TA to a Deposit taking MFI in Sierra Leone (Албания - Тендер #57391769)

TA to a Deposit taking MFI in Sierra Leone Request for proposal

Reference: UNCDF-00134,2

Beneficiary countries: Sierra Leone

Registration level: Basic

Published on: 12-Sep-2024

Deadline on: 26-Sep-2024 16:27 (GMT -4.00)

The UN Capital Development Fund (UNCDF) is seeking proposals from qualified consulting firms to provide technical assistance (TA) to a deposit-taking Microfinance Institution (MFI) in Sierra Leone. The MFI has been in operation for 15 years and currently operates 32 branches, with 20,000 depositors and 70,000 borrowers, the majority of whom are women. This assignment will focus on strengthening the MFI’s risk management practices and supporting the digitization of its credit processes, particularly for individual cash flow lending.

The MFI has previously received technical assistance for financial and risk management. This new initiative builds on that support by operationalizing risk management recommendations and introducing digital innovations to enhance efficiency and service delivery.

Scope of Work Summary

The technical assistance for the Microfinance Institution (MFI) in Sierra Leone will focus on two key areas:

Risk Management Best Practices:

• Standardize procedures to improve cash management, eliminate data inconsistencies, and strengthen internal controls.
• Implement clear lines of authority, segregation of duties, and ensure compliance with laws and internal policies.
• Enhance the internal audit function, set risk parameters, and embed a risk management culture through regular assessments.
• Provide staff capacity-building on risk mitigation and management.

Digitization of Credit Processes:

• Develop a digital customer base and automate credit scoring and decision-making processes.
• Implement digital loan disbursements, administration, and repayment systems via mobile wallets and other electronic channels.
• Set up operational platforms for mobile data collection, optimize loan officer efficiency, and establish loan monitoring mechanisms.
• The assignment includes training and piloting to ensure effective implementation of these enhancements.

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