Deadline: 8-Sep-21
The United Nations Capital Development Fund (UNCDF) is inviting financial institutions registered in Zambia that have innovative digital financial products and services that encourage formal savings and credits to apply.
In Zambia, the United Nations Development Fund supports the development of new use-cases, products or businesses models that could drive outcomes around inclusive digital economies and expansion of Digital Financial Services for segments currently left behind, such as women, youth and other vulnerable segments in the low-income groups.
This will be national project, but special focus will be put on peri-urban and rural areas. Only applicants who will meet eligibility requirements for the submission. The successful applicant will be signing a Performance-Based Agreement (PBA) with UNCDF.
Objectives
The objective of this RFA is to select partner(s) with the best digital solutions to increase usage and access of digital financial products and services of formal savings and credit targeting women, youth and vulnerable people in Zambia.
- Support the innovation, deployment or expansion of digital finance product for marginalized segment of women and youth;
- Support the innovation/enhancement, deployment of an existing digital financial services to improve adoption and usage of digital financial services to women and youth;
- Expand access and use of formal savings and credit in Zambia, with focus on women and youth;
Areas of intervention
For this request for applications (RFA), UNCDF invites applications from registered entities that can offer innovative and scalable solutions addressing one or more of the following challenges through three areas of intervention.
- Inclusive Digital Financial Services
- Challenges : Limited digital financial products in Zambia
- Objectives:
- Increase the number of new women and youth customers onboarded
- Increase the number of women and youth trained
- Increase the number of women and youth actively using digital financial products and savings
- Digital Credit & Savings
- Challenges: Inefficient digital financial services/delivery channels
- Objectives:
- Increase number of new women and youth customers who apply for a loan via digital platform
- Increase number of new women and youth who receive loans via digital platform
- Alternative credit scoring for women, youth, and other vulnerable segments in low-income groups
- Formal Savings and credit
- Challenges: Limited adoption and usage of digital savings and credit products
- Objectives:
- Increase number of new women and youth customers who save via digital platform
- Increase number of women and youth customers who actively save using digital platform
Funding Information
- For this RFA, UNCDF plans to invest up to a total of USD (US Dollars) 65,000.
Eligibility Criteria
- Entity registration
- The applicant/ lead applicant must be a registered entity in Zambia i.e., a bank, microfinance institutions, insurance company, money transfer operator, payment service provider, agent banking aggregator, mobile network operator, technology provide, fintech company.
- Relevant operation licenses (when applicable)
- The lead applicant must be licensed to provide digital savings and credit solution
- Country of operation
- Applicant(s) shall be duly incorporated and registered according to the rules of Zambia
- Applicants(s) should be operating in Zambia for at least two years
- Consortiums (when applicable)
- Applicants may apply only once under this RFA, whether independently or in a consortium.
- Joint applications between market players are encouraged if the solution proposed will expand delivery networks and promote rural and/or other lastmile access to inclusive digital financial products and services such as digital credit and savings that can drive financial inclusion especially among women and youth.
- Applications from consortiums of organizations must show that the partnership was established prior to this call for applications.
- The lead applicant and their financial service provider partner must be registered entities with at least one year of operations and must have statutory accounts and audited financial statements for at least one operating year.
For more information, visit https://www.uncdf.org/article/7080/rfa-zambia-inclusive-digital-financial-services-expansion-for-women