Tender Notice: FINCA Zambia External Quality Assurance Review

  • Consultancy
  • Lusaka, Zambia
  • Applications have closed

Website FincaZambia FINCA Zambia

FINCA Impact Finance is an Equal Opportunity Employer.


FINCA Zambia is a Micro finance deposit taking institution regulated by the Bank of Zambia. FINCA Zambia provides a wide range of loan and savings products that are very competitive on the market. The loan products are tailor made to suit and empower small to medium entrepreneurs while the savings create wealth and security for our clients. In addition, FINCA Zambia also offers value added services such as payroll on our corporate account among other services.

Purpose of Assignment & Scope of Work:

The purpose of this engagement is to conduct an External Quality Assurance Assessment of FINCA Zambia Internal Audit Function in line with IIA Standards and in compliance with section 19.13 of the Bank of Zambia corporate governance directives.

The assessment of the Internal Audit Function will broadly cover the following areas:

  •  Conformance to IIA standards and the Bank of Zambia guidelines
  •  Maturity of Internal Audit operating practices against the industry best practice
  •  Stakeholder expectations and perception of Internal Audit performance against industry best practices
  •  Internal Audit operating practices compared to peer microfinance.


  1. The consultant (firm) must have at least 3 years of experience in External Quality Assurance Review (EAQR) and must provide the number of EAQR conducted in the last year.
  2. The consultant (firm) must also provide at least one letter of recommendation on the successful completion of such assignment.
  3. The consultant (firm) must have at least a Certified Internal Auditor (Membership of IIA) on its team with other relevant professional certifications. Resumes of employees to conduct the review are also required.

Terms and Conditions

Terms and conditions for bidders are given below:

  1. Submission of bids/proposals: All proposals must be sealed and labelled External Audit Assurance    Review 2022 and deposited in the tender box stationed at FINCA Zambia Head Office, Plot 22768, Thabo Mbeki & Great East Road, Lusaka and must be submitted within 14 days from the date of publication of this notice.
  2. Date of Bid Expiration: Proposals must be valid for a minimum of 30 days from the proposal date. Responses must clearly state the validity of the bid and its explicit expiration date.
  3. Bid Pricing Information: By submitting a signed bid, the Bidder certifies that the Bidder has arrived at prices in its bid without agreement with any other bidder of this RFP for the purpose of restricting competition. The prices in the bid have not been disclosed and will not be disclosed to any other bidder of  this RFP. No attempt by the Bidder to include any other bidder to submit or not to submit a bid for restricting competition has occurred.
  4. Bidder Status: Each Bidder must indicate whether or not they have any actual or potential conflict of interest related to contracting services with FINCA Zambia.
  5. RFP Ownership: The RFP and all supporting documentation/templates are the sole property of FINCA  Zambia and should not be redistributed, either in full or in part thereof, without the prior written consent  of FINCA Zambia. Violation of this would be a breach of trust and may, inter-alia cause the Bidder to be    irrevocably disqualified. The aforementioned material must be returned to FINCA Zambia when submitting the Bidder proposal, or upon request. In case, the Bidder is not interested in responding to the RFP.
  6. Proposal Ownership: The proposal and all supporting documentation submitted by the Bidder shall become the property of FINCA Zambia unless the Bidder specifically requests, in writing, that the proposal and documentation be returned or destroyed.
  7. Confidentiality: The Bidder will be exposed by virtue of the contracted activities to internal business information of FZ, affiliates, and/or business partners. Disclosure of receipt of any part of the aforementioned information to parties not directly involved in providing the services requested could result in the disqualification of the Bidder, pre-mature termination of the contract, or legal action against  the Bidder for breach of trust. No news release, public announcement, or any other reference to this RFP  or  any program there under shall be made without written consent from FINCA Zambia. Reproduction of this RFP, without prior written consent of FINCA Zambia, by photographic, electronic, or other means is  strictly prohibited.
  8. Intellectual Property Rights: FINCA Zambia expects to own all intellectual property rights of the methods  and design of the solution specifically formed for implementation at FZ.
  9. Disclaimer: The institution and/or its officers,  employees disown all liabilities or claims arising out of any loss or damage, whether foreseeable or not, suffered by any person acting on or refraining from acting because of any information including statements, information, forecasts, estimates or projections contained in this document or conduct ancillary to it whether or not the loss or damage arises in connection with any omission, negligence, default, lack of care or misrepresentation on the part of the institution and/or any of its officers or employees.
  10. FINCA Zambia Ltd Rights: 
  • Reject any or all proposals received in response to the RFP without assigning any reasons thereof.
  • Waive or modify any formalities, irregularities, or inconsistencies in proposal format delivery.
  • Accept/reject any counter proposal or addendum submitted by the Bidder.
  • Extend time for submission of all proposals.
  •  If the institution in its absolute discretion deems that the originator of the clarification will gain any advantage by a response to a question, then the institution reserves the right to communicate such query and response to all respondents of the RFP.
  • The institution reserves the absolute right to reject the offer if it is not in accordance with its requirements and no further correspondence, whatsoever, will be entertained by the institution in the matter.
  • Until execution of a contractual agreement, no binding legal relationship will exist between any of the Respondents of this RFP and the institution.

11. Liabilities of FINCA Zambia: This RFP is not an offer by FINCA Zambia but an invitation for Bidder responses. No contractual obligation on behalf of FINCA Zambia whatsoever shall arise from the RFP process  unless and until a formal contract is signed and executed by duly authorized officials of FINCA Zambia and Bidders.

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