Sida-USAID guarantee for Socremo
Socremo is a Mozambican micro-finance bank that has received a Sida and USAID-funded loan guarantee. The Embassy of Sweden in Maputo announces tenders for two separate consultant assignments, one for a technical assistance component and the other for a monitoring and evaluation component over a period of four years starting in early 2017.
The Sida-USAID cooperation with Socremo is designed to help the bank establish a guaranteed loan portfolio of up to 10 Million USD that will help enable 4,000 MSEs and women-owned enterprises in Mozambique get access to credit.
The aid-financed guarantee aims to make it possible for SOCREMO to develop a new set of products with less stringent collateral requirements for this segment and expand into new geographic locations. 50% of the MSEs are to be located outside of Maputo.
The TA component involves coaching and assisting Socremo’s clients in writing better business plans and better credit applications, as well as communication and dissemination of information about the availability of financing.
The monitoring and evaluation component will involve systematic and regular data collection about Socremo’s clients, including the successes and failures.
The deadline for the submission of tenders is November 29, 2016.