08 Sep 2021


Name of Beneficiary and Country: Securities and Exchange Commission (SEC), Ghana
Name of Project: Capital Market Supervision and Market Rules Capacity Building Project
Grant No. G-GH-H00-SUP-001

                                       GENERAL PROCUREMENT NOTICE (GPN)

1. The Securities and Exchange Commission (SEC), Ghana has received a grant from the African Development Bank through the Capital Market Development Trust Fund to finance the Capital Market Supervision and Market Rules Capacity Building Project.

2. The objective of the project is to strengthen the capital market supervisory framework and support the introduction of new market rules for various investment products that contribute to the deepening and broadening of the local capital markets. The specific objectives of the project shall include:

(i)                 implementation of the risk-based supervision approach by Securities and Exchange Commission, Ghana through  development of new or updated operational / inspection manuals and tools consistent with risk-based supervision approach

(ii)               strengthening of institutional capacity of the regulator and enhanced financial market  regulatory environment

(iii)             strengthening of capital market policy and supervisory environment for pooled funds and related service providers, thereby laying a foundation for the growth of pooled funds in the market

(iv)              broadening of capital market instruments in Ghana and an enlarged investor base.

3.         The project has been designed to encompass three components

(i) Strengthening capital market supervisory framework;

(ii) Enabling diversity of investment products;

(iii) project management:

a. Strengthening capital market supervisory framework- this component will involve strengthening the regulator’s technical capacity and preparedness to transition from compliance-based to risk-based supervision approach for the capital market. A resident individual supervision expert with experience in risk-based supervision implementation for capital markets and risk management capacity building shall be embedded within SEC Ghana. A robust supervision framework is key for market stability and growth as well as investor confidence. This component will enhance SEC’s approach in carrying out its monitoring and supervisory mandate.  The activities include:

·        technical support for the risk-based supervision (RBS) framework implementation.

·        support the determination and design of data and risk analytic requirements for subsequent automation of risk-based supervision operations.

·        support the needs assessment and development of relevant operational tools/manuals.

·        capacity building on RBS and general supervision to staff of SEC as well as delivery of training on best-practice risk management for the regulator.

b. Enhancing the diversity of investment products- this component aims to support the introduction or mainstreaming of specific investment products thus helping to diversify the available investment opportunities to deepen the local capital markets. The proposed activities, to be delivered by a consultancy service provider, include but not limited to:

·        supporting the drafting / streamlining of policy and regulatory framework for pooled funds.

·        review and provide recommendations on the supervision of related service providers such as custodians and trustees.

·        development of market rules for asset-backed securities.

c.Project Management – will focus on providing project management support to incorporate project monitoring and evaluation as well as audit. Under this component, the project will cater for the costs related to the financial audit of the project.

4. Acquisition of the services of consultants will follow the Bank’s Rules of Procedure for the Use of Consultants. The Request for Proposals documents are expected to be available in August 2021.

5. Interested consultants may obtain further information, and should confirm their interest, by contacting:

Project Implementation Unit Coordinator:

Mr. Emmanuel Ashong-Katai

Securities and Exchange Commission, Ghana

30 3rd Circular Road Cantonments,

CT 6181, Cantonments, Accra