Chomoka aims to be the leading financial empowerment platform for rural Africans, most of whom live under the global poverty line. Launched in partnership with CARE International, Chomoka is a digital ledger that helps Village Savings & Loan Groups improve the accuracy and quality of their financial records and delivers a marketplace of financially empowering products & services. There are over 15 million members of Village Savings and Loan groups in Africa, most of whom are women.
In its first two years, Chomoka has an early track record of success in Tanzania and is looking to hire a Managing Director – Chomoka to lead the next phase of expansion across Africa. This position will report to Chomoka’s Board of Directors, get the chance to lead the spin-off of Chomoka from CARE International, lead marketplace expansion, and be part of the ownership of Chomoka.
Responsibilities:
We are seeking a proven fintech senior executive who has experience successfully leading aggressive mobile adoption across multiple geographies. The successful candidate will power and drive Chomoka from its current, early success in Tanzania into the future global leader in mobile technology for Village Saving and Loan Association (VSLA) groups. S/he will be responsible for short, mid and long-term strategy, culture and organizational development while delivering financial, operational and social impact goals against objectives.
Vision and Strategy
Responsible for creating and guiding all short, mid and long-term strategic direction for the enterprise; Maintain primary ownership of and accountability for the long-term vision; Strategically position Chomoka’s brand and value proposition across the ecosystem; Partner with current Board of Directors to shape the long-term Board structure; Design an expansion model that can be successfully executed across multiple geographies over 12 to 36 months.
People and Culture
Create a people strategy that aligns with the strategic priorities; Identify required skills and competencies necessary for building high performing leadership teams across multiple geographies; Assess current employees against goals and objectives; define a scalable talent acquisition strategy consistent with growth objectives; Craft and consistently communicate the culture for today and the future of Chomoka; Ensure that the culture attracts employees who are dedicated to delivering on the mission to serve and empower millions.
Finance and Operations:
Create the product develop map and manage product evolution efforts to enable rapid new user acquisition as well as strong user retention; Continuously improve and identify product improvements to ensure the product meets the needs of the users; Build and architect the corporate infrastructure; Manage budgets to meet revenue and profit targets and requirements; Monitor investment decisions and processes to ensure Chomoka meets short term cash flow needs while realizing long term financial objectives; Deliver the necessary track record to obtain future rounds of investment; Regularly partner with CARE Social Ventures to evaluate financing and fundraising needs and leverage CARE Fundraising staff as needed; Act as the primary Chomoka representative to provide funding updates to internal and external stakeholders Recommend and lead Chomoka’s initial legal, tax and ownership structure through approval from Chomoka and CARE Social Ventures board for independent status.
Social Impact:
Meet or exceed Chomoka social impact goals; Provide a customer engagement that results in improved financial records and processes; Uplift and empower VSLA groups to have direct access to formal financial markets via the digital marketplace; Lead through change and model best practices for this emerging financial landscape.
Qualifications:
Bachelor’s degree and MBA or equivalent required; Fluent in English required; intermediate French a plus; Track record of executive management success in the African fintech sector; Deep familiarity with mobile money movement; Experience leading, negotiating and managing partnerships with premier telecoms and/or banks in east Africa; Proven success leading a startup’s growth: success raising funds, management of profit and loss, balance sheet, cash flow and budgeting; Seasoned experience with board management and engagement; Passion for social impact preferred including leadership in empowerment practices and community financial inclusion initiatives.
