UNCDF makes public and private finance work for the poor in the world’s 47 least developed countries. With its capital mandate and instruments, UNCDF offers “last mile” finance models that unlock public and private resources, especially at the domestic level, to reduce poverty and support local economic development.
UNCDF’s financing models work through two channels: financial inclusion that expands the opportunities for individuals, households, and small businesses to participate in the local economy, providing them with the tools they need to climb out of poverty and manage their financial lives; and by showing how localized investments — through fiscal decentralization, innovative municipal finance, and structured project finance — can drive public and private funding that underpins local economic expansion and sustainable development.
By strengthening how finance works for poor people at the household, small enterprise, and local infrastructure levels, UNCDF contributes to SDG 1 on eradicating poverty and SDG 17 on the means of implementation.
By identifying those market segments where innovative financing models can have transformational impact in helping to reach the last mile and address exclusion and inequalities of access, UNCDF contributes to a number of different SDGs.
The UNCDF strategy ‘Leaving no one behind in the digital era’ is based on over a decade of experience in digital financial inclusion in Africa, Asia and the Pacific.
UNCDF’s vision is to empower millions of people by 2024 to use services daily that leverage innovation and technology and contribute to the Sustainable Development Goals (SDGs).
To achieve this vision, UNCDF uses a market development approach and continuously seeks to address underlying market dysfunctions.
The Digital Finance Specialist will support UNCDF’s delivery of direct technical assistance on digital financial services (DFS) for Financial Service Providers including Fintechs, MFIs, SACCOs, and their respective apex organizations.
S/he will need to be well versed in the financial inclusion, and/or digital innovation space and emerging trends in financial technologies.
1. Deliver direct technical assistance to financial service providers (mainly MFIs and SACCOs), system integrators, fintechs and technology service providers with a focus on digitalization, real-time & opensource payment platforms and deepening rural financial inclusion.
S/he will provide technical leadership and direction on the management and implementation of all activities. S/he will manage relationships with key stakeholders involved in the related areas of technical focus, including the government, financial service providers, the UN system, UNCDF’s funders, fintechs, and technology service providers etc. (40%).
- Support the smaller MFIs and SACCOs on conducting diagnostics on digitization status and offering advisory services through MFI and SACCO organizations towards affordable digitization models including using shared infrastructural solutions;
- Work with local system integrators on real-time, open-source payment systems to build capacity for onward support to MFIs and SACCOs on the same;
- Organize and facilitate trainings for FSPs (mainly MFIs & SACCOs) on business model design and identification of use cases for digitalization;
- Explore and support rural focused innovative financing models including building on the FSP agents’ model and on mobile channels;
- Manage all performance-based financing agreements with relevant partners competitively identified through public procurement processes. This will include support in drafting and reviewing Terms of Reference & Request for Applications, and monitoring performance against set target milestones;
- Formulate concept notes and proposals for purposes of project expansion and scale up.
2. Manage knowledge management and results measurement. S/he will be responsible for ensuring critical information is captured from technical assistance activities to improve effectiveness of delivery in order to share learnings with UNCDF and global partners (15%).
- Organize and facilitate periodic learning exchanges including creation of and support to communities of practice, learning workshops and knowledge sharing in relevant forums;
- Manage and report on interventions and partnerships with financial service providers on issues related to digital (agriculture and rural) finance, FSP digitalization, and payments;
- Develop and manage communications materials and activities in the above areas;
- Support UNCDF’s communications team to ensure knowledge and information is shared with global network of partners
- Manage UNCDF Tanzania’s technical assistance efforts related to the apex organizations;
- Manage all performance-based financing agreements with relevant apex organizations. This will include support in drafting and reviewing Terms of Reference (ToR) & Request for Applications, and monitoring performance against set milestones;
- Support the development of ToRs and the agenda, laying-out the structure of learning events (both national and regional);
- Draft reports, position papers, briefs and written analyses on the digitalization process including use of shared infrastructure solutions and engagement with FSPs, fintechs, technology service providers and other relevant private sector stakeholders.
- Support identification and deployment of digital agriculture platforms and agriculture focused fintech companies;
- Support creation of informal savings mechanisms such as savings groups and offer linkages to digitization and formal financial services;
- Manage all performance-based financing agreements with relevant partners (FSPs, fintechs, digital agriculture platforms, ag-tech companies) competitively identified;
- Draft reports, position papers, briefs and written analyses based on learnings & best practices around digital agriculture platforms including the deployment of embedded services and targeted savings and credit products/services;
- Formulate concept notes and proposals for purposes of project expansion and scale up;
- Lead UNCDF Tanzania’s digital finance and digital agriculture technical assistance efforts.
The digital financial Specialist will work under the supervision of the Country Lead for Inclusive Digital Economies, Tanzania
- Achieve Results: LEVEL 3: Set and align challenging, achievable objectives for multiple projects, have lasting impact
- Think Innovatively: LEVEL 3: Proactively mitigate potential risks, develop new ideas to solve complex problems
- Learn Continuously: LEVEL 3: Create and act on opportunities to expand horizons, diversify experiences
- Adapt with Agility: LEVEL 3: Proactively initiate and champion change, manage multiple competing demands
- Act with Determination: LEVEL 3: Think beyond immediate task/barriers and take action to achieve greater results
- Engage and Partner: LEVEL 3: Political savvy, navigate complex landscape, champion inter-agency collaboration
- Enable Diversity and Inclusion: LEVEL 3: Appreciate benefits of diverse workforce and champion inclusivity
Cross Functional & Technical Competencies
- 2030 Agenda Partnerships: SDG Finance: Innovative Finance
- 2030 Agenda Partnerships: SDG Finance: Financial Inclusion
- Partnerships Management: Relationship management: Ability to engage with a wide range of public and private partners, build, sustain and/or strengthen working relations, trust and mutual understanding
- Partnership management: Resource mobilization: Ability to identify funding sources, match funding needs
- (programmes/projects/initiatives) with funding opportunities, and establish a plan to meet funding requirements
- Digital & Innovation: Digital transformation design: Practical and strategic skills in digital transformation for governments and organizations.
- Digital & Innovation: Alternative finance: Ability to identify potential alternative forms of finance and mobilize them for the purpose of addressing development challenges. Ability to review the skills, capacities, procedures and protocols that are needed to enable new financial mechanisms. Ability to assess the risks, limitations and implications of using new financial mechanisms.
- A master’s degree in economics, public/business administration, social sciences, international development or related discipline OR a Bachelor’s degree with two additional years of experience degree in economics, public/business administration, social sciences, international development or related discipline.
- A minimum of 7 years (Masters) or 9 years (Bachelor) of progressively responsible experience in financial services (particularly in digital finance with a bias towards agriculture/rural finance, MFI/SACCO support) in the public, private and/or international development sectors;
- Experience building key stakeholder relationships with governments, private sector and civil society and encouraging constructive dialogue and collaboration;
- Experience in providing thought leadership in the delivery of innovative rural financing models;
- Experience working in emerging markets and real-time open source payment systems in Tanzania and/or East Africa;
- Experience in preparing presentations, case studies, research papers and other learning materials;
- Working knowledge of concepts to digital financial services and financial inclusion is preferred;
- Experience working in developing countries is preferred.
- Written and spoken proficiency in English is required and Knowledge of Kiswahili is desirable.
The deadline for submitting the application is 10 September 2022.