Nyangani Renewable Energy (Pvt) Ltd (www.nrezim.com) is Zimbabwe’s largest independent power producer operating grid connected hydro electric power stations and a solar farm. It generates 150,000 MWh pa from 10 schemes located in eastern Zimbabwe and southern Malawi.
About the role
The Finance Director will oversee all financial operations of the Zimbabwe renewable energy group of companies, ensuring financial integrity, regulatory compliance and risk management.
Key dimensions of the role
1. Financial reporting
- Oversee the preparation of monthly management accounts, as well as quarterly and annual reporting to head office.
- Manage the budgeting process.
- Monitor actuals against budget to ensure financial targets are met.
- Manage the annual audit and ensure timely reporting to head office.
- Manage the consolidation of the group of companies.
- Preparation of IFRS compliant financial statement for each entity and the consolidated company.
- Oversee the preparation of the monthly VAT and PAYE returns, QPD returns and the annual company tax return for each registered entity.
2. Cash flow management
- Monitor cash flow and working capital to ensure operational liquidity.
- Investment of surplus cash flows and the related divestment to ensure availability of sufficient working capital to meet the business demand whilst protecting value of local currency deposits in the face of local inflation.
- Monitoring the foreign currency market to maximise US$ availability for the benefit of the group.
3. Compliance
- Ensure compliance with the Reserve Bank of Zimbabwe’s (RBZ) reporting requirements, including the registration of foreign loans and acquittal of foreign payments.
- Timely reporting of business taxes to Zimbabwe Revenue Authority (ZIMRA), to ensure approval of tax certificates which allow each legal entity to conduct business without having withholding tax deducted from its revenue stream.
- Filing of annual returns and oversight of all company secretarial duties.
4. Banking relationships
- Maintain relationship to ensure direct access to foreign currency market.
- Ensure that the Escrow account managed by the Bank results in the correct and timely payment of the ZEDTC debtor.
- Secure medium-term financing for new projects as and when required.
5. Other
- Assistance with licensing, tariff applications and PPA negotiation for new projects.
- As a senior member of the management team, participate in setting the strategic direction of the group.
- Development of the accounting and administration team to improve capacity and efficiency.
Skills and experience
- A minimum of a Bachelor's degree in Accounting, Finance, or a related field is required.
- A relevant postgraduate qualification such as an MBA or a professional accounting designation (e.g., CA, ACCA, CIMA) is highly desirable.
- At least 10 years of experience in financial reporting, including preparing IFRS-compliant financial statements, managing audits, and handling group consolidations. Experience working in multinational or multi-entity organizations will be an advantage.
- Proven track record in managing cash flow, working capital, and foreign currency management, with experience in maximizing liquidity in inflationary economies.
- Strong knowledge of tax compliance and regulatory reporting, particularly in Zimbabwe or other similar markets. Familiarity with Reserve Bank of Zimbabwe (RBZ) regulations and Zimbabwe Revenue Authority (ZIMRA) tax requirements is highly preferred.
- Extensive experience managing relationships with banks and securing medium-term financing for capital projects.
- Experience in managing foreign currency accounts and negotiating favorable banking terms will be critical.
- Strong analytical and problem-solving abilities, particularly in financial planning and cash flow management.
- Excellent leadership and team development skills, with a history of improving operational efficiency within accounting and administrative functions.
- Demonstrated ability to work strategically within senior management teams to guide company direction and growth.
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Since 2007 Millar Cameron has specialised in sourcing leadership and keyperson talent across a number of industries, including agribusiness, international development, industrial, consumer, financial and professional services, private equity, and technology, media and telecommunications. Our mission and purpose is to positively contribute to the development of Africa, and other emerging markets, through the provision of people.