EOI - Financial Sector Development and Investment Specialist - PIFD at the African Development Bank Group (AfDB)

The African Development Bank (“AfDB”) is a regional multilateral development bank whose shareholders include the 54 countries in Africa and 27 non-African countries from the Americas, Asia, and Europe. The Bank was established in 1964 with its headquarters in Abidjan Cote d’Ivoire. The Bank’s primary objective is to promote the economic development and social progress of its regional member countries, individually and jointly. The central goal of the Bank’s activities is promoting sustainable growth and reducing poverty in Africa. The Bank thus finances a broad range of development projects and programs.

We are recruiting to fill the position below:

Job Title: Expression of Interest for Financial Sector Development and Investment Specialist - PIFD

Location: Abidjan, Côte d'Ivoire with remote working as a possibility
Consultant type: Individual Consultant
Job family: Finance
Duration of the assignment: 12 months
Tentative Date of commencement: June 12th, 2023

Brief Description of the Assignment

• Under the general supervision of the Financial Intermediation and Inclusion (PIFD.1) Division Manager, We have the pleasure to inform you that the African Development Bank Group (‘AfDB’ or the ‘Bank’) will require the Services of a Private Sector Development and Investment Specialist hereafter the ‘Consultant’ to support in the origination of new financial sector investments across Africa; processing of ongoing operations as well as other projects and initiatives of the Division’s growing business operations and activities in support of financial sector development in Africa.

Job Brief

• The primary role of the Financial Sector Development (PIFD) Department is to help the Regional Member Countries (RMCs) increase the reach, depth, and breadth of their financial systems, while safeguarding financial stability. The Department has four long-term objectives:
  • Development of a vibrant private sector through an inclusive access by households and enterprises to financial services;
  • Strengthening markets participants;
  • Developing efficient capital markets, and
  • Deepening regional financial integration.
• Financial Intermediation and Inclusion Division (PIFD1) focuses on supporting and developing financial intermediaries by promoting innovative financial and nonfinancial products and services that are responsive to the needs of Bank’s clients in a bit to boost and increase access to finance and financial services by private enterprises including African SMEs, as well as other underserved sectors and populations such as Women and Youth.
• PIFD1 requires the services of a Consultant to support the Investment Team in originating, appraising and processing of financial sector investments across Africa, partnering with local financial institutions and introducing (new) financing instruments, in order to develop efficient financial systems that will increase financial inclusion and fuel economic growth.

Duties and Scope of Work
Under the overall guidance of the Manager – Financial Intermediation and Inclusion Division (PIFD1) and under the immediate supervision of the assigned Task Manager(s), the consultant will be required to perform the following duties:

• Participating in or leading the preliminary evaluation of both lending and non-lending projects. This involves the initial screening of project applications, carrying out of desk reviews and evaluation of feasibility studies, preparing preliminary evaluation notes for presentation to the Department Management Team and more detailed project concept notes to obtain concept clearance for full appraisal or fact-finding missions;
• Participating in the planning and execution of appraisal and fact-finding missions. This includes developing terms of reference for the mission, monitoring the work of the mission team, and carrying out independent research. The work also includes assessing the risks of projects and advising on appropriate structure or conducting preliminary negotiations with sponsors;
• Preparing project appraisal reports for presentation to the Department, the various review committees and finally to the Board of Directors;
• Ensuring that all conditions precedent have been fulfilled on a timely basis and all fees are billed and collected from clients;
• Developing relationships within the Bank and with other institutions involved in financial markets development; Participate in seminars, workshops and conferences dealing with financial markets issues;
• Coordinating closely with social environmental, and technical assistance colleagues in order to add value to our clients’ businesses, find pragmatic solutions to the specific sector challenges, and achieve sustainable development impact;
• Assist in integrity due diligence for potential clients;
• Building and maintaining strong relationships with clients, global and regional private businesses, banking and multilateral partners to deepen the financial sector and to develop specific investment opportunities;
• Any other duties as may be assigned by the Manager, PIFD1.

Required Qualification and Experience

• Advanced Degree at Master’s level in Finance, Banking, Economics, Business Administration, or any related field;
• At least seven (7) years of relevant professional experience involving lending or investment and non-lending operations or activities aimed at financial sector development in emerging and/or developing markets;
• Demonstrated a good knowledge of RMCs or developing economies, the capacity of conceptual and strategic analysis, and good command of undertaking comprehensive due diligence including financial analysis of financial institutions, including banks, non-bank financial institutions and private equity funds;
• Demonstrated good knowledge of applying a variety of financial intermediation instruments such as debt, equity, guarantees, and other complex financial deal structuring;
• Ability to identify possible shortcomings of client (financial) institutions and to propose solutions, formulated through detailed technical assistance proposals;
• Capacity to conduct independent research and analyses, identify problems, propose solutions, and make recommendations to Management;
• Capacity to prepare reports and documents. Capacity to present and defend the consistency of proposed programs and projects. Capacity to work within specified time limits;
• Strong interpersonal skills and ability to interact directly and independently with senior management of potential clients, financial and technical partners, and government officials, and colleagues from various cultural backgrounds;
• Excellent communication and negotiation skills; Proficiency in French (spoken and written) is essential, an excellent command of English is preferrable;
• Command of standard computer software applications; proficiency in the use of Microsoft Office applications (Word, Excel, and PowerPoint);
• Excellent knowledge of Bank’s rules and procedures would be an asset.

Eligibility Criteria

• The eligibility criteria, the establishment of a short list and the selection procedure shall be in conformity with the Bank’s Rules and Procedure for acquisition of Consulting Services funded by the Administrative or Capital Expenditure Budget.
• Please note that interest expressed by a consultant does not imply any obligation on the part of the Bank to include him/her in the shortlist.

The proposals to be submitted by the Consultants shall be evaluated on the basis of the following criteria:

• General qualifications and adequacy for the proposed assignment - 25 points
• Experience in the specific assignment described in the TOR - 50 points
• Experience with international organizations, MDBs or DFIs - 10 points
• Language capacity (French essential, English a key advantage) - 10 points
• Experience within the African continent region - 5 points

Application Closing Date
2nd June, 2023 COB 5.00 PM (Abidjan time)

How to Apply
Interested and qualified candidates (Individual Consultants) should submit their CV in writing "Attention: Robert ZEGERS" via email: [email protected] Cc: [email protected] / [email protected] using "Individual Consultant – Financial Sector Development and Investment Specialist" as the subject of the email.

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Click here for the Job Description (PDF)

Note: Interested Individual Consultants may obtain further information at the email address below during the Bank’s working hours: from 8.00 AM to 5.00 PM (Abidjan time).