Associate/ Senior Associate, Counsel at Africa Finance Corporation (AFC)

Job Summary & Purpose

• The principal objective of the Legal Department is to protect the interests of the Corporation and ensure that the Corporation’s activities and operations are consistent with its constitutive and other legal instruments and sound legal principles.
• This role will involve providing legal services in respect of the Corporation’s investment transactions, treasury transactions, administration and other contracts.

Principal Duties and Responsibilities

• Investments - Project Finance, Debt, Equity and Project Development:
• Deal with the legal aspects of the Corporation’s investments and transactional matters, covering project finance, debt, equity and project development transactions;
• Structure transactions in a manner that is consistent with the mandate, policies and objectives of the Corporation and provide innovative and practical solutions to legal issues pertaining to the Corporation’s transactions and activities;
• Deal with the legal aspects of the credit approval process relating to transactions;
• Draft, review and negotiate term sheets, Memoranda of Understanding (MOUs), mandate letters, project agreements, financing and security agreements;
• Review conditions precedent and coordinate closing of the financing including perfection of security based on local jurisdiction requirements;
• Review and ensure that AFC’s Development Finance Institution (DFI), Environmental & Social Obligations and Sanctions provisions are reflected in all financings and that the relevant checklists are up to date;
• Ongoing monitoring and advising on legal issues arising from closed transactions from time to time.
• Deal with the legal aspects of facility agency and security agency roles relating to the Corporation’s transactions
• Deal with legal aspects of restructured and non-performing loans and assets

Treasury – Borrowing, Bond Issues & Derivatives:

• Review and negotiate mandate letters, terms sheets and facility agreements with respect to the Corporation’s borrowings from other development finance institutions and commercial banks;
• Coordinate and provide the conditions precedent for drawdown on the facilities;
• Provide legal services in respect of the Corporation’s Eurobond issues and placements under its Global Medium-Term Note Programme;
• Review and negotiate mandate letters for the joint lead managers, programme agreement, agency agreement, trust deeds, listing agreement, auditors’ comfort and arrangement letters in respect of the bond issue and its subsequent updates.
• Draft and review the legal opinions, base prospectus, conditions precedent and other offering documents for bond investors.
• Review and negotiate agreements and confirmations relating to various derivatives, hedge and repurchase transactions based on ISDA and GMRA.

Trade Finance:

• Draft, review and negotiate legal documentation for trade finance transactions including facility agreements, participation agreements, security agreements, legal opinions etc.;
• Conduct ongoing monitoring and provision of advice on legal issues arising from trade finance transactions.

Financial Advisory:

• Deal with the legal aspects of financial advisory mandates;
• Draft, review and negotiate legal documentation for financial advisory services including mandate letters;
• Ongoing monitoring and advising on legal issues arising from time to time.

Administration and General Operations:

• Draft, review and negotiate strategic alliance agreements, memorandum of understanding, collaboration agreements with AFC’s relationship counterparties;
• Review and negotiate human resources, administration, communications and information technology supply and services contracts;

AFC’s DFI Status:

• Ensure that AFC’s immunities and privileges are properly addressed and preserved in the Corporation’s various transactions and agreements;
• Work with local counsel in various AFC Member States in respect of the ratification of AFC’s constitutive documents following the respective State’s accession to AFC’s Establishment Agreement;
• Provide advice on general tax issues including researching and understanding the Corporation’s status under the Foreign Accounts Tax Compliance Act and advising accordingly;

Other:

• Manage the work of external law firms to ensure transactions are efficiently progressed at a reasonable cost;
• Deal with corporate secretarial matters;
• Perform any other duties that may be assigned by the line manager – Director, Legal and Acting General Counsel.

Minimum Qualifications

• Qualified Solicitor or Barrister
• Post qualification experience with a legal or financial advisory firm or financial institution
• Advanced degree in Law.
• Minimum of 4 - 6 years relevant experience
• French/civil law qualification and/or experience desirable.

Competency & Skills Requirement:

• In-depth knowledge and appreciation of project finance, debt, equity and borrowing transactions;
• Ability to conduct due diligence relating to financial transactions, i.e. project finance, structured finance and corporate finance;
• Good knowledge and understanding of the global legal framework (corporate and commercial law);
• Ability to think strategically and holistically and to appreciate the systematic impact of various legal policies, issues and solutions;
• Excellent written, drafting and oral communication skills;
• Ability to exercise independent judgment and provide practical legal advice;
• Excellent interpersonal skills and ability to work in a team with professionals from other disciplines;
• High ethical standards, impeccable integrity and a deep sense of fairness;
• Strong organizing, work planning and scheduling skills, capable of handling large volumes of assignments accurately and thoroughly while balancing several agendas; and
• Good appreciation and working knowledge of Microsoft Office tools.

Key Performance Indicators:

• Number of appropriately structured transactions.
• Quality of completed transactions.
• Value-added and timely response to requests from Project Specialists in accordance with KPIs.
• Responsiveness and turnaround times on legal work; 

Language(s):

• Fluency in written and spoken English is mandatory.
• Arabic, French or Portuguese would be desirable.