EthSwitch s.c invites sealed bids from eligible firms/bidders with demonstrated expertise in implementation of end-to-end process of IFRS conversion to express their interest to assist of the intended assignment.
Invitation to National Competitive bidding for the procurement of Consultancy Services on International Financial Reporting Standards (IFRS) implementation - Bid No. EtS/002/19
EthSwitch S.C is an operator of the national e-payment switch and clearing system for all interbank electronic payments in Ethiopia.
The main objective of the assignment is to guide and assist EthSwitch in proper implementation of IFRS and related activities arising from IFRS conversion process.
1. EthSwitch s.c invites sealed bids from eligible firms/bidders with demonstrated expertise in implementation of end-to-end process of IFRS conversion to express their interest to assist of the intended assignment.
2. Bidders are required to attach renewed consultancy/professional/trade license, TIN certificate, VAT Registration Certificate, renewed certificate of registration as Accounting and Auditing Firms from AABE with their Bid document.
3. The consulting firm shall have employees with appropriate professional qualifications and IFRS implementation experience in financial institutions preferably in Fintech (financial technology) entities. Further, the firm should have:
a. A team leader shall be a certified public accountant and/or Association of Chartered Certified Accountants (ACCA) with at least three previous professional experience in implementing IFRS norms in Ethiopia;
b. Expertswith accounting or financial backgrounds, with previous professional experience in implementing assignments related to IFRS norms in Ethiopia;
c. Experts in information technology, with at least five years’ experience in financial technology and having participated to at least one assignment implementing IFRS with a client using an accounting information technology.
4. The bidder among other things shall prepare and submit to the client relevant report, documents, provide training with manual& share his experience and skills to EthSwitch staffs. The assignment will be undertaken over a period of 90 (Ninety) calendar days as of contract signing.
5. The bid must be accompanied by bid security2% of the bid price and should be placed inside the original financial proposal, specified in the Bidding documents.A confirmation letter must be attached for the bid security and should be placed inside the original technical proposal envelope. The confirmation letter should include:
Name of the bank which prepares the bid security;
Reference number of the bid security;
Bid security validity period;
Bid security shall be in the form of unconditional Bank Guarantee or CPO.
6. The bid must remain valid for 90 (Ninety) calendar days after the date of bid opening prescribed below. Accordingly, the bids shall be valid through May22, 2019.
7. A complete set of bidding document in English Language can be purchased by interested Bidders from EthSwitch S.C. starting from Monday January 28, 2019, upon payment of a nonrefundable fee of ETB 200.00 (Two hundred); from Monday – Friday: from 8:30 AM – 12:00 PM and from 1:30 PM – 5:00 PM and Saturday from 8:30 AM – 12:00 PM.
8. Bids shall be submitted in two separate sealed envelopes: technical proposal envelope and financial proposal envelops each having one “original” and one “copy”. All eligibility/registration/certificates should be attached in the original technical envelop.
9. The bids will be closed and opened on the same day in the presence of the bidders’ representatives who wish to attend, in the conference room of EthSwitch on Thursday, February 28, 2019 at 11:00 AM. Late bids will be rejected & shall be returned unopened to the bidder.
10. EthSwitch reserves the right to cancel the bid either partially or totally.
11. For further information please contact:
EthSwitch S.C. Administration Division
Kazanchis Supermarket Area of Addis Ababa, on the 4th Floor of Nega City Mall (opposite to Zemen Bank), Office No 410.
Tele: 0115-571204/0115-571583/0115-571728; Fax: +251-11-5571115.