Procurement of Fund Management Services for Financial Inclusion Fund for a Period of Three Years

PROCUREMENT OF FUND MANAGEMENT SERVICES FOR FINANCIAL INCLUSION FUND FOR A PERIOD OF THREE YEARS

Tender number: FIF/1204/0027/2026-27

Procuring entity: FINANCIAL INCLUSION FUND

Procurement category: Non Consultancy Services

Procurement method: Open Tender

Bidding access: Open

Source of funds: GoK

Technical evaluation: Combination of Both

Evaluation basis: Item wise

Bid validity: 126 days

Clarifications until: 06 Nov 2026 10:00 (Nairobi time)

Published: 03 Nov 2026 10:00 (Nairobi time)

Closing: 11 Nov 2026 10:00 (Nairobi time)

Bid opening: 11 Nov 2026 10:01 (Nairobi time)

Eligibility documents required

- SELF - DECLARATION FORM - SD 1&2 - BIDDERS MUST REGISTERED IN KENYA AND MUST PROVIDE A CERTIFIED COPY OF CERTIFICATE OF INCORPORATION FROM THE REGISTRAR OF COMPANIES. - THE BIDDER MUST PROVIDE EVIDENCE OF HAVING A MINIMUM OF TEN BILLION (10,000,000,000.00) AS ASSET UNDER MANAGEMENT CLEARLY GIVING A TABULATION OF ASSET UNDER MANAGEMENT PER CLIENT. - A COPY OF CURRENT/VALID TAX COMPLIANCE CERTIFICATE ISSUED BY THE KENYA REVENUE AUTHORITY CERTIFIED BY COMMISSIONER OF OATHS. - DULY FILLED, SIGNED AND STAMPED CONFIDENTIAL BUSINESS QUESTIONNAIRE - BIDDERS MUST PROVIDE CERTIFIED VALID COPY OF 2026 SINGLE BUSINESS PERMIT FOR THE HEAD OFFICE AND COUNTIES WHERE ITS OPERATIONAL (CERTIFIED BY THE COMMISSIONER OF OATHS) - CERTIFIED COPY OF VALID REGISTRATION CERTIFICATE FROM RETIREMENT BENEFITS AUTHORITY AS A FUND MANAGER CERTIFIED BY COMMISSIONER OF OATHS. - CERTIFIED COPY OF VALID REGISTRATION /LICENSE CERTIFICATE AS A FUND MANAGER FROM THE CAPITAL MARKETS AUTHORITY CERTIFIED BY COMMISSIONER OF OATHS. - PROVIDE A VALID FIRM’S TEAM LEADER MEMBERSHIP IN GOOD STANDING WITH ICIFA IN ADDITION TO A VALID FIRM’S MEMBERSHIP WITH ICIFA CERTIFIED BY COMMISSIONER OF OATHS. - PROVIDE A CERTIFIED COPY OF CERTIFICATE OF REGISTRATION FROM THE OFFICE OF THE DATA PROTECTION COMMISSIONER FOR DATA CONTROLLER AND DATA PROCESSOR - BIDDERS MUST PROVIDE VALID NSSF COMPLIANCE CERTIFICATE CERTIFIED BY A COMMISSIONER OF OATHS, HIGH COURT OF KENYA. - CR12 FOR LIMITED COMPANIES NOT OLDER THAN 3 MONTHS, AS AT THE DATE OF THE TENDER OPENING) - PROVIDE EVIDENCE OF VALID PROFESSIONAL INDEMNITY INSURANCE OF AT LEAST KSHS FIVE HUNDRED MILLION ONLY (500,000,000.00) - ORIGINAL BID SECURITY OF KENYA SHILLINGS THIRTEEN THOUSAND THREE HUNDRED ONLY (KSHS. 13,300.00) FROM A REPUTABLE