Consultancy Services for Independent Verification Agent (IVA) for Central Bank of Somalia in Association with Grant Thornton Kenya

In collaboration with the Central Bank of Somalia's Internal Audit Department (IAD), Waayeel Consulting conducted the verification of program expenditures and the achievement of proposed Performance-Based Contracts (PBCs). This project involves periodic independent reviews, conducted at least semiannually, to verify program expenditures and PBC achievements. The reviews aim to confirm the fulfillment of PBCs and applicable eligible expenditures, thereby enabling necessary proposals and recommendations for disbursements.


Project Scope:


Verification of program expenditures in accordance with agreed-upon terms and conditions.

Assessment of the achievement of proposed Performance-Based Contracts (PBCs).

Conducting periodic independent reviews, at least semiannually, to ensure compliance and accuracy in program expenditures and PBC achievements.

Making necessary proposals and recommendations for disbursements based on verified expenditures and PBC achievements.

Key Activities:


The key activities carried out as part of this project are as follows:


Collaborating with the Central Bank of Somalia's Internal Audit Department (IAD) to establish verification procedures and guidelines.

Conducting thorough reviews of program expenditures to ensure accuracy and compliance with established guidelines.

Assessing the achievement of proposed Performance-Based Contracts (PBCs) through detailed evaluations and analysis.

Conducting periodic independent reviews, including site visits and document inspections, to verify program expenditures and PBC achievements.

Providing timely and accurate reports with proposals and recommendations for disbursements based on verified expenditures and PBC achievements.


Through the implementation of independent verification services, the project aims to ensure transparency, accountability, and accuracy in program expenditures and the achievement of proposed Performance-Based Contracts (PBCs). By conducting periodic reviews and making necessary proposals and recommendations for disbursements, the project contributes to the effective management of funds and the achievement of program objectives set forth by the Central Bank of Somalia. Ultimately, this partnership between Waayeel Consulting and Grant Thornton Kenya strengthens governance mechanisms and promotes trust and confidence in the Central Bank's initiatives.

Project Scope:

The project scope encompasses:

Designing and implementing capacity needs assessment workshops tailored to stakeholders within the Federal Government of Somalia.

Conducting consultation workshops to clarify public funds and the budget preparation process.

Facilitating informed and inclusive consultations with citizens to collect structured feedback, comments, and ideas for consideration by the government.

Organizing capacity needs assessment workshops for stakeholders, including the Parliamentary Budget and Finance Committee, Ministry of Finance Budget Team, Somali Media Outlets, General Public, and Civil Society Organizations (CSOs).

Conducting consultation workshops to provide clarity about public funds and the budget preparation process.

Facilitating inclusive discussions and consultations with citizens to gather feedback, comments, and ideas in a structured manner.

Analyzing collected feedback and presenting it to the government for consideration in budget planning and decision-making processes.

Through the implementation of capacity needs assessment and consultation workshops, the project aims to enhance budget transparency within the Federal Government of Somalia. By engaging key stakeholders and facilitating inclusive consultations with citizens, the project seeks to promote informed decision-making and foster public trust in the budgeting process. Ultimately, the project endeavors to contribute to improved governance, accountability, and responsiveness to the needs of the Somali population.


The project scope encompassed a multifaceted approach, including an in-depth examination of READO LNGO's alignment with Plan International's mission, values, and goals. Additionally, it involved a comprehensive assessment of potential partners' credibility, capabilities, and track record in delivering impactful community-based projects. The scope extended to evaluating financial stability, governance structures, and program effectiveness of NGOs, ensuring a holistic understanding of their suitability for collaboration with Plan International.

Throughout the project, Waayeel Consulting undertook a series of key activities to facilitate a thorough assessment and due diligence process. These activities included:

  1. Conducting extensive research into potential partners' backgrounds and operations.
  2. Conducting on-site visits to observe project activities.
  3. Engaging in interviews with key stakeholders.
  4. Analyzing financial documents to evaluate financial stability and transparency.
  5. Evaluating governance structures to ensure accountability and sustainability.
  6. Assessing program effectiveness through project outcomes and community feedback.

The assessment and due diligence process yielded valuable insights for Plan International, empowering informed decision-making regarding potential partnerships. By ensuring alignment with organizational values and goals, as well as verifying the credibility and effectiveness of potential partners, this project aims to strengthen collaborative efforts towards sustainable community development and the advancement of children's rights. Ultimately, the outcome of this project will enhance Plan International's capacity to forge impactful partnerships and drive positive change in communities worldwide.

The retreat was carefully designed to provide a balance of reflection, learning, and rejuvenation. Through a series of workshops, training programs, and team-building activities, participants had the chance to deepen their skills, expand their knowledge, and strengthen their professional capacities. Topics covered during the retreat included child welfare, trauma-informed care, leadership development, and organizational management.

Beyond the formal training sessions, the retreat also offered ample opportunities for informal networking and relationship-building. Team members had the chance to engage in open dialogue, share best practices, and exchange ideas with colleagues from different regions and backgrounds. These interactions not only fostered a sense of camaraderie but also promoted cross-collaboration and knowledge-sharing within the organization.

In addition to the professional development aspect, the retreat also prioritized staff well-being and self-care. Participants were encouraged to take time for personal reflection, relaxation, and mindfulness practices. By stepping away from their daily work routines and immersing themselves in a supportive and nurturing environment, staff

members were able to recharge their batteries and return to their roles with renewed energy and enthusiasm.

Overall, the annual staff retreat for SOS Somalia and Somaliland was a resounding success. It provided staff members with the tools, resources, and inspiration needed to continue making a positive impact in the lives of vulnerable children and families. Waayeel Consulting is proud to have played a role in facilitating this transformative experience and looks forward to continuing its partnership with SOS Children’s Village in the future.



Centera Bank of Somalia

Sponsored by

World Bank
(Scale-up Projects)


53 Weeks (1 Year)
Client Background

The Central Bank of Somalia (CBS) serves as the primary monetary authority and regulatory body overseeing the financial system in Somalia. Established in 1960, the CBS plays a crucial role in promoting monetary stability, regulating financial institutions, and facilitating economic development within the country.

Client Testimonial

The training program on budgeting and PFM organized by Waayeel Consulting exceeded my expectations. The facilitators were highly knowledgeable professionals who used practical examples that made the concepts easy to grasp. My skills in budget planning, implementation and reporting have significantly improved. I now feel more empowered and confident to champion transparency and accountability in managing scarce public funds.

Mohammed Abdirizak

Senior Officer, Budget Department at the Ministry of Finance

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