Aecf Investment Committee Members

About Us

AECF (Africa Enterprise Challenge Fund) is a leading non-profit development organization supporting innovative agribusiness and renewable energy enterprises to reduce rural poverty, promote resilient communities, and create jobs.
We catalyze the private sector by surfacing and commercializing new ideas, business models, and technologies designed to increase agricultural productivity, improve farmer incomes, expand clean energy access, reduce greenhouse gas emissions, and improve resilience to the effects of climate change. We finance high-risk businesses that struggle to access commercial funding. We are committed to working in frontier markets, fragile contexts, and high-risk economies where few mainstream financing institutions dare to go.
Over 17 years, we have supported 698 businesses in 26 countries in Sub-Saharan Africa, impacted more than 36 million lives, and US$916 million in leveraged capital.

Objective and Scope of the Service
The AECF Board, through its Board Program Committee (BPC), has established an Independent Investment Committee (IC)to strengthen the quality, independence, and efficiency of investment decision-making. The BPC has delegated its authority to the IC, which provides technical review and approves AECF’s investments in line with AECF’s mandate, investment strategy, and donor requirements.
The AECF is seeking highly qualified, strategic, and impact‑driven professionals to join its ICs for the Agribusiness and Renewable Energy portfolios. These committees play a critical role in shaping AECF’s investment decisions across Sub-Saharan Africa, ensuring that innovative early‑stage enterprises receive the catalytic capital and guidance needed to deliver sustainable development impact.
We invite applications from seasoned experts with strong investment experience, robust governance credentials, and deep knowledge in either the agribusiness or renewable energy sectors.

Mandate and Core Responsibilities
IC Members serve in an independent, non-executive capacity and are collectively responsible for providing objective, rigorous, and timely investment decisions and recommendations. In discharging their mandate, members are expected to apply sound commercial judgment, development finance expertise, fiduciary discipline, and impact-oriented thinking in evaluating proposed investments. The IC shall:

3.1 Align to the ACEF Vision, Mission, and Mandate
Demonstrated understanding of, and commitment to, continuously deepening knowledge of AECF’s mandate, the role and responsibilities of the IC, and evolving trends in the investment environment to support sound and informed decision-making.
3.2 Strategic and Policy Oversight

• Adhere to and uphold the IC’s governance framework, including the Investment Charter, Terms of Reference, and the Investment Policy Statement (IPS).
• Provide programmatic and strategic input on the AECF Investment Charter, Portfolio Management Policy, and processes, and any other relevant governance documents relating to this scope of work.
• Recommend improvements to investment processes, tools, and governance frameworks.
• Monitor compliance and report to the BPC any deviations and recommend remedial action or any desirable changes to be made.

3.3 Investment Review and Decision Making

• Review and approve or decline investment proposals in line with the AECF Investment Charter, Portfolio Decision Matrix, and approved Program Term Sheets.
• Assess commercial viability, developmental impact, additionality, and risk-return balance of proposed investments.
• Approve investment instruments, structures, and key terms, including grant/repayable mixes, co-investment arrangements, conditions precedent, and repayment terms, where applicable.
• Request additional due diligence, external expert input, or clarifications from Management where required.

3.4 Portfolio Risk and Performance Oversight

• Provide oversight on portfolio risk, performance, and concentration, advising Management and the BPC on key risks and mitigants.

3.5 Governance, Ethics, and Compliance

• Uphold the highest standards of integrity, independence, and confidentiality.
• Declare and appropriately manage any actual or perceived conflicts of interest.
• Ensure compliance with applicable laws, donor requirements, and AECF governance documents.

3.6 Reporting and Engagement

• Participate actively in IC meetings (virtual and/or in-person) and decision-making processes.
• Review and approve IC meeting minutes and decision records.
• Support transparent reporting of IC decisions and rationale to the BPC.

3.7 Authority, subject to Board approval.

• Changes to the Investment Policy Statement.
• Changes to the IC Charter.
• Changes to the IC Terms of Reference.

3.8 Administrative and Other Responsibilities

• Participate in the annual review of the Investment Committee Charter and Investment Policy Statement (IPS) and recommend any amendments to the BPC for approval.
• Attend and contribute to IC meetings as required, and support the review of clear, well-reasoned meeting minutes and reports that document the rationale for investment decisions, which will be submitted to the BPC periodically.
• Support the maintenance of complete and auditable records of all investment-related documentation.
• Provide independent input on the effectiveness and performance of the investment team, investment functions, and investment processes.
• Contribute to and review the annual performance evaluation of the Investment Committee, and support reporting of the results to the BPC in line with the IC Charter.
• Maintain open, constructive communication among IC members, AECF Management, and the BPC.
• Perform such Other Duties required by law and/or to further the IC's purpose and as the BPC may reasonably assign from time to time.

