DEADLINE: 5TH MAY, 2025
AFRICAN DEVELOPMENT BANK (AfDB)
REQUEST FOR EXPRESSIONS OF INTEREST (REOI) FOR EXECUTING AGENCIES_FINANCIAL SERVICE PROVIDERS (EA-FSPs) & FINANCIAL ECOSYSTEM ANCILLARY SERVICE PROVIDERS (SPs)
| PROJECT NAME: | ADFI WSME Program: Enhanced Access to Finance Leveraging Data and Technology |
| COUNTRIES: | Cameroon, Egypt, Kenya, Nigeria, Mozambique |
| DURATION: | Thirty (36) Months |
| START DATE: | 01 September 2025 |
| DESCRIPTION: | Executing Agency/ies (EAs)/Financial Service Provider (FSPs) and/or Service Providers (SPs) _ADFI WSME Program country implementation |
| EAs will be established FSPs with the primary WSME relationships. Service Providers (SPs) will include institutions that provide ancillary support services for or form part of key value chains in, the financial and trade ecosystems. EA examples may include banks, mobile money providers while SP examples may include insurance firms, business/SME digital solution providers, WSME mentorship programs etc. EA may also double up as service providers. For scale, each country program may have more than one EA. | |
| Participating institutions will benefit from grant funded technical support delivered by industry experts to strengthen their WSME partnerships and financing options through design of a digital-led solution, as well as critical capacity building for their WSME clients. Participating FSPs will commit to support the initial scale phase of the program through additional financial resources to WSMEs. | |
| In FSP and SP selection, Priority will be given to Institutions/partnerships that have;(i) subscribed to the We-Fi finance code(ii) participated in We-Fi WSME affiliated projects(iii) established gender and WSME financing programs(iv) significant WSME client portfolio(v) ability to provide additional WSME funding for scaling the program(vi) strong value propositions both for the WSME financing and digital offering |
The African Development Bank “the Bank”, hereby invites Financial Service Providers (FSPs) and financial ecosystem ancillary service providers (SPs), in the target countries, to express their interest in participating in the following Assignment: Executing Agency/ies (EAs) and/or Service Providers (SP)_ ADFI WSME Program: Enhanced Access to Finance Leveraging Data and Technology _ (Country Name)
Achieving gender parity for development is a key objective of the Bank for which enhanced access to finance and technical support for upskilling women led businesses is paramount. In addition to its internal efforts to drive this critical agenda through the gender department and aligned thematic funds, the Bank works in collaboration with external partners to ensure a singleness of purpose for maximum impact.
The Bank has received Technical Assistance funding from the Women Entrepreneurship Finance Initiative, We-Fi, to implement the ADFI WSME Program “Enhanced Access to Finance Leveraging Data and Technology” in five target countries namely; Cameroon, Egypt, Kenya, Nigeria and Mozambique. The program aims to leverage technology and data, tools that have transformed and accelerated inclusion in Africa, to support women businesses build resilience and improve overall efficiency, as well as work with financial service providers and the broader financial ecosystem to design responsive solutions.
The Bank’s Financial and Intermediation Inclusion Division (PIFD1) through the Africa Digital Financial Inclusion Facility (ADFI) team will lead the programs implementation, working closely with the Bank’s gender team and contracted Implementing Agencies that will provide technical assistance for country programs.
For maximum impact and sustainability, the Bank is seeking to leverage the technical assistance funding from We-Fi, to mobilise additional financial resources for women led businesses, from participating FSPs. The technical assistance funding will support ;
(i) Stakeholder engagement, partnership building and country implementation planning
(ii) Human centric development of WSME financial products and services followed by testing, training and piloting
(iii) Capacity Building for WSMEs on technology adoption for business efficiency, growth and resilience; WSME financing solutions, governance best practice
(iv) Go to market planning to support FSPs in dissemination and product uptake and scale
You can learn more about the Banks gender work, We-Fi and ADFI at these links: We-Fi Finance Code | We- Fi Program | AfDB 2021 – 2025 Gender Strategy | Africa Digital Financial Inclusion Facility (ADFI).
The WSME definition under this program is outlined below:
(i) > 51% owned by a woman/women
(ii)> 20% owned by a woman/women; and have > 1 woman as CEO/COO (President/Vice President) and have > 30% of the Board of Directors comprised of women where a Board exists.
(iii) Financing between USD 5,000 and USD 1 million
(iv) Between 5 and 300 employees
(v) Sales between USD 50,000 and USD 15 million
EXPECTATION & INCENTIVE
The program globally aims to provide WSME digital financial services capacity building to at least 12,000 WSMEs and provide digital solutions and credit to at least 8,000 WSMEs in the pilot and scale phase.
The program targets to leverage the We-Fi technical assistance funding to mobilise WSME credit funding of at least USD one hundred and five (USD 105,000,000) million across the five participating countries or an average of USD twenty one (21) million per country.
The global technical assistance funding will be apportioned per country based on the strength of the country proposals, qualifying WSME portfolio, established gender programs including those affiliated with We-Fi, resource mobilisation availability and level of readiness.
