Public Finance Institution Specialist at Creative Associates International – WATIH Project

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    Public Finance Institution Specialist

    • Job Type Full Time
    • Qualification BA/BSc/HND
    • Experience 10 years
    • Location Abuja
    • Job Field Finance / Accounting / Audit&nbsp

    Background

    • The USAID-funded West Africa Trade and Investment Hub Project (hereinafter referred to as the Trade Hub) is a five-year, $140 million trade and investment facilitation activity that seeks to improve private sector competitiveness in West Africa through a market-based approach. By working in partnership with the private sector and fostering co-investments, the project will generate new private-sector capital investment into key sectors to create jobs and increase trade between the U.S. and West Africa, including through increased utilization of the African Growth and Opportunity Act (AGOA). The project comprises of three main components:
      • Design and administration of a Co-Investment fund for private sector partnerships, including a portion for partnerships in Research and Development (R&D) towards innovating and modernizing practices in Nigeria across five targeted value chains;
      • Technical assistance (TA) that directly supports, coordinates, and engages with qualifying recipients (i.e., partners and grantees) to achieve USAID’s trade and food security objectives;
      • Urgently respond to the secondary economic impacts of COVID-19, notably to increase the access of working capital with financial actors, prevent job loss, and respond to supply shortages by scaling up local response.
    • Through this Co-Investment fund and technical assistance, the Trade Hub will improve companies’ abilities to expand business operations, increase productivity, and create jobs that build on the talents and aspirations of West Africa’s growing population. The Trade Hub will collaborate on specific commercial opportunities with firms, service providers, research organizations, as well as other business network actors to access private capital that will contribute to large-scale jobs, exports and investment, particularly with strong demonstrated or potential links to the U.S. companies and investors.

    Objectives:

    • The Trade Hub intends to co-invest in various SME funds (i.e. private equity, private credit, impact fund, venture capital, venture debt) and SMEs investing or operating in West Africa. Under the Prosper Africa initiative, the Trade Hub seeks to deepen, broaden, and extend the activities of the SME funds and SMEs in West Africa. Trade Hub believes the involvement of West African Public Finance Institutions (PFIs) is key in achieving this goal.
    • The Trade Hub seeks a PFI Specialist to establish partnerships with PFIs with the objective of mobilizing investments from the PFI(s) for SME funds and SMEs that are in the Trade Hub pipeline or portfolio.

    Specific Tasks and Deliverables
    The PFI Specialist will conduct the activity in three distinct phases:

    Phase 1 – Prospecting:
    Phase I assesses the investment interest from PFI(s) in SME funds and SMEs, and their capacity to execute with the Trade Hub within the investment timeframe of 2021-2023. The PFIs include but are not exclusive of the following institutions:

    • African Development Bank (“AfDB”)
    • African Export-Import Bank (“Afrexim Bank”)
    • African Finance Corporation (“AFC”)
    • Central Bank of Nigeria (“CBN”)
    • Development Bank of West Africa / Banque Ouest Africaine du Développement (“BOAD”)
    • ECOWAS Bank of Investment and Development (“EBID”)
    • ECOWAS Development Corporation (managed by Ecobank Transnational Inc.)
    • Islamic Development Bank (“IsDB”)

    Phase 1 Tasks:

    • Create a Prospect List of PFIs with the following data:
      • POC: Name, Position, Email
      • Investment Mandate: Formal and informal investment strategies (e.g. SME sizes, fund investments, geographic coverage, due diligence timing, etc.), investment products (e.g. credit products, equity products, hybrids, grants), and terms and conditions (e.g. collateral requirements, holding period, grace period, etc.)
    • Present Trade Hub representative(s) for introductory meeting
    • Co-assess the meetings and assign partnership probability and execution timing

    Deliverables:

    • PFI Tracker Excel Worksheet
    • Introductory Meetings
    • Investor Assessment Document: A compiled 1-Page Assessment of each PFI

    LOE:
    The estimated level of effort (LOE) is 7 business days to complete the following tasks.

