Head of Investments-MFIs

About Us

The AECF (Africa Enterprise Challenge Fund) is a development institution that finances early and growth-stage businesses to innovate, create jobs, and leverage investments and markets to create resilience and sustainable incomes in rural and marginalized communities in Africa.

Since 2008, we have invested over US$ 300 million in over 510 businesses across sub-Sahara Africa focusing on Agribusiness, Renewable Energy, and Climate-smart Technologies. We have impacted more than 33 million lives, created over 35,000 jobs, and leveraged over US$ 838 million in matching funds to our portfolio companies.

AECF is headquartered in Kenya, with offices in Côte d’Ivoire, Tanzania, Nigeria, South Sudan, Benin, and Somalia.

About the role

AECF has over the years provided catalytic capital and technical assistance to microfinance institutions (MFIs) and has witnessed the MFIs extend their portfolios to customer segments deemed risky, specifically women and youth-owned micro and small businesses. We are launching a microfinance institutions’ Working Capital Facility that will enhance MFIs’ access to local currency working capital facilities with the objective of solving financial inclusion for MSMEs. This initiative will initially focus on the Kenyan market, with aspirations to go regional.

We are seeking a dynamic, entrepreneurial, and analytical Head of Investments—MFIs who will play a pivotal role in setting up the required operational structures and systems, driving investment strategies, structuring deals, and providing technical advisory support to the MFIs. The incumbent should possess extensive experience in investment management, deal structuring, and portfolio oversight focusing on MFIs and be ready to build the vehicle and position it as a leading provider of capital to MFIs, for impact at scale.

This role will report to the Chief Executive Officer.

Key Responsibilities

• Lead the operationalization of the microfinance working capital facility.
• Concretize the investment thesis and establish systems, structures, policies, and procedures to support the implementation of the MFI Working capital facility.
• Develop and implement strategic investment plans to enhance the impact and efficiency of AECF’s MFI lending operations.
• Design and structure new investment products tailored to the needs of MFIs, including detailed implementation plans and documentation.
• Formulate and execute a comprehensive investment strategy to attract capital for the lending facility.
• Source and evaluate investment opportunities within the MFI sector.
• Oversee deal origination, due diligence, structuring, and negotiation, while ensuring alignment with MFI needs and risk profiles.
• Lead transaction teams, managing cross-departmental efforts to close deals effectively.
• Take responsibility for transaction documentation and fund disbursements, ensuring the successful execution of investment agreements.
• Lead the development of financial models and tools for evaluating MFI performance and investment viability.
• Ensure continuous improvement and best practices in financial analysis and modeling for investment decision-making.
• Monitor financial markets and sector trends to inform investment strategies and assess MFI performance.
• Establish key performance indicators (KPIs) to measure the impact and success of the lending facility.
• Prepare regular reports for the board and management on the facility’s performance, risk assessments, and strategic initiatives.
• Assess and enhance the investment readiness of MFI portfolio companies, providing technical assistance and support for their growth.
• Facilitate investment readiness programs, guiding MFIs through the preparation, valuation, and negotiation processes.
• Establish relationships with external stakeholders including funders, regulatory bodies, and industry actors – leveraging on AECF’s experience and track record.

Suitable candidates should:

• Possess a bachelor’s degree in business, commerce, finance, or a related field. A master’s degree in business administration or finance will be an added advantage.
• Have professional certification such as CFA or equivalent.
• Have a minimum of 10 years of experience in investment management, including sourcing, structuring, and managing investments in the financial sector.
• Have a proven track record of working with MFIs or in the microfinance sector, with a strong understanding of their financial and operational needs.
• Be able to demonstrate expertise in financial analysis, modeling, and risk evaluation, with the ability to manage complex financial instruments.
• Have exceptional negotiation, communication, and presentation skills, with proficiency in English.
• Possess strong analytical and problem-solving abilities, with a strategic mindset and capacity to make informed decisions.