Interested FSPs and SPs are invited to submit their expressions of interest detailing;
(i) Their existing gender strategy and segmentation
(ii) The number and value of their WSME portfolio
(iii) Existing WSME product offerings
(iv) Existing digital offering relevant for WSMEs and the program
(v) Ability and commitment to provide WSME funding for the scale phase of the program (compulsory for those expressing interest to be Executing Agencies)
(vi) Their proposed approach to meet the program objectives
(vii) Mention of participation or affiliation to gender programs including the We-Fi Finance Code and affiliate programs
The program will be implemented simultaneously in the 5 target countries on an accelerated basis and will run for a maximum of thirty six (36) months from inception to closure. The target countries are Cameroon, Egypt, Kenya, Nigeria and Mozambique.
PROGRAM COMPONENTS
A summary of the program components per country, are briefly described in the table below;
COMPONENT DESCRIPTION Component 1 Ecosystem Review and Stakeholder IdentificationThe Bank team working with recruited Implementing Agencies will help identify EAs and SPs to participate in the program design and implementation Component 2 Partnerships Development and Country Level Program DesignFurther to ecosystem review and participant identification, based on need, partnerships will be developed to facilitate effective program implementation and country level program design Component 3 Research and human-centered design (HCD) product development and PilotUndertake HCD research on WSMEs, and engagement with providers, to inform the design of responsive financial solutions that help mitigate risk, drive business growth and enhance efficiency. This phase will culminate in a pilot run with a select number of WSMEs Component 4 Go to Market and Pilot ScaleIA working with the EA and program partners to develop go to market plans to disseminate and drive product and service uptake of the scale phase Component 5 Capacity building for WSMEs, and other stakeholders on leverage of data and technology for improved business performance and access to finance, as well as on responsive digital products and business best practice Component 6 Project Management. EA and SPs will assign project leads with that of the EA providing overall project manager role. The EA will work directly with the Implementing Agency recruited and the SPs. The Implementing Agency will be responsible for onsite project management to ensure technical and operational delivery of the program are functions of the project management component. Component 7 Knowledge Management (KM), Audit and Project Closure: Knowledge management will happen at all technical components and will culminate in a final KM outcome. The communications, advocacy and KM are integral program activities and will be agreed at the program planning stage. The IA in liaision with the EA and program partners will lead this component of the TA. As project manager, in liaison with the EA, they will support the closure phase of the program.
IMPLEMENTATION AND REPORTING ARRANGEMENT
As the primary WSME client-owner, the EA is responsible for program delivery. The Implementing Agency will be the Bank’s primary contact with Executing Agency, other program partners and participating WSMEs, working closely with the assigned in-country Bank teams and a recruited program lead who will serve as the focal point. The program lead will provide direct oversight for the Bank/ADFI team and will actively engage with in-country Bank teams assigned to the program, the IA, EA and program service providers and participants, as and when required.
The EA will establish a project implementation unit with representation across technical and operational functions as well as from other service providers. An EA project Lead will be nominated to work in liaision with the Bank PL and assigned task manager.
FSPs and SPs are welcome to submit joint proposals for which the FSPs will be the EA/EAs and lead partner/s. For joint submissions the EA will submit the application and provide details of their proposed partners, any memorandums of understanding as well as quantifying the role each partner will play.
Whereas EAs may partner with other FSPs and SPs they will remain responsible for full delivery of their scope of work. Evidence of MOU’s and partnership agreements will be required prior to contracting, with the Bank’s No Objection a pre-requisite for any proposed changes. Applying FSPs should provide high level details of proposed/ potential partnerships at the REOI submission stage and their expected role.
Eligibility criteria establishment of the short-list and the selection procedure shall be in accordance with the African Development Bank’s “Rules and Procedures for the use of Consulting firms.”
The estimated duration of the program implementation is for a maximum thirty six (36) months. Based on the terms of participation specified in the proposals selected and refined, the EAs and SPs will be contracted in line with the agreed scope of work.
The target date for commencement of the program is 1st September 2025.
Expressions of interest must be delivered to the e-mail address below by 15.00 hours Abidjan Local time on 05 May 2025, and with the title and/or mention “Expression of Interest Executing Agencies Financial Service Providers (EAs-FSPs) – Ancillary Service Providers (SPs) ADFI WSME Program – Finance & Technology Country name”.
The Expression of interest must be delivered (via pdf electronic copy) to the address below for the attention of: ADFI Team
Email Address: ADFI WSME EA SP@AFDB.ORG
ESTABLISHMENT OF FSP and SP PARTICIPANT SHORT LIST
A shortlist of three to six FSPs and SPs, per country, will be established at the end of the REOI to proceed to request for proposal stage. The shortlist will be judged on the following criteria:
Criteria Weights FSP qualifying WSME Portfolio 30% FSPs and SPs internal and affiliated WSME and gender programs 15% Strength of the Overall Value Proposition (Products and Services) 15% Ability to support the scale phase 30% Level of readiness 10% Total 100 %
Note: Due to anticipated volume of submissions, the Bank will only provide comprehensive responses to shortlisted applicants
