Request for Proposal
August 30, 2022
Dear Mr./Ms.: Eligible Consultant

1. The Ministry of Finance of the Federal Democratic Republic of Ethiopia (hereinafter called “Client”) has received financing (hereinafter called “the funds”) from the Agence Française de Développement (AFD) toward the cost of Team Leader to provide support to Ministry of Finance in debt management analysis and Function. The Client intends to apply a portion of the funds to eligible payments under the contract for which this Request for Proposals is issued.


2. The Ministry of Finance now invites proposals from individuals to provide the following Services: The team leader will work focusing on building analytics and risk team, design of debt strategy and policymaking, portfolio risk monitoring and analysis, ensuring the continued growth and effective functioning of the DMD and its staff through capacity building programme… etc. More details on the Services are provided in the Terms of Reference (TOR).

2. A team leader shall be selected under the quality-based selection method (qualifications and experience) and cost. The candidate should possess Master's Degree in Economics,Economic Moddiling , Financal economics and related field, at least 6 years of analytical experience in the financial sector, financial consulting, impact advisors, private equity founds, asset management , banking and insurance, sovereign debt advisory (preferable) of which at least 2 years’ experience in managing junior team and other experience and skills as indicated on terms of reference. More detailed qualification, experience and skills required are stated in the Terms of Reference (TOR.
4. This Request for Proposals includes the following documents:
 This Letter of Invitation;
 The letter of Submission of the Proposal;
 Technical Proposal;
 Financial Proposal;
 Terms of Reference;
 Standard Form of Contract.

6. Your proposal shall comprise your Proposal Submission Form, a Technical Proposal (including curriculum vitae (CV)), a Financial Proposal net of taxes and the signed Statement of Integrity, and must be submitted to: agelgelu@mofed.gov.et with a copy to mezgebua2011@gmail.com,and btaye@mofed.gov.et by addressing to Ministry of Finance (MoF), Channel One programs Coordinating Directorate, MoF main building, sadist Killo, yekatit 12 Square, King George Avenue, 4th Floor, Room no.403, Addis Ababa, Ethiopia on or before September 21, 2022 at 3:00pm local time . If necessary, you may request any clarifications by sending an email to the same email address above before September 14, 2022 at 5:00 pm

Yours sincerely


Terms of Reference
Debt Statistics Analysis Team Leader: Support Debt Management Analysis and Functions of Ministry of Finance
March 2022

Ethiopia has witnessed a rapid economic growth performance over the last decade and a half. Despite the contribution of growth in the service and agriculture sectors, the observed growth has been, for the most part, fueled by public investment in critical infrastructures, such as energy and transport. Even if the rapid economic growth has led to significant poverty reduction, sustaining these achievements appears to be difficult. The country’s growth model has hit a problem due to vulnerabilities arising from the accumulated debt, slow export growth, and budget and time overrun in the country’s flagship projects. Acknowledging that these problems, unless addressed, could put a halt to Ethiopia’s development momentum, the government has launched a three-year reform agenda. This reform agenda, named the Home-Gown Economic Reform (HGER) agenda, has been launched in September 2019 and covers three broad reform areas of Macro-Financial Reform, Structural Reform, and Sectoral Reforms.
The Government of Ethiopia (GoE) is undertaking a comprehensive effort to rebalance the country’s macro economy, as part of the Home-Grown Economic Reform (HGER) program and improve its government funding model through the strengthening of its sovereign and sub-sovereign debt management operations, analysis, and reporting.
Ministry of Finance (MoF) is one of the key macro institutions with mandates focusing on fiscal policy, public finance, and external economic cooperation. The Ministry of Finance is the primary agent of the GoE responsible for managing the country’s public debt portfolios. MoF, as enshrined by the Financial Administration Proclamation and the Financial Administration Regulations, ensures sustainable debt management and effective utilization of externally mobilized resources to promote prudent and sound management practices for both Federal Government and State-Owned Enterprises (SOEs) to enhance public finance effectiveness and transparency in the management of public resources.
As part of an AFD-financed project supporting the implementation of the HGER, in a plan to build capacity within relevant directorates, the Ministry of Finance is building an Analytics and Risk team to plan and execute strategic and analytical projects to support the Ministry of Finance Debt Management Directorate (DMD). This initiative is intended to pilot an agile team that can quickly deliver products and analysis while working across all directorate and functions involved in debt management processes, with the potential to integrate permanently into the debt management function as the Middle Office of the DMD, contingent on the success of the pilot.
The Team Lead’s work will focus on:
1. Building a dedicated Analytics and Risk team within MoF and refining the team’s operating model, management structure, support systems, and processes to address institutional needs for strong policy guidance and improved processes and cross-office reporting.

