Proposal to FSA Investment Capital · October 2026
One system that runs FSA and enforces its policies
Enterprise ERP on Frappe and ERPNext, configured to FSA's policies, with one FSA-specific app that carries every hard stop.
Prepared by Ethereal Purpose Lda. · Response to the Enterprise Business Requirements Document v1.0
At a glance
Every requirement met, Release 1 live in five months
91 / 91requirements met
5 Apr 2027Release 1 live, all Must items
US$133,500implementation, all three lots
US$0licence fees, every year
Lot 1 · Must59 requirements · US$90,400 · live 5 Apr 2027
Lot 2 · Should27 requirements · US$35,400 · live 26 Jul 2027
Lot 3 · Could5 requirements · US$7,700 · live 20 Sep 2027
US$350,020 total cost over five years, including hosting, support and a yearly penetration test. FSA can award Lot 1 alone, Lots 1 and 2, or all three.
Our understanding
We read the EBRD as five commitments
- One record per factThe Deal Data Sheet feeds every memo, register and report; nothing is retyped.
- Rules as settingsOne versioned parameter schedule drives every threshold, timer and approval.
- Hard stops, not remindersKYC, screening, limits, signatures and tax tests block the action itself.
- Evidenced, segregated approvalsName, role and authority code on every approval; no one creates, checks and approves.
- Outsourcing inside the systemITL, CASS, auditors, AAF and funders work in the platform, not by email.
Solution
Nine modules on one shared core
Investment pipelinePortfolio and loansRisk and limitsCompliance and KYCFinance and treasuryProcurementTravel and missionsConsultantsGovernance and Board
FSA Investments appApprovals engine · parameter schedule · limit table · every hard stop
Frappe Framework (MIT) · ERPNext · Frappe HR · Frappe Lending (GPLv3) · Frappe Insights (AGPLv3)
Connected partiesITLMCBCASSMicrosoft 365AAF and funders
Hosted on OVHcloud Paris across three availability zones · daily backups at Hetzner, Germany
Why Frappe and ERPNext
A licensed open-source product, configured as FSA asked
“Configure, don't build. FSA prefers a proven cloud product, configured with as little custom code as possible.”EBRD §3, Principle 10 · p.6
“The system is cloud-hosted and bought as a licensed product, not developed from scratch.”EBRD Appendix G · p.29
US$0licence fees, for any number of users
Full source codedelivered to FSA under GPLv3, which meets the escrow requirement (App. H)
27 of 91requirements need code, all in one documented app
Requirements coverage
91 requirements: 3 standard, 61 configured, 27 developed
Code sits where FSA's rules are specific to an investment vehicle: the IC and Board engine, the limit engine, the Disbursement Pack, the loan register and valuation.
Approvals engine and hard stops
No payment reaches the bank until every check passes
Deal team prepares the Disbursement Pack
→
Automatic gate✓ KYC complete✓ Screening under 30 days old✓ Within Red limits and caps✓ IC and Board approvals evidenced✓ Documents signed under 6 months ago✓ Cooperative Jurisdiction test passed
→
MD approves
Panel A + Panel B release
MCB payment
All 24 Appendix F acceptance tests are covered. A failed check returns the Pack to the deal team and is logged; nobody can override it.
Integrations
ITL and MCB first: every payment passes through them
ITLITL works inside the system with its own role; postings by REST API or SFTPLot 1
MCBcamt.053 / MT940 in, pain.001 or MCB file out; host-to-host if MCB offers it, secure upload otherwiseLot 1
CASSCASS users inside the system plus file exchangeLot 1
Screening serviceDaily UN list feed; other lists through CASS's providerLot 1
Microsoft 365Entra ID (SAML 2.0 / OIDC), Exchange, SharePointLot 1
Market dataScheduled importLot 2
MCB: two ways to connect, same controls
Option 1 · Host-to-hostStatements (camt.053 or MT940) and confirmations arrive automatically, if MCB offers it.
