TENDER NOTICE FOR CONSULTANCY SERVICES

Title of the Tender: Hiring an Individual Consultant to Conducting a Rapid  Mapping of Youth Financial Products, Challenges, and Opportunities in Rwanda.

Tender Reference Number: CRS-Rwanda 025-FY23-TN/2023

Procurement Method : OPEN TENDER

Date of Issue : July 26^th, 2023

Deadline for submission : August 9, 2023

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Terms of Reference for Hiring an Individual Consultant to Conducting a Rapid  Mapping of Youth Financial Products, Challenges, and Opportunities in Rwanda

1. Introduction 

The Ministry of Youth in partnership with Catholic Relief Services (CRS) and Access to Finance Rwanda (AFR) intends to conduct a rapid mapping of financial servicices/products targeting youth in Rwanda, with the aim to improve the understanding on how different stakeholders would improve the delivery of financial services. A brief description of partnerships in this assignment is provided below.

• About Ministry of Youth(MINIYOUTH) 

The Ministry of Youth in Rwanda is a government ministry dedicated to creating an enabling environment for youth socio-economic empowerment. It oversees a range of programs and projects that are instrumental in supporting the advancement of young people. One of its key components is the Directorate of Youth Empowerment, which actively monitors and evaluates the implementation of initiatives focused on youth socio-economic empowerment.Through its programs and projects, the Ministry of Youth aims to address the specific needs and aspirations of young people in Rwanda. These efforts encompass various areas, including education and skills development, employment and entrepreneurship, health and well-being, civic engagement, and social inclusion. The ministry collaborates with local and international organizations, as well as relevant stakeholders, to design and implement impactful initiatives. 

• About Catholic Relief Services (CRS) 

Catholic Relief Services is the official international humanitarian agency of the Catholic community in the United States. CRS works to save, protect, and transform lives in need in more than 100 countries, without regard to race, religion or nationality. CRS’ relief and development works are accomplished through programs of emergency response, HIV, health, agriculture, education, microfinance, and peacebuilding. The Country Program has over 80 staff and implements its projects through local and international partners, with strong coordination/collaboration with Government of Rwanda structures.Catholic Relief Services (CRS) has been working in Rwanda since 1961. CRS Rwanda’s key programing areas include youth empowerment, agriculture, early childhood development, economic strengthening, justice, and peace building. To achieve this, CRS collaborates with the government of Rwanda, donors, the Catholic church, private sector, and civil society organizations.

• About Access to Finance Rwanda (AFR) 

Access to Finance Rwanda (AFR) is a Rwandan not for profit company established in 2010 to promote financial inclusion and financial sector development. AFR is currently funded by Sweden, Jersey Overseas Aid, and the MasterCard Foundation.Access to Finance Rwanda is part of the broader Financial Sector Deepening (FSD) in Africa that seeks to create a transformative impact on the ending of poverty by supporting efforts to improve financial inclusion and financial sector development through helping financial institutions and markets drive a more inclusive and sustainable economic growth.AFR supports the removal of systemic barriers that hinder access to financial services by low-income people, particularly the rural poor, women, youth and MSMEs. AFR supports the development and provision of financial services including savings, credit, insurance, investment, payments, and remittances. AFR is guided by the Market System Development (MSD) approach recognizing that efforts to increase financial inclusion and financial sector development must be market-led, profitable and sustainable 

2. Brief Contextual Backgound 

The recognition of the importance of investing in young people is widely acknowledged as one of the strategies for fighiting against poverty. Indeed, this entails offering opportunities to youth to create income generating activities across sectors – helping them address the challenges they face as individuals and in establishing strong foundation for their future

Youth, more than any other category of the population face a number of access to finance related challenges, including: (i) lack of personal securities and guarantees limiting their credibility to secure loans, (ii) youth lack the knowledge of of debt financing, working capital management and the overall impact of financial management, (iii) financial institutions are very strict, conservative and tend to be very stringent in their approach to funding the Youth in their first venture, etc.

This implies that promoting financial inclusion of youth, there is a need to ensure that systematic challenges affecting youth financial inclusion are addressed. 

In order to develop interventions that effectively address the needs youth financial inclusion challenges in Rwanda, CRS in partnership with the Ministry of Youth and AFR, intends to conduct a rapid mapping of financial products and services targeting youth in Rwanda. 

3. Objective 

The primary objective of the study is fourfold. To begin, the study intends to identify and categorize the different  financial products and services currently available for  youth in Rwanda, especially those living in rural areas. Second, the study  seeks to assess the challenges and barriers that Rwandan rural youth  are facing in accessing the these financial products and services. This also entails documenting the main reasons why this situation prevails. Third, the study aims to identify opportunities for enhancing financial access and utilization among rural youth in Rwanda and propose concrete recommendations to key stakeholders, including financial institutions, policymakers, and development partners, on strategies to enhance youth financial access and utilization. Fourth, in close collaboration with CRS and AFR, produce an intervention design describing the broad intervention areas to be prioritized in potential projects – indicating the types of activities that would be expected to catalyze change (link to priority constraints), document any key assumptions to make the project a success, anticipated risks and propose mitigation strategies that might be considered. 

4. Scope of the work 

The rapid study will  explore and assess the following key areas : 

• Availability and Diversity of Financial Products: The study will map different financial products and services specifically designed for youth in Rwanda. This includes savings mechanisms , loans facilities, insurance, investment options, and other relevant financial instruments targeting youth, especially the rural youth. Extensive consultations with different Financial Services Providers (commercial banks and micro finance institutions, informal saving channels, etc).
• Accessibility and Affordability: The mapping will assess accessibility and affordability of the available financial products and services for youth. This includes analyzing factors such as account opening requirements, transaction costs, interest rates, loans requirements and fees that may affect the ability of young individuals to access and afford these services. The assessment will also investigate specific barriers faced by different catrgies of rural young, namely, male, female and persons with disabilities in accessing different types of financial services and products. 

