Request For Proposals For Consultancy Services To Develop A Business Report For Rwanda Finance Ltd
Title Of Assignment: “Operating within Kigali International Financial Centre Report, A Comprehensive Guide Report”, Consultancy services to develop a business report for Rwanda Finance Ltd.
Brief Description Of The Assignment
Rwanda Finance Ltd seeks to commission a business report covering the ease of operations within the Kigali International Financial Centre (KIFC). This report will highlight Rwanda’s business environment including the banking sector landscape, financial intermediaries, financial regulators’ licensing process (diversity/depth), company registration, immigration, operation costs, other relevant service providers, economic substance, and taxation among others. This report will serve to inform international and local investors with all facets of operating within the new KIFC. The report will also provide a high-level benchmark with other 2 regional centers (Kenya and Uganda) of references thereby providing Rwanda Finance Ltd with the fresh business insights it needs to stay competitive and equipping investors, their legal and tax advisors with the competitive advantages of using the KIFC. RFL is looking for proposals from qualified international consulting firms for this business report.
Department issuing the request: Business Development Department
Place of assignment: Kigali-Rwanda
Duration of the assignment: 2-3 months (Year 2023)
Deadline for applications: 04th February 2023
Applications to be submitted to: procurement@rfl.rw
Contact number: +250788534810

About Rfl
Rwanda Finance Limited (RFL) is a company promoting and developing Rwanda as a leading financial destination for international investment and cross-border transactions in Africa.
Rwanda Finance Limited works with key stakeholders to develop and promote Kigali International Financial Centre through investment promotion, policy advocacy and sector upskilling. It also works to establish the regulatory framework for Kigali International Financial Centre to become a leading international financial centre.

Our Mission
To be the catalyst of a safe, compliant, and probusiness financial environment in Rwanda.

Our Vision
To become a preferred financial center for international investment in Africa.

Background
Rwanda aims to become a knowledge-based and a high-income country by 2050. To reach these goals, the country’s leadership has identified several pathways, including creating and positioning Rwanda as a leading international finance centre – termed “Kigali International Finance Centre” (KIFC).
To foster and promote a conducive probusiness financial environment in Rwanda, Rwanda Finance Ltd advocates for the highest regulatory standards, industry best practices, and the most attractive products and services to suit the needs of global investors and financial institutions.
Rwanda Finance Ltd does this through: (1) establishing fundamental legal/regulatory frameworks and tax incentives for the financial sector; (2) facilitating skills and capacity building reforms for the financial sector thereby enhancing sector outreach, performance and profitability; (3) marketing, promoting and positioning Rwanda as a leading investment destination; and (4) research and policy advocacy that informs local and international financial actors on emerging trends and investment opportunities in priority industries including but not limited to; fund and trust services, wealth management, capital markets, and fintech.

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Assignment Description:
The consulting firm’s main objectives will be to support Rwanda Finance to research, develop, and implement a technical guide to operate within KIFC. The consultant will use innovative and informed solutions and tools to meet the objective.
The consulting firm, “The Firm”, will work closely with the Business Development Department to gather factual information, statistical data, research findings, or any other form of information relevant to the course of the job. The consulting firm will present this information in a concise, recognizable, and appealing way to a wide array of financial stakeholders including public and private institutions in Rwanda, international financial institutions, International legal & tax experts, regional and international Investors.

Scope Of Work:
The services to be provided under the assignment include but are not limited to:
1. Business report: The Firm will provide Rwanda Finance Ltd with a comprehensive description of the topic, disseminating key qualitative and quantitative information for Rwanda and the other regional jurisdictions with respect to the subject of interest. The report will cover but will not be limited to: landscape, comparative analysis and trend analysis in line with international best practices to position Rwanda’s Financial Centre in regards to the research topic.
2. Content production and publication: The Firm will also lead efforts for the content production and/or update of the technical business reports and will ensure their quality. The Firm is expected to provide research, editorial, and creative direction for the Rwanda Finance Ltd business report; highlighting the policy reforms implemented to launch KIFC initiative and the way it is translating to ease of operation in Rwanda financial sector, as well as innovative ways to publish and disseminate the publications.
3. Stakeholder engagement: The Firm will develop research that aligns with KIFC priorities and will work with the Business Development Department to ensure the establishment of a relevant, timely, and coherent business report. This will involve stakeholder consultation and validation of the business report as defined by Rwanda Finance Ltd to ensure accuracy and applicability.
The report will be issued publicly for informational purposes. Therefore, it is important that the report is produced in plain language where possible and that conclusions are put in context, contain clear and relevant information ensuring they can be understood and related to by individuals and actors who may not work within financial services.

