Rwanda

Consultant: Diagnostic Study on the FDPs and their Host Communities and Implementation of Digital Financial Literacy Programs in Rwanda

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1. Alliance for Financial Inclusion and the National Bank of Rwanda Background:

The Alliance for Financial Inclusion (AFI) is a unique international network of central banks, ministries of finance and economy, and other regulatory bodies which hold the mandate to develop and implement financial inclusion policies. Our aim is to do so through our mission of empowering financial regulators and policymakers to increase access and usage to quality financial services for the most underserved and unserved populations.

The Alliance for Financial inclusion is submitting this request for proposal on behalf of its principal member institution, the National Bank of Rwanda. The National Bank of Rwanda (BNR) is the Central Bank of Rwanda. It is a major stakeholder in the National development and economic growth programs with a consistent vision of becoming a World Class Central Bank. The bank directly or indirectly supports the National strategies of embracing diversity, innovation, inclusiveness and economic integration through ensuring price stability and a sound financial system.

2. Overall Objective:

The overall goal of the assignment is to support the implementation of the National Financial Inclusion Strategy 2019 – 2024 which has an objective of increasing the level of formal financial inclusion amongst adults in Rwanda from 77 per cent in 2020 to 90 per cent in 2024. This is by
Component 1: Conducting a diagnostic study on the level of financial inclusion of forcibly displaced persons (FDPs) and
Component 2: Implementing digital financial literacy program for FDPs.

3. Project Components

COMPONENT 1: Diagnostic study on the level of financial inclusion of forcibly displaced persons (FDPs):
3.1.1. Rationale
Though the financial inclusion in Rwanda is impressive at 93 percent (both formal and informal inclusion) and 77 percent formal inclusion, there is no official study conducted to determine the current level of financial inclusion of FDPs in Rwanda. Thus, there is a need to conduct a diagnostic study to provide a baseline according to which evidenced-based financial inclusion policy and programs can be developed.

The BNR and Alliance for Financial Inclusion (AFI) are seeking a reputable and experienced consulting firm to conduct a diagnostic study on the level of financial inclusion for FDPs and their host communities in Gihembe, Kigeme, Kiziba, Mahama, Mugombwa and Nyabiheke refugee camps within a period of three months. The purpose is to develop and publish a report on the level of financial inclusion of FDPs and their host communities by building on existing initiatives, identifying barriers and gaps, and suggesting policy recommendations to the BNR. The diagnostic study will promote coordination and bring together key stakeholders to discuss the existing initiatives for and barriers to the financial inclusion of FDPs, hence leading to a well-compiled and informed report.

There are four main activities:
i. Conduct stakeholders’ consultation meetings and/or workshops to map and gather ideas on financial inclusion barriers and gaps for FDPs as well as existing initiatives.
ii. Prepare and deploy demand- and supply-side survey questionnaires on the level of financial inclusion of FDPs and host communities in all six refugee camps in Rwanda. These would include digital financial literacy indicators.
iii. Undertake a policy and regulatory review on the financial inclusion of FDPs in Rwanda.
iv. Develop a diagnostic study based on the data from the demand- and supply-side surveys and the policy and regulatory review to establish the level of financial inclusion of FDPs and submit it to the BNR for approval (the report will indicate the level of financial inclusion of FDPs and their host communities, the barriers and gaps they face, and policy recommendations to address these challenges.

3.1.2. Scope of Work
The consulting firm is expected to produce a diagnostic study on the financial inclusion level of FDPs and their host communities in the six refugee camps in Rwanda. Host communities to be considered will be Rwandan citizens in which the camps are established at cell level.

The following sets out the scope of work and specific deliverables under this brief:
• Inception meeting: preliminary consultations with the BNR team to agree on the scope of work, deliverables, partners (e.g. MINEMA, UNHCR), support needed, reporting process, and related timelines.
• Consultation meetings and/or workshops with stakeholders: Engage and consult stakeholders to map and gather ideas on financial inclusion gaps and challenges for FDPs as well as existing initiatives.
• Demand- and supply-side survey questionnaires: The questionnaires should be designed in the way that it facilitates establishing the level of financial inclusion for FDPs and host communities. Indicators such as gender, age, financial services knowledge, digital financial literacy, having an account in formal financial institutions (banks, MFIs, SACCOs, MNOs, NDFIs), frequency of using an account, having a loan in formal financial institution, having an insurance policy, having a pension policy, having investments, savings and borrowing behaviors and some financial health indicators. The questionnaire should comprise of full identification of the person including Refugee ID if any, Refugee camp, etc.

The questionnaire to be approved by the BNR.
• Methodology for the deployment of the survey questionnaires particularly in consideration of public health measures for COVID-19.
• Deployment of demand- and supply-side survey questionnaires on the level of financial inclusion of FDPs and host communities in all six refugee camps in Rwanda.
• Policy and regulatory review on the financial inclusion of FDPs in Rwanda.
• Consultation meetings and/or workshops with stakeholders to present initial results and gather feedback.
• Diagnostic study based on the data from the demand- and supply-side surveys and the policy and regulatory review to establish the level of financial inclusion of FDPs and submit it to the BNR for approval (the report will indicate the level of financial inclusion of FDPs and their host communities, the gaps and challenges they face, and policy recommendations to address these challenges.

3.1.3. Timelines

This assignment is expected to be undertaken and completed between April and September 2021.

