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(RFP) -Technical Assistance to Support Rwanda Finance Ltd with the Operationalization of a Financial Sector Skills Council

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To:                 Offerors

Date:               September 11, 2020

From:              USAID Nguriza Nshore Activity (Implemented by DAI Global LLC)

 Subject:           Request for Proposals (RFP) – Technical Assistance to Support Rwanda Finance Ltd with the Operationalization of a Financial Sector Skills Council.

 Due:                5:00PM Central Africa Time (CAT), October 2, 2020

Dear Offerors:

It is our pleasure to release a Request for Proposal (RFP) to support the implementation of DAI’s Nguriza Nshore Activity funded by the United States Agency for International Development (USAID). DAI invites companies (consulting and/or law firms and others with relevant experience and successful track records) to submit a proposal(s) in support of Rwanda Finance Ltd with the Operationalization of a Financial Sector Skills Council.

  1. RFP Process and Deadlines. This solicitation will result in the award of a single Fixed Price Contract (FPC) or an Individual Consulting Agreement (ICA).
  2. Submission of Questions. Questions must be submitted no later than 1:00 pm CAT, September 18, 2020, via email to
  3. Submission of Proposals. Proposals must be submitted no later than 5:00 pm

CAT, October 2, 2020, via email to NgurizaNshore_Responses@dai.comThe subject line of the email must include your organization or consultant name, followed by;

  • “Submission under RFP NgurizaNshore, “Technical Assistance to support Rwanda Finance Ltd with the Development of a Financial Sector Skills Council.

In your email submission, certify a validity period of 60 days for the price provided and include your organization’s DUNS number if registered as a business. Limit file submissions to 10 megabytes or less.

  1. Proposal Composition: Proposals must include the following submission documents. The Technical Proposal and Cost Proposal must be prepared as separate files for independent evaluation as follows.
  2. Technical proposals must be submitted as a PowerPoint or PDF presentation in Times New Roman font.
  3. Cost proposals must be submitted in Excel format in Arial font.

Part 1: Technical Proposal

Technical proposals must be no more than ten (10) slides. If submitting a response for both assignments, provide two separate proposals with the ten-slide limitation for each one. The technical proposal must include the following three (3) sections: 

  1. Technical Approach. Offerors must detail their approach to fulfill the accompanying Scope of Work. The approach must clearly indicate how the proposed methodology and activities will result in the successful completion of all deliverables and milestones. The technical approach must also include a situational analysis of Rwanda’s financial sector and existing capacity building interventions with their relevant funding mechanisms.
  2. Organizational or Consultant Capacity. Offerors must provide details about their experience, expertise, and capacity to successfully undertake the proposed approach and complete the Scope of Work as described, including past performance information in similar contexts.
  3. Management Plan/Staffing Structure. Offerors must include details of personnel who will be assigned to the activities described in the technical approach, as well as a clear management plan in narrative form for the development, review, and submission of all associated deliverables, including a milestone schedule. Offerors are permitted to engage in partnering arrangements if it will aid in providing best value to USAID, regardless of whether organizations are based within or outside Rwanda. If a partnering arrangement is being proposed, please describe the nature of the arrangement, the specific technical value contributed by each member of the team, and the appropriate management controls to ensure successful delivery.

In addition to the requirements above, Offerors must include the following information within their presentations. 

  • One (1) to two (2) examples of past performance relevant to this activity and success achieved resulting from previous work undertaken (limited to one (1) slide/page per example).
  • CV(s) of any individuals proposed in the staffing plan to conduct this activity (limited to two (2) slides/pages per individual). Offerors must submit individuals with expertise and experience leading capacity building reforms for the financial sector.

Note: the cover slide will not be counted in the ten (10) slide/page total, should offerors choose to include one. No additional annexes or documentation are requested at the release of this RFP for the Offeror’s technical proposal.

 Part 2: Cost Proposal 

The contract type will be either a Fixed Price Contract or an Individual Consulting Agreement depending on whether a business or individual is selected.

The cost proposal must propose a fixed price including cost details for associated deliverables. Offerors must also include a cost breakdown of the daily rates for proposed personnel, any direct costs, indirect costs, and fees if applicable with a build-up to the total proposed price. Cost breakdowns included will be utilized to determine price reasonableness. Offerors must use the attached cost/budget template; limit file submissions to 10 megabytes or less.

Proposal Evaluation. DAI will use the best value determination for the award of this RFP. A best value determination means that, in DAI’s estimation, the selected offer will provide the greatest overall benefit to USAID in response to the requirements stated in this RFP. DAI may also exclude an offer from consideration if it determines that an Offeror is "not responsible,” i.e., the Offeror does not have the management, technical and financial capabilities necessary to perform the work required or should the Offeror not follow the requirements of this RFP. Proposals will be evaluated against a stated number of factors, including the overall proposed approach, past performance, specific qualifications in the identified sector, and other evidence substantiating the Offeror’s ability to deliver, including budget and timeframe considerations. Preference will be given to an Offeror with the previous financial sector and training experience in international financial centers/hubs. East Africa's experience is required (Rwanda preferred). International firms are encouraged to apply but localized knowledge and experience is a requirement.

