ACCESS TO FINANCE RWANDA

REQUEST FOR PROPOSALS

For

CONSULTANCY SERVICES FOR MID-TERM REVIEW OF THE RWANDA SUSTAINABLE FINANCE ROADMAP FOR KIGALI INTERNATIONAL FINANCIAL CENTRE (2022-2025)

REQUEST FOR PROPOSALS

PROCUREMENT REFERENCE: MID-TERM REVIEW OF THE RWANDA SUSTAINABLE FINANCE ROADMAP FOR KIGALI INTERNATIONAL FINANCIAL CENTRE (2022-2025)

INTRODUCTION 

About Access to Finance Rwanda (AFR)

Access to Finance Rwanda (AFR) is a Rwandan not-for-profit company established in 2010 to promote financial inclusion and financial sector development in Rwanda. AFR is currently funded by Sweden, MasterCard Foundation, Global impact/ Co-Develop and Jersey Overseas Aid. 

AFR is part of the broader Financial Sector Deepening (FSD) network in Africa that seeks to create a transformative impact on ending poverty by supporting efforts to improve financial inclusion and financial sector development. This is done by working with policymakers, regulators, financial service providers, and other market participants to drive more inclusive and sustainable economic growth. Over the last 15 years, AFR has rolled out many programs and implemented projects and interventions that contributed to the inclusion of many Rwandans in the financial ecosystem (96% financial inclusion from 48% in 2008) as highlighted by the Rwanda 2024 Finscope survey report. 

1.2 About the Kigali International Financial Centre (KIFC) 

KIFC is a national flagship initiative to transform Rwanda into a financial services and business hub. It includes Rwanda's financial ecosystem and investors looking to set up in Rwanda to invest across the African continent.

1.3 About Rwanda Finance Limited (RFL)

The Government of Rwanda established RFL as the lead agency to advance the competitiveness of the financial industry in Rwanda and facilitate increased investment and trade in the country. Over the past four years, RFL has worked with key stakeholders and partners to develop and promote KIFC through facilitating investment promotion, policy and regulatory reform advocacy, and sector upskilling. 

Background and purpose of the assignment 

The RFL has been implementing the Sustainable Finance Roadmap (2022–2032), which provides a strategic framework for positioning Rwanda as a leading Pan-African hub for sustainable finance.  The roadmap aligns with Rwanda's Vision 2050 and Green Growth and Climate Resilience Strategy, aiming to integrate sustainable finance into the country's financial sector to support local and regional green projects. The roadmap also sets out key strategic objectives and initiatives focused on:

• Developing sustainable financial instruments and deepening sustainable finance markets.
• Strengthening financial sector infrastructure to support sustainable finance; and
• Building human capital and institutional capacity across the ecosystem.

Notable achievements to date include the development of the Rwanda Sustainable Finance Taxonomy and its accompanying Implementation Plan, ongoing efforts to enhance Environmental, Social, and Governance (ESG) disclosure standards, and a range of capacity-building initiatives across the financial sector.

As the Roadmap reaches its mid-term milestone, it is important to conduct a Mid-Term Review (MTR) to evaluate progress against the set objectives, identify implementation bottlenecks, and refine strategic priorities to ensure effective delivery over the remaining period. In this context, AFR, in collaboration RFL, intends to recruit a qualified consulting firm to undertake this review and provide actionable recommendations to strengthen implementation and maximize impact.

The purpose of this consultancy is to conduct an independent Mid-Term Review of the KIFC Sustainable Finance Roadmap to:

• Assess progress made toward achieving the roadmap’s strategic objectives and outcomes.
• Evaluate the effectiveness, efficiency, relevance, and sustainability of implementation activities.
• Identify challenges and lessons learned to inform the second phase of implementation (2022–2025).
• Recommend strategic adjustments, priorities, and partnerships to accelerate delivery of the remaining actions.

Interested firms should confirm their intention to submit a bid by Wednesday, March 4th, 2026, at 17h00 HRS CAT

Any requests for clarifications to the RFP may be submitted not later than Friday, March 13th 2026, 17h00 HRS CAT.

Bidders should submit their proposals no later than Friday, March 20, 2026, 14:00 HRS CAT

Responding bidders are advised that this solicitation does not in any way obligate AFR to make a contract award or compensate the responding firms for any costs associated with the preparation and submission of their proposals. Additionally, AFR may award a contract without conducting negotiations; all proposals should be submitted initially using your most favorable terms. AFR reserves the right to award any resultant contract to other than the offeror submitting the lowest price proposal based on technical excellence, schedule superiority or client request.

All communications regarding this RFP should be addressed via email: procurement02@afr.rw  

Below is the summary planned procurement schedule:

Cordially,

Jean Bosco Iyacu

Chief Executive Officer