4. Investment Committee Member Profile
4.1 Agribusiness
AECF seeks a forward‑thinking investment professional with deep expertise in African agribusiness. The successful candidate will bring strong analytical capability, commercial insight, and 10 years’ experience supporting SMEs operating across complex agricultural value chains.

Key Qualifications

• Investment Expertise: Strong track record evaluating early‑stage SMEs, including financial modelling, valuation, risk assessment, and growth forecasting.
• Agribusiness Sector Knowledge: Experience across production, processing, value‑addition, distribution, and market systems in Sub‑Saharan Africa.
• Scaling & Portfolio Support: Ability to evaluate the scalability prospects of SMEs by reviewing strategic, operational, market, and regulatory considerations, and provide independent guidance to support sound investment judgments.
• Demonstrated experience assessing enterprises financed through blended capital structures, including grant, repayable grants, concessional loans, and other instruments designed to de-risk early-stage businesses.
• Impact & ESG: Understanding of impact measurement, ESG standards, climate‑risk considerations, and gender lens investing.
• Governance Experience: Prior service on investment committees, credit committees, or boards, with strong ethical standards and conflict‑of‑interest management.
• Risk Management: Ability to assess investments in fragile, remote, or climate‑vulnerable contexts.
• Networks: Strong professional networks across agribusiness, DFIs, donors, government agencies, and private sector stakeholders.
• Personal Qualities: Independent judgment, integrity, constructive challenge, and strong communication skills.

4.2 Renewable Energy
AECF seeks a seasoned investment professional with strong expertise in clean energy markets and early‑stage renewable energy enterprises. The ideal member will bring 10 years’ experience in sector understanding, financial rigor, and a commitment to expanding energy access and climate‑resilient solutions across Africa.

Key Qualifications

• Investment Expertise: Significant experience assessing early‑stage and growth‑stage companies, including corporate/project finance, financial modelling, risk assessment, and investment structuring.
• Renewable Energy Knowledge: Familiarity with distributed renewable energy solutions, productive‑use technologies, clean cooking, mini‑grids, and emerging climate technologies.
• Scaling & Portfolio Support: Experience helping SMEs navigate technology deployment, distribution models, and regulatory compliance, and business model refinement.
• Development & Climate Finance: Understanding of blended finance, results‑based financing, concessional capital, guarantees, and donor‑driven investment structures.
• Impact & ESG: Strong grounding in impact measurement, environmental and social safeguards, climate‑mitigation/adaptation metrics, and gender‑responsive energy programming.
• Governance Experience: Prior service on investment or credit committees, advisory boards, or similar governance bodies.
• Risk Management: Ability to assess and mitigate operational, technological, regulatory, and market risks in frontier energy environments.
• Networks: Well-connected across renewable energy firms, DFIs, climate‑finance institutions, donors, investors, and sector associations.
• Personal Qualities: Integrity, independent thinking, constructive challenge, consensus‑building, and strong communication skills.

5 Committee Composition

• The IC shall comprise between three (3) and five (5) voting members, including the Chair.
• Members are appointed for an initial term of two (2) years, renewable subject to performance, for a maximum cumulative tenure of eight (8) years.
• The Chairperson is appointed by the Board Program Committee from among the IC members.
• AECF Management representatives attend meetings to present proposals but do not have voting rights.
• IC members are appointed and may be removed by the BPC at their discretion.
• The AECF Head of Legal and Company Secretary acts as the secretary to the IC.

6 Time Commitment

• IC meetings are held in line with AECF investment cycles and competition calendars, typically several times per year.
• Members are expected to attend at least 75% of scheduled meetings annually and to review materials in advance.

How to Apply

• Interested candidates are invited to submit a detailed curriculum vitae, a brief cover letter indicating whether you are applying for the Agribusiness or Renewable Energy Investment Committee and any other relevant materials supporting the application, including any relevant references or portfolio summaries (optional).
• Applications should be submitted by email with the subject line “Investment Committee Member Application, The AECF”.
• Applications should be sent to the AECF Head of Program Operations, Dorcas Muturi, on dmuturi@aecfafrica.org by 5:00 PM E.A.T on 31st March 2026. The same contact will be used for enquiries.