Consultancy – Design and Establishment of a Revolving Fund Kenya

Terms of Reference

The Consultant should have demonstrated experience in designing, establishing, and strengthening revolving fund models, particularly for community-based groups in rural areas. The consultant should possess strong knowledge of financial inclusion approaches, revolving fund governance structures, lending policies, loan management systems, and risk mitigation strategies.

The consultant should have proven experience in developing operational manuals, policies and procedures, monitoring frameworks, and capacity-building frameworks for revolving funds and similar financial inclusion models. Experience working with self-help groups (SHGs), savings and credit groups, cooperatives, or similar community financial models is highly desirable.

The consultant should have excellent facilitation, analytical, and writing skills, with the ability to engage a wide range of stakeholders, including community groups, private sector partners and program teams. They should be able to provide practical recommendations, build the capacity of program staff and community structures, and support the establishment of a sustainable revolving fund model that aligns with the program’s objectives and the local context.

About the Program 

Rural women often remain unbanked and financially excluded because they lack stable income, collateral, credit history, and formal documentation typically required by traditional financial institutions. This locks many of these women out of formal financial systems and limits their access to credit, savings, and opportunities for business growth.

The Her Financial Freedom Programme (HFFP) is Global Give Back Circle’s integrated economic empowerment framework designed to support rural women in West Pokot and Kajiado Counties to transition from vulnerability and subsistence livelihoods to sustainable income generation, financial independence, enterprise ownership, and community leadership.

HFFP is grounded in the understanding that financial freedom is not achieved through access to finance alone. Women require a combination of knowledge, skills, confidence, peer support, financial services, collective enterprise structures, and market opportunities. The program therefore delivers a holistic ecosystem that integrates capacity building, financial inclusion, enterprise development, and market access to drive long-term economic transformation.

HFFP focuses on strengthening the financial inclusion of women of all ages through three main objectives:

1. To increase access to affordable finance for rural women through a revolving fund.
2. To promote savings and financial resilience among rural women through Self-Help Groups (SHGs).
3. To strengthen financial literacy, behavior change, and entrepreneurship skills for rural women.

HFFP intends to establish a revolving fund to improve access to affordable finance for rural women in Kajiado County, while also generating insights to inform the development of a similar model in West Pokot County. Global Give Back Circle therefore seeks to engage an experienced consultant to design the revolving fund, develop the required governance and operational systems, build the capacity of program staff to support the initial operationalization of the fund

Objectives of the Consultancy

 The consultant will support Global Give Back Circle and its partners to:

1. Design a sustainable revolving fund model that aligns with the program’s objectives and the needs of participating SHGs at project sites.
2. Develop the governance structures, policies, and operational procedures required for effective management of the revolving fund.
3. Design loan products and establish lending policies, eligibility criteria, approval processes, repayment mechanisms, and risk management procedures.
4. Develop financial management, monitoring, and reporting systems to ensure transparency, accountability, and effective fund management.
5. Assess, recommend and set-up appropriate digital solutions and technologies for managing loan applications, repayments, record-keeping, reporting, and performance monitoring.
6. Build the capacity of program staff, governance committees, and participating SHGs to effectively manage and operate the revolving fund.
7. Support the establishment and operationalization of the revolving fund, including piloting the systems and providing recommendations for long-term sustainability.

Deliverables

Deliverable 1: Revolving Fund Design and Implementation Plan

• Conduct a desk review of existing program documents and program structures relevant to the revolving fund.
• Facilitate consultations with key stakeholders and target participants to inform the fund design.
• Develop a comprehensive revolving fund design document outlining the fund model, operating principles, implementation approach, and sustainability strategy.
• Prepare a detailed implementation roadmap and work plan for establishing and operationalizing the revolving fund for 2 years.

Deliverable 2: Governance and Operational Framework Development

• A governance structure for the revolving fund, including roles and responsibilities within partner organizations
• Terms of reference for the revolving fund management committee and other governance bodies.
• An operations manual integrating into other program standard operating procedures.
• Financial management policies and procedures.
• Internal control and accountability mechanisms.
• Risk management and fraud prevention framework.
• Monitoring, reporting, and accountability

Deliverable 3: Loan Products and Lending Framework

• Loan eligibility criteria for participating SHGs.
• Loan products tailored to the needs of the target SHGs.
• Loan limits, repayment periods, grace periods, and lending conditions.
• Loan security and guarantee requirements, where applicable.
• Loan renewal and repeat borrowing criteria.
• Procedures for managing late repayments, loan restructuring, and defaults.
• Loan application and approval forms and supporting documentation.
• Loan portfolio management and performance monitoring tools.
• Default management recovery procedures.
• A loan risk mitigation framework, including recommendations for insurance products
• Loan pricing methodology, including recommended interest rates and service charges.

