ACCESS TO FINANCE RWANDA

Request for Proposals

For

Consulting Firm to undertake the End-of-Project Evaluation of the “Enhancing SME Finance through Innovation, Capacity Building, and Risk Mitigation” and “Unlocking Livelihoods through Financing Women-owned MSEs (Wisigara Mugore)” Projects

REQUEST FOR PROPOSALS

PROCUREMENT REFERENCE NUMBER: AFR/RFP-End of project evaluation-Enhancing SME Finance/OCT/2025.

1. INTRODUCTION 

1.1. 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, and Jersey Overseas Aid. 

AFR is part of the broader Financial Sector Deepening (FSD) network in Africa, which seeks to contribute to more inclusive and sustainable economic growth through financial inclusion and financial sector development by working with policymakers, regulators, financial service providers, and other market actors. 

AFR supports the removal of systemic barriers that hinder access to financial services by low-income people, particularly the rural poor, women, youth, and MSMEs. AFR is guided by the Market System Development (MSD) approach, recognizing that efforts to increase financial inclusion and financial sector development must be market-led, profitable, and sustainable. 

1.2. About the projects/ Overview of the projects

In partnership with six financial institutions AFR has been implementing two key projects aimed at fostering inclusive finance and supporting MSME growth:

1. Project 1: Enhancing SME Finance through Innovation, Capacity Building, and Risk Mitigation – designed to strengthen financial institutions’ capacity to deliver innovative SME-centric solutions, enhance access to finance, and reduce risks associated with SME lending.

2. Project 2: Unlocking Livelihoods through Financing Women-owned MSEs (Wisigara Mugore) – focused on addressing barriers faced by women entrepreneurs in accessing finance, improving their business resilience, and promoting inclusive economic growth.

Both projects have contributed to AFR’s mission of facilitating a more inclusive financial sector in Rwanda, with an emphasis on women, youth, and MSMEs. The key interventions focused during the implementation:

• Intervention 1: Technical Assistance to FSPs to deliver innovative SME-centric solutions.
• Intervention 2: De-risking SME Finance 

As the projects approach completion, AFR seeks to commission an independent end-of-project evaluation to assess their relevance, effectiveness, efficiency, impact, and sustainability.

2. Objectives of the assignment

The primary objective of this end-of-project evaluation is to assess the two projects’ performance in relation to their intended outputs, objectives, and outcomes, as outlined in the projects’ logical frameworks and the overall key result area’s theory of change. The evaluation will also identify potential gaps and challenges that may have affected delivery.

In addition, the assessment aims to document key learnings and success stories that contribute to AFR’s broader learning agenda, with a particular focus on lessons under its strategic pillar.

More specifically, this evaluation will consist of: 

• Review the extent to which the project has achieved its intended targets, objectives, and outcomes and the overall performance against the project theory of change.
• Assess the relevance of the project objectives and design in addressing gaps in MSME and women-owned business financing, and their alignment with AFR’s Phase III strategy and theory of change.
• Evaluate the effectiveness and adaptability of implementation strategies and delivery mechanisms with a focus on innovative approaches used to reach and serve target beneficiaries.
• Analyze the efficiency of resource utilization (financial, technical, and human) and the effectiveness of the overall project business model.
• Examine the impact of project interventions on target groups, particularly MSMEs, women-owned MSMEs, and financial institutions, while capturing success stories and impact narratives.
• Review AFR’s role in supporting the project, highlighting strengths, gaps, and lessons learned, and assessing stakeholder cooperation, buy-in, and ownership.
• Assess the sustainability of outcomes and the potential for scaling or replication of interventions.
• Identify bottlenecks and implementation challenges and provide actionable recommendations for addressing them.
• Document key learnings, innovations, and recommendations for improving future programming and informing AFR’s broader knowledge management agenda.

Interested bidders must confirm their intention to submit a bid by October 10, 2025, at 17h00 HRS CAT

Any requests for clarifications to the RFP may be submitted by October 16, 2025, 17h00 HRS CAT.

Bidders should submit their proposals no later than October 20, 2025, 17:00 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:

Note: This procurement is open to locally registered firms. However, collaboration or joint ventures with foreign firms to enhance technical capabilities are permitted.

Cordially,

Jean Bosco Iyacu

Chief Executive Officer