The Recruiter

Our client – the Nigerian subsidiary of an international group operating in the agro-industry sector – is a company specialized in the local production of therapeutic nutritional foods aimed at combating malnutrition, particularly among children and vulnerable populations.

Its products are supplied to public health programs, humanitarian aid initiatives, and nutritional support programs in hospitals and medical facilities.

The Nigerian subsidiary is based in Kano (Northern Nigeria), where it operates an industrial facility validated by agencies such as UNICEF, WFP, and Médecins Sans Frontières to meet local and regional needs.
The company processes locally sourced raw materials into adapted nutritional products, while also supporting local farmers.

The Context

The company – with 200 employees and USD 35 million in annual revenue – is experiencing a phase of hypergrowth, requiring the recruitment of seasoned professionals for several strategic positions. The objective is to effectively support the executive management in the company’s transformation.

Reports to: Chief Executive Officer / Managing Director / Board of Directors
Direct reports (typical): Finance Manager/Controller, Accounting, Treasury, Tax, Internal Audit/Compliance, FP&A, Procurement Finance, Plant/Cost Accounting, IT/ERP Finance (as applicable)
Key interfaces: , Investors/Banks, External Auditors, Operations/Manufacturing, Supply Chain, Sales/Trade Marketing, HR, Legal

PURPOSE OF THE POSITION

Provide strategic and operational financial leadership to a processed agro-food business to ensure profitable growth, strong cash generation, funding and risk management, robust controls, and regulatory compliance. The CFO steers financial strategy, supports commercial and operational decision-making (pricing, trade spend, CAPEX, productivity), manages funding and risk (commodities, FX, credit), and ensures timely, reliable reporting to leadership and stakeholders.

DUTIES AND RESPONSIBILITIES

1) Financial strategy, governance, and leadership 

• Define and execute the finance strategy aligned with corporate objectives (growth, margin, cash, investment).

• Serve as a key advisor to CEO/Board on performance, risks, and strategic options (M&A, expansion, divestment).

• Build and lead a high-performing finance organization (structure, capability, succession, culture of accountability).

• Establish strong governance and internal controls (segregation of duties, approval matrices, audit readiness).

2) Planning, budgeting, and performance management 

• Lead annual strategic planning, budget, and rolling forecasts with clear assumptions (volume, price/mix, COGS, trade spend).

• Own performance reviews (monthly business reviews): variance analysis, corrective actions, and decision support.

• Develop profitability analytics by product/SKU, channel, customer, plant line, and route-to-market.

• Implement standard management reporting packs and dashboards for executive decision-making.

3) Cost accounting, manufacturing finance, and productivity 

• Oversee plant finance: standard costing, variance analysis (yield, waste, labor, energy), and OEE-related cost impacts.

• Drive productivity programs with Operations: cost reduction, process optimization, SKU rationalization, make/buy analysis.

• Ensure robust inventory valuation and controls (raw materials, WIP, finished goods), including obsolescence provisions.

• Support capacity planning and cost-to-serve improvement (distribution, warehousing, order profiles).

4) Revenue management, pricing, and trade spend control (processed foods focus)

• Partner with Commercial on net revenue management: pricing governance, discount discipline, rebate accrual accuracy.

• Set trade spend policies and controls (promo funding, listing fees, commercial contracts) and evaluate ROI.

• Validate business cases for product launches, pack changes, promotions, and customer tenders (including private label).

5) Treasury, funding, and working capital management

• Lead treasury: cash forecasting, liquidity planning, banking relationships, and financing strategy (debt facilities, leasing).

• Optimize working capital: receivables (credit policy), payables, inventory turns, and cash conversion cycle.

• Manage credit risk and collections governance, especially with modern trade and distributor networks.

•   Establish controls for cash-handling (if cash sales exist) and payment security.

6) Accounting, reporting, and audit

• Ensure accurate, timely financial statements (monthly close, statutory accounts) under relevant standards (IFRS/local GAAP).

• Manage external audits, tax audits, and regulatory submissions; ensure clean audit opinions and issue remediation.

• Oversee reporting to Group Holding for consolidation purpose 

7) Risk management: commodities, FX, compliance, and business continuity

• Monitor and mitigate exposure to commodity volatility (ingredients, packaging), FX, interest rates, and supply disruptions.

• Implement hedging or contractual pass-through mechanisms where feasible; maintain scenario planning.

• Ensure compliance with tax, statutory reporting, and industry regulations impacting finance (traceability-related cost impacts, duties, import/export).

• Own financial aspects of business continuity plans (insurance, crisis protocols, recall cost preparedness).

8) CAPEX, project finance, and growth investments

• Build the CAPEX governance framework: prioritization, approval process, ROI tracking, post-implementation reviews.

• Finance strategic projects: new lines, cold chain expansion, automation, ERP upgrades, sustainability investments.

• Support due diligence for acquisitions/partnerships and integration planning.

9) Systems, data, and finance transformation

• Sponsor finance digitization: ERP optimization, automated controls, e-invoicing, forecasting tools, BI dashboards.

• Strengthen data integrity (product costing, customer profitability, promo accruals) and master data governance.

