FSD Africa is seeking the services of a consultant or consulting firm to conduct targeted research, market engagement, and consultations to design specific de-risking interventions, build a strong local partner ecosystem, and validate priority areas for investment. The selected countries are South Africa, Nigeria, Kenya, Zambia, Ghana, Namibia, Mauritius, Rwanda, Morocco, and Uganda. The consultant will work closely with FSD Africa’s Principal, Adaptation & Resilience. The project will be implemented under an 8-month consultancy contract, aligned with the deliverables and workplan outlined below.

Background

Financial Sector Deepening Africa (FSD Africa) is a specialist development agency working to reduce poverty by strengthening financial markets across sub-Saharan Africa. Based in Nairobi, FSD Africa’s team of financial sector experts work alongside governments, business leaders, regulators, and policy makers to design and build ambitious programmes that make financial markets work better for everyone. Established in 2012, FSD Africa is incorporated as a non-profit company limited by guarantee in Kenya and is funded by UK aid from the UK government.

Objectives and Scope

The overall objective of this assignment is to design innovative investment solutions and de-risking instruments that mobilise African insurance capital into climate-resilient and green sectors. Specifically, the consultancy will:

• Conduct research and stakeholder engagement to assess appetite, barriers, and opportunities for insurers’ participation in green finance.
• Develop tailored de-risking instruments that mitigate barriers and unlock insurance capital for priority sectors.
• Produce an implementation roadmap for scaling the mobilisation of insurance capital into sustainable investments.

Scope of Work

The consultant(s) will undertake the following activities:

Phase I: Research, Analysis, and Stakeholder Engagement

• Conduct secondary research and data analysis on investor landscape, pipeline readiness, and barriers to investment.
• Engage insurers, regulators, DFIs, project developers, and other institutional investors through interviews, focus groups, and surveys.
• Map green project pipelines across selected countries.
• Develop a risk matrix highlighting project-level and systemic risks relevant to insurers.
• Organise workshops/webinars to disseminate findings and secure stakeholder buy-in.

Phase II: Design of De-risking Instrument

• Develop and assess de-risking options (e.g., guarantees, blended finance vehicles, risk-sharing mechanisms).
• Undertake scenario testing and financial modelling to assess commercial viability and scalability.
• Produce a feasibility study and detailed instrument design options (governance, operational model, strategic focus).
• Develop a tailored risk taxonomy for climate and green investments for insurers.
• Draft an implementation roadmap outlining sequencing, pilot design, and pathways to scale.
• Develop a stakeholder engagement strategy to secure buy-in from insurers, regulators, and DFIs.

Deliverables

The deliverables under this contract are as follows:

Inception Report

• Outline the approach, methodology, and work plan.

Phase I Deliverables

• Consolidated report on investor landscape, pipeline readiness, and barriers.
• Interview/engagement database and stakeholder consultation notes.
• Risk matrix for insurance participation in green projects.
• Workshop/webinar proceedings and consensus reports.

Phase II Deliverables

• Feasibility study on design options.
• Detailed instrument design report (governance, operational, strategic model).
• Risk taxonomy tailored to insurers and institutional investors.
• Implementation roadmap for pilot and scaling.

Invitation to Tender

FSD Africa invites proposals from suitably qualified consultants. Your proposal should include:

• CV of the consultants (not exceeding 3 pages).
• A summary of your experience in providing the kind of technical support outlined in these Terms of Reference.
• A description of your understanding of the role and a workplan highlighting how you intend to fulfil the services within the suggested timeline.
• Samples of similar work and testimonials from previous clients and/or employers.
• An estimated budget for both professional fees and reimbursable expenses (see Annex 1).

FSD Africa is deliberate in its contribution towards the SDGs. We encourage suppliers to consider including team members living with disabilities. In our efforts to promote financial inclusion in Africa, we also encourage suppliers to propose/include personnel based in Africa in your diverse teams.

Submitted proposals should not exceed 10 pages (excluding annexures). The review will be based on the main proposal. Please send your submission by email to [email protected] by noon (EAT) on 15th October 2025, under the subject line: ‘Invitation to tender: Mobilizing Insurance Capital for Africa’s Green Assets – Designing New Investment Products and Structures’.

Applications received after the deadline will not be considered.

Important Notice

For full details on the consultancy scope, requirements, and application guidelines, please visit the FSD Africa Tenders Page via the application link.

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