TERMS OF REFERENCE
EQUITY, DIVERISTY, AND INCLUSION
FRAMEWORK AND STRATEGY REVIEW
1. Introduction
Financial Sector Deepening Africa Limited (“FSD Africa”) wishes to appoint a consultant: individual or firm (the “Consultant”) to review and improve an existing three-year (2021-2023), Equity and Diversity Inclusion (EDI) strategic framework, develop a strategy and implementation plan for EDI at FSD Africa (“the Services”). The EDI strategy will be built on the philosophy that valuing people is at the heart of FSD Africa’s organisational performance.
FSD Africa values and recognises the unique backgrounds, skills, and perspectives of its employees. Through review of the EDI framework, we are seeking to foster EDI inclusion across the organisation to achieve excellence, high performance and delivery as FSD Africa pursues its mandate.
2. Project Background
2.1 FSD Africa
We work to reduce poverty by strengthening Africa’s financial markets.
Based in Nairobi, FSD Africa was established in 2012 and is funded by FCDO. It has a team of just over 50 people, of whom 10 work in the investment arm, FSD Africa (Investments)(FSDAi).
FSD Africa is a specialist development agency set up to support breakthrough ideas to build and strengthen financial markets across sub-Saharan Africa. It works to reduce poverty by strengthening Africa’s financial markets. It does this by tackling the most intractable financial market challenges in Africa – including the lack of long-term finance, especially in local currency, dysfunctional credit markets and inadequate risk management capacity.
FSD Africa’s team of financial sector experts works alongside governments, business leaders, regulators, and policymakers to design and build ambitious programmes that make financial markets work better for everyone. Depending on the project, it can provide grants, investment capital, technical assistance, and market insights (e.g., through research) to ensure it achieves its objectives.
We focus our work where the need is greatest, and where we believe the potential for impact is the most significant. We have a specific mandate to invest in breakthrough, innovative ideas that we believe can have a transformative impact.
Among the high potential areas identified is an exciting new initiative to drive inclusive economic development by supporting digital transformation. While levels of digitalisation vary widely across Sub Saharan Africa, in all cases, digitalisation is expected to increase in the next ten years with profound effects on the real economy and on the rate of inclusive growth. The financial system is already shaping and powering the emergence of the digitalised economy in new and important ways. FSD Africa seeks to be at the forefront of research, advocacy, and action for financing the inclusive digital economy in Africa.
2. 2 EDI
As FSD Africa progresses toward achieving Vision 2025, the future of work is changing, through aspects such as remote working, sensitivity to Equity, Diversity & Inclusion. FSD Africa will require progressive and ongoing behaviour and operational changes to respond to ‘climate’ change.
The Equity, Diversity, & Inclusion vision will aspire to create and sustain an organisation wide culture that understands that diversity, equity, and inclusion are essential to FSD Africa’s mission and continued excellence. Through strategic initiatives and partnerships, policy development and stewardship, innovation, education, and engagement, the EDI strategy will shape FSD Africa’s future to one where all community members can fully realize their potential.
Currently we have an organisation of highly professional and skilled individuals identified and recruited to deliver on a strategy. But we note a few gaps:
Gender pay gap
Kenya registered organisation, staffed predominantly by Kenyans and with a mandate given to us by our UK funder – thus strong Kenyan – UK influence which is a positive but needs to be expanded
Our work is skewed towards the Kenyan market, it’s easier to connect and influence at home, but we have a Pan African mandate.
Young work force that needs guidance and coaching
Our aspirations
FSD Africa needs a team that is creative, thinks outside the box, is considerate of differences, if we are to craft the solutions to address challenges to building financial markets that will finance a greener future for Africa.
We aspire to
Respect and embrace diversity, difference, in fact seek it
Be better networked with diverse actors in the market
Be diverse in terms in terms of age, gender, cultural background and origin, and professional experience.
Come from or have in-depth experience in other geographies
Continue listening to the views of our teams and employees
Our systems, policies & procedures, practices and programmes are founded on equity, diversity, and inclusiveness. To address the above, a committee made up of internal staff members was constituted in 2020. The committee has focused its initial work on developing the strategic framework and measurement metrics and are now looking for support to finalise and operationalise the strategy.
3. Objective
The Consultant will provide expert input and advice that will coach and guide FSD Africa on developing and implementing an equity diversity, and inclusion strategy. The Consultant will work alongside the EDI Committee to develop the FSD Africa EDI strategy, review and restate the EDI measurement plan, undertake a market review of similar organisations approach and performance on EDI, develop a threeyear equity, diversity, and inclusion plan which will support FSD Africa to develop a more inclusive culture – ensuring that staff feel included, safe, and valued at work – and to diversify our workforce so that it represents the communities in which we work. They will also work with the ExCo and staff to contribute to the organisations Values revamp with specific reference to matters EDI and conduct education to different levels of staff on key aspects of Equity Diveristy and Inclusion in the Workplace. They will also develop relevant communication and sensitization material and training material for routine staff training on the subject.
Invitation to Submit Proposal
FSD Africa is inviting a proposal from a suitably qualified consultant/consultancy firm.
Your proposal should contain:
– A short description of your understanding of the role of the Consultant and the approach to be used as outlined in these Terms of Reference.
– A summary of your relevant experience for the assignment
– A description of how you intend to fulfil the Services within the suggested timeline and confirmation of your ability to meet the timelines.
– CVs (maximum 3 sides of A4 paper each) of key individuals, tailored to the assignment.
– Outline of team structure, including roles and responsibilities of team members.
– An itemised budget for both professional fees and reimbursable expenses, including fee rates, number of days and a breakdown of expenses – refer to Annex 1
Your proposal, which should not exceed 5 pages (excluding annexures), should be sent by email to FSD Africa at bids@fsdafrica.org by 1200Hrs EAT, by 12th August 2021 under the subject line reading “Equity, Diversity and Inclusion – Framework and Strategy Review.”
For detailed information, please check the complete version of the advert attached below.
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