1.0 About Impact Investing Ghana
Impact Investing Ghana (IIGh) is the Ghana National Advisory Board for Impact Investing. We are an independent ,private-sector-led initiative promoting sustainable development and advancing the development of the impact investment ecosystem in Ghana. Established as a nonprofit, IIGh is Ghana’s representative to the Global Steering Group (GSG) for Impact Investing, the successor to the Social Impact Investment Taskforce established by the G8. The GSG’s National Advisory Boards (NABs) currently cover 33 countries and provide a global platform to drive investment and increase visibility for its members globally. IIGh aims at tackling Ghana’s pressing social and environmental challenges by driving more capital to deliver real impact.
We are a local platform representing all the stakeholder groups needed to redirect significant capital flows toward social and environmental impact. Private-sector-led, yet in close partnership with the national government, we raise awareness, create market intelligence, change policies, and mobilise additional financial resources for the public good. IIGh brings together leaders from the worlds of finance, business, government, social organisations, and philanthropy. IIGh has an ambitious plan to support the growth of impact ventures and to catalyze $1 billion in impact funds for investment in impact ventures in Ghana and the West African sub-region.
2.0 Background: SCALE Quality Improvement Project for ESOs in Ghana
The need for this project arises from the challenges faced by SMEs in Ghana, as outlined in the Catalytic Capital Investment report. SMES play a crucial role in Ghana’s economy, contributing significantly to employment and GDP. However, they face numerous challenges, including limited access to finance, lack of business development services, and inadequate capacity to scale their operations. In response to these challenges, ESOs in Ghana have been working to provide support to SMEs. However, the effectiveness of these ESOs has been limited due to a lack of quality improvement tools that can enhance their service delivery.
In 2022, ESOs in Ghana participated in the Ghana ESO forum 2022, where they assessed several tools and agreed on the SCALE Quality Improvement tool as the most effective for the Ghanaian ecosystem. This tool, developed by Argidius Foundation to identify what works best in ESOs and Business Development Services (BDS) to enable Small and Growing Businesses (SGBs) to grow and create employment, focuses on five key considerations (SCALE): Select the right enterprise, Charging for services, Addressing problems through problem-solving, Learning by evaluating enterprise performance, and leading by example. SCALE has been designed as a package that helps any ESO to redesign their programming and enhance their operational efficiency. Read more here.
- Objectives of the Assignment
The main objective of this assignment is to design a user-friendly, context-sensitive, and scalable Impact Measurement and Management Framework that enables the ESO Collaborative to:
- Measure the effectiveness and outcomes of the SCALE Program.
- Monitor sector-specific and cross-sectoral impact.
- Evaluate the value added by ESOs to the entrepreneurial ecosystem.
- Support learning, adaptive management, and evidence-based advocacy.
- Standardize impact metrics for comparability across institutions and programs.
- Scope of Work
The selected consultant or firm will be expected to:
- Conduct a Situational Assessment
○ Review existing impact measurement and management practices among ESOs.
○ Analyze current data flows, tools, and methodologies in use.
○ Engage stakeholders through interviews, workshops, and surveys to understand the nuances and essence of impact measurement to the ecosystem.
- Define and Develop the Framework
○ Based on the situational assessment, define and outline the depth and scope of the impact framework including key impact areas, indicators, and success metrics.
○ Identify, set and define quantitative and qualitative metrics aligned with global best practices with gender, youth, inclusivity and sustainability lenses.
○ Propose sector-specific dimensions and indicators (e.g., agritech, fintech, manufacturing, health, education).
- Design Tools & Templates
○ Create tools for real-time data collection and reporting templates. ○ Propose a digital tracking/reporting mechanism (dashboard or online interface).
- Validation and Testing
○ Pilot the framework with selected ESOs.
○ Refine the framework based on feedback and learning.
- Capacity Building
○ Facilitate at least one training session for ESO Collaborative members on the use of the Impact Measurement and Management Framework. ○ Provide user manuals and framework documentation.
- Final Report
Deliver a comprehensive narrative report including a Monitoring, Evaluation, Accountability and Learning (MEAL) plan to guide the operationalization of the IMM Framework and make a presentation.
- Expected Deliverables
- Inception Report (including stakeholder engagement plan)
- Draft Impact Measurement Framework
- Data Collection & Reporting Tools
- Validation Report & Feedback Log
- Training Materials & User Guide
- Final Framework and Implementation Plan
- Executive Summary and Presentation Slides
- Duration and Timeline
The assignment is expected to commence in May, 2025 and be completed within 8 weeks of contract signing. A detailed work plan with milestones must be included in the proposal.
- Eligibility and Qualifications
The successful bidder (individual or firm) must demonstrate:
- Proven expertise in Monitoring, Evaluation, and Learning (MEL), particularly in impact measurement.
- Experience working with ESOs, entrepreneurship programs, or development sector initiatives.
- Familiarity with inclusive innovation, private sector development, or SME ecosystems.
- Demonstrated ability to design context-relevant, practical frameworks. ● Strong facilitation and stakeholder engagement skills.
- Proposal Requirements
Interested applicants should submit the following:
- Technical Proposal
○ Understanding of the assignment
○ Proposed methodology and approach
○ Work plan and timeline
○ Team composition and CVs of key personnel
○ Relevant past experience and case studies
- Financial Proposal
○ Detailed cost breakdown (in USD or GHS)
○ Any applicable taxes
○ Payment schedule tied to deliverables
- Annexes
○ Company profile (for firms)
○ At least 2 references from similar assignments
9. Evaluation Criteria
Proposals will be assessed based on:
| Criteria | Weight (%) |
| Understanding of the assignment | 20% |
| Methodology and innovation | 25% |
| Relevant experience and
qualifications |
25% |
| Financial competitiveness | 20% |
| Quality of proposal and
presentation |
10% |
- 10. Submission Guideline
- All responses to this Request for Proposal are due by 20th May 2025 at 5PM GMT.
Please email your response to info@impactinvestinggh.org and copy doris.mensah@impactinvestinggh.org , daniel.owusu@impactinvestinggh.org and label the email – RFP Consultant- SCALE Impact Measurement Framework
Contact Information
For any inquiries, contact:
ESO Collaborative Secretariat
Email: daniel.owusu@impactinvestinggh.org
Confidentiality
All information provided in response to this RFP will be treated as confidential and used solely for the purposes of proposal evaluation and contract award.