Background on EIH 

The Ethiopian Investment Holdings (EIH) is Ethiopia’s first sovereign wealth fund which was established on January 31st, 2021, through the regulation The Definition of Objective Functions and Organization the Ethiopian Investment Holdings Council of Ministers Regulation No 487/2014

Its objectives are to (1) serve as a strategic investment arm of the government of Ethiopia, (2) contribute to sustainable economic development through professional management of its funds and assets achieving the optimal use thereof in accordance with international best practice and corporate governance principles, and to maximize the value for the benefit of current and future generations and to (3) provide a strategic vehicle to attract foreign investment by, among others, establishing a co-investment platform, consolidating assets for further monetization, unlocking values from current unutilized assets and thereby bring the highest. EIH manages 31 public commercial companies, with which it will exercise the ownership function of the GoE.

EIH is in the process of launching Subsidiary Transformation Program (STP) through which it will exercise active ownership and value-added support to subsidiaries. STP will include (a) horizontal initiatives through which it will instil best practices principles of the pillars of management and governance (b) vertical initiatives for company-specific transformation plans © central initiatives whereby EIH will revise core business or structure of subsidiaries.

 Objectives of the position

• The objective of this position is to provide technical expertise and project management support to STP finance functions of EIH subsidiaries.

• The aim of the finance initiative is to enable subsidiaries to have strong and effective financial management systems for informed and data-based strategic and commercial decisions, for compliance to national and international regulations and the disclosure and transparency requirements to all stakeholders. 

• The initiative has started with assessment of finance functions of SOEs from the perspective of the key value drivers and enablers. The Initiative Owner is therefore, expected to provide technical support and expertise in analyzing data from the assessment surveys and interviews, identify and prioritize major gaps in current practices across human resources (structure and staffing), standard processes and technology and propose solutions such as training and technical guidelines for subsidiaries and key stakeholders. The IO will also drive the initiatives by refining workplans, submitting progress report to the Chief Transformation Officer/ Advisor, and addressing feedback. 

• The Initiative Owner will be a member of STP’s Transformation Management Office (TMO)

• S/he will work closely with CTO/A of TMO, portfolio team and international experts to implement the Finance initiatives of the STP.

 Duties and Responsibilities of the role

• Assessment of the effectiveness of the finance functions of portfolio companies under EIH’s ownership.

• Review, validate, and analyse the data collected through the assessment process and identify gaps 

• Prepare assessment report with recommendations as to how EIH will intervene in bringing an effective and modern finance department.

• Organizational capability building by means of drafting policies and/or guideline and training and coaching to the staff and leadership of subsidiaries

• Monitoring effective implementation of suggested recommendations and action plans and their impacts to SOEs

 Reports to: Chief Transformation Advisor / Officer

 Salary and Benefit: As per EIH Salary scale 

Job Requirements

Required qualifications and competencies

• Bachelor’s degree in accounting or finance, business administration or similar fields is required 

• Master’s degree in accounting or finance or MBA OR International certification such as ACCA is highly desirable 

• At least 8 years of progressive experience in finance functions of a multinational or a national company with good reputation and operational excellence, including a minimum of 4 years as a senior manager

• Strong familiarity with IFRS and experience in conversation process 

• Deep knowledge of the key value drivers of finance functions 

• Track record as an active participant in digital transformation that supports internal control, risk management and financial and procurement management systems is desirable 

• Familiarity with at least two of EIH’s industry clusters which are transport / logistics, financial services, manufacturing, construction and real estate, financial services, hospitality, chemicals, energy and connectivity

• Excellent skills in generating analytical and technical documents in a business context. 

• Strong communication skills – written and verbal – including with people with diverse professional backgrounds 

• Excellent listening and engaging skills including the ability to read organizational and team dynamics with the objective of creating a culture of excellence in line with the organization’s mission.

• Positive can-do attitude, passionate and change management leader, working under pressure. 

• Understanding of Ethiopia’s macroeconomic context 

• Women are encouraged to apply 

Language requirements: 

• Fluency in English and Amharic is required. Knowledge of additional local languages is desirable. 

How To Apply

Interested applicants who fulfil the above requirements and want to join our dynamic and professional team should submit their updated CV and motivation letter (why they apply for the position) through email: talent@eih.et within ten (10) working days from the date of this vacancy announcement. 

 Please indicate the position you are applying for on the subject line.