Summary
Date Posted: Friday, October 22, 2021 , Base Salary: Not Disclosed

JOB DETAILS:

Financial Services Consultant for SPARK Micro, Small and Medium Enterprise (MSME) Project
Location: Rwanda (Largely physical presence with some remote working)
Duration: 12 months
Start Date: 1st December 2021

Introduction
Micro, Small, and Medium Enterprises (MSMEs) remain a vital engine for the growth of the Rwandan economy. These enterprises drive growth and innovation and create job opportunities especially for the youth who make up about 46% of the current working-age population (Rwanda Labor Force Survey, 2020) in the country. The MSME’s growth is however constrained by factors such as poor management, lack of training, lack of access to finance, lack of business development services, information asymmetry, poor infrastructure among other factors. The negative effect of the Covid-19 disease has been felt most deeply by the MSME’s and therefore efforts to support their survival and building resilience is needed. This will help stem the negative economic systemic impact brought about by the pandemic.
SPARK in partnership with the Swiss Development Cooperation (SDC) is implementing a two-year MSME’s Economic Relaunch After Covid-19 Project in the Western Province of Rwanda.
Through the application of a Market System Development (MSD) approach SPARK aims at providing Covid-19 Recovery support to transformative MSME’s in the Western Province of Rwanda by addressing constraints in capacity building, access to finance, and building resilience. SPARK, therefore, seeks to implement a program that will unlock systemic constraints to the survival and growth of MSME’s while creating job opportunities for youth and women.

Objective of the Consultancy
SPARK will employ de-risking mechanisms while working with financiers to support the flow of financing to MSME’s. We therefore seek the services of individual consultant with expertise on structuring various financing instruments for MSME’s including working with banks and microfinance institutions.

Main Tasks and Responsibilities
The Financial Services Consultant will support engagement with stakeholders including relevant Government authorities and financiers to improve access to finance for both youth and women-led MSMEs in Western Province of Rwanda.

The responsibilities and tasks include, but are not limited to:
• Structuring innovative financing mechanisms for select MSME’s
• Developing SPARK Loan Guarantee Fund (LGF) policy and procedure document,
• Developing SPARK LGF contracts with Financial Partners, including agreeing on work plan
• Providing capacity building to Financial partners selected for MSME product development and Covid-19 crisis management,
• Developing at least three (3) new financial products tailored to financial needs of MSMEs
A total of 60 days spread over a period of 12 months will be allocated to these tasks. The contract may be extended based on the performance, need, and availability of budget.

Eligibility of the Consultant:
• The consultant must have practical experience in structuring, management, and monitoring of Loan Guarantee Funds (LGFs) related to MSME or Enterprise Development in Rwanda and the East Africa region.
• .Demonstrated experience in structuring alternative mechanisms for financing MSME’s will be a clear advantage.
• The consultant must demonstrate expertise in financial product development tailored to MSMEs
• d. Demonstrated experience in capacity building of banks and microfinance institutions. Reference to at least two relevant assignments will be required;
• The consultant must demonstrate an understanding of inclusive finance policy development within the East African Region.
• Practical experience working in the Rwandan financial sector.

Expected Deliverables
• .SPARK LGF policy and procedure document
• SPARK/MFI LGF contract developed, reviewed, and approved.
• Capacity Need Assessment report and Capacity Building Plan for selected financial institutions (in Word and Summary Presentation);
• At least three new financial products tailored to MSMEs developed with clear uptake and scale-up strategies.

Proposal Evaluation
The consultant should provide:
• A Technical Proposal in response to the Terms of Reference
• A Financial proposal in United States Dollars (USD) should be provided indicated:
• Daily professional fee (inclusive of tax)
• Reimbursable costs

Evaluation Criteria
The following criteria will be applied in selection:
Evaluation Score % Score
Technical Evaluation Score 70
Practical experience in LGF structuring, management, and monitoring 15
Demonstrated expertise in financial product development tailored to MSMEs 15
Practical experience in capacity building of banks and microfinance institutions 15
Experience in structuring alternative finance mechanisms for MSME’s 10
An understanding of inclusive finance policy in the East African Region 15
Financial Evaluation Score 30

Education Requirement: No Requirements

Job Experience: No Requirements

Work Hours: 8

{module 312}

Job application procedure

Quotations and Submission

Interested individuals should submit their proposals (both technical and financial) not later than Friday the 12th of November 2021 at 5:00 pm on e-mail addressed to rwanda@spark-online.org  with a clear Subject Line: Financial Services Consultant SPARK
All Jobs

QUICK ALERT SUBSCRIPTION

{module 317}