View Vacancy - Investment Officer and Deputy Country Director C5 (10/19 LOS) (DIT) - AU
The Department for International Trade (DIT) is the Trade Promotion and Negotiation organisation for the UK. We promote UK businesses overseas and attract foreign investment to our shores. We have 3,000 staff across the globe in over 100 countries. Our aspiration is to address some of the challenges facing the UK, by helping British businesses to internationalise and grow overseas.
Nigeria is the headquarters of the Department for International Trade’s West Africa team, which you will join. You will be a key part of the wider Prosperity team comprising DIT, FCO and DFID colleagues all working to improve economic development, investment and trade between the UK and Nigeria.Reporting to the DIT Country Director, you will be part of the new Investment Team that the Department for International Trade is creating.
The primary objective of your role is to encourage private sector led growth, by protecting and promoting investment and leveraging the strengths of British businesses.
The Prime Minister’s Cape Town speech set the ambition for the UK to be the largest G7 investor in Africa by 2022. Achieving this requires increasing support to the British business community in Africa, and targeted promotion of Africa as an investment destination. This will be the responsibility of the new DIT investment team. The rationale is clear, the UK can unlock economic growth and job creation by unblocking flagship investor issues and bringing private sector investment to Africa.
Working in support of Nigeria and the UK’s prosperity agenda and reporting to the Country Director, your role will have four clear objectives:
- You will build important client facing relationships with important investors. A strong track record in client-facing functions, for example for a consultancy company, would be welcome amongst applicants.
- You will help supercharge key reforms to the Nigerian business environment by identifying and monetising the impact of ‘high value investment barriers’ and ensuring UK Government action plans are in place to tackle them.
- You will sell Nigeria to international investors, including by producing a high-quality country guide that describes investment incentives, opportunities and risks credibly and fluently. The ability to research and draft this guide, according to a set template is crucial. The successful applicant will be able to provide evidence of concise, effective drafting.
- You will increase the demand for UK investment by promoting UK as a quality business partner in key sectors of strategic interest for Nigeria and UK, and look to create partnerships with the Nigeria Investment Promotion Commission, and the Nigerian senior business/investment community.
- You will map key UK investors’ presence in Nigeria and manage key investor relationships, facilitate their dialogue with the Nigerian authorities and regulators to expedite resolution of challenges to more mutually beneficial investments
- You will facilitate the development of a pipeline of UK investment deals in Nigeria, pre and post UK Africa Investment Summit
- You will lead dialogue with UK Export finance (UKEF) to help operationalise the agency’s export credit offer by facilitating heir contact with ripe deals
- You will also be the Deputy to the Country Director, providing support and working together to ensure that Nigeria is well embedded into the wider pan-Africa DIT region, sharing good ideas and bestpractice to gain a clear understanding of business drivers across the market. You will be expected to cover in the Country Director’s absence.
Your role will be partially funded from UK Official Development Assistance (ODA). This reflects your main objective as poverty reduction in Nigeria, enabled by private sector led growth.
Roles and responsibilitieS:
- You will establish a world-class investment support function in Nigeria
- Serve as Deputy Country Director
- Map existing British businesses in Nigeria, tier them and prioritise relationship building with those with greatest investment in jeopardy or in progress that UK Government can support. You will manage the overall needs of the British business community in Nigeria, working with the Country Director.
- Address ‘High Value Barriers’ in Nigeria that inhibit investment and convene working groups to address them, using UK VIPs (Ministers) and HMG senior officials to unblock issues where relevant.
- Develop a deal flow of UK investment in Nigeria that promote mutual prosperity
- Promote Nigeria to new investors, managing an events schedule that ensures maximum visibility of the UK offer, and partner with the Nigerian investment promotion function.
- Postgraduate degree and/or undergraduate degree and other professional qualification.
- At least ten years professional work experience, particularly in investment appraisal and deals brokering
- proven track record of delivering on time-bound change management programmes
- Client facing experience, for example with a professional services business but preferably in the investment sector in Nigeria
- A positive, resilient, flexible and adaptable “can-do” attitude that can see way through challenges.
- Proven leadership experience
- Experience in client facing roles (managing businesses, understanding issues and pursuing strategies together, investment appraisal, deal pipeline preparation, deals brokering)
- Excellent drafting skills
Learning and development opportunities (and any specific training courses to be completed):
The successful applicant will have access to a range of Learning and Development opportunities with in-house and e-learning, with the potential for overseas training. From time to time there will be requirements to assist other teams within the Department, working with other members of the team to build overall experience through delivery of training and awareness sessions.
ODA training can be provided.
Flexible working can be considered for the right candidate.
UK trade and investment in Nigeria has been overtaken by India, China, Germany and France in recent years. But the UK’s bilateral trade with Nigeria has increased from £3.7bn to £4.2bn in the last year and is projected to at least double by 2030. UK FDI stocks in Nigeria were $5.1bn in the same period, increasing from previous years. Flows fluctuate and in Nigeria focus on the secondary sector (manufacturing), in spite of the UK being primarily a services-based economy and investor worldwide. Our ambition is for the UK to regain its position as the top non-oil trading partner with Nigeria. We have a bold offer covering our full set of tools, including:
- A strong Export Credit offer: UK Export Finance, our award-winning credit agency has up to £750m available for Nigerian initiatives.
- A large development finance offer. The UK’s development investment arm, CDC, has a portfolio worth over $350m in Nigeria. It will announce $140m of investment on the day of the visit.
- A strong DFID economic development offer, including a new £70m programme to help innovative companies in northern Nigeria attract investment and scale up their businesses – helping 3 million people earn more money and creating new 100,000 jobs.
- Access to first-class professional services from the City of London, and in particular the London Stock Exchange, key to ensuring access to global capital to support Nigeria’s development.
- Expertise and experience from some of the most innovative companies in the world.
This opportunity is closed to applications.