Option 2 · Secure upload, ready on day oneThe HFO uploads the daily statement from MCB online banking; the system matches every line.
Required formats: §7.2, p.16 · MCB feeds are FSA's dependency: App. G, p.29
Security and continuity
Every section 7.3 requirement met in Lot 1
Single sign-on and MFAThrough FSA's Entra ID; step-up MFA on every payment signature
Segregation of dutiesEnforced by the approvals engine on every item
EncryptionTLS 1.2/1.3 in transit; AES-256 at rest, including backups
Audit trailEvery change, approval and export logged, append-only
ContinuityMulti-zone live; daily backups at a second provider; RPO 24 h
Independent penetration testRegional certified firm, before go-live and every year
≥ 99.9% availability a month, monitored 24/7. Verified before go-live by the acceptance tests, a restore test and the penetration test.
Delivery plan
Release 1 live 5 April 2027, all lots by September
Same five phases for each lot. Two-week sprints end with a demo to FSA; Ethereal Purpose runs system tests, FSA runs UAT.
Team
Nine roles, one named lead, 800 person-days
| Role | Day rate | Lot 1 | Lot 2 | Lot 3 |
|---|---|---|---|---|
| Engagement lead | $280 | 24.7 | 11.5 | 1.5 |
| Functional consultant | $230 | 71.2 | 32.5 | 8 |
| Lead developer | $180 | 88 | 49.5 | 5 |
| Senior developer, finance | $180 | 77 | – | – |
| Developer, governance | $135 | 80.5 | 47 | 27 |
| Developer, operations | $135 | 69 | 42 | – |
| Developer, reports | $135 | 69 | – | – |
| QA engineer | $120 | 46.4 | 25 | 7 |
| DevOps engineer | $180 | 12.8 | 4.5 | 0.5 |
| Total person-days | 539 | 212 | 49 |
A Tunisia-based Frappe team working Mauritius office hours; the engagement lead and functional consultant are on site for kick-off and the Lot 1 go-live.
Financial offer
Fixed price per lot, paid on accepted milestones
Lot 1 · MustUS$90,40059 requirements · live 5 April 2027
Lot 2 · ShouldUS$35,40027 requirements · live 26 July 2027
Lot 3 · CouldUS$7,7005 requirements · live 20 September 2027
20%Signature
30%Design signed off
30%UAT and Appendix F tests passed
20%Live + 30 days stable
Prices in US$, excluding VAT and withholding tax; travel to Mauritius at cost, pre-approved.
Recurring fees: support US$3,000 a month from Lot 1 go-live · hosting US$375 a month · independent penetration test US$4,500 before go-live, then US$3,000 a year · licences US$0.
Hosting
US$375 a month, built from OVHcloud's public price list
LiveOVHcloud Paris, 3 availability zones
US$237
Test and UATOVHcloud France, single-zone region
US$81
Monitoring and secretsOVHcloud
US$20
Backups, first copyOVHcloud
US$10
Backups, second providerHetzner, Germany
US$4
ContingencyExchange rate and price changes
US$24
Fixed monthly fee, year 1 US$375
- Two of everything in live, in different Paris zones, for ≥ 99.9% availability
- Full hourly list price: no discount assumed
- No traffic charges between zones or to the internet
- Backups at a second provider (Hetzner, Germany), as §7.3 requires
- US$23,891 over five years, +3% a year from year 2
Total cost of ownership
US$350,020 over five years, with no licence fees
Implementation, 3 lotsUS$133,500
Support and maintenanceUS$176,129
Hosting and backupsUS$23,891
Penetration testsUS$16,500
Software licencesUS$0
Five-year totalUS$350,020
Next steps
Four decisions to start on 16 November
- Choose the lotsLot 1 alone, Lots 1 and 2, or all three
- Confirm hosting locationEU hosting (France, backups in Germany), or the African-region option
- Sign and kick offContract by 13 November 2026, design week from 16 November
- Open the MCB conversationAsk MCB about host-to-host; secure upload works from day one
Ethereal Purpose Lda. · Thank you