The African Reinsurance Corporation (Africa Re) is the leading Pan-African reinsurance company and the largest re-insurer in Africa. Headquartered in Lagos (Nigeria), Africa Re operates through six (6) Regional Offices across Africa: Casablanca (Morocco), Abidjan (Cote d'Ivoire), Nairobi (Kenya), Lagos (Nigeria), Cairo (Egypt) and Port Louis (Mauritius) as well as two (2) Contact Offices in Addis Ababa (Ethiopia and Khartoum (Sudan)). It also has three (3) Subsidiary Companies Africa Re South Africa Ltd in Johannesburg (South Africa), Africa Retakaful in Cairo (Egypt) and Africa Re Underwriting Agency Ltd in Dubai (UAE).
Africa Re has a broad-based shareholding of 41 African member States, the African Development Bank (AfDB), 114 African insurance and reinsurance companies, and three (3) non regional shareholders, all leading global insurers and reinsurers.
The Financial Strength and Credit Rating of Africa Re is A by A.M. Best Company and A - by Standard & Poor's.
Africa Re is Headquartered in Lagos (Nigeria), with Regional Offices / Contact Offices / Subsidiaries in the following cities:
1. Abidjan (Cote d'Ivoire),
2. Casablanca (Morocco),
3. Cairo (Egypt)
4. Ebène (Mauritius)
5. Lagos (Nigeria)
6. Nairobi (Kenya)
7. Johannesburg (South Africa)
8. Addis Ababa (Ethiopia)
9. Khartoum (Sudan)
10. Dubai (UAE)
Africa-Re would like to engage the services of a reputable and technically qualified Consultancy Firm with extensive expertise in labour market analysis, management and organizational development to undertake a SALARY SURVEY AND BENCHMARKING PROCESS for the Corporation's local and international staff. Amongst others, the Consultant will:
1. Propose a detailed methodology and work plan acceptable to Africa Re on how they will approach and conduct the work considering the peculiar nature of the Corporation.
2. Compile and suggest to Africa Re a list of employers which may be considered as competitors / comparators for the purpose of establishing a competitive / comparable salary scale remuneration. The list shall be subjected to final approval by Africa Re.
3. Conduct a salary survey and give support in establishing a revised and reasonable salary scale, allowances and other incentives for all staff based on the latest prevailing market rates for similar work of comparable quality and complexity.
4. Conduct a survey, targeting amongst other comparators, a minimum of five (5) major reinsurance competitor's /comparator companies to confirm their staff compensation and rewards elements and practice. (The selected/targeted reinsurance companies must be agreed by Africa Re).
5. Produce an internal report for Africa Re consisting of data on best comparator employers.
6. Present a draft analysis report to Africa Re and make recommendations on the proposed salary scale, taking into consideration other Comparator's scales for similar positions.
7. Prepare a separate pull-out report on cost-of-living indices in each of Africa Re's operating locations or contact offices.
8. Prepare a Final Report, incorporating comments from Africa Re.
Please download full RFP below
Proposal Submission Deadline: 31 May 2021
