Short-term Consultancy: Kenya Investment Mechanism Senior Gender Advisor
Background
KIM is a five-year activity designed to unlock $520 million of investments for targeted areas of agriculture; energy; infrastructure; health; water, sanitation, and hygiene (WASH); and the Women’s Economic Empowerment (WEE) and Prosper Africa initiatives. Other targeted areas authorized (subject to funding) include education, workforce development, trade, and environmental tourism. KIM’s geographic region is East Africa (defined as the East African Community plus Ethiopia).
KIM provides business transaction support through a diverse range of sustainable partnerships with and among businesses, institutions, government counterparts (country and national) and other development partners. These partnerships will help scale and replicate creative approaches to unlock finance and investments, reduce risks of extending credit to the target sectors, and offer testing of innovative business models that can be scaled.
According to International Finance Corporation (IFC), women entrepreneurs confront a $300 billion financing gap globally and nearly 70% of women entrepreneurs have inadequate or no access to financial services. Women entrepreneurs in Kenya, in particular, face a $2.7 billion credit gap along with disproportionate barriers to full economic participation, despite the potential of the female economy to unlock significant growth.
The challenges limiting women’s access to finance in Kenya are multifaceted. Commercial banks’ requirements—including real collateral and business records—can be prohibitive for some women. Other women entrepreneurs are unaware of the types of financial products and services in the market and lack the networks requisite to connect with sources of financing. Limited financial literacy also generates distrust in the formal financial sector.
KIM aims to build upon its existing relationships with Kenyan financial institutions and investors to mobilize long-term commercial financing for women entrepreneurs. This approach promotes the development of a competitive market for financial services through results-based incentives to demonstrate proof-of-concept and promote long-term sustainability. By financing women-led businesses, Kenyan financial institutions have the potential to expand their client base, increase profits and decrease credit risk, while also facilitating long-lasting economic growth and development.
Objective
WEE is a significant component of KIM’s Year 5 workplan. This SOW assignment’s overarching objective is integration of USAID’s Gender Equity & Social Inclusion policy across all KIM activity - providing capacity building that offers sustainable impact (BASPs, FIs, Business Enabling Environment, Strategic partners, DFC FIs, Procurement, Communications, and M&E).
Responsibility and Level of Effort
Responsibilities: The consultant will the implementation of Women’s Economic Empowerment activities in the KIM workplan. Support will include consultation/meetings with the KIM COP, DCOP, activity leads and other relevant team members, local partners, local subcontractors, etc., a review of the WEE’s workplan, and other related planning documents (activities calendar and budget). Oversight management and technical support will provide the local team with needed short-term activity results and a view towards end of project and completion of activities. The consultant will provide monthly technical oversight over the WEE activities for a period of 11 months, with three trips to Nairobi to support the KIM team with Gender and Social Inclusion and provide technical oversight for key WEE events as identified within the Y5 work plan.
Level of Effort: The estimated level of effort for this full scope of work is up to 110 days, as needed.
Deliverables
For this consultancy, the deliverables will include:
o WEE public Gender Equity & Social Inclusion events, in collaboration with women associations
o Women Executive Program at Strathmore University including a Partnership with USAID’s Small Business Centers program
o Market connections between W-SME’s and FIs/investors with support from BASPs for investment readiness
Technical Oversight and Supervision
The consultant will report to the KIM DCOP with the Chief of Party in copy on correspondence.
Qualifications
Application Submission
Applicants are required to send their detailed CVs and Cover letters no later than October 31st, 2022, at 11:59 PM EAT.
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