Approach
This consultancy will be conducted by the selected consulting firm to develop a business report over a period of three (3) months starting March 15th, 2023. . Rwanda Finance requires confirmation the firm will be able to produce this paper over the three (3) month period.
Proposals to be submitted must include the Technical Proposal and Cost Proposal and must be prepared as separate files for independent evaluation.
As such, Rwanda Finance Ltd invites eligible firms to provide detailed technical & financial proposals for implementing this assignment. These proposals must be prepared as separate files for independent evaluation and should showcase the firm’s professional capability in performing the services requested. Such information should include: work samples of similar assignments completed for promotional agencies or corporate clients, during the past five (5) years, experience of the firm, availability of appropriate qualifications and skills among the team, expected duration and profiles of the available team in carrying out this Assignment.

Technical Proposal
The Technical Proposal shall provide the following information:
1. Company Profile: A brief description of the company including its’ expertise and an outline of recent experience on assignments of a similar nature completed in the last three (3) years, including name of client and contacts.
2. Technical Approach: Consulting firms should detail their approach/methodology to fulfill the scope of work. The approach must clearly indicate how the proposed activities ensure that the research is conducted effectively and in line with stakeholder expectations. Make it clear what underlying data you consider essential and critical for the project to be completed. Rwanda Finance Ltd is happy to discuss and share already available information to manage expectations and will facilitate access to key local stakeholders upon request.
3. Team:
a. Consulting firms must include details of all personnel who will be assigned to the activities described in the scope of work, the specific technical value contributed by each member of the team as well as a clear management plan in narrative form for the development, review, and submission of all associated deliverables, including a milestone schedule.
b. CVs recently signed by the proposed team and the authorized representative submitting the proposal. Key information should include experience and level of responsibility held in various assignments during the last 3 years.

Financial Proposal
The Financial Proposal shall provide the following information:
• Consulting firms should provide a cost proposal providing itemized fees and level of effort for the team to complete the proposed activities under the scope of work defined above.

Reporting Line:
• The Consulting firm will report to the Chief Investment Officer of Rwanda Finance Limited.

Qualifications:
The assignment will be undertaken by a Firm that meets the following criteria:
1. Proven experience in writing technical business reports, with not less than 3 years’ experience working with corporate entities operating in Africa or investors and international organizations in Africa.
2. Proven capability and experience in building leading and forward-thinking report.
3. Proven experience in international finance and/or developing report around international financial services.
4. Strong work experience, knowledge and understanding of international financial centers.
5. Strong relationships with reputable international industry networks.
6. Excellent knowledge and understanding of global, regional, and local financial industry trends.
7. Excellent editorial and communication skills; fluency in English and French, keen on results-based management.
8. Working experience and knowledge of Rwanda and its economic development agenda is an added advantage.

Administrative Documents To Be Submitted:
- Letter of Interest addressed to the CEO, Rwanda Finance Ltd.
- Valid Tax Clearance Certificate (for local / regional bidders only).
- Notified copy of Certificate of Incorporation.
- Notified Power of Attorney, if the person signing is different from the one on the certificate of incorporation.
- Proof of solvency (for international bidders only).
- Notified copy of certificate of membership to a professional body, if any.

Proposal Evaluation:
The following criteria will be used for the evaluation of the bids:
Qualifications relevant to the assignment. 25%
Experience with the development and publication of industry report, memo or research/white papers as shown in work samples and understanding of TOR. 35%
Experience with development of memo or research publication/ white papers for international financial centers or investors. 25%
Language proficiency (English). 5%
Knowledge of the Rwanda and its economic development agenda. 10%

Consulting Firm’s Agreement With Terms And Conditions
The completion of all RFP requirements must be in accordance with the instructions contained in this RFP. Submission to RFL of the technical and cost proposals will constitute an offer and indicates the consulting firm’s agreement to the terms and conditions set forth in this RFP. RFL is not required to accept and/or evaluate proposals that do not conform to the instructions of this RFP and, in addition, RFL may reject all proposals and not make an award. RFL reserves the right to make an award without discussion and/or negotiation; however, RFL also reserves the right to conduct discussions and/or negotiations, which among other things may require the consulting firm to revise its proposal (technical and/or cost). By submitting an offer, consulting firms agree to comply with the general terms and conditions for an award, including Representations and Certifications compliance. Consulting firms must provide full, accurate, and complete information in response to this solicitation. By submitting an offer, consulting firms certify that they have not and will not attempt to bribe or make any payment to RFL employees in return for preference.
Issuance of this RFP in no way obligates RFL to render an award, nor does it commit RFL to pay any costs incurred by the consulting firm to prepare and submit a proposal. RFL reserves the right to award a contract to one organization or to issue multiple awards based on the results of our evaluation.