1. THE REGISTERED TRUSTEES OF THE FINANCIAL SECTOR DEEPENING TRUST (the "FSDT") was incorporated in Tanzania on 1st July, 2004. The FSDT is a fund sponsored by five international donors from Canada, Denmark, the Netherlands, Sweden and the UK, as well as the Government of Tanzania.
It has been established to channel development partner resources to support the development of pro-poor financial markets in response to the Government's National Strategy for Poverty Reduction (in Swahili known as "MKUKUTA"), as well as its National Microfinance Policy.
2. The FSDT's overall aim is to help more people achieve greater access to a deeper financial system in Tanzania. This entails a focus on rural, urban and poorer communities, as well as micro and small enterprises.
The FSDT funds a wide variety of initiatives and investments in the financial sector using grants, loans, subordinated debt and other instruments.
3. The FSDT's Trust Deed provides for the Trust to outsource the functions of the Finance Manager to a third party. The contract for the existing Finance Manager ("Ernst & Young") is shortly due to end. The FSDT now invites eligible accounting firms/ corporate entities of international repute with experience in managing similar programmes or providing financial management services with respect to large-scale projects such as the FSDT, to submit bids to provide the required services for a four year term.
Interested firms/corporate entities must provide information indicating their professional capability to undertake the programme, experience in similar assignments and availability of appropriate skills among staff. The firms/corporate entities must also have or have the capacity of insuring professional indemnity insurance of no less than USDS million. The existing Finance Manager is permitted to bid for the services.
4. The functions of the Finance Manager are as follows:
It has been established to channel development partner resources to support the development of pro-poor financial markets in response to the Government's National Strategy for Poverty Reduction (in Swahili known as "MKUKUTA"), as well as its National Microfinance Policy.
2. The FSDT's overall aim is to help more people achieve greater access to a deeper financial system in Tanzania. This entails a focus on rural, urban and poorer communities, as well as micro and small enterprises.
The FSDT funds a wide variety of initiatives and investments in the financial sector using grants, loans, subordinated debt and other instruments.
3. The FSDT's Trust Deed provides for the Trust to outsource the functions of the Finance Manager to a third party. The contract for the existing Finance Manager ("Ernst & Young") is shortly due to end. The FSDT now invites eligible accounting firms/ corporate entities of international repute with experience in managing similar programmes or providing financial management services with respect to large-scale projects such as the FSDT, to submit bids to provide the required services for a four year term.
Interested firms/corporate entities must provide information indicating their professional capability to undertake the programme, experience in similar assignments and availability of appropriate skills among staff. The firms/corporate entities must also have or have the capacity of insuring professional indemnity insurance of no less than USDS million. The existing Finance Manager is permitted to bid for the services.
4. The functions of the Finance Manager are as follows:
- monitoring payment made under Grant Letters signed with the FSDT's funders and advising the Trustee and the relevant member if due payment is not made;
- maintaining a budget and a cash flowforecast of the FSDT for approval by the Technical Director;
- supporting FSDT management in preparing draft funding agreements to implement funding proposals having obtained a "no objection" by the Programme investment Committee (PIC - the FSDT's top governing body) and arranging for the Trustee and the other parties to approve and execute them;
- managing the FSDT's own administrative expenditure in accordance with the FSDT's policies and procedures;
- facilitating the Trustee's performance of the Funding Agreements and, where relevant, the Grant Letters by preparing disbursement requests and submitting to the appropriate Trustee;
- to implement courses of action approved by the PIC;
- preparing and submitting to the Trustee quarterly financial statements and annual accounts to support the Trustee in meeting its obligations;
- preparing, amending and submitting to the Trustee for adoption the policies and procedures.
6. Bids will be opened at 15:00 hours on the same date at the offices of the FSDT at the 8th Floor, PPF Tower, Corner Ohio Street/Garden Avenue, Dar Es Salaam. Bidders are encouraged to attend the opening of the bids.
7. Bids evaluation will take place within two weeks from the submission deadline and the winning bid will be announced to the winner in early July, 2009. The winning bidder is expected to sign a service contract by the end of July 2009, but in any event no latter than 1st August, 2009.
8. Interested firms/corporate entities may obtain the Trust Deed from Mr. lan Robinson at the address given below between 8:30 hours and 16:30 hours, Monday to Friday (except on public holidays), before the deadline for the submission of bids.
9. The winning bid Will be selected on the basis of most economically advantageous tender that combines technical merit and financial scores, as well as a minimum requirement of professional indemnity insurance of not less than USD5million. FSDT will not be bound by the lowest bid.
10. In their technical proposals bidders should summarise their experience in managing similar programmes or providing financial management services with respect to large-scale projects such as the FSDT. This should include specific examples citing location, size and scope of the programme, and particular challenges encountered and overcome.
This section should be no more than eight pages long. Technical bids should also contain CVs (maximum five pages each) of the specific individuals who would be assigned to the FSDT Finance Manager team, with a summary of their proposed roles and the number of days of each team member is expected to contribute in an average month.
11. Financial bids should contain an estimated budget in US dollars for what bidders expect would be entailed in the job over an average month. This should be broken down into: (a) the time each team member is expected to contribute; (b) a day-rate in US dollars; and (c) financial expenses (e.g. transport and communications costs). This budget will be treated as a minimum.
12. Technical bids will be marked out of 100, with the following breakdown: experience in managing similar programmes 35; experience and resources available in Tanzania and/ or the region 15 (max marks for Tanzania); calibre of proposed team 40, with highest marks given for relevant programme management and country experience; and realistic estimates of days for each team member per month - 10 marks. What evaluators consider as unrealistic estimates will score lower marks. Total technical scores will then be weighted by a factor of 0.8.
13. Financial bids will be scored according to the total estimated budget cost per month for fees and expenses. Financial scores will be compared and weighted according to the formula: (Lowest score bid/ Bidder's score) x 0.2. The weighted technical score will be added to the weighted financial score to produce a total.
14. The bidder with the highest combined technical and financial total score will be invited to negotiate with the FSDT. Failure to reach a satisfactory conclusion to those negotiations may result in the FSDT turning to the bidder with the next highest combined score.
15. Bids will be evaluated by a panel comprising representatives from the Trustee, the FSDT management and at least one member of the PIC.
16. Bids should addressed to:
lan Robinson,
Technical Director,
Financial Sector Deepening Trust,
8th Floor, PPF Tower,
Corner Ohio/Garden Street,
Dar Es Salaam.
ian @ fsdt.or.tz
17. Late bids will not be accepted.
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