Local Staff
ANZA has a recently recruited Finance & Administration Officer, and this is his first role working in a not for profit organisation. The AfID volunteers will be mentoring him to build his professional capacity, and supporting senior management staff none of whom have backgrounds in finance in organisational and strategic development.
ANZA works with social enterprises in Tanzania, all of whom are developing innovative responses to social & environmental challenges within their communities. AfID volunteers also work with a variety of staff within these enterprises on an advisory basis, covering a variety of areas from accounting, financial management & systems implementation, to operations, HR & strategic development.
The Partner
Anza supports social entrepreneurs to scale their businesses. Many local entrepreneurs who have started innovative, life changing businesses have failed due to a lack of access to the knowledge, resources, capital, and network they need to succeed. Based on their in-depth understanding of the needs of social entrepreneurs in Tanzania, Anza delivers a robust set of services that includes entrepreneur and business capacity building.
The Challenge
Anza had seen significant growth in a very short period of time and has recently received approval to disburse microloans of $5,000 - $10,000 to their entrepreneurs. Currently they do not have the essential financial systems and processes in place to manage this effectively.
Due to a lack of experienced finance professionals within the organisation Anza rely on a continual stream of volunteers to provide support on specific technical projects such as the roll out of the new microloan programme, as well as to provide specific support to the social businesses they work with.
The Brief
Anza required the support of an experienced finance professional to help set up their new microloan function, as well as to provide specific support to some of the social businesses they are incubating.
Skills and experience
Qualified accountants with extensive senior level experience
Andrew has broad experience of accounting software, particularly in relation to microfinance
Jeannette has had responsibility for running businesses throughout her career giving her a robust understanding financial processes, systems and controls
The Volunteer
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Name
Andrew (ACA) and Jeannette (CPA)
Employer
Musoni BV and FTI Consulting
Position
CFO and Senior Managing Director
ACA Andrew, an experienced Finance Director, has built up extensive experience both operating at a strategic Board level as well as at a tactical, hands on level. His latest role involved the creation of an innovative microfinance business in Kenya which involved developing financial systems and building the Finance function, including recruiting and training staff.
Jeannette has spent her 30 plus year career in the financial services industry, with roles in Morgan Stanley, JPMorgan and Deutsche Bank. She is also a qualified executive coach and provides career and professional effectiveness coaching to both experienced professionals and junior staff on a pro-bono basis.
Having largely finished in their previous roles Andrew and Jeannette were looking to do something meaningful with the additional time they had available.
Achievements
Jeannette helped MHI to understand the problems with their organisational framework and provide a detailed review of all their finance systems. She produced a finance manual, role descriptions and reporting templates.
Jeannette held several sessions with individual Business Development Advisors which will continue post assignment.
Andrew moved the loan systems to the stage where they can start being used once staff are appointed and funds received. He set up QuickBooks and established the accounting for loans and wrote the finance manual.
The Assignment
ANZA have recently received approval to disburse microloans of $5,000 - $10,000 to their entrepreneurs, Andrew’s role was to provide the necessary technical assistance to implement sustainable controls and systems.
Jeannette’s brief included advising one of Anza’s clients, MHI (insurance), on their financial systems and controls and financial reporting. She was also tasked with providing training to the Business Development Advisers who work directly with the many social businesses Anza supports.
You can read more about their assignment in Andrew and Jeannette's highly entertaining blog here.
The Impact
As a result of Andrew and Jeannette’s placement, Anza are now able to offer loans through the Anza Growth Fund, which will provide vital capital to the social enterprises they support.
Immediate
Organisational
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Able to deliver more effective and sustainable programmes
Personal
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Finance staff are more confident and better able to carry out their daily functions
Long term
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The need for good accounting/ financial management is now seen by Management and Programmes staff as an integral part of the organisation's success
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Finance staff have an enhanced confidence in their potential to learn and develop further within their roles
What's next?
As part of AfID’s long-term commitment to providing finance and accounting support to Anza, a further AfID volunteer will begin a longer term assignment later in the year.
In addition to mentoring a newly appointed Finance Manage, the next volunteer’s role will be to ensure Anza’s loan funds are well managed and that the accounting for this is properly embedded within their current finance system.
The assignment will also involve providing consultancy support to some of the social businesses in the areas of QuickBooks implementation, financial modelling and helping them to become ‘investor ready’.
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