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

Request for Expressions of Interest. Project: Somalia Productive, Resilient and Inclusive Growth (SPRING) Project. Project ID: P501662. Reference No.: SO-MOF-555945-CS-CQS. Method: Consultant Qualification Selection. Federal Government of Somalia Ministry of Finance Request for Expressions of Interest (REOI) Country: Federal Government of Somalia (FGS) Project Name: Somalia Productive, Resilient and Inclusive Growth Project (SPRING), Assignment Title: Development of the National Financial Inclusion Strategy for Somalia 2027–2031 Project ID: P501662 Deadline for Submission of Expressions of Interest: September 5, 2026, at 4:00 PM Individual/Firm: Firm Selection Reference 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 improve the business environment, strengthen the financial system, and enhance access to finance to foster private sector-led growth and employment creation. 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) improving 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 activities include improving the regulatory and institutional framework, promoting a national digital identification system, financial sector reforms, establishing risk-sharing mechanisms, and providing 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, of which US$10 million is 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 use part of the funds to support the Central Bank of Somalia in developing Somalia's first National Financial Inclusion Strategy for 2027–2031. 2. Responsibilities: The objective of this assignment is to develop a comprehensive, evidence-based, and gender-responsive NFIS (2027-2031) for Somalia to expand access to and usage of formal financial products and services, including a detailed costed action plan, institutional and governance framework, comprehensive SMART targets and MEL framework, communication and stakeholder engagement strategy, and a knowledge transfer and capacity building plan for the CBS NFIS team. All other specific tasks of the assignment are detailed in the Terms of Reference (TOR), available at the following 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 emphasis on 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 countries. 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 in providing relevant services in similar environments to Somalia, and the technical and organizational management of the firm (only organizational structure). Do not provide CVs of key experts. Key experts will not be evaluated at the shortlisting stage. 5. Interested Consultants should refer to paragraphs 3.14, 3.16, and 3.17 of Section III of the World Bank's Procurement Regulations for IPF Borrowers (September 2023 edition) (“Procurement Regulations”), which set forth the World Bank's policy on conflict of interest. 6. Consultants may associate with other firms to enhance their qualifications, but should clearly indicate whether the association is in the form of a joint venture and/or a subcontracting consultancy. In the case of a joint venture, if selected, all partners in the joint venture shall be jointly and severally liable for the entire contract. 7. Consultants will be selected in accordance with the Consultant Qualification Selection (CQS) method set out in the Procurement Regulations. 8. Interested Consultants may obtain further information at the address below during office hours (Saturday to Thursday from 8:00 AM to 4:00 PM, except public holidays) (in person or by email). 9. Submission Deadline: Expressions of Interest must be delivered in writing to the address below (in person or by email) by September 5, 2026, at 4:00 PM. Attention: SPRING Project Coordinator Ministry of Finance Federal Government of Somalia Shangani