Chief Financial Officer (CFO) – Renewable Energy Infrastructure

Company Overview

This company specializes in the development, financing, and ownership of solar energy projects targeting commercial & industrial clients, government ministries, and distribution companies across Nigeria and Sub-Saharan Africa. Their revenue streams feature commercial & industrial solar EPC and service contracts, government public-private partnership projects under long-term Power Purchase Agreements, and developer fees received at financial close for DFI-financed anchor projects. The anchor project aims at securing $10–15 million in Development Finance Institution (DFI) debt, targeting financial close within the first year. The company envisions expanding its platform across more than 17 African nations.

Role Summary

The Chief Financial Officer (CFO), reporting directly to the CEO, plays a critical leadership role with shared principal responsibility for the first year mandate. While the CEO leads commercial aspects, the CFO is fully accountable for capital raising and financial structuring efforts. This is a hands-on executive role that requires leading DFI negotiations, managing presentations to credit committees, driving Series A fundraising, and overseeing financial modeling and capital strategy. Additionally, the CFO manages financial operations, reporting, and compliance to ensure robust fiscal discipline.

Core Duties and Responsibilities

• Lead negotiations with DFIs such as IFC, AfDB, FMO, and Proparco independently.
• Present projects and proposals to credit committees as the financial authority.
• Drive fundraising efforts to close Series A funding rounds totaling $1–2 million within eight months.
• Construct and maintain comprehensive financial models and capital plans.
• Identify, apply for, and manage grants from sources like SEFA, REPP, GEAPP, and UKEF aiming to secure at least $500,000.
• Develop financial structures for Special Purpose Vehicles (SPVs), including cash flow arrangements, debt service reserve accounts, and equity returns ensuring bankability.
• Establish financial systems, controls, charts of accounts, and banking protocols promptly.
• Deliver accurate monthly management accounts within ten business days.
• Oversee payroll, tax compliance (including PAYE), pension regulations, and cost controls.
• Lead external audit processes and recruit finance team members, including a finance analyst.

Performance Milestones

• Within first 60 days: Establish financial controls and deliver initial monthly accounts; submit at least two grant applications; begin DFI discussions.
• By end of 2026: Complete anchor project financial model with Debt Service Coverage Ratio ≥ 1.30x and sensitivity analyses; finalize Series A financial models and investment memorandum; maintain active DFI engagements; initiate finance analyst recruitment.
• By March 2027 (Year-End): Secure DFI term sheet of $5-10 million; close Series A funding; obtain over $500,000 in grants; complete a clean first-year audit; achieve financial close on the anchor project targeting $10-15 million to the SPV.

Candidate Requirements

• At least 10 years of extensive experience in infrastructure, project, or development finance.
• Demonstrated success in raising capital on the developer or borrower side, ideally as a CFO or Finance Director.
• Proven track record closing energy/infrastructure projects funded by DFIs within Africa.
• In-depth knowledge of Nigerian financial regulations including FIRS, CBN, PENCOM, and CAC requirements.
• Advanced skills in project finance, creating SPV structures, and complex financial modeling.
• Must have led at least one full-cycle DFI debt raise with verifiable references.
• Professional certifications such as CFA, ACCA, ACA, ICAN, or equivalents are mandatory.
• Experience presenting independently to credit committees or investors and success in securing grant funds.

Compensation and Benefits

The monthly salary is ₦1,500,000. This role includes a 1.5% share of quarterly net profit after tax as a profit share component. Additional benefits comprise private health insurance covering the CFO and dependents, a company vehicle, professional development opportunities, supported travel for DFI engagement, plus 21 days of annual leave in addition to public holidays. Note that no equity stake is offered during the first year.

Recruitment Process

• Initial screening of applications.
• First interview lasting approximately 60 minutes.
• A financial modeling exercise requirement.
• Transaction presentation to panel.
• Final interview culminating in the offer.