Call for Proposals in Digital Financial Inclusion for the Africa Digital Financial Inclusion Facility (ADFI)

Type: 
RFP
Posted: 
01 Aug 2019
Closing: 
16 Sep 2019
About the organization: 

The overarching objective of the African Development Bank (AfDB) Group is to spur sustainable economic development and social progress in its regional member countries (RMCs), thus contributing to poverty reduction. The Bank Group achieves this objective by:

  • Mobilizing and allocating resources for investment in RMCs.
  • Providing policy advice and technical assistance to support development efforts.
About the Job: 

The African Development Bank (“AfDB” or “the Bank”) in partnership with the Bill and Melinda Gates Foundation (BMGF), Agence Française de Développement (AfD) and the Government of Luxembourg (the Initial Donors) has established the Africa Digital Financial Inclusion Facility (ADFI). Structurally, ADFI comprises a multi-donor trust fund and debt funding from the Bank and has a projected ten-year (10) investment horizon. It was launched in June by the Bank at its annual meetings in Malabo, Equatorial Guinea. Through catalytic and strategic investments in digital financial services (DFS) throughout Africa, ADFI will seek to break down barriers to DFS growth and uptake in order to accelerate financial inclusion in general and reduce the gender gap in financial inclusion in particular. It is important to note that ADFI’s design was informed by a comprehensive continental study which established that catalytic digital financial inclusion interventions will have the potential to impact a total addressable market (TAM) of 332 million financially excluded adults on the continent, 60 percent of whom would be women.

Criteria for Funding:

  1. Public sector projects should strive to be consistent with national and/or regional priorities in order to maximize the likelihood of buy-in and support from the authorities.
  2. To the extent possible, projects should not duplicate other projects already underway through other vehicles unless a clear business case is established.
  3. Recipients and project sponsors should be Africa - based or provide evidence of partnership with African entities and show that the proposed activities, operations and projects will be implemented in Africa.
  4. While not an eligibility requirement, particular attention will be paid to potential projects which benefit two or more regional member countries and regions as this will strengthen regional integration and maximize the impact of ADFI resources. Due account will also be taken of the economic and social development plans of regional member countries.
  5. Potential beneficiaries from the private sector must be legally constituted institutions that have been in existence for at least three years and are profitably run.
  6. At the discretion of ADFI’s Governing Council and where necessary the Bank’s Board of Directors, consideration for funding may be given to new innovative solutions or specially established special purpose vehicles with a clear demonstration for scale and impact.

Eligibility:

Grants and loans may be extended to the following entities: Financial institutions (bank and non-bank), remittance and payment service providers, payment aggregators, mobile network operators, e-money issuers, FinTechs, regulatory bodies (including central banks, telecommunication regulators, consumer protection and competition authorities), government ministries, regional and sub-regional economic entities. Short-listing and selection shall be done in accordance with the Bank’s procurement rules and procedures. The Bank is under no obligation to shortlist any company, joint venture, consortium, public body or association.

How to Apply: 

Parties interested in responding to this call for proposals may direct any enquiries to the address: [email protected]. To learn more about ADFI’s funding features, please visit the Bank’s website.

To apply please fill out the annexed proposal template. Proposals must be submitted by e-mail to the following address: [email protected]. Kindly indicate your pillar of intervention in the email subject line (e.g., ‘ADFI Proposal Infrastructure Pillar’) and include the word “gender” in your title if the proposed project is gender-transformative (i.e., ‘ADFI Proposal_Gender_Capacity-building Pillar’).

All proposals must be submitted by Monday 16 September 2019 at 12 AM Abidjan time (GMT)