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Investment Associate at National Empowerment Fund

National Empowerment Fund
July 24, 2026
Full-time
On-site
Job Description

Eligibility and Mandate Assessment


Assess applications against NEF mandate, product criteria and sector priorities.
Identify misaligned or non-fundable applications at an early stage.
Confirm strategic fit and developmental impact alignment.
Assess total NEF exposure and eligibility thresholds.


Technical Assessment

Evaluate the operational feasibility of proposed projects, including:


CAPEX reasonability and alignment with project scope.
Project implementation timelines and key execution milestones.
Infrastructure readiness, including land, utilities, and logistics access.
Supplier arrangements and input availability.
Production capacity, scalability, and operational efficiency.
Management and technical capability to execute the project.
Compliance with sector regulatory requirements and permits.
Technology suitability and operational processes (where applicable).
Operational risks that may affect implementation or sustainability.
Job creation projections and alignment with NEF developmental objectives.


Commercial and Market Assessment


Assess industry outlook, market demand and competitive positioning.
Evaluate pricing sustainability and business model resilience.
Analyse route-to-market strategies and distribution channels.
Validate demand through contracts, letters of intent or off-take agreements.
Assess market concentration, cyclicality and seasonal risks.


Financial Assessment

Develop and interrogate financial models to assess:


Revenue and cost assumptions.
Contribution margins and break-even analysis.
Working capital adequacy.
Cash flow sustainability.
Debt service capacity (DSCR).
Sensitivity analysis (base, upside and downside scenarios).
Funding structure suitability.
Return indicators (ROI / IRR where applicable).
Apply deal-making judgment to determine whether financial structuring is feasible and aligned with NEF risk appetite.


Compliance and Governance Screening


Conduct preliminary compliance checks including PEP and delinquency screening.
Verify legal entity status and ownership documentation.
Identify potential conflicts of interest.
Highlight governance weaknesses and regulatory gaps.
Identify ESG and environmental compliance risks.
Assess the applicant's (company and shareholders) existing exposure to NEF in relation to previously approved funding.
Flag legal and regulatory gaps.


Risk Identification and Mitigation


Identify key credit, operational and market risks.
Assess structural weaknesses in deal configuration.
Propose risk mitigation strategies prior to progression.
Ensure risk areas are clearly articulated for Fund-level due diligence.


Deal Packaging and Recommendation


Prepare comprehensive Pre-Investment screening reports.
Structure transactions in accordance with NEF requirements and governance requirements.
Ensure transactions are at least 80% investment ready before referral.
Ensure transactions are substantially investment ready before referral.
Present vetted transactions at internal pipeline forums.
Provide recommendations on application outcomes.


Minimum requirements

Experience / Skills Required

Minimum 4 - 7 years proven deal-making experience in:


Corporate finance
Private equity
Investment banking
Development finance
Structured lending
Demonstrated track record in:
Financial modelling and valuation
Structuring investment transactions
Preparing investment committee memoranda
Negotiating term sheets
Identifying and mitigating investment risks
Market, technical and industry analysis to support investment decision-making
Prior deal execution experience is essential.


Qualification Requirements


Bachelor's Degree in Finance, Economics, Accounting, Engineering, Business or related field
Postgraduate qualification (MBA/CFA/CA(SA)/equivalent) advantageous


Personal Attributes/Behaviours/Attitudes


High ethical standards and integrity
Strong work ethic and results orientation
Resilience and ability to work under pressure
Strong time management and organisational skills


Apply by: 28 July 2026

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