During the assignment, the BNR team will closely oversee, guide and support the consulting firm by sharing internal expertise; linking them with key stakeholders; assisting in arranging the consulting firm’s communications; and providing inputs to deliverables. This assignment is expected to involve extensive data analysis and interaction with key stakeholders.

COMPONENT 2: Digital financial literacy program for FDPs
3.2.1. Rationale
Though the financial inclusion in Rwanda is impressive, there are still low levels of financial literacy among people in Rwandan particularly refugees as more and more financial services and products become digitized. It has become difficult for refugees to have basic knowledge and skills to access and benefit from these products. Therefore, there is a need to increase the financial skills and capability of refugees and underserved groups (women, youth, persons with disabilities, and etc.) especially regarding digital financial literacy to help them become part of the formal financial system and ultimately contribute to their self-reliance. The provision of financial education, as a complement to other existing financial inclusion initiatives adopted by government or by other financial inclusion stakeholders is pertinent.

BNR and AFI are seeking a reputable and experienced consulting firm to design and execute a digital financial literacy program for FDPs and their host communities in three refugee camps in Rwanda within a period of one year (three DFL campaigns). The purpose is to raise awareness of the digital tools, products, and services available to access finance and credit, and to promote responsible financial behavior on borrowing while addressing some of the most common issues that consumers, especially underserved populations have regarding their personal and business finances. The three refugee camps will be selected based on a prioritization process from data and policy recommendations presented by the diagnostic study of the six camps.

There are four main activities:
i. Develop financial literacy program and roll-out plan indicating key digital themes: digital financial products and services in Rwanda, digital borrowing, saving and transfer channels, Consumer protection in digital era, this will be developed in the context of Rwanda.
ii. Package each theme in accordance with the roll-out plan, including production of materials (good written documents, videos etc.) to be used during awareness campaigns and shared on social media platforms if necessary.
iii. Support the BNR in organizing, facilitating and implementing three digital literacy awareness campaigns in the identified refugee camps. This involves content design and packaging to ensure participants have a strong understanding of the themes and topics.
iv. Produce an end of project evaluation report and submit it to the BNR for approval (The report will indicate the impact assessment, gaps identified and policy recommendations etc).

3.2.2. Scope of work
The consulting firm is expected to produce a final report of the digital financial literacy framework articulating implemented activities, impact of the program and policy recommendations for digital financial services adoption in Rwanda.

The following sets out the scope of work and expected deliverable under this brief:
• Inception meeting: preliminary consultations with the BNR team to agree on the scope, expected deliverables, support, reporting and related timelines.
• Designing digital financial literacy program and roll-out plan: Identifying topics and themes that are considered relevant to the audience. Produce quality content (written and video) that can be used in future.
• Facilitate in conducting digital literacy awareness campaigns: Design appropriate content in plain language that can be easily understood by audience.
• Prepare an impact assessment report.
• Prepare a final project report: The consultant will prepare a final report and will get inputs from the BNR, AFI, and selected key stakeholders. The final report will be approved by BNR.

3.2.3 Timelines

This assignment is expected to be undertaken and completed between April 2021 and January 2022.

During the assignment, the BNR team will closely oversee, guide and support the consulting firm by sharing internal expertise; linking them with key stakeholders; assisting in arranging the consulting firm’s communications; and providing inputs to deliverables. This assignment is expected to involve extensive data analysis and interaction with key stakeholders.

4. Travel:

For consulting firms domiciled in Rwanda, local travel is expected particularly for data collection for the survey, in compliance with health and safety measures in Rwanda.

5. Consultant Experience:

• The team leader should have at least 7+ years of relevant experience and hold a master degree in a relevant field.
• The consulting firm should have a proven record in conducting data collection, research and analysis relating to financial sector development or financial inclusion.
• The consulting firm should have an inter-disciplinary team of experts that include experts in financial inclusion, statistics, policy and regulation, business, technology including mobile platform innovation, forced displacement and FDPs, and communications, with working knowledge of financial institutions and Fintechs.
• The consulting firm should have good knowledge of existing financial innovations globally and particularly in Rwanda.
• The consulting firm must have a good understanding of Rwandan financial sector (banking, MFIs, MNOs, SACCOs, Fintechs, and etc.) existing products and Rwanda’s financial inclusion journey.
• To have done similar exercise for similar group(s) of people and institutions could be an added advantage.
• Excellent written and presentation skills in the English and local language.
• Ability to communicate and interact with local people including rural people and FDPs.
• Ability to maintain and keep confidential information within scope of the assignment
• Ability to complete assignments within deadlines.

6. Reporting:

Throughout the contract period, the consultant will be reporting to the Project Lead from the BNR supported by the Technical Lead from AFI supporting this deliverable.

7. Evaluation Criteria:

Proposals will be evaluated following based on the following criteria:

  1. Academic qualification and experience of the firm in related assignments; 20%

  2. Experience and competence of the key staff for the assignment related; 35%
    • Adequacy for the assignment- 20%
    • Regional/global experience - 15%

  3. Adequacy of the proposed work plan and methodology in responding to the Terms of Reference; 30%
    • Technical approach and methodology - 15%
    • Workplan - 15%

  4. Sample work – Written and oral experience in English; 15%

How to apply

Interested applicants are expected to submit a proposal with updated CV and using template given (Download the RFP document here) by email to AFI’s Procurement & Contracts Office at rfp2123@afi-global.org by 26th May 2021.

The final decision on selection of a consultant/consulting firm for this project rests with AFI management team and with the Inquiry. Only shortlisted and successful consultants will be contacted