Impact Investing Ghana and the Enterprise Support Organisation is looking for a Consultant for the Co-creation and Structuring of Enterprise Support Organizations (ESO) Pre-Seed Fund and ESO Grant Facility.
Scope of Work
● Co-creation of the Fund: Collaborate with ESO experts and stakeholders to design a sustainable pool of funds aimed at incentivizing best practices among ESOs.
● Fund Structuring: Develop the structural framework for both the pre-seed fund and the ESO pipeline-building grant fund, ensuring alignment with the fund’s goals and objectives.
● Fundraising Strategy: Formulate and execute a strategic fundraising plan to secure financial commitments from donors, catalytic capital providers, and development finance institutions.
2.0 Terms of Reference (TOR) for the Consultancy of Co-creation, Structuring, and Fundraising of the Enterprise Support Organizations (ESO) Pooled Fund
Enterprise Support Organizations (ESOs) are instrumental in fostering the growth and development of businesses, particularly small and medium-sized enterprises (SMEs), within Ghana. Despite their critical role, ESOs encounter numerous challenges, including constrained access to funding, limited capacity building, inconsistent quality of support, and inadequate collaboration among stakeholders. These challenges necessitate a sustainable funding mechanism to bolster ESOs’ own capacity, promote collaboration, and facilitate access to pre-seed and transaction advisory financing for high-growth potential startups.
The “Unlocking Private Sector Capital for Profit and Impact, 2022” report by Impact Investing Ghana (IIGh) alongside insights from the Ghana ESO Forum, 2022, highlights these challenges. In response, IIGh, in collaboration with development partners and the ESO Collaborative, seeks to establish the ESO Pooled Fund. This fund aims to provide a sustainable financing solution for ESOs and their supported early-stage businesses, promoting long-term operational and strategic support across strategic thematic social impact areas.
3.0 Project Objectives:
- Sustainable Financing: Establish a funding mechanism for ESOs and investment-ready businesses, ensuring consistent financial resources to support SME growth.
- Strengthening ESO Capacity: Enhance the operational and strategic capacity of ESOs to deliver high-quality services and support.
- Promotion of Collaboration: Foster a cohesive ecosystem through the creation of a knowledge and information platform, facilitating resource sharing and best practice exchange.
- Incentivization of Quality Programs: Implement incentives for ESOs to deliver impactful programs that scale profitable and sustainable businesses.
4.0 Scope of work
The consultant will be responsible for the following:
- Co-creation of the Fund: Collaborate with ESO experts and stakeholders to design a sustainable pool of funds aimed at incentivizing best practices among ESOs.
- Fund Structuring: Develop the structural framework for both the pre-seed fund and the ESO pipeline-building grant fund, ensuring alignment with the fund’s goals and objectives.
- Fundraising Strategy: Formulate and execute a strategic fundraising plan to secure financial commitments from donors, catalytic capital providers, and development finance institutions.
4.1 Deliverables:
- A detailed design and structure for the ESO Pre-Seed Fund and Grant Facility to enable it to achieve its ecosystem building and revenue target.
- Presentation of the design to stakeholders including potential funders at roundtables for inputs.
- Final report summarizing the consultancy’s outcomes, and recommendations for future activities.
5.0 Experience
- Proven expertise in fund design, structuring, and fundraising within the context of SME support and development finance.
- Strong understanding of the ESO ecosystem in Ghana and experience working with SMEs and ESOs.
- Strong warm relationships with foundations and development organizations active in the region.
- Demonstrated ability to engage effectively with a wide range of stakeholders, including government, private sector, foundations and development organizations.
- Excellent communication skills in English and local Ghanaian languages.
6.0 Timeline
- Proposal Submission Deadline: Friday, 26th April 2024
- Consultant Selection and Notification: 30th April 2024
- Project Initiation: May 2024
- Project Duration: May 2024 to October 2024 (6 months)
7.0 Submission Requirements
Interested consultants are requested to submit a proposal that includes:
- A detailed quotation for consultancy services.
- A work plan outlining the methodology, timeline, and key milestones.
- A CV and profile strongly highlighting relevant experience (Experience designing for foundations and development organizations active in Ghana, is highly desired).
8.0 Submission Instructions
Proposals should be submitted electronically before or on Thursday, 26th April 2024 by midnight deadline to info@impactinvestinggh.org, and copy mohammed.zakaria@impactinvestinggh.org
The subject line of the email should read “Consultancy Proposal for ESO Pooled Fund Co-creation and Structuring.”
For inquiries or further clarification, please contact Mohammed Suhuyini Zakaria via email: mohammed.zakaria@impactinvestinggh.org
Click here to download the full RFQ