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WIZZIT Micro Credit for Mobile Banking Program

Request For Expressions of Interest

Versions
Edition 3:   Nov 20, 2009 (shown)
Edition 2:   Nov 20, 2009
Edition 1:   Nov 20, 2009

General Information
Country:   South Africa
Notice/Contract Number:   10-0565
Publication Date:   Nov 20, 2009
Deadline:   Nov 28, 2009
Funding Agency:   World Bank
Buyer:   World Bank Trust Funds
Original Language:   English

Contact Information
Address:   John Ngahu
IFC - Country Office
1224 Avenida Kenneth Kaunda
Maputo
Mozambique
Telephone:   (258-21) 482 366
Email:   Click here
Web Site:   www.worldbank.org/corporateprocurement

Assignments

 

Original Text

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Consultant - WIZZIT Micro Credit for Mobile Banking Program

Request for Expressions of Interest

A. Objectives/Purpose of Assignment

The International Finance Corporation (IFC), a member of the World Bank Group, is a global investor and advisor committed to promoting economically beneficial, financially and commercially sound, and environmentally and socially sustainable investment in developing countries. IFC's mission is to promote sustainable private sector investment, helping to reduce poverty and improve people's lives. IFC’s Advisory Services team in Africa designs and delivers advisory services and technical assistance programs throughout Sub-Saharan Africa to promote private sector development.

The ICT linkages Program works with IFC's information and communications technology (ICT) clients to provide improved access to ICT services for underserved populations, and to provide capacity building support to SMEs in their distribution network. Under the Africa Mobile Banking program, IFC seeks to address the challenge of lack of banking and financial service facilities to the rural areas through innovative channels such as mobile banking.

WIZZIT is a South African company that provides mobile banking services to a large population of rural South Africans who would otherwise not have access to commercial banking facilities due to high underlying costs, low-incomes and distant location of the banks that are normally located in urban areas. WIZZIT plans to expand its product range to include the provision of credit facilities. This consultancy will work with WIZZIT to address a specific market gap of access to (micro) credit for clients in rural areas using a mobile platform.

Summary objective of the program

To provide low cost financial services to rural and marginalized communities through the use of mobile Information Communication Technologies

B. Scope of Work

Duties and Accountabilities:

• Analyze WIZZITs existing product offering and make recommendations on compatibility with the provision of credit facilities to clients.
• Identify and analyze existing mobile banking –based micro-credit products (if any) and evaluate the potential additional benefits that a WIZZIT product would offer.
• Segregate and analyze WIZZITs existing client base in a bid to establish usage patterns based on their various and unique financial requirements, results of which will inform credit product design
• Design an appropriate micro-credit product for WIZZIT including a procedures manual and systems for cash flow management, loan portfolio management and accounting.
• Design a pilot micro-credit program that will use existing ‘ideal’ WIZZIT clients and document the results from the pilot program.
• Develop a sample five year business plan (with financials) for the microcredit program with benchmark projections
• Provide training and/or skills development roadmap for WIZZIT staff to be able to deploy the new product
• Design a ‘lab to market’ (marketing) strategy that will be used to launch the product in the South African market using the existing WIZZIT technology e.g SMS


Selection Criteria:

• A Masters degree in one or more of the following disciplines: economics/ finance/ business/ public policy.
• Over 15 years experience in designing and localizing micro-credit operations and previous experience operating micro-credit programs in African countries (experience in South Africa is preferred).
• Self-starter, mature and flexible personality; able to work in multicultural, fast-paced team environment.
• Excellent organizational, communications and inter-personal skills.
• Over 10 years experience in managing people/teams.
• Excellent written, oral and communication skills.
• Fluency in English is essential. French would be an added advantage.

C. Deliverables / Specific Outputs Expected from Consultant

Key deliverables will include:
1. Micro-credit product Feasibility Study and Business Plan
2. Budget, financial model and implementation plan for WIZZIT Micro-credit product
3. Micro-credit implementation work plan, budget, and partner list
4. Monthly progress reports, quarterly supervision reports, and other ad-hoc program reports as may be required

D. Specific Inputs to be provided by the Client:

The Consultant will report to the ICT Program Manager - Mozambique. The Consultant will also be provided with the relevant background materials on the program including: project early review and approval documents, supervision reports, donor reports, and other relevant Micro-credit documentation.

E. Special Terms & Conditions / Specific Requirements

None

F. Confidentiality Statement

All data and information received from IFC for the purpose of this assignment are to be treated confidentially and are only to be used in connection with the execution of these Terms of Reference. All intellectual property rights arising from the execution of these Terms of Reference are assigned to IFC. The contents of written materials obtained and used in this assignment may not be disclosed to any third parties without the expressed advance written authorization of the IFC
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