Microfinance Consultant International Finance Corporation

IFC is seeking an experienced microfinance consultant to lead the identification, design and implementation of advisory services (AS) projects promoting microfinance in countries supported by the CASA Program. The consultancy will comprise 170 days as follows:

? 90 days during the period January 2, 2012 to June 30, 2012.
? 80 days during the period July 1, 2012 to December 30, 2012

Please note that total World Bank Group Short-Term Consultant assignments may not exceed 150 days or 1,200 hours per fiscal year (July – June).

The International Finance Corporation (IFC) of the World Bank Group is a global investor and advisor promoting sustainable private sector development in emerging markets. In this context, IFC combines investment and advisory services to support the development of microfinance markets that serve the financial needs of micro, small and medium enterprises (MSMEs) and low-income populations.

IFC has made more than 150 investments in a range of financial institutions providing microfinance, including founding investments in global leaders like the ProCredit Group (global) and Compartamos (Mexico). In tandem, IFC supports the development of microfinance markets with advisory services that target the barriers and mitigate the risks to greater access to finance. Today, IFC is among the largest investors in microfinance and reaches over 7 million low-income entrepreneurs through its partners.

IFC’s global microfinance strategy promotes the expansion and sustainability of microfinance by: (1) investing in financial institutions dedicated to microfinance, in part by promoting collective investment vehicles (structured finance, debt and equity funds); and (2) building the capacity of financial institutions to serve low-income populations through network/holding co. sponsors and best-practice providers of microfinance, in partnership with like-minded co-investors/donors. In addition, IFC seeks to improve the functioning of markets by selectively addressing barriers originating in policy/regulation and in financial infrastructure.

In Sub-Saharan Africa (SSA), IFC’s strategy is focused on the barriers presented by financial institutions with limited capacity to serve the financial needs of low-income populations. A major focus of IFC’s strategy in the region has been the creation of greenfield microfinance banks. Since 2007, IFC has created 17 new institutions in partnership with 5 networks/holding cos. that operate according to best practices in order to deliver sustainable growth and lasting demonstration effects for other providers. Meanwhile, IFC has supported key individual institutions and addressed other barriers to growth in SSA by developing projects ranging from regulatory reform in Liberia to the creation of REGMIFA, a major regional debt fund with over US$160 million funding commitments.

C. Description of the Consultancy

The countries supported by CASA present far-reaching challenges for sustainable private sector development, including political instability, macroeconomic shocks, limited infrastructure and low skills bases. In these environments, IFC’s microfinance partners have shown the ability to develop staff and banking infrastructure, engage with the informal sector and deliver sustainable results faster than most other private sector partners. In Liberia, DRC and Madagascar, IFC’s microfinance partners have become major financial institutions within 3 years of launch. Nevertheless, each country supported by CASA presents unique challenges, which justify a dedicated consultancy to develop and manage projects in these environments.

The consultancy seeks to extend the activities of the IFC Africa microfinance program in countries supported by the CASA Program. As such, the consultancy represents a partnership between the microfinance and CASA programs, focusing on the identification, structuring and delivery (incl. internal approval) of new AS projects. The consultant will be responsible for developing and managing projects that meet IFC’s investment, AS and country requirements while addressing the barriers presented by microfinance markets in the countries supported by CASA. Operationally, the consultant will be a member of the IFC Africa microfinance team, and will also participate in other activities at the program level.

Therefore, the consultancy requires deep knowledge and experience in commercial microfinance, preferably at both the level of service provider and investor/donor. The consultant should be able to utilize his/her knowledge and experience directly to develop new projects; for example, by applying local/regional benchmarks to evaluate the performance of microfinance providers. The consultant must have strong skills covering business development, negotiation, financial/operational analysis and writing. The ideal candidate will demonstrate initiative and ability to work with minimal supervision. At the same time, the consultant will be expected to work continuously and in very close coordination with the other members of the Africa microfinance team.

The consultant will be based in SSA and reports jointly to the head of the CASA Program and the A2F Regional Business Line Leader, based in Johannesburg, or a delegated

Scope of Work

The consultant will support the IFC Africa microfinance and CASA programs by:

? Developing new microfinance AS projects in countries supported by the CASA Program, including the scoping, identification, structuring, negotiation and delivery (incl. internal approval) of projects that meet the requirements of IFC’s investment, AS and country work streams.

? Supervising microfinance AS projects in implementation to ensure that they successfully navigate barriers arising in implementation (typically design-related) as well as due to external events or factors in the market/country.

? Producing studies, analyses and learning materials for the benefit/use of the IFC Africa microfinance and CASA programs (internally) as well as for microfinance providers (externally).

? Undertaking other activities as agreed by the supervisor(s) representing the IFC Africa microfinance and/or CASA programs.

Deliverables

The Consultant’s key deliverables include:

1. Structuring, negotiating and processing at least one CASA-eligible AS project to implementation (i.e. AS Plan approved).

2. Analyzing the microfinance market and developing the AS Concept Note for at least one CASA-eligible AS project, possibly Sao Tome & Principe, Burundi or Zimbabwe.

3. Conducting/producing at least one market feasibility study, to ascertain what microfinance projects IFC can support in that market.

The format for all key deliverables will be agreed in advance by the consultant and the relevant supervisor(s).

Resources:

The consultant will be provided with all materials required to complete the consultancy, including a computer, telecommunications access and travel expenses.

Qualifications

? At least 5 years professional experience in microfinance, of which some in SSA
? Good understanding of operational issues and international best practices in microfinance
? Demonstrable track record of delivering high-quality microfinance analyses and proposals
? Good analytical and writing skills, which may be verified during the application process
? Fluency in English and French or Portuguese (fluency in all three a plus)
? Currently based in a Sub-Saharan African country, with requisite work permits.
? Working experience in conflict-affected countries will be considered as a plus
? Relevant academic qualifications at post-graduate level (e.g. finance, economics)


To apply for this position, please send a short cover letter and a two-page CV to:

Thandiwe Zulu, tzulu@ifc.org