We have been retained by our client, CDH Investment Bank (CDHIB), who is working in conjunction with the Government of the Republic of Malawi (GoM) in the establishment of a private-sector led development finance entity to be called the Malawi Agricultural and Industrial Investment Corporation Plc (MAIIC) to recruit a suitable candidate for the position of Chief Executive Officer.
Background to the organization
A feasibility study commissioned by the GoM in 2013 showed that there was a great need for establishment of a development financial institution in Malawi. It was confirmed that there were significant financing gaps particularly in areas of infrastructure development and small and medium enterprises. The findings of this study have been confirmed by a recent feasibility study which was conducted in 2018. Following the updated feasibility report, GoM decided to pioneer in the establishment of an autonomous, sustainable and private-sector led development finance entity, in line with Malawi Growth and Development Strategy (MDGS) III which was officially launched on 13th March 2018. It is intended that the entity, working collaboratively with the existing banks and financial institutions, would be a source of capital for the underserved sectors of the economy thereby accelerating the country’s economic growth and development.
In view of this development, CDHIB and GoM entered into a Memorandum of Understanding on 3rd May 2018 to lead the implementation of this project, with full recognition and agreement that the entity shall be a vehicle for mobilising local and international financial resources to catalyse agricultural and industrial development. The establishment of MAIIC will be a ground-breaking partnership between Government, the private sector and international investors to play a leading role as a catalyst for socio-economic development, job creation and wealth creation in Malawi. Operating as a sustainable and commercially-driven entity. MAIIC will have a separate board of directors independent from government and any government agencies. It is the intention of GoM to limit its shareholding in the institution to 20 percent when it is fully capitalised.
Following from the above, a unique opportunity has arisen for a visionary, experienced, energetic and committed individual to assume the leadership of this new organisation as Chief Executive Officer (CEO). The position is based in Lilongwe, Malawi.
Reporting to the Board of Directors, the CEO will lead a small team of professionals and will work with several professional entities which will be outsourced to the entity to provide a wide range of financial and technical support products and services.
The Chief Executive Officer who will also be a managing director shall be a person of integrity and of the highest competence with internationally recognised qualifications and extensive practical experience in at least one of the following fields: banking, finance, economics, insurance, business, accountancy or commercial and corporate law.
The CEO shall hold office for an initial term of three (3) years and shall be eligible for reappointment at the recommendation of the Board of Directors for a maximum of two (2) further terms not exceeding three (3) years each in duration, after the initial appointment.
Eligible candidates for this position must have the following attributes:
- At least ten years’ relevant experience in a senior management capacity in a banking or development finance institution, preferably in an African environment, with in-depth knowledge of lending and investment products, risk management, legal and compliance requirements within the financial sector;
- Demonstrable capacity in product and service development;
- Demonstrable track record in capital raising and close links with local and international investors as well as development finance institutions;
- A sound understanding of the socio-economic development landscape in Malawi;
- Experience and a successful track record in implementation of business strategy;
- Professional reputation and a record of unquestioned professional integrity;
- Proven ability to provide both strategic and operational leadership to translate organisational goals and objectives into concrete outcomes;
- Proven communication and negotiation skills, networking abilities with a strong command of the English language as a means of communication; and
- Strong commitment towards socio-economic development goals of Malawi, with specific focus on the development and stimulation of entrepreneurship.
The position offers a remuneration package and benefits commensurate with its seniority, level of skills and experience.
How to apply
Interested persons who meet the minimum requirements outlined above may forward applications in person, by post or email to the address below, to be received no later than close of business on Monday, 3rd December 2018.
Applications must be accompanied by:
- A concise letter, outlining how the applicant meets the requirements for the position, and providing written consent to be subjected to whatever probity checks deemed necessary;
- A detailed curriculum vitae;
- Certified copies of academic qualifications;
- Certified copy of valid national identity document/passport; and
- Details of three contactable referees.
Please note that applications that do not meet all the requirements specified above will not be considered. Only shortlisted applications will be acknowledged.
Grant Thornton Consulting Limited
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