Finances Manager – Pharo Integrated Agriculture and Manufacturing PLC, Ethiopia

Company Overview

Pharo Ventures is the commercial, for-profit arm of The Pharo Foundation and has been set up to harness the power of a vibrant private sector by investing in enterprises across a variety of sectors within East Africa. The objective is to build and grow, commercially and environmentally sustainable businesses, with a focus on maximizing the creation of economic value and jobs for local communities.

We have a vision of an economically vibrant and inclusive Africa. Matching that vision is our ambition to create a portfolio of sustainable businesses across the region that provide superior products or services and increase the competitiveness of their sectors while creating thousands of new jobs. . We believe we can achieve our vision and ambitions by investing in the human and physical capital of Africa.

Headquartered in Nairobi, Kenya, Pharo Ventures has country offices in Ethiopia (Addis Ababa) and Somaliland (Hargeisa).

Position Summary

 We are recruiting for a Finance Manager of Pharo Ventures Ethiopia (the Company). The Finance Manager will oversee the Company’s financial management strategy, policies and procedures, manage all components of financial management, reporting, regulatory compliance, and sharing of financial information with all stakeholders both internal and external. S/he will also train staff in compliance, reporting, accounting requirements and internal processes.

To succeed in this role, s/he should demonstrate excellent leadership qualities and experience in modelling financial strategies. Suitable candidates should be proactive, dynamic Finance Managers accustomed to handling multiple tasks with marked attention to detail.

This is an excellent opportunity for those professionals looking to develop in one of the fastest-growing organizations in East Africa. 

Reporting: This role will have dual reporting lines to;

• Head Of Ventures Ethiopia
• Chief Financial Officer (CFO)-Pharo Ventures.

Functional Relationships: 

• Pharo Ventures Team in Ethiopia, which includes Finance, Operations and Marketing Leads
• Pharo Ventures Team in Nairobi, Kenya

Duties and Responsibilities:

Financial planning, accounting and reporting

• Develop strategies that work to minimize financial risks
• Advise on investment activities and providing strategies that the company should take
• Timely and accurate preparation of management and financial reports, audit and tax returns.
• Financial planning, including preparation of budgets, cash flow forecasts and implementing appropriate budgetary controls.
• Submit monthly and regular financial reports to Head Office in agreed formats and by agreed deadlines
• Ensure that a proper chart of accounts is developed and given to subordinates for implementation.
• Review the annual work plans and work closely with the departmental managers to ensure that the annual budgets are in line with these work plans.
• Review expenditure, budgets, salary updates, payroll, account maintenance and data entry for approval and processing
• Analyze costs, pricing, variable contributions, sales results and the company’s actual performance compared to the business plans.
• Analyze and review aged accounts and other accounts receivable and ensure timely recoverability from internal (staff) and external debtors.
• Ensure all payments conform to laid down procedures and recommend methods to improve cost-effectiveness.
• Ensure compliance with both local and (where applicable) international accounting principles as well as regulatory requirements and the Company’s Finance Manual.
• Manage financial record-keeping system including an updated record of all contracts’/agreements’ copies.
• Assist in proposal development, especially with regard to financial management requirements, budgets, etc.
• Establish a system of identifying recording and reporting errors/weaknesses; and locating/correcting them without undue delay

Overseeing Accounting Systems and Procedures

• Oversee the development and regular upgrade of financial systems and procedures as per applicable policies and procedures.
• Ensure compliance with taxation laws, including accurate computation, declaration and timely payment.
• Oversee the coordination and activities of the external and internal auditors and ensure all audit issues are resolved.
• With the Head of Ventures, develop and implement risk management policies maintaining appropriate internal control safeguards.
• Support strategic planning and business review process and provide guidance on financial strategy as a member of the company’s management team.
• Maintain relationships with service providers and other managers for timely and quality services at all times.
• Communicate to the staff of any changes and updates to the financial management processes and policies and continually monitor adherence to these laid down processes and policies.

Other Responsibilities

• Develop Finance Officers and Finance Assistants through training, coaching and mentoring
• Develop a professional finance team through timely communication, clarification of objectives, resource allocation, task definition, monitoring and modification procedures
• Conduct performance appraisal of the finance officers and finance assistants on a regular basis and within the laid down timelines provided by HR.
• Provide quarterly a detailed work plan for the finance team, with objectives and measurable results.
• Conduct weekly status meetings with the finance officers and finance assistants and ensure the team members are on track with regards to their deliverables
• Manage the CFO’s and General Manager’s expectations as laid out by them on a regular basis through weekly updates, quick responses to emails, addressing all queries within a reasonable timeline
• Provide financial technical assistance and advice to the technical teams as relates to construction accounting and management
• Prepare and maintain an up-to-date Asset Register for the company.
• Undertake special projects as assigned or initiated.

Qualification Requirements:

• Must be in possession of an undergraduate degree in accounting, finance, business or other relevant subjects.
• Must be a Certified Public Accountant (CPA) or hold an equivalent professional accounting qualification e.g. ACCA.
• Must have a minimum of ten (10) years of experience in financial management, with the ability to review, analyze and interpret budgets, financial management systems, financial statements and audit reports
• Must have a minimum of 5 years’ experience at a management position role
• Experience in the Manufacturing industry would be an added advantage although not mandatory
• Must possess excellent organization and project management skills and demonstrate an ability to manage complex and competing resource allocation requirements.
• Must have excellent writing, analytical and communication skills, good interpersonal skills
• Languages: Excellent English language skills essential

Key Competencies

• Ability to be creative and innovative in generating new ideas and undertaking research.
• Excellent interpersonal skills with the ability to manage sensitive and confidential situations with tact, professionalism, and diplomacy.
• High level of professionalism, work ethic, integrity and data collection analysis and reporting.
• Ability to work under pressure and meet deadlines.
• Excellent time manager who can balance multiple priorities.
• Excellent communicator and comfortable working in a team environment.
• Highly professional with good ethical standards.
• Positive, enthusiastic and willing to learn.
• Possess a ‘can-do’ attitude.
• Highly analytical, organized and a pragmatic professional who pays attention to details.