Fund Manager for Ngwee Ngwee Ngwee Fund

**Project:** Accelerating Sustainable and Clean Energy Access Transformation in Malawi

REPUBLIC OF MALAWI
MINISTRY OF ENERGY
 

REQUEST FOR EXPRESSION OF INTEREST (CONSULTING SERVICES – FIRM SELECTION)

Country	Malawi
Project Name	ASCENT Malawi Project
Project Number	P502464
Assignment Title	Consultancy for Provision of Fund Management Services for the Ngwee Ngwee Ngwee Fund
Reference No.	MW-MOE.-574017-CS-QCBS
EOI Issue Date	28th September 2026

This request for expression of interest follows the General Procurement Notice for this Project that appeared in the United Nations Development Business (UNDB) on 31st January 2025.

The Government of the Republic of Malawi through the Ministry of Energy (MoE) has received financing from the International Development Association (IDA) and the Energy Sector Management Assistance Program (ESMAP) towards the cost of implementing the Accelerating Sustainable and Clean Energy Access Transformation in Malawi (ASCENT Malawi) Project. It is intended that part of the proceeds of the financing will be used to cover eligible payments under the contract for these consultancy services.

The consulting services (“the Services”) are intended to engage a qualified consulting firm or consortium to provide Fund Management Services for the Ngwee Ngwee Ngwee Fund (NNNF). The Fund Manager will support the Ministry of Energy in delivering ASCENT Malawi Project Components 2, 3 and 4; managing legacy Malawi Electricity Access Project (MEAP) loan collections and residual obligations; and supporting the transition and institutionalisation of the NNNF as a sustainable standalone revolving fund.

The assignment is expected to be implemented over forty-eight (48) Calendar months, from 1st January 2027 to 31st December 2030, subject to contract signature and availability of financing.

The objective of the assignment is to provide specialised fund management services that enable timely, compliant and well-secured financing to eligible Participating Organisations; ensure sound portfolio, fiduciary, safeguards, data and risk management; protect the Fund’s creditor rights; support achievement of ASCENT energy-access and market-development results; and strengthen systems, national capacity and arrangements for the long-term sustainability of the NNNF.

The scope of work under this assignment shall include, but not be limited to:

a) Inception, portfolio takeover, reconciliation and structured handover of existing NNNF facilities, commitments, systems, records and outstanding actions;

b) Cross-cutting fund administration, including drawdown and payment review, portfolio monitoring, forecasting, records management, risk management and reporting;

c) Administration of Component 2 debt and Results-Based Financing (RBF) facilities for off-grid solar companies, including disbursements, repayments, verification interfaces, portfolio quality and recovery actions;

d) Administration of Component 3 financing and performance-linked payments for electrification of public schools and health facilities, in coordination with the ASCENT PIU technical team;

e) Administration of Component 4 clean cooking financing, including loans, repayments, security, portfolio monitoring and carbon-finance interfaces;

f) Management of loan collateral, security perfection, covenant monitoring, enforcement and recoveries, subject to Ministry approvals;

g) Management and collection of the legacy MEAP loan portfolio, including arrears, restructuring, recoveries and close-out actions;

h) Data management, monitoring, dashboards, financial and operational reconciliation, fraud and corruption controls, cybersecurity and data protection;

i) Implementation and monitoring of environmental and social requirements in accordance with the NNNF ESMS, applicable Malawi law and World Bank requirements;

j) Coordination with the Independent Verification Agent, Legal Advisor, Carbon Consultant, technical specialists and other consultants engaged by the Ministry; and

k) Support to institutionalisation of the NNNF, including governance arrangements, capitalisation options, sustainable business model, capacity development, systems transfer and final handover.

The detailed Terms of Reference (TORs) for the assignment can be found at the following websites: Ministry of Energy (https://energy.gov.mw/resources/), Ngwee Ngwee Ngwee Fund (https://www.nnnf.energy.gov.mw/resources/) and ASCENT Malawi Project (https://www.ascent.mw/resources/), or upon request through amopiha@ascent.mw copied to info@ascent.mw and austin.theu@energy.gov.mw. All requests for clarification should be sent through the above email addresses.

The MoE now invites eligible consulting firms (“Consultants”) to indicate their interest in providing the Services. Interested Consultants should provide information demonstrating that they have the required qualifications and relevant experience to perform the Services. The shortlisting criteria are as follows:

1. Core business of the firm(s) and years in business of not less than 5 years organizational capability and relevant experience in fund management, investment, lending, RBF/grant facilities or comparable financing programmes.

