Please read the detailed instructions below. ከስር የተጠቀመጠውን እያንዳንዱን መረጃ በጥንቃቄ ያንብቡ።

Invitation of Competitive Bid 

for External auditors to Akufada MFI

Akufada Micro Finance Institution S.C is a share company registered by the National Bank of Ethiopia according to Micro-Financing Business Proclamation No. 626/2009 and (amendment) proclamation No. 1164/2019. Its business license was issued on 01/08/2022 with license number MFI/055/2022.

Akufada Microfinance Institution was founded by 1886 shareholders and officially has been started its business operation on October 22/2022. The institution is making efforts to establish a reliable and transparent financial system for its shareholders, government regulators and any internal or external information users.

Akufada Micro Finance Institution’s head office is located in Amhara regional state of Debre Birhan City administration and the institution currently has 50 (fifty) Branches in Seven regions of the Country. The Regions which akufada operatings are Addis Ababa, Central Ethiopia, Oromia, Amhara, Sidama, Diredawa and South west Ethiopia.

The institution wants to invite certified and experienced auditor or audit firm for the three consecutive years (2026-2028) accounting period which fulfill the requirements of appointment of external auditor of a micro finance Institution Directive No. MFI/37/2024 which is issued by National Bank of Ethiopia.

Requirements include but are not limited to:

1. The audit firm is licensed by AABE and has subsequently renewed business license as appropriate; Tin number and vat registration certificate

2. The members of audit team have IFRS knowledge as evidenced with IFRS training certificate;

3. The audit manager has at least three years’ experience in auditing financial institutions; and other audit team members shall have banking and microfinance sector experience and/or adequate experience in auditing financial Institutions, in consideration of size and complexity of the Microfinance Institution

4. The proposed audit team members have adequate knowledge, understanding and training with regards to fair value estimation and are able to check the robustness of the processes for determining fair value of assets and liabilities; and also are able to evaluate key assumptions and inputs that a Microfinance Institution has used in its valuations;

5. The audit firm and its partners, directors, managers or members of the proposed audit team: have not been insolvent or declared bankrupt by court, have not been convicted by the court for any criminal offence, fraud/ forgery, financial crime or other illegal activities, are not defaulter of any Microfinance Institution or other financial institution, and are not defaulter of any tax obligation

6. The external auditor, its partners or its audit team members as well as their associates do not operate any deposit account and are not direct or indirect borrower and/or user of our Microfinance Institution, except at arm’s length basis;

The Competitive bidders who fulfill the required criteria’s and Obliged the responsibilities in line with the mentioned directives, Can submit your three (3) years detail technical and financial proposal, the audit manager and audit team profile and work experience to Akufada MFI wosen branch, A. Abeba, wosen in in front of Total fule station with in 10 (Ten) Consecutive working days including Saturday starting from the issuance of this notice on this newspaper.

The Bid will be closed at 10:00 am and opened 10:30 Am in front of the bidders (representatives) at the last day of the closing date

The institution has a full right to cancel this bid partially or totally in any circumstance.

For further clarification, you can contact through the following address.

Addres:- 4 kilo

Tele. 011 637 6457 / 011 637 6668

Akufada Micro Finance Institution S.C