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Expression of Interest - Search and Selection of the Board of Directors and Senior Management for the Development Bank, Ghana (DBG)



Name of Project

Ghana Development Finance Project

Loan No./Credit No./Grant No


Assignment Title

Search and Selection of the Board of Directors and Senior Management for the Development Bank, Ghana (DBG)


Reference No



The Ministry of Finance (MoF) has received a project preparation advance (PPA) from the World Bank towards the cost of the Ghana Development Finance Project (the Project), and it intends to apply part of the proceeds for consulting services.


The Project’s objective is to increase access to finance for Ghanaian enterprises, particularly small and medium enterprises (SMEs). Women-owned/led SMEs will be particularly targeted. The Project will support the establishment of the Development Bank, Ghana (DBG), which will provide wholesale financing/lines of credit and partial credit guarantees (PCGs) to eligible participating financial institutions (PFIs), and support the development of a digital financing platform, among other activities.


The DBG will be a wholesale development bank, established as a company, licensed by Bank of Ghana under the new Development Finance Act under preparation, and will have sound corporate governance (independent board and professional management).


The consulting services (the Services) include the provision of independent and external Human Resources (HR) consultancy services for the professional and competitive selection of the Board of Directors and Senior Management, including the Chief Executive Officer (CEO), the Deputy Chief Executive Officer (Deputy CEO), the Chief Finance Officer (CFO), and the Chief Risk Officer. (CRO).

The detailed Terms of Reference (TOR) for the assignment can be found at the following website:

The Ministry of Finance now invites eligible consultancy firms (“Consultants”) to indicate their interest in providing the Services. Interested Firms should provide information demonstrating that they have the required qualifications and relevant experience to perform the Services by submitting the most current company profile. The shortlisting criteria of the Firm are:

  • Minimum of 10 years of experience in the provision of HR services to corporate clients;
  • Track record of successful completion of executive search assignments for financial sector clients, with at least two assignments completed in the last three years;
  • Knowledge of the Ghana financial sector job market would be an advantage.

Key Experts will not be evaluated at the shortlisting stage.

The attention of interested Consultants is drawn to Section III, paragraphs, 3.14, 3.16, and 3.17 of the World Bank’s “Procurement Regulations for IPF Borrowers” July 2016 revised November 2017 and August 2018.  Setting forth the World Bank’s policy on conflict of interest.

Consultants may associate with other firms to enhance their qualifications, 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.

A Consulting Firm will be selected in accordance with Quality and Cost Based Selection Method set out in the Procurement Regulations.

Expressions of interest which must bear the title “Firm to support the selection of the board and management of the DBGmust be delivered in a written form to the address below (in person or by mail, or by e-mail) by 5:00pm GMT on July 3rd, 2020

Further information can be obtained at the address below during office hours from 8:30 am to 4:30 pm, local time or through


Address – For Submission of Expressions of Interest:


Ministry of Finance,
28th February Road,
Finance Drive,
P.O. Box MB 40

New Block, Room 119
Attention: Project Coordinator,
Financial Sector Division (FSD)
Telephone Number +233(0)240-956-958


Online submission:


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you are kindly directed to e-mail your correspondence to the address below: