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AFRICAN REINSURANCE CORPORATION (AFRICA RE)-

REQUEST FOR PROPOSAL (RFP) – CONSULTING PARTNER FOR THE IMPLEMENTATION OF IFRS 17 LAGOS, NIGERIA

REQUEST FOR PROPOSAL (RFP) – CONSULTING PARTNER FOR THE IMPLEMENTATION OF IFRS 17
LAGOS, NIGERIA
CLOSING DATE FOR APPLICATIONS: 2021-05-13

1.0 BACKGROUND
Established in 1976 by 36 member States of the African Union and the African Development Bank Group (AfDB), THE AFRICAN REINSURANCE CORPORATION (AFRICA RE), the leading reinsurance company in Africa and the Middle East, is a pan-African financial institution whose shareholding is split between African (75%) and Non-African (25%) investors. African shareholding comprises 41 African states, the AfDB and more than 100 African insurance/reinsurance companies companies from the 41 member countries. Headquartered in Lagos (Nigeria), Africa Re has a continental network of regional and local offices in Lagos (Nigeria), Casablanca (Morocco), Nairobi (Kenya), Abidjan (Cote d’Ivoire), Ebene (Mauritius), Cairo (Egypt), Addis Ababa (Ethiopia) and Dubai (UAE) as well as two subsidiaries: Africa Re (South Africa) Ltd in Johannesburg and Africa Retakaful Ltd in Cairo (Egypt).

Africa Re is currently in the process of implementing the IFRS 17 Insurance Contract in compliance with the International Accounting Standards Board (IASB) Exposure Draft which becomes effective for reporting periods beginning on or after 1 January 2022, thus heralding a new era of accounting for insurers.

2.0 OBJECTIVES
The African Reinsurance Corporation is seeking to engage a Consulting firm that will act as an Implementation Partner to assist the Corporation in all aspects of the IFRS 17 & 9 implementation. The preferred implementation Partner will apply the business knowledge, technical skills, and the experience acquired in the course of executing similar assignments for their other clients in accomplishing the expected deliverable to Africa Re

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