GroFin is a leading development finance company that focusses exclusively on investing in small and growing businesses (SGBs) at the base of the SME pyramid. An entrepreneur-led business, GroFin was formally established in 2004 but grew out of the RAPS group of companies that has been investing in SMEs since 1999.
GroFin currently manages 7 funds on behalf of 25 international investors, development funders, banks, corporate and family foundations with committed capital in excess of USD350 million. We have on-the-ground local teams in 14 offices across 12 countries in Africa and the Middle East and have done around 450 investments in local small and growing businesses so far, creating more than 15,000 jobs.
GroFin invests in start-up and growing businesses at the base of the SME pyramid. These owner-operated businesses typically lack track record and collateral but are deemed viable with the appropriate business support. We invest through the integrated provision of business skills, market linkages and risk capital (US$100k – US$1.5m) and in ways that are financially sustainable. Our investments are typically structured as medium-term risk capital typically through a self liquidating ‘mezzanine’ instrument with repayment linked to the cash flow of the investee. We manage risk through on-the ground teams and proven investment and support processes and have adopted a fully integrated approach to responsible investment, with ESG considerations at each step of the investment process to maximise impact and mitigate risk.
The role’s key purpose is to create sustainable impact through serving entrepreneurs in the SME sector with risk capital and business support, helping them to realise their full business potential and achieve long- term success. The investment manager delivers tangible value to the SME clients and by doing so, achieves financial and impact returns on his/her transactions. A secondary purpose is to develop and share within the GroFin network knowledge and expertise in SME investment and support, including lessons learnt.
The position reports to the Investment Executive. Within the organisation, the position has primary working relationships with the in-country investment team. Externally, the IM works mostly with referral networks and clients.
Duties and Responsibilities
1. Deal referral networks (10%)
- Identify, develop and maintain deal referral networks
- Measure and report on the effectiveness of such networks
2. Transaction performance (40%)
- Identify prospect needs and effectively sell GroFin value offering to fulfil these needs
- Screen applications efficiently, applying the GroFin Viability Model and the investment strategy and policy framework.
- Analyse and thoroughly verify and cross reference key assumptions underpinning the business plan. Build the financial model and conduct a proper risk assessment. Maintain verification records in line with GroFin document management system
- Structure viable transactions in line with the GroFin investment and pricing policy and product parameters.
- Draft high quality, focused and concise screening and finance reports that allow for efficient decision making within agreed time frames.
- Restructure transactions that are viable and hand over those that are no longer viable
- Manage collateral and insurance policies
- Collect and record impact data and ensure data integrity, in line with GroFin impact data strategy and policy
3. SGB sustainability & growth (30%)
- Support the client in developing and implementing a robust business plan, financial plan and risk assessment and mitigation plan.
- Introduce ESG best practices and formalize business where appropriate and
- Support implementation of a financial management system that produces monthly management accounts
- Track performance of portfolio companies against the business financial plan. Identify any negative trends and deviations from the client’s operational and financial plan.
- Facilitate business linkages. Provide access to markets and business opportunities. Maintain a network of SME service providers.
- Follow up on all repayments due and make suitable arrangements to address potential arrears
- Keep abreast of all government legislations and regulatory requirements which may affect the operations of the portfolio companies
- Leverage GroFin’s expertise effectively for clients benefit
4. Client satisfaction (10%)
- Clearly communicate the GroFin value offering to clients and educate clients on the target market and risk appetite of the relevant fund.
- Act as a trusted advisor and soundboard to the entrepreneur
- Respond to all clients queries promptly and clearly
- Understand client’s needs first, before offering a solution
- Maintain a professional relationship with clients, based on trust and respect
- Inform clients regularly about the GroFin process and what is required
Investment Expertise & knowledge (10%)
- Share success, knowledge and experience among the team and the wider network (MyGroFin)
- Actively contribute to the team and collaborate within and across teams
Desired Skills and Experience
GroFin aims to develop long term relationships with its employees. We invest in our employees for the long term and offer a solid career in an organisation that is at the forefront of impact investment. Learning is part of the GroFin culture. Each employee, at every level, is conscious of the need to continuously raise her/his knowledge and skills. The willingness to learn is therefore a non-negotiable condition of employment.
Required experience, qualification and skills
- Investment or finance experience in SME investment, with a 3+ years of a demonstrated track record in investing or financing SMEs
- Advanced degree required. An MBA is preferred, as well as CFA or ACCA.
- Excellent financial and analytical skills.
- Good credit management skills
- Written and spoken language fluency in English essential.
Method of Application
Interested and suitably qualified candidates should click here to apply online.