Head of AECF Investment Brokerage Unit (IU)
KPMG is a leading provider of professional services, which include audit, tax and advisory.
KPMG’s International Development Advisory Services Unit (IDAS) is based in Nairobi, Kenya and has adopted a pan-African approach to development work, employing full-time experienced development experts within the KPMG Africa team at our headquarters in Nairobi, together with a network of champions across the twenty countries of KPMG in sub-Saharan Africa.
In 2008, the Alliance for a Green Revolution in Africa (AGRA) contracted KPMG Development Advisory Services (KPMG DAS) to provide fund management services for the Africa Enterprise Challenge Fund (the AECF) through a competitive tender process. The AECF has developed into a US$200 million fund spanning several countries in Africa.
The AECF encourages private sector companies to compete for investment support for new and innovative business ideas that, while risky, will be commercially viable and have a large positive development impact on rural areas across Africa.
The AECF awards grants and interest free, non-recourse, loans (between US$250,000 and US$1.5m per business) to successful applicants after demand-led (call for applications) competitive bidding rounds.
The focus of the AECF is on agribusiness, access to financial services, renewable energy and adaptive climate technologies for people living in rural areas in general and for agriculture and agribusiness enterprises in particular.
By the end of February 2013, the AECF had 102 ongoing funded businesses in its portfolio, with a further 80 at contract stage (across 22 countries in sub-Saharan Africa).
The AECF is expected to grow substantially over the next few years.
The AECF has received funding from the Swedish International Development Agency (SIDA) to establish an Investment Brokerage Unit. KPMG IDAS wishes to secure the services of a senior investment manager to be Head of AECF Investment Brokerage Unit (IU), reporting to the AECF Director and based in the AECF Headquarters in Nairobi, Kenya.
Specific Terms of Reference
Purpose:
The purpose of this engagement will be to set up and manage the IU of the AECF which will pro-actively help the AECF to be more effective as a feeder fund for more commercial providers of debt and equity finance
In this regard, the IU will develop a sound understanding of the businesses funded by the AECF (about 180 by the end of 2103) and their financial needs beyond what is currently provided by the AECF.
In addition, the IU will develop a thorough knowledge of providers of debt and equity finance to the AECF’s sectors (agribusiness, renewable energy amongst others) and their conditions and requirements.
The IU’s major task will be to assist AECF funded businesses to obtain additional finance to grow their businesses.
The performance of the IU and its Head will be measured in terms of how many deals are brokered; how much money has been leveraged into AECF supported businesses (and other businesses) and how much development impact has been created from this additional money made available to these businesses.
Qualifications and experience
An undergraduate degree in finance, economics or related discipline (a post graduate degree or equivalent qualification in a related discipline would also be preferable), with at least 10 years experience in Investment Banking with, ideally, experience in lending to, or investing in, agribusiness in Africa (Sub-Sahara).
Empathy with the aims and objectives of impact investing and some knowledge of doing business in Africa (Sub-Sahara) would be valuable.
Skills and attributes
Capable of building and sustaining relationships with senior professionals across a number of sectors and countries.
Financial and analytical skills.
Professional attitude to work and a clear work ethic.
Ability to plan and organise effectively and to work under pressure.
Time Inputs: The Head of Investment Unit will be employed full-time on a 3 year contract with possibility of extension.
If your career aspirations match this exciting opportunity, please forward your application letter and CV giving details of your qualifications and experience quoting IDAS/2013/06 IBUH on or before Friday 12 April 2013 to dasrecruit@kpmg.co.ke.
KPMG is a leading provider of professional services, which include audit, tax and advisory.
KPMG’s International Development Advisory Services Unit (IDAS) is based in Nairobi, Kenya and has adopted a pan-African approach to development work, employing full-time experienced development experts within the KPMG Africa team at our headquarters in Nairobi, together with a network of champions across the twenty countries of KPMG in sub-Saharan Africa.
In 2008, the Alliance for a Green Revolution in Africa (AGRA) contracted KPMG Development Advisory Services (KPMG DAS) to provide fund management services for the Africa Enterprise Challenge Fund (the AECF) through a competitive tender process. The AECF has developed into a US$200 million fund spanning several countries in Africa.
The AECF encourages private sector companies to compete for investment support for new and innovative business ideas that, while risky, will be commercially viable and have a large positive development impact on rural areas across Africa.
The AECF awards grants and interest free, non-recourse, loans (between US$250,000 and US$1.5m per business) to successful applicants after demand-led (call for applications) competitive bidding rounds.
The focus of the AECF is on agribusiness, access to financial services, renewable energy and adaptive climate technologies for people living in rural areas in general and for agriculture and agribusiness enterprises in particular.
By the end of February 2013, the AECF had 102 ongoing funded businesses in its portfolio, with a further 80 at contract stage (across 22 countries in sub-Saharan Africa).
The AECF is expected to grow substantially over the next few years.
The AECF has received funding from the Swedish International Development Agency (SIDA) to establish an Investment Brokerage Unit. KPMG IDAS wishes to secure the services of a senior investment manager to be Head of AECF Investment Brokerage Unit (IU), reporting to the AECF Director and based in the AECF Headquarters in Nairobi, Kenya.
Specific Terms of Reference
Purpose:
The purpose of this engagement will be to set up and manage the IU of the AECF which will pro-actively help the AECF to be more effective as a feeder fund for more commercial providers of debt and equity finance
In this regard, the IU will develop a sound understanding of the businesses funded by the AECF (about 180 by the end of 2103) and their financial needs beyond what is currently provided by the AECF.
In addition, the IU will develop a thorough knowledge of providers of debt and equity finance to the AECF’s sectors (agribusiness, renewable energy amongst others) and their conditions and requirements.
The IU’s major task will be to assist AECF funded businesses to obtain additional finance to grow their businesses.
The performance of the IU and its Head will be measured in terms of how many deals are brokered; how much money has been leveraged into AECF supported businesses (and other businesses) and how much development impact has been created from this additional money made available to these businesses.
Qualifications and experience
An undergraduate degree in finance, economics or related discipline (a post graduate degree or equivalent qualification in a related discipline would also be preferable), with at least 10 years experience in Investment Banking with, ideally, experience in lending to, or investing in, agribusiness in Africa (Sub-Sahara).
Empathy with the aims and objectives of impact investing and some knowledge of doing business in Africa (Sub-Sahara) would be valuable.
Skills and attributes
Capable of building and sustaining relationships with senior professionals across a number of sectors and countries.
Financial and analytical skills.
Professional attitude to work and a clear work ethic.
Ability to plan and organise effectively and to work under pressure.
Time Inputs: The Head of Investment Unit will be employed full-time on a 3 year contract with possibility of extension.
If your career aspirations match this exciting opportunity, please forward your application letter and CV giving details of your qualifications and experience quoting IDAS/2013/06 IBUH on or before Friday 12 April 2013 to dasrecruit@kpmg.co.ke.
Only the shortlisted candidates will be contacted.