1. The Authority initiates the licensing process by publishing a notice in the Gazette and in such other manner as the Authority may determine.
2. Pursuant to the publication of the notice, a Request for Proposal (RFP) document is issued specifying the requirements for the submission of an application.
3. The RFP is available upon:
- the submission of a written notice requesting for the same and
- the payment of a non-refundable fee
4. When lodging an application, applicants are expected to comply with the application procedure and format outlined in RFP document.
5. The following is the information that may be specified in the RFP:
- Timetable – The timetable for the application and evaluation process;
- Application fees;
- Evaluation criteria to be applied;
- Type and number of licenses to be issued and any conditions that may apply;
- The area to which the license will relate;
- Any requirement that may be necessary or desirable
6. Once applications are received, the Authority reviews the applications for compliance with the RFP.
7. The evaluation process may take the following format:
- Probity and investigations – The Authority conducts probity inquiries to establish the authenticity of declarations both locally and internationally. Applicants are also subject to anti- money laundering screening.
- Evaluation of key variables – The Authority may consider key variables such as economic contributions, social development and financial soundness of the application.
- Evaluation Criteria – The Authority may further consider relevant factors such as empowerment and community benefits, the proposed Management Capability and Structure.