  1. Technical Proposal. The Technical Proposal will be scored and evaluated separately from the cost proposal. Technical reviewers will evaluate offers on the following factors.
  2. Technical Approach (30 points). Points for this section will be awarded based on the information presented in the technical approach. Points will be awarded that best address the Scope of Work (SOW). Responses will be scored based on the Offeror’s response to the SOW which must demonstrate a clear, concise, and succinct understanding of the requirements for this specific activity, incorporating the Offeror’s competencies and past performance. Furthermore, the technical approach must clearly demonstrate the Offeror’s experience working with International Financial Centers/Hubs, particularly in skills training and/or capacity development initiatives.
  3. Institutional/Consultant Capacity and Past Performance (70 points). Points for this section will be based on information presented in the technical approach. Preference will be given to companies that have successfully completed assignments in similar contexts including but not limited to: similar services and/or relevant experience in supporting international financial service centers, strategy development, and capacity building for financial institutions.
  4. Cost Proposal. The cost proposal will be evaluated separately from the technical approach, with strict consideration for realism, price reasonableness, and allowability consistent with US government cost principles. Evaluation for this section will be dependent upon all information presented by the Offeror in their deliverable table, budget with cost breakdowns, and any relevant supporting cost information, as well as its alignment with the proposed technical approach.

III. Offeror’s Agreement with Terms and Conditions. The completion of all RFP requirements must be in accordance with the instructions contained in this RFP. Submission to DAI on the technical and cost proposals will constitute an offer and indicates the Offeror’s agreement to the terms and conditions set forth in this RFP. DAI is not required to accept and/or evaluate proposals that do not conform to the instructions of this RFP and, in addition, DAI may reject all proposals and not make an award. DAI reserves the right to make an award without discussion and/or negotiation; however, DAI also reserves the right to conduct discussions and/or negotiations, which, among other things, may require an Offeror to revise its proposal (technical and/or cost). By submitting an offer, Offerors agree to comply with the general terms and conditions for an award, including Representations and Certifications compliance. Offerors must provide full, accurate, and complete information in response to this solicitation. By submitting an offer, Offerors certify that they have not and will not attempt to bribe or make any payment to DAI employees in return for preference.

In addition, Offerors are strictly forbidden to contact Rwanda Finance Ltd during the preparation of their proposals. Offerors in violation of this requirement will be disqualified.

Issuance of this RFP in no way obligates DAI to render an award, nor does it commit DAI to pay any costs incurred by the Offeror to prepare and submit a proposal. DAI reserves the right to award a Fixed Price Purchase order to one organization or to issue multiple awards based on the results of our evaluation.  


USAID Nguriza Nshore Activity

Financial Sector Skills Council


 Rwanda strives to become an upper-middle income country by 2035 and achieve a high-income status by 2050. To reach these goals, the country’s leadership has identified several pathways, including the creation and positioning of Rwanda as a leading international financial center – termed “Kigali International Financial Center” (KIFC).

Rwanda Finance Ltd, an investment promotion agency operating under the Ministry of Finance and Economic Planning, leads the KIFC initiative. Rwanda Finance focus areas include: (1) establishing important legal/regulatory frameworks and tax incentives; (2) developing a skills and capacity building strategy for the financial sector thereby enhancing financial sector outreach, performance, and profitability; and, (3) marketing, promoting and positioning Rwanda as a leading investment destination. Priority industries include Fund and Trust services, Wealth Management, Capital Markets, and FinTech.

The training ecosystem for the financial industry in Rwanda is scattered and fragmented. There are several capacity-building providers, but all operate in siloes. As such, there is no mechanism in place to oversee and coordinate capacity building initiatives of existing and potential providers for the financial industry. In addition, key industry and government stakeholders unanimously identified the need for greater coordination and oversight in skills development and capacity building for the industry writ large.

Rwanda has developed a legal framework for a National Sector Skills Council and a few priority sectors. However, the Council has been inactive since its inception with minimal private sector influence or participation. This delay has created the need for the government to revamp and operationalize it.

For the KIFC to flourish, the financial industry must to put in place an institutional framework for capacity building to:

  • Foster and promote skills and workforce development in line with KIFC objectives.
  • Stimulate a culture of training and lifelong learning at the individual, organizational, and national levels to enhance labor force employability and increase productivity.
  • Regulate and coordinate financial industry skills development and financing in line with evolving sector labor market needs.
  • Provide an operational framework for Public-Private Partnerships leading to increased skills development and financing in the financial industry.
  • Define linkages and collaboration frameworks between employers and training providers.

