Financial Inclusion and Entrepreneurship Scaling Project (Малави - Тендер #45143379)

• Project ID

P168577

• Project Title

Financial Inclusion and Entrepreneurship Scaling Project

• Country

Malawi

• Notice No

OP00242720

• Notice Type

Request for Expression of Interest

• Notice Status

Published

• Borrower Bid Reference

MW-RBM-372414-CS-CQS

• Procurement Method

Consultant Qualification Selection

• Language of Notice

English

• Submission Deadline Date/Time

Aug 31, 2023 17:00

• Published Date

Aug 17, 2023

• CONTACT INFORMATION
• Organization/Department

Reserve Bank of Malawi

• Name

Ralph Tseka

• Address

P. O. Box 30063 Capital City Lilongwe 3

• City

• Province/State

Malawi

• Postal Code

• Country

Malawi

• Phone

+265999124949

• Email

rtseka@rbm.mw

• Website

RESERVE BANK OF MALAWI

REQUEST FOR EXPRESSIONS OF INTEREST

The Government of Malawi has received financing from the World Bank towards the cost of the Financial Inclusion and Entrepreneurship Scaling (FInES) Project. The Project aims at increasing access to financial services, promoting entrepreneurship and capabilities of Micro, Small and Medium Entrepreneurs (MSMEs) in Malawi including addressing Covid-19 implications. One of the activities under Component 3.2 of the FInES Project is Enhancing the Enabling Environment for Supporting the Financial Inclusion and Growth of Entrepreneurs, which seeks to bolster financial capabilities of Micro, Small and Medium Enterprises (MSMEs) and other key segments of the population through targeted financial literacy and capability initiatives.

Strengthening Financial Inclusion in the country has been one of the substantial developmental agenda for the Government of Malawi through key stakeholders. The Registrar of Financial Institutions (Registrar) has been one of the key stakeholders highly involved in the implementation of various financial capability and inclusion initiatives for years. However, results of financial inclusion surveys, such as the 2018 Financial Literacy and Consumer Protection Follow Up Survey, continue to reveal that very few Malawians use formal financial services and products.

The Follow Up Survey established that one of the factors that led to limited uptake and usage of financial services by the Malawian population is lack of financial literacy. Many Malawians lack knowledge, skills, trust and confidence in accessing and using formal financial services and products. Furthermore, financial consumers lack information on financial consumer protection and dispute resolution mechanisms available in Malawi. The Registrar, in collaboration with other stakeholders, have been implementing various targeted financial literacy initiatives in order to mitigate the aforementioned challenges. These include targeted financial literacy programs for Micro, Small and Medium Entrepreneurs (MSMEs), farmers, the youth, women, members of Village Savings and Loan Associations (VSLAs). Additionally, the Registrar and other relevant stakeholders have rolled out the implementation of targeted financial literacy awareness weeks such as insurance, credit, pension and investor education. Media awareness campaigns aimed at empowering and educating the public about various financial products and services; financial consumers’ rights and responsibilities when dealing with regulated financial institutions; also form part of the current national financial literacy program.

Notwithstanding all these initiatives, financial literacy levels for many Malawians, especially for the underserved segments of the population such as MSMEs, the youth, women, members of VSLAs, farmers, remain very low. Financial literacy outreach has not been as effective as planned due to, among other factors, the lack of enough human resource on the part of the Registrar.

It is against this background that the Registrar intends to apply part of the proceeds of the FInES Project to engage a firm to conduct financial literacy awareness and education programs for MSMEs and employees from both private and public institutions across the country. The ultimate objective is to promote financial inclusion and economic empowerment of the targeted audiences.

The consulting services (“the Services”) include the design, development and implementation of a financial literacy programme for the targeted MSMEs and employees in order to enhance their financial knowledge, skills, attitude and behavior which are needed to better manage their finances and plan for their future, given their unique socioeconomic and environmental conditions. It is expected that the consultancy would be undertaken within a period of 6 months and the expected start date of the assignment is October, 2023.

The detailed Terms of Reference (TOR) for the assignment can be obtained at the following link https://www.rbm.mw/MediaCenter/Adverts/

Financial Inclusion and Entrepreneurship Scaling (FInES) Project now invites eligible consulting firms (“Consultants”) to indicate their interest in providing the Services. Interested Consultants should provide information demonstrating that they have the required qualifications and relevant experience to perform the Services. The shortlisting criteria are:

• Core business of the firm(s) and years in business;
• Relevant similar experience, which should specifically include;
• At least 8 years of proven experience in the development and implementation of strategic financial literacy and capability outreach plans and campaigns or similar assignments;
• At least five similar assignments successfully completed in the last two years.
• Technical and Managerial capability of the firm (Provide only the structure of the organization, general qualifications, and number of key staff. Do not provide CV of the staff. Key Experts will not be evaluated at the shortlisting stage); and
• Experience in similar working environment i.e. Sub-Saharan Africa.

The attention of interested Consultants is drawn to Section III, paragraphs, 3.14, 3.16, and 3.17 of the World Bank’s “Procurement Regulations for IPF Borrowers” Dated November, 2020 (“Procurement Regulations”), setting forth the World Bank’s policy on conflict of interest.

Consultants may associate with other firms to enhance their qualifications, but should indicate clearly whether the association is in the form of a joint venture and/or a sub-consultancy. In the case of a joint venture, all the partners in the joint venture shall be jointly and severally liable for the entire contract, if selected.

A Consultant will be selected in accordance with the Consultant’s Qualification based Selection method set out in the Procurement Regulations.

Expressions of interest must be delivered in a written form to the address below (in person, or by mail, or by fax, or by e-mail) by 31 August, 2023

The Project Manager

FInES Project

Reserve Bank of Malawi
P. O. Box 30063

Capital City

Lilongwe 3
Phone: +265 (0) 1 770 600

E-Mail: finesproject@rbm.mw

copy wphiri@finesproject.mw and cchipeta@finesproject.mw

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Импорт - Экспорт по стране Малави