FINANCIAL INSTITUTION IN KENYA VALID FOR 30 DAYS BEYOND THE TENDER VALIDITY PERIOD - PROOF OF TENANCY OF ITS HEAD OFFICE /BRANCH IN THE COUNTIES ATTACH FULLY EXECUTED LEASE/TENANCY AGREEMENT BY BOTH PARTIES AND MUST BE CERTIFIED BY A COMMISSIONER OF OATHS. - LETTER OF POWER OF ATTORNEY GIVING THE FULL NAME AND A SAMPLE OF THE SIGNATURE FOR THE OFFICER AUTHORIZED TO SIGN THE BID DOCUMENT - COMMITMENT LETTER AUTHORISING TO OBTAIN CONFIDENTIAL INFORMATION CONCERNING YOUR COMPANY/ FIRM FROM YOUR CLIENTS CERTIFIED BY COMMISSIONER OF OATHS. - COMMITMENT LETTER SHOWING WILLINGNESS TO NEGOTIATE DOWNWARDS ON THE FUND MANAGEMENT FEES QUOTED ON THE TENDERER’S BID DOCUMENTS CERTIFIED BY COMMISSIONER OF OATHS. - DULY FILLED, SIGNED AND STAMPED DECLARATION AND COMMITMENT TO THE CODE OF ETHICS - Table Header : - KEY ACTIVITY NO. INFORMATION/DESCRIPTION Table Footer : - TECHNICAL EVALUATION TABLE SCORING : TECHNICAL EVALUATION FORM SCORING Technical Evaluation Process : - Table Header : - S.NO REQUIREMENT MINIMUM REQUIREMENT SCORES MARKS AWARD CRITERIA SUPPLIER REMARKS 1 FIRM'S RELEVANT EXPERIENCE IN FUND/INVESTMENT MANAGEMENT THE BIDDER SHALL DEMONSTRATE EXPERIENCE IN PROVIDING FUND /INVESTMENT MANAGEMENT SERVICES TO INSTITUTIONAL CLIENTS. THE BIDDER SHALL SUBMIT THREE (3) REFERENCE LETTERS FROM CURRENT OR PREVIOUS INSTITUTIONAL CLIENTS. EACH REFERENCE SHALL INDICATE THE NATURE OF SERVICES PROVIDED, DURATION OF THE ASSIGNMENT AND VALUE OF ASSETS/FUND UNDER MANAGEMENT. ATTACH R E FE R E N C E THREE LETTERS INDICATING THE ASSET VALUE UNDER FUND MANAGEMENT 12 1. FUND VALUES OVER KSHS. 3 BILLION (4 MARKS EACH) 2. FUND VALUES BELOW KSHS. 3 BILLION (1 MARK EACH) 2 QUALIFICATIONS AND EXPERIENCE OF THE PROPOSED TEAM TO MANAGE THE FUND TEAM LEADER QUALIFICATIONS;. MUST HAVE A MASTERS DEGREE IN FINANCE, ECONOMICS, ACCOUNTING, INVESTMENT MANAGEMENT, ACTUARIAL SCIENCE, BUSINESS ADMINISTRATION OR ANOTHER RELEVANT DISCIPLINE. WITH CFA OR ICIFA MEMBERSHIP FOUR TEAM MEMBERS -MUST HAVE DEGREE IN FINANCE, ECONOMICS, ACCOUNTING, INVESTMENT MANAGEMENT, ACTUARIAL SCIENCE, BUSINESS ADMINISTRATION OR ANOTHER RELEVANT DISCIPLINE WITH CFA OR ICIFA MEMBERSHIP. 28 MASTER'S DEGREE IN A RELEVANT FIELD – 2 MARKS. O CFA/ICIFA MEMBERSHIP OR EQUIVALENT RELEVANT PROFESSIONAL QUALIFICATION – 3 MARKS. ATLEAST 15 YEARS' RELEVANT EXPERIENCE – EACH YEAR OF EXPERIENCE 1 MARK. O RELEVANT BACHELOR'S DEGREE – 1 MARK EACH. O CFA /ICIFA MEMBERSHIP OR RELEVANT PROFESSIONAL QUALIFICATION – 1 MARK EACH. 3 INVESTMENT MANAGEMENT CAPABILITY AND STRATEGY THE BIDDER SHALL DEMONSTRATE ITS CAPACITY TO UNDERTAKE INVESTMENT ANALYSIS, PROVIDE INVESTMENT RECOMMENDATIONS AND MANAGE ASSETS IN ACCORDANCE WITH THE FUND'S IPS 10 1.ASSET ALLOCATION AND INVESTMENT STRATEGY – 2 MARKS. 