• Financial Literacy and Education: The mapping will explore the level of financial literacy among youth in Rwanda,the availability of financial education programs as well as the extent to which these programs help address youth financial related skills gaps. It will assess the effectiveness of existing financial literacy initiatives and identify gaps in knowledge and awareness that may hinder youth's ability to make informed financial decisions. 

• Technology and Innovation: The study will examine the role of technology and innovation in facilitating youth financial inclusion. This includes assessing the usage of mobile banking, digital wallets, online platforms, and other technological solutions that provide convenient and efficient financial services to young individuals. 

• Policy and Regulatory Environment: The study will analyze the policy and regulatory framework governing youth financial inclusion in Rwanda. It will assess the adequacy of existing regulations and identify potential barriers or opportunities for policy reforms that can enhance youth access to financial services. 

• Socio-economic Context: The study will consider the socio-economic context in which rural youth operate, including factors such as income levels, employment opportunities, and socio-cultural norms that may influence their financial behavior and access to financial products.

5. Expected deliverables 

1. Inception Report:
   • Detailed methodology, including data collection tools and work plan and list of planned literature documents.
2. Draft Report:
   • Comprehensive analysis of youth financial products, challenges, and opportunities in Rwanda.
   • Overview of existing financial products and services targeting youth
   • Assessment of challenges their root causes faced by youth in accessing and use financial services
   • Identification of potential opportunities for improving youth financial servise accessing and use
   • Preliminary recommendations for stakeholders.
3. Stakeholder Workshop:
   • Presentation of the draft report to relevant stakeholders.
   • Facilitation of discussions and feedback gathering.
   • Incorporation of stakeholder inputs into the final report.
4. Final Report:
   • Comprehensive analysis of youth financial products, challenges, and opportunities in Rwanda.
   • Detailed recommendations for stakeholders, including financial institutions, policymakers, and development partners.
   • Clear implementation roadmap for improving youth financial services access and use.
   • PowerPoint or similar presentation slides summarizing the study's main findings and recommendations.
   • Annexes containing interview transcripts, survey results, and other relevant data

6. Deep-dive analysis areas

In addition to providing a national overview, the consultant will conduct a deep-dive analysis of the challenges and opportunities for young people to access formal financial services in the Nyamasheke and Rutsiro districts of the Western Province; Gicumbi and Burera of the Northern Province; Gisagara and Nyamagabe of the Southern Province and Ngoma and Kirehe of the Eastern Province.

7. Qualifications for the Consultancy and Required Experience:

Education and Experience 

• Holder of a Masters' degree holder in economic develoment, Economics, statistics,International Development Studies or enterpreuneship, agribusiness and agriculture economics or agribusiness .
• Demonstrate experience of at least 8 years of working experience in youth meaninstriming and financing.
• The consultant should possess a strong background and in-depth knowledge of financial inclusion, specifically related to youth empowerment and access to financial services. Familiarity with the challenges and best practices in promoting youth financial inclusion is essential.
• The consultant should have demonstrated research and analytical skills, including the ability to collect, analyze, and interpret data related to youth financial products and services. Proficiency in both qualitative and quantitative research methods.
• The consultant should have Knowledge of the Rwandan Financial Landscape: A thorough understanding of the financial sector in Rwanda, including the regulatory framework, financial institutions, and existing initiatives related to youth financial inclusion, is crucial.
• Experience engaging with stakeholders
• Experience in working with international NGOs and especially those working in the youth field will be an advantage
• Strong analytical and communication skills. 

Personal Skills

• Strong critical thinking and creative problem-solving skills
• Strong relationship management skills.
• Strong written and verbal communication skills with the ability to write reports
• Excellent written and spoken skills in English and Kinyarwanda 

8. Timeframe 

This assignment is expected to be conducted between August 20^th , 2023 and September 20^th , 2023. 

9. Rorting and working language 

The consultant(s) will report directly to the technical team that will be lead by Staff from CRS  and AFR. All reports/documents should be produced in English.    

Key contact for CRS Rwanda is:

• Alphonse Munyaneza, Youth Program Manager, CRS Rwanda,

         alphonse.munyaneza@crs.org

• John Rwirahira, Head of Research and Information, Access to Finance Rwanda, rwirahira@afr.rw

10. Evaluation criteria

11. Reporting and working language 

The firm will report directly to the CRS, AFR and MINIYOUTH designated technical TEAM (if need be). All reports/documents should be produced in English.     

12. Length of the bid document  

Interested bidders should submit a technical and financial proposal documents that does not exceed 10 pages maximum without annexes. 

13. Confidentiality

All documents and data will be treated as confidential and used solely to facilitate this assignment. 

14. Estimated budget

The estimated budget for this consultancu should not exceed Rwf20,000,000 including the taxes. 

15. Financial proposal submission form

16. Application process

Interested or individual consultants are encouraged to send their applications to rwandabids@crs.org  no later than August 9^th, 2023, at 10:00am Kigali time. The title of the email must include: “Rapid  Mapping of Youth Financial Products, Challenges, and Opportunities in Rwanda’’ and the application document should include the technical proposal and financial proposal in two documents in PDF format with. A late submission will not be considered.

Done at Kigali, July 25, 2023

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