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| Consultancy Opportunity at FSDT |
FSDT Terms of Reference: Consultancy Services for the design and set-up of an MSME Impact Grant Fund
About FSDT
The Financial Sector Deepening Tanzania (FSDT) is a donor-funded financial sector market facilitator that aims to achieve poverty reduction through a transformative financial sector that offers inclusive and sustainable financial solutions to improve the livelihood, well-being, and empowerment of underserved Tanzanians. FSDT’s work is guided by the Market Systems Development (MSD) approach, which aims to develop market systems that benefit the poor, offering them capacities and opportunities to improve their lives.
Currently, FSDT’s main target markets are women and youth; to achieve a wider impact, our goal is to deliver quality financial solutions that support the economic development and growth of MSMES and farmers who are small-scale producers and who have been identified as the most financially excluded market segments in the country.
Through its catalytic function, FSDT hopes to achieve the following changes in the market:
• Improved policies, and legal and regulatory frameworks that promote gender equality, as well as economic and financial opportunities for women and youth.
• Improved availability of relevant financial sector infrastructures that will equip the financial sector players and other stakeholders with the ability to meet the needs and aspirations of women and youth.
• Financial service providers developing and scaling innovative and responsive financial solutions/tools for women and youth to promote equality, empowerment, and wellbeing.
• Improved confidence and capability of women and youth to demand and use financial solutions.
Background
FSDT has received funding from the European Union (EU) to implement the ‘Inclusive Finance for Growth of MSMEs, Women and Youth’ program, as part of the Finance for Growth program, focusing on developing innovative financial products and services tailored to underserved women and youth entrepreneurs in mainland Tanzania and Zanzibar.
The program aims to reduce the cost of capital, improve access to financial services, and enhance financial inclusion. This aligns with Tanzania's National Financial Inclusion Framework (NFIF) III, the National MSME Financing Framework, and the Financial Sector Development Master Plan.
The program emphasizes Diversity, Equity, and Inclusion (DEI) in all economic activities, with a preference for green and circular economic activities. Key collaborators include the Ministry of Finance (MoF), Bank of Tanzania (BOT), Capital Markets and Securities Authority (CMSA), Tanzania Insurance
Regulatory Authority (TIRA), Financial Service Providers and Financial Services apex bodies, Civil Society Organizations (CSOs), Apex Bodies and Business Development Service Providers, Academic Institutions and Research Institutions, Wholesale Financiers, Investment Funds, and Fund Managers, Incubators, Accelerators and Hubs, and international partners.
The initiative supports broader national and EU strategies, addressing global challenges such as economic inequality, climate change, and employment, focusing on improving the financial welfare of individuals and businesses.
Purpose and objectives of the assignment
FSDT is in the process of establishing an MSME Impact Grant Fund under the EU-funded Inclusive Finance for Growth of MSMEs, Women, and Youth program, which will provide impact grants to women and youth-led MSMEs engaged in high-impact activities—particularly those contributing to the transition towards a climate-neutral and sustainable economy.
The fund will offer two types of grants:
• A capital grant to finance start-up costs (seed stage) and expansion costs, including equipment purchase and investment in new technology, processes, or products.
• An operating grant to cover the working capital required for formalizing or expanding an existing business.
Additionally, eligible grant recipients will be linked with financial service providers (FSPs) to access credit, equity, and transactional products to ensure the sustainability of the impact grant received. Key investment areas include (not exhaustive):
1. Sustainable use and protection of water and marine resources.
2. Transition to a circular economy.
3. Pollution prevention and control.
4. Protection and restoration of biodiversity and ecosystems.
5. Increased delivery of products and services for women- and youth-led MSMEs.
6. Waste management, renewable energy, alternative cooking fuels, and agroforestry.
Scope of Work
As part of the establishment of the MSME Impact Grant Fund, FSDT is seeking a consultant to provide the following services:
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