Deliverable 4: Recommend Appropriate Financial and Loan Management Systems

• Assess and recommend the operational and financial systems required for the day-to-day management of the Revolving Fund.
• Define roles and responsibilities for fund administration and system management.
• Recommend the most appropriate digital loan management and record-keeping system, including suitable technology platforms.
• Develop financial reporting templates and management dashboards to support effective fund oversight and decision-making.

Deliverable 5: Capacity Building and Training on Revolving Fund Management

• Conduct capacity needs assessment for implementing partner staff members and governance committees
• Develop a comprehensive capacity-building plan for revolving fund management.
• Train implementing partner staff and designated governance committees on fund management, financial oversight, and reporting.
• Guide partners in the training of SHG leaders on loan management, financial literacy, governance, and compliance with revolving fund procedures.
• Provide recommendations for ongoing technical support.

Deliverable 6: Operationalization, Pilot and Handover

• Support the establishment of governance committees and operational structures.
• Finalize and test all operational systems and documentation.
• Support the launch of the revolving fund
• Develop a monitoring and sustainability plan for the revolving fund.
• Support the key officer within the organization to provide technical support throughout a Three-month pilot, including guidance on loan application, appraisal, approval, disbursement, and repayment processes.

The consultant will submit an Inception Report and a Revolving Fund Strategy covering:

• Revolving Fund Design Document
• Revolving Fund Policy Manual
• Governance Framework
• Operations Manual
• Loan Policy and Procedures Manual
• Financial Management Manual
• Risk Management Framework
• Monitoring and Reporting Framework
• Training Manual and Training Materials
• Final Consultancy Report
• Other relevant aspects

Reporting: The consultant will report to the Chief of Programs through the Entrepreneurship Lead. The consultant will work closely with implementing partner staff and other program stakeholders throughout the assignment.

Qualifications and Experience

The ideal consultant should demonstrate high integrity, professionalism, and the ability to work independently while engaging effectively with diverse stakeholders. They should possess strong analytical, facilitation, and problem-solving skills, with demonstrated expertise in designing and implementing revolving fund models and community-based financial inclusion programs. The consultant should meet the following qualifications and demonstrate the relevant experience outlined below.

• Bachelor’s degree in finance, Economics, Business Administration, Cooperative Management, Development Studies, Accounting, or a related field. A Master’s degree is an added advantage.
• A minimum of seven (7) years’ experience designing and establishing revolving funds, microfinance programs, savings groups, SACCOs, or other financial inclusion initiatives.
• Demonstrated experience working with NGOs, development partners, or donor-funded programs, particularly those focused on livelihoods, women’s economic empowerment, or enterprise development.
• Proven experience developing revolving fund governance structures, operational manuals, policies, standard operating procedures, lending frameworks, and financial management systems.
• Strong understanding of community-based finance, Self-Help Groups (SHGs), Village Savings and Loan Associations (VSLAs), cooperatives, and enterprise development models.
• Experience designing loan products, eligibility criteria, loan appraisal systems, repayment mechanisms, and portfolio management frameworks.
• Experience identifying or implementing digital solutions for loan management, financial reporting, and record-keeping is an added advantage.
• Demonstrated experience in capacity building, including developing training materials and facilitating training for staff, community groups, and governance committees.
• Excellent analytical, report-writing, presentation, and stakeholder engagement skills.
• Excellent interpersonal and communication skills, with the ability to work collaboratively with program teams, implementing partners, government agencies, and community stakeholders.
• High level of integrity, professionalism, and commitment to financial accountability and ethical standards.
• Proficiency in Microsoft Office applications, particularly Word, Excel, and PowerPoint.
• Willingness and ability to travel within the program areas as required.

Application Information

Candidates must submit a technical proposal (max 8 pages) and a financial proposal to jackline.chepkoech@globalgivebackcircle.org by 13^th August 2026 5pm EAT. The technical proposal should outline their understanding of the assignment, execution plan, detailed work plan and team expertise. Please include examples of work that demonstrate your experience relevant to this role. The financial proposal activities, days and professional fees. Other related costs like travel and accommodation will be supported directly by the organization.

Evaluation Criteria

Proposals will be evaluated based on:

• Technical Compliance (40%) – Adherence to technical specifications
• Experience & References (20%) – Previous similar projects, proven capacity.
• Cost Competitiveness (30%) – Pricing compared to budget and value for money.
• Delivery Timeline (10%) – Feasibility of work schedule and completion date.

The program is under obligation to accept any proposal and reserves the right to cancel, amend, or modify the procurement process at any time.

Global Give Back Circle is firmly committed to safeguarding all those we seek to serve and to the highest standards of ethics and professionalism. Thorough background checks will be conducted for all final candidates.