Principal Investment Officer at African Development Bank - AfDB

Position Number: 50093618
Position Grade: PL4

The Complex

• The Vice Presidency for ‘Agriculture, Human, and Social Development’ is a Sector Complex focusing on the Bank’s Ten-Year Strategy High 5s priority of “Feed Africa” and “Improve the Quality of Life for the People of Africa”.
• The complex objectives are (i) to develop, policy and strategy; (ii) provide deep sector expertise to the Regions by gathering pools of experienced individuals who can be consulted to provide sector expertise on complex transactions; (iii) develop new financing instruments; (iv) boost, prepare and supervise private sector operations, (v) the VP will act as the spokesperson to represent the Bank with external stakeholders on aspects of “Feed Africa” and “Improve the Quality of Life for the People of Africa”.

The Hiring Department / Division

• The Water Development and Sanitation Department is responsible for the coordination of the Bank's water development and sanitation-related activities to enhance synergies and contribute to the achievement of all High 5s (Light Up and Power Africa, Feed Africa, Industrialize Africa, Integrate Africa, and Improve the Quality of Life for the people of Africa).
• The water sector is technically governed by the recently developed Bank policy of water as well as the Bank’s Water strategy (2021-2025).
• Through its three Divisions: AHWS.1 for Water Coordination & Partnership as well as Water Security and Sanitation Division (covering Western Region), AHWS.2 for Water Security and Sanitation Division (covering Southern and Easter Regions as well as Non Sovereign Operations across the continent), AHWS.3 for Water Security and Sanitation Division (covering Central and Northern Regions) and the African Water Facility (AWF), the Department (i) supports regional hubs in the development and promotion of new knowledge, approaches and tools for green and inclusive water resources development and management, and for improved sanitation and (ii) drive the private sector activities related to water and sanitation.
• In so doing, the Department leads the scaling-up of the Bank's contribution to Africa's efforts to attain water security and sanitation for sustainable socio-economic transformation.
• The Water Security and Sanitation Division (covering the Southern and Eastern Regions and Nigeria as well as Non-Sovereign Operations across the continent) (AHWS.2) works in tandem with AHWS. 3, AHWS.1, and the AWF to provide the Bank thought leadership for water development and sanitation in Africa.
• The Department plays a lead role in supporting Africa to attain water security through the provision of technical expertise, generation and dissemination of pertinent sector knowledge and fostering strategic partnerships. Specifically, in line with the Bank mandate, the Department provides guidance in the following thematic areas, among others: (i) Integrated & Transboundary Water Resources Development and Management for Water Security; (ii) Water Supply for All; (iii) Sanitation for All; and, (iv) Water Sector Governance; as well as the cross-cutting areas including gender, climate change, private sector engagement and fragility.

The Position

• The Principal Investment Officer, reporting to the AHWS.2 Division Manager, is responsible for ensuring (i) thought leadership and (ii) the technical strength of the Bank’s activities in support of transactions linked to private sector investments in the water and sanitation sector.
• The main task of the job holder will be to identify business opportunities and execute transactions related to private investments in the water and sanitation value chain, as well as process financing instruments through to board approval and financial close of IWP projects or the like and corporate loans.
• In so doing, the position will contribute to the attainment of the continent’s water supply agenda and related objectives of Sustainable Development Goals (SDGs) including attaining water for all and ensuring sustainable and viable water systems towards improved quality of life for the people of Africa.

Key Functions
Under the overall supervision of the Manager Water Security and Sanitation Division, the incumbent will be responsible for the following:

• Implement the work program of the Water Development and Sanitation department, including the five strategic pillars of the water strategy 2021-2025, Water Supply for All and Sanitation for All, by promoting new financing innovative products, and mobilising new sources of financing.
• Lead/Participate in the structuring of projects involving public and private sector participation (e.g. in the form of IWP, project finance operations and corporate loans) in close coordination with AHWS colleagues and the ecosystem.
• Review project documents, including shareholders’ Agreement, Concession Agreements, Water Purchase Agreements, Engineering Procurement and Construction (EPC) Contracts, Operations and Maintenance (O&M) Agreements, etc.
• Have a thorough understanding of the water and sanitation value chain including utilities, water and sanitation markets, major operators and technologies.
• Contribute towards developing a strong pipeline of good quality investment opportunities through anticipating market trends and employing sector/country knowledge.
• Evaluate, structure, negotiate, and close new transactions, capital markets solutions etc.
• Develop innovative and appropriate financial structures for complex transactions.
• Lead/participate in negotiation of finance documentation, develop financial solutions and overcome bottlenecks in the transaction life cycle.
• Drive new business development and resource mobilization for water development and sanitation financing with relevant departments of the Bank as well as sovereign, multilateral, bilateral, financial institution and private sector partners.
• Establish synergies between the Bank’s various initiatives in the water sector with the Bank’s other flagship programmes.
• Establish and maintain strategic collaboration with relevant partners in the area of water development and sanitation financing for the sector.
• Organize water development and sanitation financing seminars, make presentations, and represent the Bank in relevant events.
• Identify non sovereign operations to support attainment of water sector related SDGs.
• Provide thought leadership and lead complex preparation and appraisal of public-private partnership (PPP) projects.
• Contribute to complex project identification, preparation and appraisal for Bank Group financing.
• Evaluate, structure, negotiate, and close transactions for water development and sanitation
• Develop innovative initiatives to close financing gaps for the development of major water/sanitation operations.
• Provide support and expertise to regional directorates for non-sovereign operations in the water development and sanitation.
• Lead/Participate and manage project teams, mentor and develop junior staff / Consultant / Sovereign Operations’ colleagues within the Department.
• Perform any other duty assigned by the Division manager or Director.

 Requirements

• Hold a minimum of a Master's Degree in Business Administration, or Development Finance, Economics, or related field; relevant qualification in investment appraisal and project finance such as: Chartered Financial Analyst (CFA), Chartered Accountant (ACCA) related fields is a plus;
• Have a minimum of six (6) years relevant working experience in financial structuring in the water and sanitation value chain gained from within a Commercial/Investment Bank, Development Finance Institution, Water Utility, Infrastructure/Private Equity Fund, Sovereign Wealth Fund, Water/Sanitation Project Developer, etc.
• Good working experience with, or working knowledge of, multilateral or bilateral development agencies.
• Experience of Multi-lateral development banks (or similar financing institutions) and their operations in terms of private and/or public sector project development and implementation process;
• Proven ability to identify, process and negotiate complex transactions in the water and sanitation sector from a private sector standpoint and in particular related to Independent Water Producers (IWP) investments and corporate financing
• Experience with a broad range of financing and implementation modalities including but not limited to loans, equity, guarantees, Public Private Partnerships.
• Competencies in strategy development and implementation.
• Very good understanding of Finance and business, especially utility financing issues, trends and opportunities in Africa.
• Recognized ability to identify and articulate finance, corporate finance and project finance issues and to provide sound advice.
• Demonstrated ability to think strategically, and to prepare, analyze, review and disseminate knowledge products with easy uptake and that add value in financing water development and sanitation.
• Client orientation - Anticipates and identifies client needs and business trends and proactively consults with them to deliver integrated, customized solutions.
• Ability to communicate effectively (written and oral) in English AND French.
• Competence in the use of standard Microsoft Office applications (Word, Excel, Access, PowerPoint).