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Program Manager, Circular Economy
Africa Enterprise Challenge Fund
- Location: Kenya
- Closes: 6 October 2026
About the role
Africa Enterprise Challenge Fund is hiring a Program Manager, Circular Economy in Kenya. You will lead investment and programme management for the circular economy portfolio, structuring and managing investments in private sector enterprises.
What you'll do
- Lead end-to-end investment due diligence on prospective portfolio companies assessing business models, financial viability and circular economy performance.
- Structure financing instruments including results-based repayable grants and blended finance tailored to enterprise needs.
- Present investment recommendations to the investment committee and manage the approval-to-disbursement process.
- Oversee active portfolio management including monitoring financial performance, covenant compliance and results verification.
- Manage planning, budgeting, work planning and reporting for the circular economy programme.
- Supervise programme team members and technical circular economy specialists supporting the portfolio.
- Coordinate with donors on work plans, deliverables, timelines and reporting requirements.
- Monitor programme and portfolio risk ensuring timely delivery of investment and programme outputs.
- Oversee technical assistance and investment readiness support to strengthen portfolio company performance.
- Engage financial institutions and partners to strengthen circular economy financing ecosystems and pipeline development.
What you need
- Postgraduate qualification in Finance, Investment, Business Administration, Economics, Development Finance or related discipline.
- At least ten (10) years' experience in investment, fund management, private equity, venture capital or development finance.
- Experience investing in or supporting private sector enterprises in Africa.
- Substantial experience conducting investment due diligence and structuring financing instruments like grants or guarantees.
- Experience managing an investment portfolio.
- At least three (3) years' experience in programme management or team leadership including budget management.
- Strong investment and financial analysis skills including deal structuring.
- Proven programme and team management skills including donor reporting.
- Excellent analytical, communication and stakeholder engagement skills.
Nice to have
- Background or qualification in Circular Economy, Environmental Engineering, Environmental Sciences or Sustainable Manufacturing.
- Knowledge of circular economy business models including plastics, e-waste, recycling or resource recovery.
- Experience working on donor-funded programmes involving blended finance, results-based financing or challenge funds.
- Working knowledge of circular economy principles and business models.
- Demonstrated ability to build sector knowledge quickly.
The employer’s original advert
**About Us**
AECF is a leading African-based development organization that leverages the power of the private sector to address systemic issues of rural poverty and employment across the continent. We find and fund innovative, game changing commercial businesses in the agribusiness and renewable energy sectors that transform the lives of low-income households.
By catalyzing funding, we help companies surface and commercialize new ideas, business models, and technologies that increase agricultural productivity, expand energy access, and alleviate poverty, particularly where these efforts impact women and young people. AECF works in frontier markets, fragile contexts, and high-risk countries where few mainstream financing institutions go. We back bold enterprises to tackle climate risk, expand opportunity for women and youth, and build resilience in fragile contexts so rural and marginalized communities can rise out of poverty.
Since 2008, we have deployed over US$290 million, leveraged $916 million in additional capital, provided funding to 698 businesses in 27 countries – impacting 36 million people.
**The Role**
The role holder will provide full-time investment and programme leadership for AECF's circular economy portfolio, with primary responsibility for structuring, appraising and managing investments in private sector enterprises, and secondary responsibility for ensuring those investment decisions are informed by sound circular economy principles. Leading a small team and working closely with the sector head, advisory and programme teams, the Programme Manager will manage the circular economy investment pipeline, portfolio, work plan, budget and donor reporting.
The incumbent will lead investment due diligence and structuring, oversee portfolio management and results verification under the results-based financing mechanism, and represent the programme with ecosystem stakeholders to strengthen circular economy financing and enterprise growth across the programme countries.
This role will report to the Associate Director - Energy.
**Key Responsibilities**
**Investment Leadership and Portfolio Management**
- Lead end-to-end investment due diligence on prospective portfolio companies, assessing business models, financial viability, commercial scalability, management capacity and risk, alongside circular economy performance.
- Structure and recommend appropriate financing instruments — results-based repayable grants, blended finance and other risk-sharing mechanisms — tailored to enterprise needs and investment risk.
- Present investment recommendations to the investment committee and manage the approval-to-disbursement process.
- Oversee active portfolio management, including monitoring financial and operational performance, covenant compliance, and results verification under the results-based financing mechanism.
**Programme Management and Coordination**
- Manage the planning, budgeting, work planning and reporting of the circular economy programme.
- Supervise and provide guidance to programme team members and consultants, including technical circular economy specialists supporting the portfolio.
- Coordinate with donors on work plans, deliverables, timelines and reporting requirements.
- Monitor programme and portfolio risk, ensuring timely, quality delivery of investment and programme outputs.
**Enterprise Advisory and Investment Readiness**
- Oversee the design and delivery of technical assistance and investment readiness support to strengthen portfolio companies' performance and bankability.
- 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.
- Work closely with the ESG team to support enterprises in improving investment readiness, operational performance, and ESG practices.
**Market Development and Knowledge Management**
- Lead engagement with financial institutions, industry associations, government agencies and development partners to strengthen circular economy financing ecosystems and pipeline development.
- Contribute to market research, investment case development, knowledge products and programme learning.
- Oversee monitoring, evaluation and reporting, developing investment and technical indicators and validating financial, environmental and circularity results.
