Tender Details

Country: Somalia
Summary: Credit Data and Alternative Data Landscape in Somalia
SOT Ref No: 126358283
Deadline: 29 Sep 2025
Financier: World Bank (WB)
Purchaser Ownership: Government
Tender Value: Refer Document
Notice Type: Tender
Document Ref. No.: 0002017391
Purchaser's Detail:
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Description:
There is no formal credit reporting or any type of formal private sector data sharing arrangements in Somalia yet. The private financial sector does not have adequate tools and information to assess the risks associated with MSMEs and individuals and thus chooses not to provide financing to them. The market has limited use for scoring applications or automated account management systems, as the low number of applications make it difficult to build statistical models.Within the context of the above, IFC is supporting THE CENTRAL BANK OF SOMALIA (CBS), in the development of a credit information ecosystem that meets the needs of Somalia and supports financial institutions to make data driven lending decisions. IFC-s initiative aims to expand access to finance for individuals and MSMEs by improving their credit risk management processes of the financial institutions through deploying a credit information system.IFC will initiate work in Somalia by assessing the availability and accessibility of credit information to be reported by financial institutions for creditworthiness analysis. In addition to leveraging traditional credit data, a large part of the Somali population transacts on digital platforms such as the internet, mobile phones, etc. Credit providers can leverage this alternative data for credit worthiness assessment particularly for those segments that are un/underserved.Resultantly, the review will also assess the feasibility of using alternative data for creditworthiness assessment mainly for micro and small enterprises that are under/unserved by financial institutions and other lenders.IFC is seeking to hire a Consultancy firm to undertake a diagnostic on the feasibility of introducing a credit information system in Somalia, through performing a landscape of the credit and alternative data available in Somalia
90 - CONTRACT CONSULTANTS
Documents:

1.-CIS-Somalia-TOR-Alternative-Data-Landscape.pdf

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Credit Data and Alternative Data Landscape in Somalia - Somalia Tender

The WORLD BANK(WB), a Government sector organization in Somalia, has announced a new tender for Credit Data and Alternative Data Landscape in Somalia. This tender is published on SomaliaRFP under SOT Ref No: 126358283 and is categorized as a Tender. Interested and eligible suppliers are invited to participate by reviewing the tender documents and submitting their bids before the deadline on 2025-09-29.

The estimated tender value is Refer Document, and full details, including technical specifications and submission requirements, are provided in the official tender documents. Ensure all submissions meet the criteria outlined to be considered for evaluation.