The establishment of a Financial Sector Skills Council is linked to Rwanda’s Visions 2020 and 2050 that promote Human Resource Development and the transformation of Rwanda into a knowledge-based economy.

International financial centers – such as Singapore and Mauritius – all have councils that oversee and influence key capacity building initiatives for their financial sectors; the planning and delivery of training for critical skills; development of occupational standards and competency frameworks; conducting of labor market needs assessments and skills audits; and promoting employment-based best practices

The Financial Sector Skills Council will be a fully functional and responsive organization that will help policymakers, school administrators, financial industry leaders, and other concerned leaders (as defined by the national skills council legal framework), to work cooperatively and constructively to advance skills development, capacity building, and educational excellence in the financial industry. The Council will facilitate collaboration among the actors to enhance quality, create efficiencies, and develop partnerships among capacity building providers to foster a more cohesive ecosystem and delivery mechanisms.

As a result, Rwanda Finance seeks to identify the most appropriate strategy and framework best suited to operationalize a Financial Sector Skills Council for the local financial industry ecosystem.

Scope of Work

 Rwanda Nguriza Nshore seeks to procure a company to support Rwanda Finance Ltd helping it establish a Financial Sector Skills Council necessary to upgrade overall workforce education and skills and position Kigali as a leading international financial center/hub.

Key activities will include:

Phase 1: Situational Analysis of the Rwandan Financial Services Industry

A Financial Sector Skills Council legal framework is already in place defining its basic operational guidelines and governance structure. Consultations were conducted with key stakeholders to define this framework which forms the roadmap for the development of skills councils in each respective sector. Further due diligence and stakeholder consultation must be undertaken to determine the design and operationalization of these skills council specific to the financial industry based on existing sector conditions and priorities.

Illustrative activities include:

  • Review the current sector skills framework including its operational model and governance structure to assess effectiveness against other best practice models.
  • Assess linkages and the collaboration framework between employers and training providers.
  • Conduct local stakeholder interviews to determine applicability and buy-in for the Council.
  • Undertake a benchmarking analysis of Rwanda against other international financial centers to identify gaps and determine best practice approaches for the operationalization of the financial sector skills council.

 Deliverable #1: Inception report, including a baseline/situational analysis of the Rwandan financial services industry (approved by Rwanda Finance Ltd and Nguriza Nshore)

 Phase 2: Strategy Development

Following phase one completion, design a strategy and operational framework to establish the Financial Sector Skills Council tailored to Rwandan financial industry needs and the Government of Rwanda’s skills development strategy.

Illustrative activities include:

  • Identify and provide comment on current policies/regulations to establish the Financial Sector Skills Council.
  • Comment on the current composition and governance structure of the Council reflecting inclusivity and make best practice recommendations on improvements to ensure success.
  • Determine the regulatory and coordination framework for professional skills development in the financial industry in line with evolving labor market needs.
  • Define the mandate and key functions of the Council and of each member concerning skills development, employability, and education to avoid duplication or overlap.
  • Develop the operational framework for the Council, including the financing mechanism, management, coordination, and reporting structures.
  • Describe the monitoring and evaluation framework for the Council to enhance continuous learning and to animate incremental improvements.
  • Provide an operational framework for Public-Private Partnership for skills development and financing throughout the financial sector
  • Define the operational linkages between the Sector Skills Council and the Skills Development Fund of the financial sector.
  • Define linkages and the collaboration framework between employers and training providers
  • Benchmark operational model of Council against other financial centers: Singapore, Kenya, and Mauritius to determine the sustainability and best practices

 Deliverable#2: Strategy report on the establishment and operation of the Financial Sector Skills Council (approved by Rwanda Finance Ltd and Nguriza Nshore)

 Phase 3: Implementation Plan and Stakeholder Validation

  • Stakeholder validation: conduct a validation workshop with key local stakeholders on the findings, strategy, and implementation plan
  • Develop a work plan for Rwanda Finance Ltd and relevant key stakeholders to implement the strategy

 Deliverable#3: Implementation plan

Deliverable#4: Stakeholder validation report

 Annex C: Cost/Budget Template

 The Consulting firm or individual will have dual reporting channels: (1) Rwanda Finance Ltd and (2) Nguriza Nshore personnel (the technical team lead and the monitoring and evaluation director). The technical team lead will oversee contract implementation and quality control; while, the M&E director will oversee results reporting for USAID compliance.

  1. Cost/Budget Template

Item Number


Number of Days (LoE)

Price per Day

Unit Price

(in USD or RWF)

Total Price

(in USD or RWF)


Inception report- including baseline/situational analysis of the Rwandan financial services industry





Strategy report






Stakeholder validation






Implementation plan





Sub/Total (in USD or RWF)




VAT, taxes, etc. (in USD or RWF)







  • Insert the table above into an Excel Spreadsheet using Ariel font.
  • For each item number, indicate the proposed employee/consultant name