**Qualifications and Experience**
The successful candidate should:
- 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 but not a requirement.
- Have at least ten (10) years' 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.
- Have substantial experience conducting investment due diligence, structuring financing instruments (grants, results-based financing, guarantees or similar), and managing an investment portfolio.
- Have at least three (3) years' experience in a programme management or team leadership role, including budget and plan management.
- Prior knowledge of or exposure to circular economy business models — plastics and packaging, electronic waste, recycling systems, resource recovery, eco-design or industrial symbiosis — is preferred but not required; candidates without direct circular economy experience but with strong investment credentials and a demonstrated ability to build sector knowledge quickly are encouraged to apply.
- Experience working on donor-funded programmes involving blended finance, results-based financing or challenge funds will be an added advantage.
**Required Competencies**
The successful candidate will demonstrate:
- Strong investment and financial analysis skills, including due diligence, deal structuring and portfolio management.
- Proven programme and team management skills, including work planning, budgeting and donor reporting.
- Good understanding of blended finance, results-based financing and enterprise development; working knowledge of circular economy principles and business models is preferred.
- 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.
AECF is a leading African-based development organization that leverages the power of the private sector to address systemic issues of rural poverty and employment across the continent. We find and fund innovative, game changing commercial businesses in the agribusiness and renewable energy sectors that transform the lives of low-income households.
By catalyzing funding, we help companies surface and commercialize new ideas, business models, and technologies that increase agricultural productivity, expand energy access, and alleviate poverty, particularly where these efforts impact women and young people. AECF works in frontier markets, fragile contexts, and high-risk countries where few mainstream financing institutions go. We back bold enterprises to tackle climate risk, expand opportunity for women and youth, and build resilience in fragile contexts so rural and marginalized communities can rise out of poverty.
Since 2008, we have deployed over US$290 million, leveraged $916 million in additional capital, provided funding to 698 businesses in 27 countries – impacting 36 million people.
**The Role**
The role holder will provide full-time investment and programme leadership for AECF's circular economy portfolio, with primary responsibility for structuring, appraising and managing investments in private sector enterprises, and secondary responsibility for ensuring those investment decisions are informed by sound circular economy principles. Leading a small team and working closely with the sector head, advisory and programme teams, the Programme Manager will manage the circular economy investment pipeline, portfolio, work plan, budget and donor reporting.
The incumbent will lead investment due diligence and structuring, oversee portfolio management and results verification under the results-based financing mechanism, and represent the programme with ecosystem stakeholders to strengthen circular economy financing and enterprise growth across the programme countries.
This role will report to the Associate Director - Energy.
**Key Responsibilities**
**Investment Leadership and Portfolio Management**
- Lead end-to-end investment due diligence on prospective portfolio companies, assessing business models, financial viability, commercial scalability, management capacity and risk, alongside circular economy performance.
- Structure and recommend appropriate financing instruments — results-based repayable grants, blended finance and other risk-sharing mechanisms — tailored to enterprise needs and investment risk.
- Present investment recommendations to the investment committee and manage the approval-to-disbursement process.
- Oversee active portfolio management, including monitoring financial and operational performance, covenant compliance, and results verification under the results-based financing mechanism.
**Programme Management and Coordination**
- Manage the planning, budgeting, work planning and reporting of the circular economy programme.
- Supervise and provide guidance to programme team members and consultants, including technical circular economy specialists supporting the portfolio.
- Coordinate with donors on work plans, deliverables, timelines and reporting requirements.
- Monitor programme and portfolio risk, ensuring timely, quality delivery of investment and programme outputs.
**Enterprise Advisory and Investment Readiness**
- Oversee the design and delivery of technical assistance and investment readiness support to strengthen portfolio companies' performance and bankability.
- 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.
- Work closely with the ESG team to support enterprises in improving investment readiness, operational performance, and ESG practices.
**Market Development and Knowledge Management**
- Lead engagement with financial institutions, industry associations, government agencies and development partners to strengthen circular economy financing ecosystems and pipeline development.
- Contribute to market research, investment case development, knowledge products and programme learning.
- Oversee monitoring, evaluation and reporting, developing investment and technical indicators and validating financial, environmental and circularity results.
**Qualifications and Experience**
The successful candidate should:
- 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 but not a requirement.
- Have at least ten (10) years' 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.
- Have substantial experience conducting investment due diligence, structuring financing instruments (grants, results-based financing, guarantees or similar), and managing an investment portfolio.
- Have at least three (3) years' experience in a programme management or team leadership role, including budget and plan management.
- Prior knowledge of or exposure to circular economy business models — plastics and packaging, electronic waste, recycling systems, resource recovery, eco-design or industrial symbiosis — is preferred but not required; candidates without direct circular economy experience but with strong investment credentials and a demonstrated ability to build sector knowledge quickly are encouraged to apply.
- Experience working on donor-funded programmes involving blended finance, results-based financing or challenge funds will be an added advantage.
**Required Competencies**
The successful candidate will demonstrate:
- Strong investment and financial analysis skills, including due diligence, deal structuring and portfolio management.
- Proven programme and team management skills, including work planning, budgeting and donor reporting.
- Good understanding of blended finance, results-based financing and enterprise development; working knowledge of circular economy principles and business models is preferred.
- 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.