Chief Financial Officer (CFO) Job Opportunity – Tugende

Organisation: Tugende
Duty Station: Kampala,
Reports to: Chief Executive
Officer (CEO)
About Us:
Tugende is a for-profit social enterprise that helps motorcycle taxi
drivers in Uganda own their own motorcycles via a fair, transparent lease-to-own
model instead of renting indefinitely. Ownership significantly increases
income, job security and road safety. Across Uganda and many other emerging
markets, motorcycles help drive the economy, mitigate traffic jams and bad
roads, and offer hundreds of thousands of jobs for those with little formal
education. Tugende is proving that millions of self-employed entrepreneurs can
receive credit to own the equipment they use to provide for their families,
even without credit histories, collateral, and in industries considered high
risk by traditional lenders. We currently serve over 3,943 customers in
Kampala, Mbarara, Jinja, and Mbale. We plan to expand to at least 10 locations
in Uganda over the next 1-2 years and then to regional neighbours which may
include Rwanda, Kenya, Tanzania and South Sudan.
Job Summary: The Chief
Financial Officer (CFO) will provide both strategic and operational support to
the organization and will provide input on all strategic and tactical matters
as they relate to budget management, forecasting needs and the securing of new
Key Duties and
  • Strategy & Planning: Play an
    active role in the formulation and execution of Tugende’s strategic
    • Work alongside other
      members of the Executive Management Team (CEO, COO) to develop and
      achieve the organization’s strategic vision including:
      • Developing regional and
        international expansion plans
      • Identifying business development
        opportunities (for example, launching new products and services,
        identifying acquisition targets, etc.)
      • Identify and report on areas
        of organization efficiency & inefficiency and recommend strategies
        for investing or divesting
    • Monitor the progress of the
      company in meeting its strategic goals:
      • Oversee the formulation of
        the annual budget / forecast as well as the long-term financial
        projection, both of which are based on the organization’s strategic
        goals and on economic forecasts
      • Report results vs. forecast
        on a regular basis, with an eye to both timeliness and accuracy
      • Identify areas of
        improvement across the business and work with relevant parties to
        implement them
      • Develop and maintain
        relationships with banks, lenders, investors, investment bankers,
        insurers, regulators, and outside analysts
Finance Operations: Oversee the day-to-day functioning of the
Finance department:
  • Supervise all finance personnel and
    directly manage team of financial controllers and financial analyst
  • Manage the finance components of the
    company’s systems and suggest improvement
  • Oversee the compilation of financial
    information into financial statements, and the presentation of this
    information to management, the board of directors, and the investment
  • Manage vendor relationships and provide
    input towards pricing and credit terms
Risk Management: Understand the current and potential risks to
which Tugende is subjected and take steps to mitigate them.
  • Improve internal control systems
  • Shift risk to other parties through
    insurance coverage
  • Report on risk issues to the Board of
  • Ensure that the business complies with all
    regulatory, legal, and tax requirements
  • Monitor legal issues involving the
    company, as well as legal issues impacting the entire industry
  • Review and act upon the findings and
    recommendations of internal and external auditors

Financing and Treasury Management: Monitor Tugende’s cash
position and arrange for additional funding, as necessary.
  • Monitor cash balances across all Tugende
    geographies and ensure cash flow is appropriate for the organization’s
    operations and to meet the organization’s goals
  • Evaluate the organization’s capital
    structure and recommend the short-, medium-, and long-term mix of debt
    & equity to maximize the organization’s value
  • Actively identify short-term investment
    opportunities by considering cash and liquidity risks and maximize return
    on invested funds
  • Develop the organization’s fundraising
    targets and arrange for financing to meet future cash requirements
  • Identify potential debt and equity
    partners including, but not limited to, angel investors, institutional
    investors, private equity and private wealth funds, and development
    finance institutions (DFIs)
  • Consolidate these disparate groups to
    secure large tranches ($20MM and above) of capital
Professional Development: Continually update finance-related
knowledge and skills by
  • Staying abreast of new regulations across
    all Tugende geographies
  • Participating in continuing education
    opportunities including both in-person events (e.g., conferences,
    seminars, etc.) and online courses
  • Reading professional publications
  • Maintaining personal networks
  • Participating in professional
Qualifications, Skills and
  • The applicant for the Tugende Chief
    Financial Officer (CEO) job placement should preferably hold a Bachelor’s
    degree in Accounting, Finance or relevant field; Possession of an MSc/MBA
    is an added advantage.
  • Professional accounting qualifications
    i.e. CPA / ACCA are desired
  • At least five to seven years of financial and
    management experience; managing the day-to-day financial operations of an
    organization of at least 50 staff persons.
  • Proven experience as CFO, finance officer,
    controller or relevant role
  • Raised debt or equity capital of at least
  • Significant experience in developing or
    expanding strategic business units or entire businesses
  • Excellent knowledge of data analysis and
    forecasting methods; an analytical mind, comfortable with numbers
  • Strong leadership and organizational
  • Previous experience working in similar
    lease-to-own / asset financing businesses is desired
  • East African national
  • Fluency in Luganda, Kinyarwanda, or
    Swahili will be advantageous
How to Apply:
All suitably qualified and interested candidates are encouraged to
apply online at the link below.
Deadline: 31st January 2018
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