Development of Somalia’s National Financial Inclusion Strategy (2027–2031) for CBS

FEDERAL GOVERNMENT OF SOMALIA The Ministry of Finance REQUEST FOR EXPRESSION OF INTEREST (REOI)

Country:

Federal Government of Somalia (FGS)

Name of the Project:

Somalia Productive, Resilient and Inclusive Growth Project (SPRING),

Assignment Title:

Develop Somalia’s National Financial Inclusion Strategy 2027–2031

Project ID:

P501662

Deadline for submission of EOI

5th September 2026 4: 00pm

Individual/Firm:

firm Selection

Ref No. SO-MOF-555945-CS-CQS

1. Background

In May 2025, the Federal Republic of Somalia, through the Ministry of Finance, launched the Somalia Productive, Resilient, and Inclusive Growth (SPRING) Project. The project development objective is to promote private sector led growth and job creation by improving the business-enabling environment, strengthening the financial system, and enhancing access to finance. The SPRING Project is organized around four main components: (i) improving the enabling environment for the private sector; (ii) deepening financial sector reforms and strengthening institutional capacity; (iii) enhancing access to finance and resilience for Micro, Small and Medium Enterprises; and (iv) supporting project management and coordination. Under the SPRING Project, a wide range of reform activities will be implemented to achieve the project development objective. These include improvements to regulatory and institutional frameworks, the rollout of the national digital identification system, financial sector reforms, the establishment of risk-sharing mechanisms, and the provision of business development services to MSMEs in selected economic sectors, among other priority interventions. The Ministry of Finance has received US$105 million from the World Bank, including US$10 million from the Somalia Multi Partner Fund, to implement the SPRING Project. As part of Component 2, which focuses on deepening financial sector reforms and strengthening institutional capacity, the Ministry of Finance intends to apply part of the proceeds to support the Central Bank of Somalia in developing Somalia’s first National Financial Inclusion Strategy for the period 2027–2031. 2. Responsibilities: The purpose of this assignment is to develop a comprehensive, evidence-based, gender-responsive NFIS (2027-2031) for Somalia that expands access to and usage of formal financial products and services, including a detailed costed action plan, institutional and governance framework, an integrated SMART targets and MEL framework, a Communication and Stakeholder Engagement Strategy, and a knowledge transfer and capacity-building programme for the CBS NFIS team. All other specific tasks detailed in the Terms of Reference (TOR) for the assignment can be found at the following website link: https://centralbank.gov.so/wp-content/uploads/2026/08/Somalia-NFIS-ToR-2027-2031.pdf

3. Duration: The firm is expected to complete the proposed assignment within 9 Months.

4 . The Ministry of Finance invites eligible consulting firms (“Consultants”) to indicate their interest in providing the Services. Interested Consultants should provide information demonstrating that they have the required qualifications and relevant experience to perform the Services (brochures, description of similar assignments, experience in similar conditions, availability of appropriate skills among staff, etc.). The shortlisting criteria are as follows: Core business of the firm: at least 8 years of institutional experience in financial sector development, financial inclusion policy, or closely related fields, with particular weight given to the direct NFIS/national-strategy experience. The firm must demonstrate experience in developing National Financial Inclusion Strategies (NFIS) or equivalent policy frameworks, with at least three similar assignments in Africa, preferably in fragile or post-conflict states. It should also have proven expertise in digital financial services, MSME and microfinance, financial regulation, consumer protection, gender-responsive financial inclusion, financial inclusion data and M&E systems, as well as experience in knowledge transfer and capacity building for national counterparts. Experience of relevant services in an environment similar to that of Somalia and Technical and managerial organization of the firm (provide only the structure of the organization). Do not provide CVs of key staff. Key experts will not be evaluated at the shortlisting stage.

5. The attention of interested Consultants is drawn to section III, para 3.14,3.16 & 3.17 of the World Bank’s Procurement Regulations for IPF Borrowers: Procurement in Investment Projects Financing Goods, Works, Non-Consulting and Consulting Services dated in September 2023 (“Procurement Regulations”), setting forth the World Bank’s policy on conflict of interest. 6. Consultants may associate with other firms to enhance their qualifications but should indicate clearly whether the association is in the form of a joint venture and/or a sub-consultancy. In the case of a joint venture, all the partners in the joint venture shall be jointly and severally liable for the entire contract, if selected 7. A Consultant will be selected under the Consultant Qualification Selection (CQS ) method set out in the Procurement Regulations. 8. Interested Consultants may obtain further information (in person or by e-mail) at the address below during office hours from 8.00 a.m. - 4.00 p.m. Saturday to Thursday except on public holidays.

9. Deadline for submission: Expressions of interest should be delivered in a written form to the address below (in person, or by e-mail) by 5th September 2026 4:00pm

Attention; Project Coordinator SPRING Project Ministry of Finance Federal Government of Somalia Shangani District, Mogadishu, Somalia

Email Address: [contact details removed]

Cc: [contact details removed]