Program Manager, Circular Economy

The Program Manager will lead AECF's circular economy portfolio, overseeing investments and program execution. This involves structuring, appraising, and managing investments in private sector enterprises, ensuring decisions align with circular economy principles. The manager will lead a small team, manage the investment pipeline, portfolio, budget, and donor reporting. Key responsibilities include leading investment due diligence, structuring financing instruments, overseeing portfolio management and results verification, and representing the program to stakeholders to foster circular economy financing and enterprise growth across program countries. The role reports to the Associate Director – Energy.

1. Lead end-to-end investment due diligence on prospective portfolio companies, assessing business models, financial viability, commercial scalability, management capacity, risk, and circular economy performance.
2. Structure and recommend appropriate financing instruments, such as results-based repayable grants, blended finance, and other risk-sharing mechanisms, tailored to enterprise needs and investment risk.
3. Present investment recommendations to the investment committee and manage the approval-to-disbursement process.
4. Oversee active portfolio management, including monitoring financial and operational performance, covenant compliance, and results verification under the results-based financing mechanism.
5. Manage the planning, budgeting, work planning, and reporting of the circular economy program.
6. Supervise and provide guidance to program team members and consultants, including technical circular economy specialists supporting the portfolio.
7. Coordinate with donors on work plans, deliverables, timelines, and reporting requirements.
8. Monitor program and portfolio risk, ensuring timely and quality delivery of investment and program outputs.
9. Oversee the design and delivery of technical assistance and investment readiness support to strengthen portfolio companies’ performance and bankability.
10. Work with technical circular economy specialists and the Advisory team to ensure enterprises receive appropriate guidance on cleaner production, eco-design, sustainable packaging, recycling, repair and refurbishment, reverse logistics, material recovery, and resource efficiency.
11. Collaborate with the ESG team to support enterprises in improving investment readiness, operational performance, and ESG practices.
12. Lead engagement with financial institutions, industry associations, government agencies, and development partners to strengthen circular economy financing ecosystems and pipeline development.
13. Contribute to market research, investment case development, knowledge products, and program learning.
14. Oversee monitoring, evaluation, and reporting, developing investment and technical indicators and validating financial, environmental, and circularity results.

1. Hold a postgraduate qualification in Finance, Investment, Business Administration, Economics, Development Finance, or a related discipline; a background or additional qualification in Circular Economy, Environmental Engineering, Environmental Sciences, Sustainable Manufacturing, or a related discipline is an added advantage.
2. Possess at least ten (10) years of experience in investment, fund/portfolio management, private equity, venture capital, blended finance, or development finance, including experience investing in or supporting private sector enterprises in Africa.
3. Have substantial experience conducting investment due diligence, structuring financing instruments (grants, results-based financing, guarantees, or similar), and managing an investment portfolio.
4. Demonstrate at least three (3) years of experience in a program management or team leadership role, including budget and plan management.
5. Prior knowledge of or exposure to circular economy business models (e.g., plastics and packaging, electronic waste, recycling systems, resource recovery, eco-design, or industrial symbiosis) is preferred but not required; candidates with strong investment credentials and a proven ability to quickly build sector knowledge are encouraged to apply.
6. Experience working on donor-funded programs involving blended finance, results-based financing, or challenge funds is an added advantage.
7. Strong investment and financial analysis skills, including due diligence, deal structuring, and portfolio management.
8. Proven program and team management skills, including work planning, budgeting, and donor reporting.
9. Good understanding of blended finance, results-based financing, and enterprise development; working knowledge of circular economy principles and business models is preferred.
10. Excellent analytical, communication, and stakeholder engagement skills, with the ability to translate technical and financial concepts into practical business solutions and work effectively in multidisciplinary teams.