• Define and monitor finance service levels (close cycle time, forecast accuracy, reporting turnaround).

• Degree in Finance/Accounting/Economics; professional certification strongly preferred (e.g., CPA/ACCA/CFA or local equivalent).

• Typically 15+ years finance experience with 7+ years in senior leadership (Finance Director/CFO/Regional CFO).

• Strong track record in processed agro-food / FMCG food manufacturing (multi-site or complex supply chain is a plus).

• Experience in working with multi-currencies and high inflation environment

• Experience in reporting to Holding level

COMPETENCES

Knowledge (what you must know)

• Financial strategy, corporate finance, capital structure, valuation, and investment appraisal.

• Cash and risk management

• Accounting

• Manufacturing/plant finance: standard costing, variance analysis, yield and waste management, inventory controls.

• Tax, statutory reporting, audit requirements, and financial compliance frameworks.

• Risk management for commodity/FX volatility and supply chain disruptions.

Know-how (what you must be able to do)

• Build and run robust planning cycles (budget, forecasts, scenarios) and translate them into actions.

• Design internal control environments and enforce governance without slowing the business unnecessarily.

• Lead profitability improvement programs: cost reduction, pricing discipline, trade spend optimization, cost-to-serve.

• Manage treasury: liquidity planning, bank relationships, funding negotiations, and cash discipline.

• Communicate complex financial insights clearly to executives, boards, and non-finance leaders.

• Lead transformation projects (ERP/BI, process redesign, finance operating model changes).

Interpersonal skills (how you work)

• Executive presence and strong influencing skills across commercial and operational teams.

• High integrity, confidentiality, and courage to challenge assumptions and stop non-compliant practices.

• Strategic mindset with hands-on pragmatism; strong prioritization under pressure.

• Collaborative leadership, talent development, and conflict resolution.

• Resilience and adaptability in volatile cost and supply environments.

EXPECTED RESULTS

• Reliable financial governance: timely closes, accurate reporting, strong controls, clean audits.

• Improved profitability through cost discipline, productivity initiatives, and net revenue management.

• Strong cash generation and healthier working capital (better inventory turns, receivable days, cash conversion).

• Strong funding position and controlled financial risk exposure (commodities/FX/credit).

• CAPEX discipline with measurable ROI and on-time project delivery.

• Finance function maturity uplift: better systems, analytics, and decision support.

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PERFORMANCE INDICATORS (KPIs)

Financial performance

• EBITDA / operating profit vs target; gross margin improvement (bps).

• Net revenue growth and net price realization; trade spend % of net sales and trade spend ROI (where measurable).

Cash & working capital

• Operating cash flow; free cash flow.

• Cash conversion cycle: DIO / DSO / DPO; inventory turns; obsolescence and write-off rates.

• Funding 

• FX management and risk control

Manufacturing finance

• Cost of goods per unit vs standard; yield/waste variance; conversion cost per ton/unit.

• Inventory accuracy and cycle count results; shrinkage rate.

Governance & reporting

• Month-end close cycle time; forecast accuracy; budget variance.

• Audit outcomes (number/severity of findings); control testing results; compliance breaches (target: zero material).

CAPEX and projects

• CAPEX delivered on time/on budget; post-implementation ROI attainment.

• Transformation delivery milestones (ERP/BI adoption, automation rates).

Team & capability

• Finance team retention and engagement; key role coverage; training/certification progress.

• Competences building

WORKING DOCUMENTS 

• Strategic business plan, annual budget, rolling forecasts, scenario models (commodity/FX/price).

• Monthly management reporting pack: P&L, balance sheet, cash flow, KPIs, variance commentary.

• Customer and channel profitability models; SKU/product margin waterfall; cost-to-serve analyses.

• Standard costing sheets, bill of materials (BOM) cost models, variance reports (yield, waste, labor, overhead).

• Trade spend policies, rebate accrual schedules, promotion ROI post-mortems, pricing approval logs.

• Working capital dashboards: AR aging, credit limits, collection plans; inventory aging/expiry/slow movers.

• CAPEX business cases, approval memos, project tracking, post-investment reviews.

• Treasury pack: cash forecasts, debt schedules, covenant reporting, bank facility documentation.

• Audit files: statutory accounts, reconciliations, control narratives, risk register, insurance documentation.

• Tax calendar, filings, transfer pricing documentation (if relevant), customs/import-export duty files.

TOOLS

• ERP: Odoo (or equivalent) with costing, inventory, and purchasing modules.

• FP&A / consolidation: Adaptive, Anaplan, Hyperion, Tagetik, or robust Excel-based models (depending on maturity).

• BI & analytics: Power BI / Tableau; SQL access as needed.

• Treasury & payments: bank portals, cash management tools, payment approval workflows, e-invoicing platforms.

• Audit & controls: internal control software (optional), GRC tools (optional), standardized close checklists.

• Product costing & planning: BOM/costing tools, demand planning tools (as available).

• Collaboration & documentation: Teams/Slack, SharePoint/Google Drive, project tools (Asana/Trello/Notion).

• Spreadsheet/presentation: Excel/Google Sheets; PowerPoint/Slides.