Terms of Reference for the Recruitment of the Individual Consultant to Carry out an Impact Assessment to BDF Ltd at Business Development Fund(BDF Ltd) | Kigali :Deadline: 18-04-2024

Tender No: 014/IC/NCB/2023-2024/BDF 

Terms of Reference  for the recruitment of the Individual Consultant to carry  out an impact assessment to BDF Ltd 

I. Introduction

The Business Development Fund (BDF) Ltd was established in 2011 with the objective to support Micro, Small and Medium Enterprises (MSMEs) to access formal credit. Since 31 December 2014, BDF became a public limited company, with the Government of Rwanda (GoR) and Development Bank of Rwanda (BRD) owning 55% and 45% of shares, respectively. BDF provides financial products including credit guarantees, grants, SACCO refinancing, leasing, and quasi equity. To complement these financial products, BDF also offers business advisory services to MSMEs through trainings, business planning and post-finance advisory services.

BDF has just hit its 13 years in operation in support of MSMEs to start, grow and succeed through provision of the aforementioned financial and non-financial products. BDF has developed a new strategic plan spanning 2023-2027. This strategic plan is already in its early stages of implementation, and it is a rolling strategic plan which will be subject to review and readjustment every year. With clarity in its strategic orientation over the next five years, BDF will carry out mid-term and endline performance evaluation and impact assessment after 2.5 years and 5 years of strategy implementation. The current exercise will focus on assessing the impact that BDF has made to date since its inception. This exercise will involve reconstruction of the baseline data that will also be used as points of reference in the future assessments.

II. Objectives and Scope of Work

The main aim of the assignment is to analyze the contribution of BDF interventions in improving MSME access to finance and the impacts made on the social and economic well-being of the beneficiaries.

II.1. Objectives of the assignment

Objectives of the assignment are summarized:

• To reconstruct baseline data as of 2023 to serve as a reference for the next five years (2023-2027)
• To review the current M&E system and assist to develop a logical framework that will pose as an M&E tool to be used for monitoring and evaluation of BDF interventions in the next five years.
• To document with evidence the progress made by BDF in achieving the intended results.
• To assess the relevance, effectiveness, efficiency, impacts, and sustainability of the BDF interventions/programs.
• To provide recommendations to BDF on how to improve the effectiveness, efficiency, relevance and impact of various products/programs for more sustainability.
• To document challenges, best practices and lessons learnt in the implementation of various BDF products/programs and provide appropriate recommendations.
  
  
  

II.2. Scope of the assignment

Note that, BDF products and services are open to every Rwandan from any geographical location in Rwanda. Units of enquiry for this exercise will be selected from existing database of BDF clients and other stakeholders. The assessment will be conducted along all BDF products; namely, Guarantees, SACCO refinancing, agribusiness, leasing, grants, etc… More specifically, the scope of the assignment revolves around providing answers to the questions that would lead to achieving the assignment objectives. The following will be focused on:

• Gap analysis of key baseline data needed to serve for impact assessment.
• Review the effectiveness of M&E tools used and which improvements can be done to ensure that M&E function achieves its objective.
• Analyze how BDF can address the issue of access to finance and how well does the fund align with government development priorities.
• Review and Analyze to what extend BDF achieving the intended outcomes, in the short, medium and long term.
• Review and Analyze to what extent  BDF supported specific groups such as women, youth, former delinquents, people living with disabilities, veterans, etc… to improve their social and economic wellbeing through instituted programs.
• Review and Analyze to what extent  the outcomes of BDF interventions represent value for money; what is the relationship between inputs and outputs; are the resources employed optimally used to produce intended results.
• Review and Analyze to what extent  BDF interventions creating impacts for sustainability.
• Assess how BDF interventions created jobs, both direct and indirect since inception of it  interventions.
  
  
  

III. Profile and requirements

The Impact Assessment shall be conducted by an individual consultant who should have the following requirements;

a. Academic Qualifications and technical skills

• At least a Master’s degree in business administration, economics, or any other social science related field;
• Clear understanding of how guarantee funds/schemes operate and proven prior experience in carrying out similar assignments proven by certificates of successful completion.
• Understanding of Rwandan financial sector reform and access to finance issues.
• Excellent writing skills.
• Fluency in English required;
  
  
  

b. Experience

• Proven experience of at least 5 years in the field of consultancy.
• Practical experience in SME financing.
• Proof of at least 3 similar assignments.

c. Enabling Skills and capabilities

• Ability to work under tight deadlines;
• Excellent conceptual, analytical and writing skills;
• Working knowledge of English.

d. Expected outputs and deliverables for the assignment:

V. Methodology

The assessment methodology will include:

• Desk review: The assessment consultant will examine available data, case studies, product/program, policies, BDF strategy and reports, and any other relevant documentation.
• Case studies: The assessment Consultant will select from a pool of BDF beneficiaries, both direct and indirect as key reference cases to assess in depth the impact made as a result of BDF interventions.
• Field visits: The assessment Consultant will conduct field visits to ascertain whether what is documented is available.
• A survey of BDF clients will be held, key informant interviews and focus group discussions will be conducted.
• The indicators to be used in the assessment will be proposed in this methodology by the consultant and will be agreed upon in the inception meeting.
  
  
  

VI. Management arrangements:

• The assignment will be overseen by Business Development Fund Ltd  through the BDA Department (Project Manager) who will be in charge of approving reports as per the guidance from the Executive Management.
• However, the contract shall be signed with BDF Ltd Chief Budget Manager who will approve payments following the recommendation of satisfactory delivery.

VII. Duration of the assignment

• The assignment is planned to last for Two (2) months from the signing of the contract.

VIII. Criteria for technical evaluation are:

• The minimum technical score is 80%

IX. Submission requirements

Proposal submissions are to include the following:

1. Letter of Expression of Interest;
2. Relevant references (Certificate of good completion, Recommendation/To whom It May Concern) of services rendered, or any proof of past relevant experience.
3. Detailed Curriculum Vitae must be signed
4. Academic Qualification (required degrees, to be notarized)

The technical proposal shall not exceed 20 pages in length with the proposed approach and activities to be taken for the implementation and management of the assignment, including an operational work plan with timelines.

The Financial proposal with Breakdown of costs with man days (here the consultant may hire additional staff in order to perform the assignment, but that staff will not be mentioned in his/her technical and financial proposals)

Well-presented bids, properly bound in sealed envelopes and presented in 3 copies, one original and its copies, with the title reference and reference number of the tender you are bidding for, must reach the BDF Head Office/ Reception at the above mentioned address not later than 18/04/2024, at 3:00 pm local time.  Late bids will be rejected.

(Se)

Vincent MUNYESHYAKA

Chief Executive Officer

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