Call for Proposals: Revision of Securities Issuer Prospectus and Expansion of Financial Products for the Central African Financial Market

Issued by: COSUMAF (Commission de Surveillance du Marché Financier de l’Afrique Centrale), supported by PIDG Technical Assistance funding.

Deadline: April 30, 2025, at 11:00 AM (GMT+1)

Submission Details: Proposals in French (one original + six copies) must be sent to COSUMAF’s General Resources Department OR via email to infos@cosumaf.org and cabinet@cosumaf.org. See the full tender document here for details on the submission format.

Objective
COSUMAF seeks a consultant to revise the regulatory framework for securities issuers and expand the range of financial products in the Central African financial market. The goal is to improve transparency, strengthen investor protection, and support market growth by introducing new financial instruments and updating disclosure requirements.

Key Tasks
The selected consultant will evaluate the existing regulatory framework, identify areas for improvement, and propose updates in line with international best practices. The project includes revising disclosure requirements, introducing verification mechanisms, and expanding financial product offerings such as securitized debt, structured finance, Islamic finance, and sustainable finance. Consultations will be conducted with key stakeholders, and new regulatory guidelines will be developed, including standard templates for issuers. Training will be provided to market participants to ensure effective adoption, with ongoing monitoring mechanisms put in place.

Eligibility
This call is open to consulting firms with expertise in financial markets, particularly in regulatory frameworks and product innovation. Applicants must have a team including a project lead with at least 15 years of experience advising financial regulators, an expert in financial market regulation with a strong understanding of disclosure and governance standards, and a specialist in financial market development with experience in product structuring and investor engagement. The work and all deliverables will be produced in French.

For more details, please see the tender document (in French) on the COSUMAF website.