2. Design of debt strategy and policymaking, portfolio risk monitoring and analysis, cash flow forecasting, external reporting, operational risk management (policies, processes, and controls), policy development on contingent liabilities, and manage relationships with rating agencies in coordination with the residing Sovereign advisor of Ethiopia.

3. Ensuring the continued growth, development, and effective functioning of the debt management directorate and its staff through the provision of capacity building programming and day-to-day engagement.

Resident within the MoF and reporting directly to State Minister of Fiscal Policy and Public Finance, the Team Lead is expected to:

A) Lead a team of analysts; develop and manage overall plans based on case planning and prioritization with MoF senior management, and ensure the timeliness, analytical rigor, practicality, and quality of outputs by assuming responsibilities for overall coordination with the DMD team and relevant external stakeholders.

B) Through completion of directed tasks and provision of capacity building, assist DMD in taking an active role in developing the national fiscal strategy, strengthening debt management functions (forecasting, financing analysis, portfolio risk monitoring, and operational risk management) covering both external and domestic debt.

C) Lead, assign, and supervise technical analysis inputs for the Debt Sustainability Analysis, currently done by international support, and develop plan for a handover to a capacitated and dedicated internal team in the medium term (18 months).

D) Plan and develop sensitivity analysis of new loan proposals or offers, risk modeling, and other financial analysis to determine the optimal borrowing plans and liabilities for improved overall national debt management.

E) Plan and develop internal sustainability analysis of State-Owned Enterprise (SOEs) business models and proposed projects alongside the MOF SOE Oversight Office, working together closely with relevant stakeholders, including the Public Enterprises Holding Administration and Ethiopian Investment Holdings

F) Support the DMD’s delivery of high-quality external reporting and programmatic engagement with international financial institutions and ratings agencies.

G) Working closely with the PPP Directorate General of the MoF, PEHA, EIH and SOEs themselves, develop and institutionalize clear policies and procedures for the recording and planning of contingent liabilities and sovereign guarantees.

H) Develop programming to further enhance institutional capacity and team development of the debt management function and related MoF offices.

I) Form recommendations on debt financing in a volatile financial market with the goal of increasing access and improving Ethiopia’s credit rating.

Required qualifications
• Master's Degree in Economics,Economic Moddiling , Financal economics and related discipline preferred
• At least 6 years of analytical experience in the financial sector, including but not limited to, financial consulting, impact advisors, private equity funds, asset management, banking, and insurance; experience in sovereign debt advisory is preferred
• Relevant exposure to debt management and debt statistical analysis
• At least 2 years experience managing junior team members and projects
• Knowledge of current developments and international best practices in debt management and reporting
• Knowledge on the design of debt management strategies, preparation and implementation of government borrowing programs in the domestic and/or international markets, management of operational risks, analysis of risks to public finances arising from the materialization of contingent liabilities
• Exceptional ability to communicate clearly and effectively in a complex, cross-cultural environment and fluency in written and spoken English
• Knowledge of statistical and mathematical modeling and analysis preferred
• Highly collaborative leadership style and demonstrated success in leading, managing, and developing high-performance teams preferred
• Strong understanding of development sector issues, and ability to effectively liaise with senior decision-makers across government, non-governmental and private sector organizations preferred
• Fluency in English and Amharic required.

Duration of employment
The duration of the contract is for project period based on a review of performance and availability of funds ((up to 18-20 Months or until May 31,2024 from contract signature