Financial services Market system assessment

FINANCIAL INSTITUTION SUPPORT CONSULTANT

Terms of Reference

Organization:

World Vision Somalia (SomReP)

Project:

SERECA: Financial institution support in Somalia/land

Donor Funded:

ANCP-DFAT

Position type:

Contract

Location:

Remote & in Somalia/Land

Estimated working days:

60 days

Estimated number of staff required to work on the project:

2-4

Reporting to:

Economic Development and Market system development advisor – SoMRep

Starting date (TBC):

Jan – June 2024

Background

The Somalia Resilience Programme (SomReP) is a consortium of seven international non-governmental organizations (INGO) and one Local NGO. SomReP works to enhance the resilience of chronically vulnerable households, communities and systems across Somalia.

The Somalia Resilience Program (SomReP) is an ambitious approach to tackle the challenge of recurrent droughts and the chronic vulnerability among pastoralists, agro-pastoralists, and peri-urban households in one of the poorest countries in the world. SomReP is being implemented through a consortium of 7 INGOs (ACF, ADRA, CARE, COOPI, DRC, Oxfam and WVI) and 1 Local NGO(Shaqodoon)

Through Somalia Enhanced Resilience through Inclusive Economic/Market Systems development and Climate Smart Approaches (SERECA) project, SomReP would like to engage a qualified and dynamic consultant to support capacity building to specific Financial institutions in Somalia/land including informal financial mechanisms

Objectives

Through desk review, online interviews and field-based process, the consultant will conduct an assessment to selected financial Instutions in Dollow and Elefyne to achieve the following specific objectives:

• Understand the capacity gaps which exists within the selected financial institution e.g. credit risk management, products deficiency, customer care etc
• Undertake desk research to understand financial landscape in Dollow and Elefyne
• Work with Financial instutions to develop women inclusive financial loan products, including a small market research on targeted recipients
• Prepare a capacity building plan for the selected financial institutions
• Capacity build on financial institutions operations and also train their staffs on the gaps identified including review and development of their policies where deem fit
• Support the launch process of the newly developed products
• Advise/give key recommendations to financial instutions to ensure sustainability and good use of revolving fund including opportunities which exist in the financial sector space
• Work with support of the Economic development and Market systems advisor on all the above

Activity Schedule

• Background review, planning and preparation – 2 days
• Desk research and inception report
• Financial institutions capacity assessment (including informal financing mechanisms), including developing tools for assessment – 10 days
• Product development process, including a rapid small market assessment – 10 days
• Planning and preparing for the product launch, including design of marketing materials – 5 days
• Development of a capacity building plans for financial institutions – 10 days
• Prepare manuals and tools for capacity building the MFI/banks, DBCs including staff training – 10 days
• Prepare and De-brief and analysis workshops/virtual – debrief workshop discussing key findings and recommendations – 3 days
• Draft report, report review and Final report – 10 days
• Capacity assessment report
• Products developed, including rapid market assessment report
• Capacity building plan, including tools, manuals developed
• Review and development of policies
• Submission of the final report to SoMRep

Duration of assignment

The expected timeline of the assignment is 60 days

Deliverables

• Inception report
• Capacity assessment report
• Loan products developed
• Developed/reviewed manuals, tools etc
• Draft and final assessment report
• All materials used for banks/MFI staff training

Consultant qualifications

This consultantt should have the following the following skills and qualifications

• Master’s or equivalent degree in Economics, Agri-economics, Agribusiness, Business Management, Marketing, Development Studies or other related fields.
• At least 7 years’ experience, knowledge and skills in Financial inclusion or market systems and enterprise development in the financial services sector.
• Experience (at least 5 years) in the financial services sector.
• Extensive knowledge on working in/with private sector and development organizations.
• Excellent communication skills in English.

Evaluation Criteria

The Selection of the firm will be made based on cumulative analysis (i.e., mandatory requirement and technical qualifications as follows:

Mandatory requirements

1. Provide a certified copy of business registration(company/organization)
2. Provide a certified copy of the tax registration

• References including names and contact information from previous clients who can be contacted regarding relevant experience in translation of documents (At least three)
• Successful bidder will be required to sign World Vision Supplier Code of Conduct form

Technical Evaluation

Applicants need to clearly articulate on the following, but not limited to: –

• A Consulting profile and cover letter outlining the suitability of the consultant in undertaking the assignment (Not exceeding two pages)
• Up to two-page statement of capability (referencing the selection criteria) and the approach to be take in undertaking this assignment
• Clear work plan including time frames for the financial services market assessment
• Detailed CVs of key personnel (including any formal qualifications) should be provided

Financial Evaluation

• A financial proposal with a detailed breakdown of costs quoted in USD. Applicable tax amount must be clearly stipulated and separated from the base costs.
• Payment Terms and credit Period

Financial proposal should not be part of the technical proposal; it should be a separate document.

A prospective bidder making an inquiry relating to the tender document may notify WVS in writing at [email protected]. WVS will only respond to requests for clarification received no later than 10th Jan 2024.

Submission of Proposals:

Interested individuals and firms should submit their proposal accompanied with a cover letter, in English by email to [email protected]on or before 17th Jan 2024.

Proposals should be submitted in three distinct/separate attachments, namely Mandatory Requirements, Technical Proposal and Financial Proposal (Bidders who will combine both technical and financial proposals shall be disqualified)

Email title should be; Financial services Market system assessment – SoMRep

Bids received after deadline shall not be considered.