2.INVESTMENT RESEARCH, ANALYSIS AND RECOMMENDATIONS 2 MARKS 3. PORTFOLIO CONSTRUCTION, MONITORING AND REBALANCING – 2 MARKS. 4. LIQUIDITY MANAGEMENT AND REINVESTMENT OF INCOME – 2 MARKS. 5 CAPACITY TO ADVISE ON PROPERTY INVESTMENTS – 2 MARKS 4 OPERATIONAL CAPACITY AND SERVICE DELIVERY THE BIDDER SHALL DEMONSTRATE ADEQUATE OPERATIONAL RESOURCES AND SYSTEMS TO EFFECTIVELY MANAGE THE FUND. MUST HAVE A BRANCH, AFFILIATE OR SUBSIDIARY IN AT LEAST 5 OTHER COUNTIES OUTSIDE OF NAIROBI COUNTY. 30 ABOVE 5 COUNTIES OUTSIDE NAIROBI (4 MARKS PER COUNTY- MAXIMUM 20 MARKS AT LEAST ONE STAFF IN THE BRANCH MUST HAVE CISI OR CFA OR ICIFA QUALIFICATION– 2 MARKS PER COUNTY. MAXIMUM 10 MARKS 5 RISK MANAGEMENT, GOVERNANCE AND REGULATORY COMPLIANCE THE BIDDER SHALL DEMONSTRATE SYSTEMS AND CONTROLS FOR PROTECTING THE FUND AND ENSURING COMPLIANCE WITH APPLICABLE REQUIREMENTS. (PROVIDE RISK MANAGEMENT FRAMEWORK, COMPLIANCE POLICY, CONFLICT-OF- INTEREST POLICY, GOVERNANCE FRAMEWORK AND RELEVANT PROCEDURES). 8 INVESTMENT RISK MANAGEMENT FRAMEWORK – 2 MARKS. O COMPLIANCE WITH RBA/CMA REQUIREMENTS, INVESTMENT GUIDELINES AND IPS – 2 MARKS. O CONFLICT-OF- INTEREST IDENTIFICATION AND MANAGEMENT – 2 MARKS. O INTERNAL CONTROLS AND GOVERNANCE – 1 MARK. O MONITORING AND ADVICE ON REGULATORY CHANGES – 1 MARK. 6 PERFORMANCE MONITORING, REPORTING AND COMPLIANCE THE BIDDER SHALL DEMONSTRATE CAPACITY TO PROVIDE TIMELY, ACCURATE AND COMPREHENSIVE INVESTMENT REPORTS. (PROVIDE SAMPLE INVESTMENT /PORTFOLIO REPORTS, PERFORMANCE REPORTS, COMPLIANCE REPORTS AND RECONCILIATION REPORTS.) 12 PORTFOLIO STATEMENTS COVERING BOOK/MARKET VALUES, CAPITAL TRANSACTIONS AND INCOME – 2 MARKS. O PERFORMANCE REPORTING AGAINST IPS BENCHMARKS FOR 3, 6, 9, 12 MONTHS AND 3 YEARS – 2 MARKS. O RETURN CALCULATION METHODOLOGY – 1 MARK.O COMPLIANCE REPORTING AGAINST STRATEGIC AND TACTICAL LIMITS – 2 MARKS. O CUSTODIAN RECONCILIATION AND VARIANCE REPORTING – 2 MARK. O ECONOMIC/MARKET REVIEWS – 2 O INVESTMENT STRATEGY REPORTING BY ASSET CLASS – 1 MARK. Table Footer : - TECHNICAL EVALUATION TABLE : TECHNICAL EVALUATION YES AND NO Technical Evaluation Process :

- Consider for Technical Evaluation:

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