UNCDF/IBSA Sierra Leone FinTech Trouble 2019-2020 for Financial Addition

0
133

Due Date: Might 30,2019

Applications are open for the UNCDF/IBSA Sierra Leone FinTech Trouble 2019-2020 The Bank of Sierra Leone in cooperation with the United Nations Capital Improvement Fund and IBSA Fund are launching the barrier, under the design of “Domestic resource mobilization”, to more help the financial addition of the middle and low-income population.
The Sierra Leone FinTech Trouble 2019-2020, has the basic goal of improving Sierra Leone’s domestic resource mobilization and the monetary health of Sierra Leoneans living in rural and underserved places. It means to harness the growing digital economy in order to develop and examine innovative choices as a technique to leapfrog access to fund, and consequently construct out federal government and financial sector platforms to operationalize the benefits of the digital economy.
Benefits.
The Bank of Sierra Leone will provide 2 finalists access to the Regulative Sandbox– a safe location for unchecked financial sector advancements to grow under the help of the Bank of Sierra Leone workers and other experts.
Eligibility.
To be thought of for the help, companies need to fulfill the following minimum requirements:.

Requirements to be running in Sierra Leone or have a partner who is running in Sierra Leone. International or regional entities not based in Sierra Leone may utilize provided that their work directly benefits a figured out Sierra Leonean partner;(**************)
Requirements to be companies with experience in offering or supporting some aspect of mobile financial services, including: banks, other banks, mobile network operators and Fintech.
The product, service or alternative require to be performed in Sierra Leone;(**************)
The product, service or alternative can have a financial nature, nevertheless a help service to a financial service provider will similarly be enabled;(**************)
The product, service or alternative require to be network operator agnostic;(**************)
For Sierra Leone-based business: The lead prospect requirement to have actually a registered service in Sierra Leone with a minimum of 15% ownership by an individual of Sierra Leone; For non-Sierra Leonean Fintechs from advancement centers, this requirement does not utilize at the start of the rivals;(**************)
The lead prospect requirement to have a sound track record of performance of a minimum of one year; and.
The lead prospect requirement to be a for-profit entity or enter into a chain of for-profit companies;(**************)
Organizations that are bulk owned by federal government or its companies, in addition to not-for profits will not be certified.
Requirements to be accredited with all appropriate statutory and regulative requirements of Sierra Leone with regard to the proposed activities or in the treatment of obtaining compliance.
Requirements to have total documented help from the management and governing body for the proposed job, as evidenced by a letter of help from senior management.
Requirements to have enough financial systems in place to deal with external help as revealed by using audited or certified financial statements.

Application.

To utilize, please download the Expression of Interest and Lean Canvas Kinds.
The EOI needs to include:.

Application Cover Sheet (used).
Around one-page description of the company (goal, location, present, activities and/or products, consumers).
Maximum five-page description of proposed use of funds (please do not include a total proposal at this stage of the treatment).
A letter from senior management, preferably the CEO and/or Board Chairman, defining their help for this application and acknowledgment of the commitment to using the required resources for its success.
Lean canvas kind (Annex 1).
Annexes may be included.
Monetary statements are recommended; however they will simply be required from short-listed companies and need not be sent out by companies at this stage of the treatment.

For extra info, go to Sierra Leone FinTech Trouble.