Project Overview and Role:
The Kenya Feed the Future Private Sector Activity (KPSA) is a $48 million, USAID-funded, Palladium implemented project that will accelerate inclusive economic growth in Kenya through partnerships with large agricultural firms, health firms and other sectors. Using a systems approach, KPSA will provide a suite of customized, high-impact services that increase the productivity of firms such as SMEs, smallholders, Business Advisory Service Providers (BASPs) and Financial Institutions (FIs), increase market linkages, and mobilize finance to support targeted sectors. From 2024 – 2029, KPSA will use its Inclusive Growth Platform to mobilize $400 million in finance, create new jobs, increase exports and sales, and increase access to healthcare services.
The Guarantees Manager will support guarantee management with partner FIs to ensure maximum utilization and seek to overlap interventions with Inclusive Growth Partner business models. The Guarantees Manager will also support on-going implementation of the Kenya Credit Guarantee Scheme (KCGS) with a particular focus in expanding access to KCGS financing for SMEs in KPSA value chains and geographies.
Location:Nairobi, Kenya
Roles and Responsibilities:
Conduct rapid review of financial institutions with DCA guarantees based on Palladium previous work to establish a strategy to address access to financing in targeted value chains
Connect prospective investors with DCA guarantees to ensure risk is sufficiently mitigated to finance target value chain SMEs
Analyze reasons for DCA under-utilization as well as success factors and develop methods to increase their utilization among Kenya's financial institutions
Seek opportunities to support KCGS including implementation of strategies to diversify loan recipients
Identify and secure opportunities for Inclusive Growth Partners' value chain actors to access financing via KCGS and DFC partner FIs guarantee products
In collobaration with others in the Investment Team, support Fis to create financial products aligned with the supply chain finance needs of Inclusive Growth Partners
Supervise the work of subcontractors on KIM working to provide technical assistance and training to financial institutions
Lead conversations with USAID Kenya and DCA in Washington to negotiate changes to existing DCA guarantee instruments and how they can be modified to align with a changing Kenyan market
Work with the Inclusive Growth Team to develop a pipeline of private sector firms whose loans could potentially be backed by DCA guarantees
Monitor DCA utilization in the Kenyan market each quarter and report this information to USAID
Develop and maintain a community of practice among financial institutions with DCAs to share lessons learned, highlight successes, and develop best practices
Position Requirements:
Master's Degree in a relevant subject (MBA, MA in Business, Economics, International Development, Agriculture, etc.) or a B.A. and 10+ years of similar experience
Five years or more of work experience required in the finance and investment field
Significant experience and/or exposure to USAID's Development Credit Authority mechanism required
Overall experience with loan guarantee mechanisms, financial inclusion services, and/or alternative financing schemes required
Demonstrated experience providing training to financial sector actors required
Excellent contacts within Kenyan international banking/investment fields
Impeccable professional record and integrity
Excellent verbal and written communication skills in English
Local Kenyan candidates are preferred