Design and Delivery Sprint: Alternative Models for Enterprise Finance in Zimbabwe
This page provides a useful summary and the latest news in relation to FSD Africa’s ‘Design and Delivery Sprint’ in Zimbabwe.
This is the first step in FSD Africa’s increasing commitment to inclusive financial sector development in Zimbabwe.
What is the Design and Delivery Sprint?
FSD Africa – a UK Aid agency for financial sector development in Africa – will launch a competition to identify the brightest and best enterprise finance solutions in Zimbabwe. The competition aims to build capacity, restore confidence and drive much needed capital flows to Zimbabwe’s entrepreneurs and growing companies.
In Round 1, the three most promising concepts will each receive up to £10,000 to strengthen the design and test the business case. This seed capital will be used to test the product, service or solution; buy in technical expertise and strengthen the business case. The Round 1 application form can be found below.
In Round 2, up to two winning proposals will then be selected to pitch their concepts to the FSD Africa Investment Committee for up to £500,000 of investment. If approval is given, independent due diligence will begin. If funding is awarded, the project will move to pilot testing and/or scale up.
Who Can Apply?
Please review the briefing note below for full eligibility and assessment criteria.
How Will The Judging Process Work?
Round One applications will be judged by Panel A. Panel A will comprise three technical experts, and one consumer (MSME) representative.
Round Two applications will be judged by Panel A and Panel B. Panel B will comprise three consumer (MSME) representatives.
Upcoming Events and Deadlines
There are two immediate dates on the horizon.
- Market Engagement Event – 14 June (0715-0900). FSD Africa and its partners invite key decision makers at financial service providers to join us at Cresta Lodge Hotel, Harare for a breakfast market engagement event. At this meeting, FSD Africa, Reserve Bank of Zimbabwe, DFID Zimbabwe and the SME Association of Zimbabwe will be on hand to explain more and to answer questions.
- Round One Application Deadline – 11 August (1700 CAT). Round One Application Forms must be submitted to: ‘firstname.lastname@example.org‘ with the subject line: ‘Zimbabwe Design and Delivery Sprint Application’ for assessment by judging Panel A. Please find Round One Application Forms below.
At present, there are three key documents that underpin this project.
- Briefing Note. A more detailed description of the project, highlighting why FSD Africa will use a competition mechanism, how it will work, and why it will focus on enterprise credit. It also provides useful details on expected timings and the application process.
- Round One Application Form. An unlocked MS Word document template. This is designed for Round 1 applicants to complete and submit to FSD Africa for assessment. It should take no longer than two hours to complete.
- Market Engagement Meeting Agenda. To raise awareness about credit market issues in Zimbabwe, and to provide greater detail on the competition, FSD Africa and its partners will host a market engagement event on 14 June in Harare.
- National Financial Inclusion Strategy (2016-2020). This document highlights the Reserve Bank’s vision for financial inclusion in Zimbabwe. It has detailed SME finance sections.
- Making Access Possible Diagnostic Zimbabwe (2016). This document helps describe the financial sector landscape in Zimbabwe with very useful sections on the country’s credit markets.
To test demand and validate design with some of Zimbabwe’s leading SMEs, please contact SMEAZ Director – Farai Mutambanengwe (email@example.com).