Program Manager At AECF
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Nairobi, Kenya
Job summary
Program Manager, Circular Economy at Africa Enterprise Challenge Fund (AECF)
About this role
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The Role
The Programme Manager will provide full-time leadership for AECF's circular economy investment and programme activities. The main focus will be on structuring, evaluating, and managing investments in private sector businesses, while also ensuring investment decisions incorporate sound circular economy principles.
The role involves leading a small team and working closely with the sector head, advisory, and programme teams. The Programme Manager will oversee the circular economy investment pipeline and portfolio, work plans, budget, and donor reporting.
The successful candidate will lead investment due diligence and financing structures, supervise portfolio performance and results verification under the results-based financing model, and engage ecosystem stakeholders to support circular economy financing and enterprise development across the programme countries.
The position reports to the Associate Director - Energy.
Key Responsibilities
Investment Leadership and Portfolio Management
Lead comprehensive investment due diligence for potential portfolio companies, reviewing their business models, financial strength, commercial growth potential, management capability, risks, and circular economy performance.
Develop and recommend suitable financing structures, including results-based repayable grants, blended finance, and other risk-sharing solutions based on enterprise requirements and investment risk.
Present investment proposals and recommendations to the investment committee and oversee the process from approval through to disbursement.
Manage the active investment portfolio by monitoring financial and operational performance, covenant compliance, and results verification under the results-based financing mechanism.
Programme Management and Coordination
Lead programme planning, budgeting, work planning, and reporting for the circular economy portfolio.
Supervise and guide programme staff and consultants, including technical specialists supporting circular economy activities.
Work with donors to coordinate work plans, deliverables, deadlines, and reporting requirements.
Track programme and portfolio risks and ensure investment and programme deliverables are completed on time and to the required standard.
Enterprise Advisory and Investment Readiness
Oversee the development and delivery of technical assistance and investment readiness initiatives designed to improve portfolio companies' performance and bankability.
Collaborate with circular economy specialists and the Advisory team to provide enterprises with relevant support in areas such as cleaner production, eco-design, sustainable packaging, recycling, repair and refurbishment, reverse logistics, material recovery, and resource efficiency.
Work closely with the ESG team to help enterprises strengthen their investment readiness, operational performance, and ESG practices.
Market Development and Knowledge Management
Engage financial institutions, industry associations, government agencies, and development partners to strengthen circular economy financing opportunities and investment pipelines.
Contribute to market research, development of investment cases, knowledge products, and programme learning activities.
Oversee monitoring, evaluation, and reporting, including development of investment and technical indicators and validation of financial, environmental, and circularity results.
Qualifications and Experience
Postgraduate qualification in Finance, Investment, Business Administration, Economics, Development Finance, or a related field.
Additional training or a background in Circular Economy, Environmental Engineering, Environmental Sciences, Sustainable Manufacturing, or a related discipline is an advantage but not mandatory.
At least 10 years of experience in investment, fund or portfolio management, private equity, venture capital, blended finance, development finance, or related areas, including experience investing in or supporting private sector enterprises in Africa.
Extensive experience in investment due diligence, structuring financing solutions such as grants, results-based financing, guarantees, or similar instruments, and managing investment portfolios.
At least 3 years of experience in programme management or team leadership, including responsibility for budgets and work plans.
Exposure to circular economy business models such as plastics and packaging, electronic waste, recycling systems, resource recovery, eco-design, or industrial symbiosis is preferred but not essential.
Candidates without direct circular economy experience may also be considered where they have strong investment expertise and demonstrate the ability to quickly develop knowledge of the sector.
Experience working on donor-funded programmes involving blended finance, results-based financing, or challenge funds is an added advantage.
Required Competencies
Strong investment and financial analysis capabilities, including due diligence, deal structuring, and portfolio management.
Demonstrated ability to manage programmes and teams, including planning, budgeting, and donor reporting.
Good understanding of blended finance, results-based financing, and enterprise development.
Working knowledge of circular economy principles and business models is preferred.
Excellent analytical, communication, and stakeholder engagement skills.
Ability to explain technical and financial concepts in practical business terms and collaborate effectively with multidisciplinary teams.