded MSMEs representing the core of the Somali economy including women.

  1. Scope of Work: The scope of work of the CEO includes strategic management and governance of Gargaara, market outreach, team management and development, board relationships and fiduciary responsibilities. The CEO will carry out all tasks outlined in these terms of reference, as well as any other related tasks that may be required to achieve the objectives of this role and all other specific tasks detailed in the Terms of Reference (TOR) for the assignment that can be found at the following website:  www.mof.gov.so and link https://www.mof.gov.so/publication/gargaara-ceo-tor or can be provided upon submission of application in person or by e-mail. The e-mail address is provided below.
  2. Duration: The proposed duration for the assignment is twelve (12) calendar months from starts date.
  3. Selection Criteria: The selection shall be based on qualification, experience and skills of the candidate and followed by an interview. The qualifications, experience and competencies include:
  4. Master’s degree in Banking, Finance, Economics, Business Administration, or similar discipline with minimum 8 years of experience in a relevant managerial position or business sector such as MSME lending activities or MSME access to finance programs in developing countries.
  5. Alternatively, a Bachelor’s degree in Banking, Finance, Economics, Business Administration, or similar discipline with minimum 10 years of experience in a relevant managerial position or business sector such as MSME lending activities or MSME access to finance programs in developing countries.
  • Prior experience managing international donor-funded financial sector or enterprise development projects; coordinating, cooperating and working with high level government officials, donor partners, private businesses and multitude of stakeholders
  1. Experience in the design and delivery of capacity building programs in a relevant position or business sector. Understanding of financial and private sector development issues in fragile and conflict affected states. Experience working in a fragile and conflict affected state is an added advantage.
  2. Entrepreneurial spirit with management experience in financial services, investments, or relevant business sector.
  3. Proven leadership and strong interpersonal skills.
  • Ability to work effectively in environment of ethnic, gender and religious sensitivity.
  • Proven ability to work under pressure and ability to embrace and manage change.
  1. Familiarity with economy and political context of Somalia will be an advantage.
  2. Excellent written and verbal skills in English and Somali language is required. Fluency in Arabic is an added advantage.
  3. The Ministry of Finance now invites eligible consulting (“Consultants”) to indicate their interest in providing the above-mentioned Services. Interested Consultants should provide information demonstrating that they have the required qualifications and relevant experience to perform the Services and furnish the Curriculum Vitae (CV).
  4. 6. Attention of interested Consultants is drawn to section III, para 3.14,3.16 & 3.17 of the World Bank’s Procurement Regulations for IPF Borrowers: Procurement in Investment Projects Financing Goods, Works, Non -Consulting and Consulting Services, July 2016, revised November 2017 and August 2018 (“Procurement Regulations”), setting forth the World Bank’s policy on conflict of interest.
  5. 7. A Consultant will be selected in accordance with the Individual Consultant method set out in the World Bank Procurement Regulations.
  6. Interested Consultant may obtain further information (in person or by e-mail) at the address below during office hours from 8.00 a.m.– 4.00 p.m. Saturday to Thursday except on public holidays.
  7. Deadline for submission: Expressions of interest should be delivered in a written form to the address below (in person, or by e-mail) by February 20, 2021 at 4.00 p.m. local Time.

Attention; the Acting Project Coordinator

SCALED UP Project

Ministry of Finance

Federal Government of Somalia

Shangani District

Mogadishu, Somalia

Email Address: bidsmof1@gmail.com

Cc                 : board.chair@gargaara.com

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