CFO Tanzania

Job Description:

The company is a leading textile mill a limited firm and one of the largest manufacturing companies in East Africa.

The company is looking for a leader who can guide the financial systems that empower them The company and its affiliates are seeking a highly skilled and experienced Group Chief Financial Officer (CFO) to lead the financial backbone of the company. The role will be diverse, requiring a strong track record, exceptional skills, and the ability to execute financial strategies effectively. As the Group CFO, you will play a pivotal role in overseeing the financial operations of the company and its various divisions, analyzing new projects and investment opportunities, and ensuring operational efficiency. The CFO will have a day-to-day, ongoing impact on company operations, helping us to analyze, strategize, and grow our financial position. This seasoned strategist not only will understand current accounting practices and trends, but also will have experience raising capital and adapting to change, whether it’s through growth or reorganizing/rationalization. As a member of senior management, the CFO will be comfortable in a leadership role that requires clear and effective communication skills.

Objectives of this role

• Take responsibility (either directly or via staff) for all cash management, investments, insurance, budgeting, and financial reporting, as well as help drive the company’s financial strategy and hiring needs.
• Coordinate development of annual operating, capital, and program budgets, as well as reporting for the same.
• Ensure cash flow is compatible with operations by overseeing day-to-day accounting, recording, reporting, and internal-control activities of the organization.
• Develop and implement best practices and tools to ensure a well-controlled yet flexible organization that has strong fiscal management, project coordination, cross-team communications, and workflows.
• Comply with national and local financial requirements by studying existing and new legislation and taking appropriate action.

Key Responsibilities

• Lead the financial function of the company and its affiliates, overseeing the accounts of various divisions and ensuring financial stability.
• Work with senior managers to efficiently develop budget proposals, provide access to project finance information, and ensure contract/grant compliance and reporting.
• Analyze new projects and investment opportunities, assessing their viability and potential impact on the company's financial performance.
• Oversee the financial performance of the company's diverse operations, including textile and garments, plastics, packaging, recycling, mosquito nets, agricultural nets, and net houses.
• Develop and maintain financial policies, procedures, and controls to safeguard company assets and ensure compliance with regulations.
• Build and lead a high-performing finance team, fostering a culture of excellence, integrity, and accountability.
• Ensure timely and accurate financial reporting to stakeholders, management, and regulatory authorities.
• Research revenue opportunities and economic trends, analyze internal operations, and identify areas for cost reduction and process enhancement.
• Perform risk management through analysis of company liabilities and investments and evaluate and manage capital structure and fundraising initiatives.
• Oversee HR operations by coordinating with external service providers (ex: payroll, benefits, recruitment) and internal staff responsible for other aspects of HR.
• Monitor business performance with tracking tools, establish corrective measures as needed, and prepare detailed reports for earnings calls, management team, and the rest of the company.
• Manage finance personnel and oversee financial IT systems, ensuring compliance with relevant regulatory entities (ex: Financial Accounting Standards Board, Internal Revenue Service, state attorneys general).

Required skills and qualifications

• Five or more years of experience in executive leadership roles or Proven track record as a CFO or senior financial executive in a manufacturing environment.
• Excellent leadership skills, with steadfast resolve and personal integrity.
• Strong financial acumen and analytical skills with the ability to drive financial performance and operational efficiency.
• Experience in overseeing diverse financial operations and managing complex financial structures.
• Exceptional verbal, written, and visual communication skills.
• Understanding of advanced accounting, regulatory issues, and tax planning.
• Working knowledge of how to raise capital outside traditional lines of credit.
• Basic Swahili language knowledge is an advantage.

Preferred skills and qualifications

• Master’s degree (or equivalent experience) in accounting, business accounting, or finance.
• Professional certification (ex: Certified Public Accountant, CFA, or ACCA) is an advantage.
• Experience working in Tanzania or the African manufacturing sector is advantageous or international finance experience in manufacturing industry is an advantage.
• Experience in mergers and acquisitions and investor relations.
• Executive experience with SaaS business models and their associated revenue recognition.