Coverage Manager at British International Investment

Team and role overview

• As part of our ongoing strategy, BII is working to expand its local presence in Africa and Asia. Having more local staff will help us identify more and better investment opportunities, support our portfolio management efforts and improve our ability to engage with local stakeholders.
• In Africa, BII currently has offices in South Africa, Kenya, Nigeria, Ghana, and Egypt. These offices are complemented by Country Representatives in Ethiopia and Zimbabwe. The role being recruited is Coverage Manager reporting to the Head of South Africa and Coverage Director.
• Based in the South Africa office, the individual will be part of the Africa Coverage Team with primary focus on the southern Africa region, which in this instance, includes South Africa, Lesotho, Eswatini, Botswana, Mozambique, Angola; Zimbabwe, Zambia and Malawi. Day-to-day duties will include originating potential investment opportunities, providing portfolio management support to BII’s London-based investment teams and supporting the Coverage Directors in building key stakeholder relationships.

The Coverage manager will provide in-country support focused on:

• Working with both in-country and London-based investment teams to drive BII’s origination, deal execution and portfolio management efforts across sectors and products
• Gathering, analysing and disseminating critical data/information on macroeconomics, national development agenda, domestic politics, investing environment, promoter backgrounds, etc
• Supporting the Coverage Directors in managing all BII’s stakeholders including but not limited to the in-country FCDO, other UK government related teams, DFI/MFI counterparts, local government and media as appropriate
• The individual will be expected to visit BII’s London headquarters regularly (Covid permitting), and to participate in internal discussions, including via videoconference. S(he) will also be expected to contribute regularly to internal BII communications (e.g., blog post, internal presentation) and attend BII events as needed.
• The individual will be a full-time employee based in South Africa as part of the Africa Coverage Team and will report to BII’s Head of Office, South Africa and Coverage Director.

Responsibilities

The individual will carry out the following activities on behalf of BII, directly or in support of the Coverage Directors in the southern Africa region:

Regional Support

• Develop BII country perspectives that articulate the macro dynamics and national development priorities as input into the deal teams and to support IC discussions
• Provide periodical updates on in-country sector developments and key transactions
• Gather, process and share relevant local intelligence to help deal teams see opportunities earlier, make more informed decisions and manage portfolio risks effectively
• Market mapping and visit support
• Map the leading local businesses and top promoter groups across sectors that BII can be associated and do business with
• Provide local insight into market mapping exercises conducted by the in-country and London deal teams
• Support deal teams by coordinating in-country activities and creating joint visit opportunities (e.g., country roadshows on a theme or sector)
• Develop a network of sector experts that can provide regular local insight and be a potential source for BII portfolio company Executives/NEDs/Advisers

Deal Origination

• Originate proprietary deals across all BII sectors and direct equity and debt investment products
• Understand BII’s sector team strategies and participate in relevant pipeline discussions
• Build relationships with transaction-related intermediaries (e.g., investment banks, advisers, Big 4) to source high-quality investment opportunities

Execution Support

• Assist deal teams during deal due diligence and execution (e.g., with business integrity checks, development impact theses, local regulations, etc)
• Recommend local consultants and advisers who can provide additional support as needed

Portfolio Management Support

• Assist the deal teams with portfolio company management activities as required (e.g. monitoring performance/identifying early warning signals, guiding on troubled investments, etc)
• Assist with implementation of the post-investment action plans developed by Development Impact (DI), Environmental and Social Governance (ESG-I), Business Integrity (BI) and value creation strategies (VCS) teams.

Brand-Building and Stakeholder Management

• Increase BII’s visibility and thought leadership locally by attending and hosting relevant local events, developing relationships with local business media outlets
• Build and maintain relationships with UK stakeholders (FCO/DIT; UK plc; British Chamber of Commerce), other DFI/MFIs and the in-country international development community
• Build and maintain relationships with local stakeholders including government, regulators and investment promoters to gather intelligence and support BII’s investment activities
• Represent BII and communicate our achievements during visits by UK government representatives

The Candidate

Background

• MBA (focus on Finance) or equivalent post-graduate professional qualification in a Finance-related field
• Significant and relevant experience working in a private sector led business and/or an investment institution in Africa
• Significant experience working in commercial banking, corporate finance, investment banking, private equity, M&A and investment advisory and/or investment management
• Relevant experience and knowledge of working across the Southern Africa region
• Proven track record of originating equity, debt and/or mezzanine deals within the local market
• Existing relationships within the local business, investment banking, lending, DFI, MFI and PE communities
• Experience engaging with and managing external stakeholders, such as local government entities and development agencies
• Experience working with international development institutions (World Bank, IMF, African Development Bank, etc.) and/or relevant UK government departments (FCDO, DIT)

Technical Skills

• Strategic, analytical and problem-solving skills
• Commercial judgment and ability to assess risk and opportunity in potential investments
• Gravitas to represent BII on the ground, and to interact effectively with promoters, management, government, prospective business partners, etc.
• Strong people skills, with the ability to network and develop productive relationships locally

Aptitude

• Ability to relate effectively with senior business leaders, to get BII into the right investment discussions and to prepare the ground for BII’s investment teams
• Ability to work to deadlines and manage multiple projects effectively
• Outstanding business communication skills in English, including written, verbal and presentation. Comfort communicating with all levels of management internally and externally
• Experience working collaboratively as part of a team, facilitating information-sharing and organisational learning, with the capability and perseverance to work in a small team
• Ability to operate independently with minimal supervision and limited on the ground support
• Candidates should be strongly motivated by BII’s development mission and ideally demonstrate some commitment to development or social goals through previous executive or non-executive activity.