Program Manager, Circular Economy at Africa Enterprise Challenge Fund (AECF)

The Role

• The role holder will provide full-time investment and programme leadership for AECF's circular economy portfolio, with primary responsibility for structuring, appraising and managing investments in private sector enterprises, and secondary responsibility for ensuring those investment decisions are informed by sound circular economy principles. Leading a small team and working closely with the sector head, advisory and programme teams, the Programme Manager will manage the circular economy investment pipeline, portfolio, work plan, budget and donor reporting.
• The incumbent will lead investment due diligence and structuring, oversee portfolio management and results verification under the results-based financing mechanism, and represent the programme with ecosystem stakeholders to strengthen circular economy financing and enterprise growth across the programme countries.

This role will report to the Associate Director - Energy.

Key Responsibilities

Investment Leadership and Portfolio Management

• Lead end-to-end investment due diligence on prospective portfolio companies, assessing business models, financial viability, commercial scalability, management capacity and risk, alongside circular economy performance.
• Structure and recommend appropriate financing instruments — results-based repayable grants, blended finance and other risk-sharing mechanisms — tailored to enterprise needs and investment risk.
• Present investment recommendations to the investment committee and manage the approval-to-disbursement process.
• Oversee active portfolio management, including monitoring financial and operational performance, covenant compliance, and results verification under the results-based financing mechanism.

Programme Management and Coordination

• Manage the planning, budgeting, work planning and reporting of the circular economy programme.
• Supervise and provide guidance to programme team members and consultants, including technical circular economy specialists supporting the portfolio.
• Coordinate with donors on work plans, deliverables, timelines and reporting requirements.
• Monitor programme and portfolio risk, ensuring timely, quality delivery of investment and programme outputs.

Enterprise Advisory and Investment Readiness

• Oversee the design and delivery of technical assistance and investment readiness support to strengthen portfolio companies' performance and bankability.
• Work with technical circular economy specialists and the Advisory team to ensure enterprises receive appropriate guidance on cleaner production, eco-design, sustainable packaging, recycling, repair and refurbishment, reverse logistics, material recovery and resource efficiency.
• Work closely with the ESG team to support enterprises in improving investment readiness, operational performance, and ESG practices.

Market Development and Knowledge Management

• Lead engagement with financial institutions, industry associations, government agencies and development partners to strengthen circular economy financing ecosystems and pipeline development.
• Contribute to market research, investment case development, knowledge products and programme learning.
• Oversee monitoring, evaluation and reporting, developing investment and technical indicators and validating financial, environmental and circularity results.

Qualifications and Experience

The successful candidate should:

• Hold a postgraduate qualification in Finance, Investment, Business Administration, Economics, Development Finance or a related discipline; a background or additional qualification in Circular Economy, Environmental Engineering, Environmental Sciences, Sustainable Manufacturing or a related discipline is an added advantage but not a requirement.
• Have at least ten (10) years' experience in investment, fund/portfolio management, private equity, venture capital, blended finance or development finance, including experience investing in or supporting private sector enterprises in Africa.
• Have substantial experience conducting investment due diligence, structuring financing instruments (grants, results-based financing, guarantees or similar), and managing an investment portfolio.
• Have at least three (3) years' experience in a programme management or team leadership role, including budget and plan management.
• Prior knowledge of or exposure to circular economy business models — plastics and packaging, electronic waste, recycling systems, resource recovery, eco-design or industrial symbiosis — is preferred but not required; candidates without direct circular economy experience but with strong investment credentials and a demonstrated ability to build sector knowledge quickly are encouraged to apply.
• Experience working on donor-funded programmes involving blended finance, results-based financing or challenge funds will be an added advantage.

Required Competencies

The successful candidate will demonstrate:

• Strong investment and financial analysis skills, including due diligence, deal structuring and portfolio management.
• Proven programme and team management skills, including work 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, with the ability to translate technical and financial concepts into practical business solutions and work effectively in multidisciplinary teams.