2. Relevant similar experience, which should specifically include the below:

a) Off-grid solar and clean cooking sector expertise: experience in, and understanding of, the off-grid solar and clean cooking market in Sub-Saharan Africa, including Energy-as-a-Service and PAYGo solar business models (minimum of five years), together with specific experience in, and understanding of, the Malawi off-grid solar and clean cooking market and the success factors of for-profit businesses in this sector;

b) Results-Based Financing (RBF) and grant facility management: a minimum of three years track record of structuring and managing RBF grant facilities aimed at market stimulation, ideally facilities funded by multilateral development banks, development finance institutions and/or bilateral development assistance agencies;

c) Debt and consumer financing track record: a minimum of three years track record of providing debt financing to off-grid solar and clean cooking distribution businesses and/or consumer finance businesses, including microfinance institutions;

d) Malawi presence and government/development-partner engagement: an established or committed local footprint in Malawi sufficient to manage relationships and reporting with the Government of Malawi and with RBF Grant Window and Debt Window applicants and investees and experience managing reporting relationships with government stakeholders and large development finance organisations;

e) Integration & Institutional Capability: Capacity to integrate sector expertise, financing mechanisms, and local presence, with into a coherent delivery model, supported by evidence of technical and managerial systems for coordinating RBF, debt financing, and stakeholder reporting, and scalable energy-access ability to sustain and scale operations in Malawi’s energy access sector.

3. Technical and managerial capability of the firm (provide only the structure of the organization, general qualifications, and number of key staff. Do not provide CVs of the staff. Key Experts will not be evaluated at the shortlisting stage.

This Request for Expressions of Interest is open to all eligible firms as defined in the World Bank's Procurement Regulations for IPF Borrowers (July 2016, as revised November 2017, August 2018, September 2023 and February 2025). Firms declared ineligible by the World Bank Group in accordance with the Bank's guidelines on Preventing and Combating Fraud and Corruption in Projects Financed by IBRD Loans and IDA Credits and Grants are not eligible to participate.

Consultants may associate with other firms in the form of a Joint Venture (JV) or sub-consultancy to enhance their qualifications. In the case of a JV, the firms should clearly identify the lead firm and the nature of the association. All partners in a joint venture shall be jointly and severally liable for the entire contract, if selected.

A Consultant will be selected in accordance with the Quality- and Cost-Based (QCBS) Selection method set out in the World Bank Procurement Regulations for IPF Borrowers.

Interested firms are requested to submit an Expression of Interest containing the following information:

• Firm Profile: organisation name, legal status, country of registration, year of establishment, core business and contact details.
• Relevant Experience: description of similar assignments, including client, assignment title, duration, contract value, scope and role of the firm; reference contacts should be provided.
• Approach Statement: a brief statement responding to the shortlisting criteria outlined above. 
• Statement of Availability and Commitment: Signed declaration of the firm's availability and commitment to execute the assignment.
• Joint Venture Agreement (if applicable): A Letter of Intent to form a JV or sub-consultancy, signed by all parties

Further information can be obtained at the address below during office hours from 8:00 to 12:00 and 13:00 to 16:00 hours local time, Monday to Friday, except National Holidays.

Expressions of Interest must be submitted in either electronic or hard copy format no later than 26th October 2026.

Electronic submission (PDF format) to: amopiha@ascent.mw(primary) with copy to info@ascent.mw and austin.theu@energy.gov.mw.

Hard copy submission addressed to:

IPDC Chairperson

Ministry of Energy – ASCENT MW Project

Area 47 Sector 5, House No. 66

P/Bag 309, Lilongwe 3, Malawi

Late submissions will not be considered. The MoE reserves the right to accept or reject any Expression of Interest and to annul this process at any time without incurring any liability.

The firms that will submit their EOI via e-mail must get confirmation of the receipt of their documents. In case the firm does not receive acknowledgement within two days after sending the documents via email, they should call +265 888 870 806 or +265 999 138 270 for follow-up.

The Chairperson of Internal Procurement and Disposal Committee

Ministry of Energy

ASCENT Malawi Project

Area 47, Sector 5, House No. 66

Private Bag 309, Lilongwe 3

Malawi

 

E-mail: amopiha@ascent.mw

Copy:  info@ascent.mw  and austin.theu@energy.gov.mw