Concept notes must be a maximum of 10 pages and should include the following sections:
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I. Project Objective
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- Statement of product/service to be offered and linkage to key focus sectors
- Statement of how the product/service is innovative in Nigeria
- Brief statement of how the solution will benefit the unbanked/under-banked low income customer segment and promote financial inclusion
- Need for EFInA funding
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II. Background
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- Project rationale
- Product/service description
- Product/service delivery channel
- The idea (e.g. similar project in other markets)
- How does this product/service offering fit into the overall strategy of the organisation
- Proof of resources to implement the project plan
- List names of project team members and their roles
- Capacity e.g. partner financial services providers, technology, software development, consultants
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III. Work Plan and Requirements
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- Detailed work plan (who will do what when) linked to the objectives
- A description of what is required to implement the plan
- A cost/benefit analysis of the plan
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IV. Targets
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A set of outcomes linked to the objectives:
- Customer segment target: banked, unbanked, under-banked
- Outreach:
- Number of unbanked/under-banked targeted
- Geographic target: urban, rural, peri-urban (specify location)
- Gender target: male, female both
- Development Impact - direct/indirect in terms of increasing access to financial services
- Customer acquisition costs
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V. Key Risks & Mitigants
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- Identify key risks and mitigation strategy
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VI. Budget
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- Budget for the project, including funding gaps
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