Kosmos Innovation Center (KIC) Program
DAI Sustainable Business Group (SBG) helps unlock the commercial potential in growth markets by advising companies on how to demonstrate their long-term commitment to the country’s development, optimize their local supply base and labor force, and become a trusted partner for government. DAI is the primary implementing partner of Kosmos Energy in Ghana for its Kosmos Innovation Center (KIC) program, the company’s flagship corporate investment.
Kosmos Innovation Center is a corporate social investment initiative of Kosmos Energy. The KIC program has 3 components: the Agritech Challenge (annual innovation competition), the KIC Incubator, and the Business Booster. The KIC Access to Finance (A2F) Specialist will work across the program components to support KIC Entrepreneurs in identifying and obtaining funding from multiple sources to launch and grow their businesses.
Young entrepreneurs and business owners who can access capital create economic opportunities that have ripple effects in their communities. In Ghana, the ecosystem for entrepreneurship and innovation is limited by lack of available funding. At the same time, many entrepreneurs do not sufficiently understand their finances or how to communication about them, which limits their ability to pursue the capital that is available.
The KIC Access to Finance (A2F) Specialist will lead the design of the program’s approach to A2F, to begin with assessing the needs of KIC entrepreneurs and scoping the relevant national and international ecosystems. The A2F Specialist will bring best practices, lessons learned, and the latest insights to guide the execution of the activities and maximize results. The A2F Specialist will engage with external financiers and conduct matchmaking to facilitate connections with KIC companies. He/She will report directly to the KIC Program Manager, coordinating with the rest of the DAI team and the Kosmos Energy Ghana (KEG) team as appropriate.
This is a year-long, full-time position. Based on performance review and work planning to take place in December, the position can be renewed for the following year.
DUTIES AND RESPONSIBILITIES
The Access to Finance (A2F) Specialist will be expected to:
- Lead scoping of the Ghanaian ecosystem for opportunities to leverage external stakeholders and financiers on behalf of KIC. In this continuing and dynamic scoping effort, the A2F expert will liaise with investment funds, banks, microfinance institutions, impact or angel investors, diaspora groups, charitable organizations, and large private sector actors. For investment partners, he/she will seek to understand the types of investments and/or client groups that the partner is interested in growing, overall portfolio strategy, and minimum return on investment expectations. For banking partners, he/she will assess the minimum requirements for lending to new client groups and proactively map the most promising sources of capital for grantees. He/she will look at bringing on capital partners and brokering relationships to identify innovative mechanisms that improve access to finance.
- Determine the best approach and mechanisms for connecting KIC companies to funding, which may include establishing a fund that draws in local and international financiers. The initial scoping is critical to ensure that the fund is needed, fits the local context, has strong external participation, and is sustainable.
- Implement and manage the A2F component of the program in whatever form it ultimately takes. Advise KIC on long-term management strategy for the component/fund.
- Develop A2F capacity building program for KIC companies, to include trainings and one-on-one coaching delivered by A2F Specialist and external experts
- Serve as the go-to resource for connecting KIC companies to funding opportunities and investors; managing partnerships with financial institutions; advising on overall A2F strategy for KIC; providing trainings and one-on-one coaching to companies regarding financial management and fundraising strategy.
- Bachelor’s degree and minimum 8 years of professional work experience OR Master’s degree and minimum 5 years of professional work experience.
- Experience working with entrepreneurs and financiers in Ghana or similar market
- Deep understanding of the Ghanaian financial landscape, as well as an understanding of the broader African and global arenas.
- Personal network in the A2F field in Ghana, especially within commercial banks, equity investors, impact investors, and multilateral institutions.
- Proven experience raising funds for own company or other institutions.
- Experience working to promote entrepreneurship and innovation.
- Experience consulting for or mentoring entrepreneurs
- Excellent organizational, communication, and interpersonal skills.