Somalia Capacity Advancement, Livelihood and Entrepreneurship, through

Country: Federal Government of Somalia (FGS)
Name of the Project: Somalia Capacity Advancement, Livelihood and Entrepreneurship, through
Digital Uplift Project (SCALED-UP),
Assignment Title: Consultancy Services to Provide Financial Audit Services to Gargaara Company
Project ID: P168115
Deadline Date: May 27, 2020
Ref No. MoF/SCALED-UP/EOI/2020/0016
1. Background: The Federal Government of Somalia (FGS) is undertaking a series of reforms to create stability,
and to foster sustainable economic and social development in Somalia. As part of its reform agenda, the FGS is:
i) in the process of implementing a robust, inclusive, and responsible foundational, digital identification system,
with the aim of increasing access to finance and economic opportunities and to pave the way for effective public
service delivery; and ii) has recently established an apex development finance institution called Gargaara to
expand access to finance for Somali entrepreneurs. The FGS has received financing from the World Bank
through the Somalia Capacity Advancement, Livelihoods and Entrepreneurship, through Digital Uplift
Project (SCALED-UP) to strengthen the design and implementation of the proposed digital ID system and to
expand access to finance for Somali medium and small enterprises (MSMEs) through Gargaara.
The objective of the Gargaara audit is to obtain reasonable assurance as to whether the financial statements
reflect a true and fair view of the financial position of the entity. The auditors are expected to i) express an
independent professional opinion on the financial position of Gargaara company limited and to ensure that the
funds utilized to Gargaara’s activities have been used for their intended purposes ii) independently confirm the
books of accounts of Gargaara provide the basis for preparation of the Gargaara’s Financial Statements. Proper
books of accounts have been maintained by Gargaara and also maintain adequate internal controls and supporting
documentation for the transactions.
2. Responsibilities: The successful firm will be tasked to provide financial audit services: The consulting firm
is expected to be able to have the capacity to express independent professional opinion on the financial
position of the company. The audit will be performed in accordance with International Financial Reporting
Standards (“IFRS”) and International Standards of Auditing (“ISA”). All other specific tasks detailed in in the
Terms of Reference (TOR) for the assignment that can be found at the following website:
and link
or in person or by e-mail. The e-mail address is provided below.
3. Duration: The proposed duration for the assignment is twelve (12) calendar months from starts date.
4. The Ministry of Ministry of Finance now invites eligible consulting firms (“Consultants”) to indicate their
interest in providing the Services. Interested Consultants should provide information demonstrating that they
have the required qualifications and relevant experience to perform the Services (brochures, description of
similar assignments, experience in similar conditions, availability of appropriate skills among staff etc.). The
shortlisting criteria are as follows
1. Core business of the firm and years in business.
2. Specific experience in successfully performing similar assignments. This must include a profile on past
work done for clients in the region and internationally. List of at least three clients with registration and
establishment similar to Gargaara in the region or internationally
3. Experience of relevant services in an environment similar to that of Somalia; and
4. Technical and managerial organization of the firm (provide only the structure of the organization,
general qualification and number of key staff). Do not provide CVs of key staff. Key experts will not
be evaluated at the shortlisting stage.
5. Attention of interested Consultants is drawn to section III, para 3.14,3.16 & 3.17 of the World Bank’s
Procurement Regulations for IPF Borrowers: Procurement in Investment Projects Financing Goods, Works,
Non -Consulting and Consulting Services, July 2016, revised November 2017 and August 2018 (“Procurement
Regulations”), setting forth the World Bank’s policy on conflict of interest.
6. Consultants may associate with other firms to enhance their qualification but should indicate clearly whether
the association is in the form of a joint venture and/or a sub-consultancy. In the case of a joint venture, all the
partners in the joint venture shall be jointly and severally liable for the entire contract, if selected
7. A Consultant will be selected in accordance with the Consultant Qualification Selection (CQS) method set
out in the Procurement Regulations.
8. Interested Consultant may obtain further information (in person or by e-mail) at the address below during
office hours from 8.00 a.m.– 4.00 p.m. Saturday to Thursday except on public holidays.
9. Deadline for submission: Expressions of interest should be delivered in a written form to the address below
(in person, or by e-mail) by May 27, 2020 at 4.00 p.m. local Time.
Attention; the Procurement Specialist
Ministry of Finance
Federal Government of Somalia
Shangani District
Mogadishu, Somalia
Email Address:

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