NOTICE OF RECRUITMENT OF AN INDEPENDENT DIRECTOR
The Fonds Africain de Garantie et de Coopération Économique (FAGACE), an international financial institution specializing in the promotion of public and private investment, was created on February 10, 1977 in Kigali, Rwanda. Its head office is in Cotonou, Republic of Benin. It currently comprises fourteen member states: Benin, Burkina Faso, Cameroon, Central African Republic, Chad, Congo, Côte d’Ivoire, Guinea Bissau, Mali, Mauritania, Niger, Rwanda, Senegal and Togo.
The Fund is organizing a consultation for the recruitment of three (03) independent directors.
1- PURPOSE OF THE CONSULTATION
FAGACE’s recruitment of Independent Directors is part of the implementation of its 2017-2020 Strategic Plan, which includes plans to further strengthen its governance.
In accordance with the Articles of Association, with the exception of the powers vested in the Board of Governors, the Board of Directors has all the powers necessary for the general administration of the Fund.
In general, the role of the independent director is to protect the interests of shareholders and interested third parties in complete independence. The Independent Director’s term of office is three (03) years, renewable once only. Each year, he will be required to attend at least one (01) meeting of the Fund’s Board of Governors, four (04) meetings of the Board of Directors and four (04) sessions of the specialized committees.
In this context, the independent Director must devote the time necessary to the proper performance of his duties, in particular by attending the various meetings mentioned above.
The independent directors, like the directors representing the shareholders, perform their duties without remuneration. However, they receive directors’ fees, the amount of which is set by the Board of Governors.
2- CONDITIONS OF PARTICIPATION AND COMPETENCE
The candidate must have the qualifications, skills and expertise to enable him/her to carry out his/her mission as a member of the FAGACE Board of Directors. In this respect, he/she must have an appropriate understanding of guarantee mechanisms or of the various types of financial activities linked to banking, and a well-developed capacity for analysis. The candidate must (i) have university degrees in specialties related to finance, or economics or management sciences or law; (ii) have at least 15 years’ professional experience in banking, guarantee, risk assessment, public accounting, auditing or private sector investments; (iii) not to have had a professional or business relationship with FAGACE, in any way whatsoever, over the last 10 years; (iv) to be a natural person; (v) to be of good repute; (vi) not to be deprived of his or her civil rights; (vii) not to be the subject of criminal proceedings; (viii) not to have been the subject of a final judgment of bankruptcy; and (ix) not to have been a director or manager of companies declared bankrupt.
3- PRESENTATION OF APPLICATION LETTERS
Interested candidates should submit a letter of motivation written in French, accompanied by the following documents:
– An application on behalf of the Chairman of the FAGACE Board of Directors;
– A cover letter written in French presenting the candidate, the reasons for his application and his profile;
– Candidate’s curriculum vitae
– A copy of a national identity document ;
– Certified copies of diplomas
– Documents justifying, if applicable, the exercise of the function of member of the board of directors of another entity;
– An extract from the criminal record dated less than 3 months ;
– A sworn statement that you have no connection with FAGACE.
Female candidates are strongly encouraged to apply.
Any application that does not include one of the above-mentioned documents will be automatically eliminated.
4- SENDING THE APPLICATION :
The application file, presented in a closed envelope, should be sent or deposited at FAGACE headquarters at the following address
Mr Chairman of the FAGACE Board of Directors
(Consultation for the recruitment of an independent Director)
African Guarantee and Economic Cooperation Fund (FAGACE)
01 BP 2045 RP, Cotonou –BENIN
Téléphone :(+229) 21 30 03 76 15 ; Télécopie :(229) 21.30.02.84
E-mail : courriel.fagace@le-fagace.org; www.le-fagace.org
The deadline for applications is December 8, 2017 at 4:00 pm, Cotonou time.
