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End-term Project Evaluation for Ejo Heza Long Term Saving Scheme (LTSS), Rwanda

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Finance and investment

Advert for End-term Project Evaluation for Ejo Heza Long Term Saving Scheme (LTSS), Rwanda

  1. About Access to Finance Rwanda

Access to Finance Rwanda (AFR) is a Rwandan Not for Profit Organization, established in March 2010 by the Governments of Rwanda and the United Kingdom (UK) and is currently funded by the UK Department for International Development (DFID), MasterCard Foundation, USAID, and Sweden.

Guided by the Making Markets Work for the Poor (M4P) approach, AFR’s strategic focus is to stimulate financial sector development and address constraints that prevent the financial market from reaching Rwanda’s low-income population. AFR supports the Government of Rwanda’s development objectives by aligning all its interventions to the national policy frameworks including the Financial Sector Development Program (FSDP) II, the Economic Development and Poverty Reduction Strategy (EDPRS), the National Employment Policy, and the National Investment Strategy.

  1. Overview of the project – Long Term Saving Scheme “Ejo Heza” Project

Rwanda is a young nation with around 60% of the population aged 30 years or under. However, its elderly population (60 plus) is growing much faster than the general population and is expected to double from 510,000 in 2012 to nearly 1,100,000 individuals (or around 7% of the projected population) by 2030 due to a combination of reducing fertility rates and improvements in life expectancy. The pension sector had focused mainly on the formal sector which employs only 10% of adults in Rwanda. This left the vast majority of the working population in the informal sector including agriculture excluded from formal pension arrangements and the majority exposed to the risk of inadequate income in old age and the need to rely on children/extended families or the Government.

The Government of Rwanda launched the Long-term Saving Scheme otherwise known as "Ejo Heza" in December 2018. Rwanda Social Security Board (RSSB) is the administrator of this initiative. It is a defined contribution scheme, established on a voluntary basis by opening a savings account with a scheme administrator – RSSB. A citizen can use a simple feature phone and a USSD facility to easily open a portable pension account within minutes. The scheme covers both formal and informal sector employees and offers attractive fiscal incentives to motivate voluntary participation and persistence.

The Ministry of Finance and Economic Planning (MINECOFIN), Rwanda Social Security Board (RSSB) with the support from Access to Finance Rwanda (AFR) are implementing the Ejo Heza long-term saving scheme (LTSS). Through this Scheme, the Government aims to provide each Rwandan citizen an equal right and opportunity to accumulate savings for his or her own old age in order to achieve a financially secure and dignified retirement.

  1. The objective of the assignment

AFR seeks a qualified consulting firm or a team of consultants to conduct an end-term review of the Ejo Heza Long term Saving Scheme (LTSS), Rwanda. The assignment has two objectives:

  1. A formal end term project review assessing the performance of the project
  2. Documenting key learnings, success stories, and potential innovations to contribute to the overall AFR’s Knowledge Management objectives, especially under its thematic areas on “Extending pension coverage to the informal sector
  3. Scope of Work

The firm/consultants will assess the project based on OECD-DAC evaluation criteria.

How to Apply

All interested and qualified firms should submit their proposals (both Technical and Financial) separately, marked with the clear subject line: “End-term project evaluation for Ejo Heza Long Term Saving Scheme (LTSS), Rwanda” to; no later than Monday 2nd November 2020 at 05:00 pm Central African Time (CAT).

KEYNOTE: Follow this link to the AFR website detailed information on this advertisement.