    • PFI Tracker
    • Introductory Meetings
    • Investor Assessment Document

    Outcome:

    • If the Investor Assessment indicates that there is no interest among the PFIs to invest in the SME funds or the SMEs in Trade Hub’s pipeline or portfolio, then the Trade Hub will reassess the activity.
    • If the Investor Assessment indicates that there is credible interest among the PFIs to invest in the SME funds or the SMEs in Trade Hub’s pipeline or portfolio, but that the capacity to sign the investment agreement is beyond 2023, then the Trade Hub will reassess the activity..
    • If the Investor Assessment indicates that there is credible interest among the PFIs to invest in the SME funds or the SMEs in Trade Hub’s pipeline or portfolio, and that the capacity to sign the investment agreement is between 2021 and 2023, then Phase II will be considered by the Trade Hub.
    • The PFI Specialist must receive written confirmation from the Trade Hub to proceed with Phase II.

    Phase II – Investment Marketing:

    • Phase II initiates the marketing of the SME funds and SMEs in the Trade Hub’s pipeline and portfolio, detailing the preliminary terms and conditions suggested by the SME funds and SMEs.

    Tasks:

    • Prioritize the list of PFIs
    • Itemize the marketing materials required by PFIs
    • Prepare the marketing deal book comprised of SME Funds and SMEs
    • Distribute the deal book to PFIs
    • Co-present the deal book to PFIs
    • Track the PFIs
    • Collect feedback from the PFIs
    • Assess the feedback from the PFIs

    Deliverables:

    • Updated PFI Tracker
    • Deal Book PowerPoint Presentation
    • Investment Presentation (virtual or otherwise)
    • Investor Feedback Assessment Document

    LOE
    The estimated LOE is 14 days to complete the following tasks.

    • PFI Tracker
    • Deal Book
    • Presentation
    • Feedback Assessment

    Outcome:

    • If the Investor Feedback Assessment indicates that there is no interest among the PFIs to conduct due diligence on the SME funds or the SMEs in Trade Hub’s pipeline or portfolio, then the Trade Hub will reassess the activity.
    • If the Investor Feedback Assessment indicates that there is credible interest among the PFIs to conduct due diligence on the SME funds or the SMEs in Trade Hub’s pipeline or portfolio, but that the capacity to sign the investment agreement is beyond 2023 due to due diligence, then the Trade Hub will reassess the activity.
    • If the Investor Feedback Assessment indicates that there is credible interest among the PFIs to conduct due diligence on the SME funds or the SMEs in Trade Hub’s pipeline or portfolio, and that the capacity to sign the investment agreement is between 2021 and 2023, then Phase II will be considered by the Trade Hub.
    • The PFI Specialist must receive written confirmation from the Trade Hub to proceed with Phase III.

    Phase III – Structuring:

    • Phase III starts the introduction of the SME funds and SMEs in the Trade Hub’s pipeline and portfolio to the PFIs. The Consultant and Trade Hub will play a supporting role in negotiations if required.

    Tasks:

    • Co-introduce the SME Funds and SMEs
    • Advise the SME Funds and SMEs on how to address the needs of the PFIs
    • Negotiate on behalf of the SME Funds and SMEs

    Deliverables:

    • Closing Report: Description of the structuring activities, including key persons, key negotiating points, and key outcomes.

    LOE:

    • The estimated LOE is 21 days.

    Qualifications
    The PFI Specialist will adhere to the following qualifications:

    • Over 10 years of professional experience working with PFIs in West Africa with access to key investment decision making bodies;
    • Over 5 years of professional experience working with USAID-funded programs targeting increased trade and investment in the region;
    • Previous experience with previous iterations of the Trade Hub is preferable
    • Technical proficiency in Microsoft Office Suite (PowerPoint, Excel, Word)
    • Proficiency in French is mandatory

    Logistics and Reporting:

    • This assignment will be completed remotely and virtually until USAID indicate traveling to be safe. All travel must be pre-approved by the Trade Hub.
    • Anticipated commencement date: September 1, 2020
    • Anticipated end date: December 18, 2020
    • The PFI Specialist would be directly supervised by the PPP Director, but work closely with the Finance and Investment Specialist and Chief of Party.

    Method of Application

    Interested and qualified candidates should send their CV and Cover Letter as one document to: [email protected] using the Position Title and location as the subject of their email application.

    Note

    • Only finalists will be contacted. No phone calls, please.
    • Creative Associates International Inc. is an Equal Opportunity Employer: Disability/Veteran.
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