22nd July 2024

info@africanews24.info

Standard Lesotho Bank offers clients M11 million in cashback rewards
Standard Lesotho Bank offers clients M11 million in cashback rewards
22nd July 2024

Search

Standard Lesotho Bank launches groundbreaking M11 million cashback rewards for loyal customers footer

Advertisement

Kingdom of Lesotho: Competitiveness and Financial Inclusion Project expression of interest

Standard Lesotho Bank launches groundbreaking M11 million cashback rewards for loyal customers footer
Standard Lesotho Bank launches groundbreaking M11 million cashback rewards for loyal customers footer
Country: Lesotho
Project Name: Competitiveness and Financial Inclusion Project
Credit No. : 7169-LS
Assignment Title: Entrepreneurship Support Organizations (ESO) for Incubation Support Services Reference No.


Introduction
COMPETITIVENESS AND FINANCIAL INCLUSION PROJECT
REQUEST FOR EXPRESSIONS OF INTEREST (CONSULTING SERVICES-FIRM SELECTION)



The Government of Lesotho, through the World Bank-financed Competitiveness and Financial Inclusion (CAFI) Project, intends to support the establishment of the Lesotho Entrepreneurship Hub and Seed Financing Facility, with the objective of offer business support services, entrepreneurship training, and access to seed capital for emerging Basotho entrepreneurs.


The objective of this subcomponent of the CAFI Project is to support the establishment of a sustainable entrepreneurship ecosystem that will provide integrated support to startups and innovative SMEs (collectively 3. termed enterprises) based in Lesotho. As part of this initiative, CAFI is seeking Expressions of Interest from Local based Entrepreneurship Support Organizations (ESOS) to provide incubation support services to cohorts of 10 start-ups, in 6-month long incubation cycles, for as few as 4. 2 and as many as 10 cohorts over the next 5 years.

Scope of Work
Selected ESOS will be inducted into a capacity development program, where ultimately the competent ESOS will be certified. Once certified and affiliated with the Entrepreneurship Hub, they will steward cohorts of 10 start-ups through much needed resources that help develop their investment readiness, using a standard battery of technical support. ESOS will determine the nature of support start-ups require and monitor the progress they are making. They will maintain rapport with clients, mentors, support staff, and administration as needed to carry out incubation responsibilities in a professional manner on behalf of the Entrepreneurship Hub.
ESOS admitted to the programme will be responsible to monitor entrepreneurs’ progress, prioritize support needed, and provide them with assistance in resolving any difficulties or complex problems. They will determine the scope of support program offerings, and prepare program schedules and descriptions, to support grant funding allocations and facility access requirements. ESOS will be expected to coordinate with Hub management to help ensure entrepreneurs receive high standard services, and act as liaison between public and private sectors in application and implementation of business development programs. ESOS will be expected to establish local advisory committees and mentoring relationships between advisory committee and client companies as clients require.
ESOS will be expected to cross-promote and coordinate larger Hub programmatic opportunities and implement policies, procedures, and service standards to remain in good standing with the Hub to qualify for future cycles of financial support.
The detailed Terms of Reference (TOR) for the assignment can be obtained at the e-mail addresses given below.
Submission Requirements
Interested ESOS should submit their expressions of interest to the CAFI Project through the following guidelines:
1. Cover letter: A one-page cover letter that summarizes the organization’s experience in providing business incubation services and how it aligns with the Entrepreneurship Hub and Seed Financing Facility initiative’s objectives.
2. Proposal: A proposal that outlines how the organization plans to meet the requirements of the initiative, including how it plans to provide incubation services to cohorts of 10 start-ups in 6-month cycles, its approach to entrepreneur assessment and development assistance, and how it plans to coordinate with the Hub management. The proposal should also include a description of the organization’s experience in providing similar services, including the number of entrepreneurs supported, success stories, and any challenges encountered.
3. Team: A description of the organization’s team, including qualifications, experience, and areas of expertise, particularly in business and management principles, training and coaching. and customer service.
4. References: A list of at least three references from previous clients, funders, or partners who can speak to the organization’s ability to provide business incubation services.


Expressions of interest must be delivered in a written form, in sealed envelopes labelled “Expression of Interest for Entrepreneurship Support Organizations” with the name of the firm on the reverse side of the envelope, to the address below in person or by mail on the 8th December 2023 at 16h30. Submissions can also be sent to entrephub@ cafi.org.ls with a copy to rrapakeng@cafi.org.ls as a single attachment.


The Project Manager
Competitiveness and Financial Inclusion Project 1st Floor ‘Matanki House P.O. Box 747,
Maseru 100 Lesotho
Tel.: (+266) 22 315 100


Once expressions of interest are received, the CAFI Project will review and shortlist qualified ESOS for further evaluation. Shortlisted ESOS may be invited to participate in an interview, site visit, or other assessment activities to further evaluate their capacity to provide the required services. The attention of interested ESOS is drawn to Section III, paragraphs 3.14, 3.16, and 3.17 of the World Bank’s “Procurement Regulations for IPF Borrowers” November 2020 (“Procurement Regulations”), setting forth the World Bank’s policy on conflict of interest (paragraph 3.17 of the Procurement Regulations).

The ESO will be selected in accordance with the Consultants Qualification Selection (CQS) method set out in the Consultant Guidelines.

Qualified women and youth owned/managed ESOS are highly encouraged to send their expressions of interest.


Further information can be obtained at the address above during office hours [08h00 to 16h30 hours local time].


Thank you for your interest in the Entrepreneurship Hub and Seed Financing Facility initiative. We look forward to receiving your expression of interest.


NB: Only short listed ESOs will be contacted.

Facebook
Twitter
LinkedIn
Telegram
WhatsApp
Standard Lesotho Bank launches groundbreaking M11 million cashback rewards for loyal customers footer
Standard Lesotho Bank launches groundbreaking M11 million cashback rewards for loyal customers footer

Search

Standard Lesotho Bank launches groundbreaking M11 million cashback rewards for loyal customers footer

Advertisement