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Chief Financial Officer

Vasari Global

Ethiopia

Vasari is an entrepreneurial and operationally led investor, that drives differential returns and growth in its businesses through significant human and financial capital gained through decades of operating experience.

Background:

Vasari Global, (VG), has several existing investments in Ethiopia, a brewery, alcohol distillery and biscuit manufacturer and is evaluating several additional prospective businesses.

VG is putting together a core executive team whose role it is to provide support in key operational and financial functions to the local operating companies. The office will be based in Addis Ababa but travel to the operational facilities in Ethiopia will be required.

One of the key roles required is that of VG CFO Ethiopia.

We are looking for an ex-patriate with significant experience in Africa and experience of Ethiopia will be a significant additional advantage. In most cases there are local partners / shareholders involved and the ability to communicate effectively and diplomatically with them is also of importance.

The Role:

This role is expected to be very much a hands on role, possibly across several operations with different shareholders.

Each Operation has its own local CFO and this role will involve closely mentoring, coaching and monitoring these CFO’s to produce timely, accurate and meaningful financial information for management.

In addition each operation has major capacity and diversification projects in progress. The VG CFO will be closely involved in the development of accurate project financial forecasts for the purposes of both project appraisal and leveraging of finance for the projects. He will also be responsible for monitoring and reporting of actual spend against these projects.

The VG CFO will:-

a) Ensure that first world quality financial and management information systems are put in place at all operations including:-
· Standard financial operating procedures
· Robust systems of internal financial controls
· Meaningful and timely Management Information Reporting including performance indicators across all cost centres and revenue generators.

b) Together with the Local CEO’s and CFO’s develop the financial strategies required to enable the operations to meet their overall strategic objectives.

Turn the strategic objectives of the company and the role of each operating department within that strategic plan into specific, measurable financial and operational performance indicators. This is a crucial aspect of the job.

c) Effectively manage the foreign exchange requirements of the operations ensuring that adequate exchange is available as and when required whether for operational of project needs. This will require accurate and timely forecasting of these requirements and close liaison with the banks in order to secure the currency.

d) Ensure that each operation provides accurate and timely cash flow forecasting information which is an essential requirement of the day to day running of the operations.

e) Oversee the implementation of internal audit functions at all the locations. Local experience is wanting here so previous experience of managing an internal audit function will be a definite benefit.

f) At all locations to develop and implement effective supply chain reporting systems right from sales rolling forecasts through to production planning and procurement planning so as to ensure all these companies always have adequate supplies of raw materials, packaging and finished goods to meet the demands of the market.

g) Develop relationships with the Investment bodies of Ethiopia and the senior members of the Tax Authorities to ensure that Vasari Global’s investments are receiving and making the most of the best available investment incentives

h) Develop relationships at the senior levels of the Commercial Banks with a view to ensuring that the operating companies’ requirements, particularly as regards availability of foreign exchange and working capital, are met.

In addition to the above the CFO may be required to give or support presentations to be given to the Boards of Directors of each operation.

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