UNCDF: Seeking EOIs for Development of Financial Services Integrated with Financial Education for Women and Youth

Deadline: 2 October 2018

UNCDF is seeking expressions of interest (EOIs) for its program entitled “Development of Financial Services Integrated with Financial Education for Women and Youth”.


The purpose of this call for expressions of interest is to shortlist financial service providers (banks, financial institutions, Mobile Network Operators (MNO’s), FinTechs) committed, ready and able to provide integrated financial services and financial education to 9,000 youth participating in the Jobs, Skills, and Finance for Women and Youth programme in The Gambia. Particular attention will be given to FSPs who use new technologies (e.g. microfinance correspondents, remote banking and mobile banking) and are willing to partner with others to provide mobile financial services.

Funding Information

A final selection will be made based on final proposals: two to three partners can be selected and will receive UNCDF grant up to USD 400,000.

Project Implementation

Partners will be engaged for three main work flows:

  • Cash for work: The programme will support local authorities and communities to develop climate resilient investments that in turn can create temporary jobs through “cash for work” models. The selected partner will be responsible for ensuring that up to 9,000 youth engaged in the “cash for work” component of the program receive their monthly stipend in a savings account in a financial institution preferably through a digital financial solution. This savings account needs to be affordable and accessible for the youth and the women participating in the programme. The partner, will also need to put in place the necessary systems to ensure the youth receives their stipend on a timely manner.
  • Leveraging savings to access other services: The selected partner will also be expected to develop client-centric financial services (e.g. credit, remittances linked to economic opportunities etc.) for these youths (50% women) so that they can leverage the savings accumulated and the skills built during the programme to start up their own business. The activities will start in the Lower River Region followed by the Upper River Region, and North Bank. 1 A heavy focus will be made on the distribution of the services using cost effective and innovate strategies to reach a larger number of clients.

Expected Deliverables

  • Customer centric research report
  • A comprehensive business plan that clearly outlines the strategy and operational plan for the development and deployment of financial services including key milestones and indicators to be used to measure progress;
  • Prototypes of financial products to be deployed for the targeted beneficiaries
  • Financial Education Dissemination Plan
  • Quarterly reports (financial and narrative) detailing lessons learned and best practices of the provision of services for the 9,000 women and youth in the selected regions

Selection Criteria

  • Have legal authorization in The Gambia to carry out activities related to the granting of credit, the collection of deposits, the issuance of electronic money
  • Have more than 10,000 customers (Please specify the number as of June 2018)
  • Show a positive return on assets (Please specify the number as of June 2018)
  • Present a strong portfolio close to the standards of UNCDF (Portfolio At Risk 30 days – PAR30 less than 10%) (Please specify the number as of June 2018)
  • Present a satisfactory operational self-sufficiency ratio (OSS) (greater than 100%) (Please specify the number as of June 2018)
  • Have been active for at least two years;
  • Provide or promote demand-driven financial services (savings, credit, etc.);
  • Provide a service and / or product in mobile money, electronic money (or similar) or have planned in its strategic plan to launch such services or products within the next 12 months;
  • Have strategic positioning and recognized expertise in the financing of women, youth and/or MSMEs and provide financial products and services to these groups or plan to do so within the next 12 months;
  • Be present in the Project target regions or declare an interest in expanding their network particularly in LRR, URR, and North Bank;
  • Declare themselves ready, willing, and able to develop innovative solutions, while using new technologies available. The offer of digital financial services is strongly encouraged;
  • Have adequate financial, human and computer resources to carry out all planned activities.
  • Commit to monitoring and evaluating the results and be ready to share information and lessons learned with external stakeholders;
  • Have a well-functioning management information system (MIS), adequate and reliable access to the Internet and related technologies, to participate in online discussions and to produce learning resources.

How to Apply

Applicants can submit their applications via email at the address given on the website.

For more information, please visit UNCDF.