Cultivating New Frontiers In Agriculture (CNFA)- Request For Proposal For Security And Exchange Commission (SEC) Review Of Investment And Securities Act 2007

DEADLINE: 24TH MAY, 2021
CULTIVATING NEW FRONTIERS IN AGRICULTURE (CNFA)
RFP: SECURITY AND EXCHANGE COMMISSION (SEC) REVIEW OF ISA 2007 – (366)

JOB DESCRIPTION

SECTION 1: INTRODUCTION, TECHNICAL BACKGROUND AND SCOPE OF WORK
(1.1) Introduction: The Feed the Future Nigeria Agribusiness Investment Activity is a USAID program implemented by CNFA in Nigeria. The goal of the Feed the Future Nigeria Agribusiness Investment Activity project is to strengthen the enabling environment for agribusiness finance and investment. To achieve this goal, the activity focuses on four interrelated components:

(1) improving the agribusiness enabling environment;

(2) broadening access to finance by mitigating the credit risks of agribusinesses;

(3) facilitating investment opportunities for agribusinesses to expand and scale up operations; and

(4) enhancing the performance of agribusiness Medium Small and Micro-Enterprise (MSMEs).

In line with the U.S. and Nigerian Government’s commitment to growing the non-oil-based economy, these efforts will increase the quality, quantity, market access, and diversification of Nigeria’s economy.

The Activity works with relevant stakeholders to implement reforms to improve Nigeria’s agribusiness enabling environment through sector competitiveness research and undertakes investment climate reforms to fix obstacles to competitiveness as well as support government institutions with drafting and implementation of investor-friendly policies.  It promotes access to agricultural finance from a variety of traditional and non-traditional financial institutions and creates commercially viable business linkages along select agricultural value chains to attract potential foreign and domestic investment.

The agricultural markets in Nigeria remain largely underdeveloped and inefficient, lacking adequate storage and transport infrastructure and strong supporting institutions and instruments that enable producers to manage marketing and price risks. High transaction costs, imperfect information and incomplete markets contribute to inefficiency in agricultural markets, implying the need for strong non-market institutions to promote fluid and efficient exchange. It is within this framework that a commodity exchange market, developed hand in hand with a regulated Warehouse Receipt system, will enhance agricultural trade in the country by allowing beneficial market transactions that will otherwise not occur. The system is expected to curtail cheating on weights and measures from which disadvantaged smallholders suffer and reduce storage losses. It will ease access to finance at all levels in the marketing chain (producer, trader, and processor), and encourage injection of much needed liquidity. Trade margins will be reduced, and seasonal price variability will be moderated to the benefit of producers and consumers. Producers and other players will be able to mitigate their price risks and participate in a modern and efficient agricultural trade (both locally and in the sub-regions) with certified warehouses guaranteeing contract performance.

By virtue of being the regulator of the commodity exchange market system in Nigeria, the Securities and Exchange Commission (SEC) plans to empower the exchange market by integrating it with the Warehouse Receipt System (WRS) to contribute to improved agricultural commodity trade, reducing market instability and assist small scale farmers access credit from financial institutions. The Activity will be supporting this integration technically because of the significant role the Warehouse Receipt System plays in a commodity market ecosystem in overcoming product marketing issues and helping small scale farmers access credit from financial institutions.

Offerors are responsible for ensuring that their offers are received by CNFA in accordance with the instructions, terms, and conditions described in this RFP. Failure to adhere with instructions described in this RFP may lead to disqualification of an offer from consideration.

CNFA will consider proposals in response to this RFP from both local Independent Consultants and Firms. International firms/consultants will not be considered for this assignment.

APPLICATION SUBMISSION
Offer Deadline and Protocol: Offers must be received no later than 5:00PM, WAT, on May 24, 2021. Offers must be submitted by mail to operations@ag-invest.org.

Please reference the RFP number in any response to this RFP. Offers received after the specified time and date will be considered late and will be considered only at the discretion of CNFA. The cover page of this solicitation summarizes the important dates of the solicitation process. Offerors must strictly follow the provided deadlines to be considered for award.

ATTACHMENT
Security and Exchange Commission (SEC) Review of ISA 2007