Group Chief Financial Officer

Job Description:

GROUP CHIEF FINANCIAL OFFICER (GROUP CFO)

Harare, Zimbabwe - Full-Time - Group Leadership Role

Role Purpose:

The Group Chief Financial Officer (CFO) is the senior financial leader of the group, providing strategic and operational financial oversight across two of Zimbabwe's largest FMCG manufacturers. Reporting directly to the Executive Director and Board of Directors, the CFO is a critical strategic partner on capital allocation, funding, M&A, and group-wide financial governance.

The role requires an individual of exceptional calibre who can operate effectively in a complex dual-currency (USD/ZiG) environment, interface directly with institutional shareholders, and build a world-class finance function across a multi-entity, multi-site manufacturing group.

About The Group:

Entity A Edible Oils & Fats:

Zimbabwe's largest edible oils and fats producer, with revenue exceeding USD 140M per annum. Operations include a soyabean solvent extraction plant, oil refinery, and FMCG packaging lines producing cooking oils, industrial fats, shortening, and related products.

Entity B Diversified FMCG:

A diversified FMCG manufacturer with revenue of approximately USD 60M per annum. Products span cooking oils, margarine, laundry and toilet soaps, tomato sauce, baked beans, and shortening. Operations based in Harare and Bulawayo.

The Group:

Promoter-owned holding entity with board-level governance including independent directors and institutional shareholders. Active M&A agenda including an ongoing merger transaction.

Key Responsibilities:

Financial Leadership & Strategy:

- Lead the annual budgeting process and rolling monthly forecasts across both entities

- Drive 3-year strategic financial planning aligned to the group's growth and capital agenda

- Partner with the Executive Director and Board on capital allocation, investment appraisal, and returns analysis

- Provide financial input to strategic decisions including pricing, capacity investment, and market expansion

Management Reporting & Board Packs:

- Produce accurate, timely monthly management accounts covering P&L, GP, cash flow, and balance sheet

- Deliver category-level, channel-level, and SKU-level gross profit analysis to support commercial decisions

- Prepare and present Board packs and investor reporting to the Board and institutional shareholders

- Own the group's financial narrative translating numbers into actionable insights for senior leadership

Treasury & Working Capital Management:

- Manage daily group cash position and oversee working capital cycle (receivables, payables, inventory)

- Maintain and develop banking relationships (Ecobank, CBZ, and others); negotiate facilities and terms

- Lead FX management strategy in the dual-currency (USD/ZiG) environment with active RBZ interface

- Optimise intercompany cash flows between group entities to maximise group liquidity

- Ensure full compliance with Reserve Bank of Zimbabwe (RBZ) exchange control regulations

Costing & Manufacturing Finance:

- Oversee SAP-based standard costing across all product categories oils, soaps, margarine, sauces

- Validate and challenge Bills of Materials (BOMs), overhead absorption rates, and costing assumptions

- Drive monthly cost variance analysis (actual vs standard) with root cause identification and corrective action

- Partner with Operations and Procurement on cost reduction initiatives and input price management

- Ensure product-level GP reporting is accurate, timely, and used effectively in pricing decisions

Tax, Regulatory & Compliance:

- Ensure full ZIMRA compliance: corporate income tax, VAT, withholding taxes, and transfer pricing

- Manage RBZ regulatory reporting and exchange control compliance across all foreign currency transactions

- Oversee statutory audit management and IFRS-compliant financial statement preparation

- Maintain relationships with external auditors, tax advisors, and legal counsel

Audit & Internal Controls:

- Chair or actively support the Audit Committee; prepare and present Audit Committee packs

- Design and maintain a robust internal control framework across both entities

- Drive continuous improvement in finance processes, systems, and controls

- Ensure zero tolerance for financial misstatement, fraud risk, or governance lapses

M&A and Corporate Finance:

- Lead financial due diligence on acquisitions, mergers, and investment opportunities

- Support the ongoing merger working party with financial modelling, transaction structuring, and lender negotiations

- Manage debt structuring, refinancing, and covenant compliance across group banking facilities

- Build and maintain financial models for investment decisions and shareholder reporting

Team Leadership & Capability Building:

- Lead and develop the Group Finance function across both entities

- Build team capability across financial control, costing, treasury, and management accounting

- Drive SAP optimisation and finance systems improvement to reduce manual effort and increase analytical depth

- Mentor and develop Financial Controllers at both entities towards succession readiness

Qualifications & Experience:

Essential:

- Qualified Chartered Accountant CA (Zimbabwe, South Africa, or India), ACCA, or CPA; full membership mandatory

- Minimum 15 years post-qualification finance experience, with at least 5 years as CFO or Finance Director of a substantial business

- Proven experience in FMCG, food manufacturing, or fast-moving consumer goods non-negotiable

- Demonstrated experience managing board-level and institutional shareholder reporting

- Strong understanding of cost accounting, standard costing, and manufacturing P&L dynamics

- Hands-on experience managing treasury, banking relationships, and working capital in a cash-intensive business

Strongly Preferred:

- Africa-based experience; Zimbabwe or Southern Africa experience highly advantageous

- SAP ERP experience (FI/CO modules)

- Experience operating in a dual-currency or high-inflation economic environment

- M&A, due diligence, or corporate finance transaction experience

- Experience managing a finance team of 10+ across multiple sites or entities

Key Competencies:

- Strategic Financial Thinking - Sees beyond the numbers connects financial performance to strategy and commercial opportunity

- Commercial Acumen - Deep understanding of GP, product costing, pricing dynamics, and channel economics in FMCG

- Hands-On Leadership - Willing and able to be in the detail this is not a purely strategic role

- Governance & Integrity - Uncompromising on financial reporting accuracy, controls, and ethical standards

- Stakeholder Communication - Confident and credible at board level, with institutional shareholders, and with banks

- Resilience & Adaptability - Thrives in a volatile, fast-changing economic environment; solutions-oriented under pressure

- People Development - Builds teams, develops talent, and creates a culture of accountability and continuous improvement

What Makes This Role Distinctive:

This is a rare opportunity to serve as the Group CFO of one of Zimbabwe's most significant food manufacturing groups at a pivotal moment in its development. The role carries genuine group-level scope across two major FMCG businesses with combined revenues exceeding USD 200M, in a complex dual-currency (USD/ZiG) environment with active RBZ regulatory interface. The CFO will have direct, regular engagement with an institutional shareholder of national significance and will play a central role in an active M&A and merger workstream currently in progress. This is a role for a CFO who wants to leave a legacy: building the financial architecture of a world-class African FMCG group from a position of genuine influence.