NAFASI YA KAZI- Natural Extracts Industries Ltd, Finance Lead

Finance Lead 

Job Description


Natural Extracts Industries Ltd (NEI) is pioneering the sustainable, natural flavour  manufacturing industry in Tanzania, starting with vanilla and other flavour extracts. The company works in all areas from cultivation, to post-harvest processing, value-add manufacturing and international sales and marketing. The smallholder outgrower network currently integrates over 4,000 vanilla farmers from Kilimanjaro, Arusha, Morogoro and Kagera regions, and through this sourcing model NEI aims to deliver a long term socioeconomic impact of ~$280 in incremental annual income per smallholder household. The company also works with farmer groups in Mbeya and Tanga regions for cocoa beans sourcing. Current products include: liquid flavours, such as extracts from vanilla, orange, cocoa and coffee; and solid flavours like vanilla pods, cocoa powder and nibs. The company has been widely recognised, including awards from the Nestle Creating Shared Value Prize and Africa Enterprise Challenge Fund. It is embarking on a high growth trajectory, particularly in expanding its production capacity, supply chain and product diversification which has created this position.

Role responsibilities
The Finance Lead will be responsible for the following activities:

  • Overall responsibility and accountability for financial accounting of the company ledger,  per International Financial Reporting Standards (IFRS), which will be done by recording all the company transactions on an ERP system ( and keeping orderly physical (hardcopy) and scanned (softcopy) files of all relevant records;
  • Overall responsibility and accountability for financial controls and management:  o Controlling of inventory and stocks, including raw materials and general  inventory orders, record keeping and warehousing; and conducting monthly inventory physical audits, explaining differences and accounting for these in the  ERP system;
  • Reconciling bank statements every month;
  • Maintaining the fixed asset register;
  • Managing relationships with banks and the Tanzania Revenue Authority (TRA);
  • Managing financial assets and Company investments;
  • Managing payroll and consultant payments, and other regular payments including TRA (PAYE, WHT, SDL, VAT) and other regulatory bodies like NSSF/PPF, WCF, TBS, TFDA, OSHA, NEMC, District Councils, etc.;
  • Preparing monthly, quarterly and annual financial statements/reports (including those for the Board of Directors);
  • Coordinating with the auditor to prepare annual statements and submitting the same to TRA;
  • Assisting the Sales Team with reconciling invoices on a weekly basis, managing aged receivables, and other finance-related needs as may arise;
  • Ensuring financial, labour and other regulatory compliance and general risk management (excluding topics on health, safety, environment and manufacturing):
  • Staying abreast of updates on government policies and legislation, particularly  monitoring publications on Tanzania’s Official Gazette;
  • Assisting in the preparation of general paper work for submission to government  entities, parastatal organisations, investors, donors and other parties, as may be needed by NEI;

Ensuring all assets are insured against appropriate risk;

  • Managing the Finance Assistant to perform with excellence and without errors:
  • Petty cash box (using the imprest methodology), M-Pesa accounts, online  banking transfers, preparing cheques, and general cash disbursements/payments, recorded using payment vouchers;
  • Preparing employee payroll, processing consultant invoices, and payments to  casual workers, including verification of tasks completed and control checks;
  • Managing general office needs, such as procurement of telecommunication and  other related services;
  • General physical record keeping of all financial matters (e.g., purchase  orders/invoices, payment vouchers, bank statements, asset registers, etc)
  • Collecting on customer debts as per the aged receivables report;

Managing the Company mobile telephone line;

  • Follow, without exception, all work instructions, health/safety rules and quality control  measures as per the Company’s Quality Management System, including all Standard  Operating Procedures (SOPs) and Good Manufacturing Practices (GMPs);
  • Furthering the company mission: to become a leading African manufacturer of premium  natural flavour products for the home baking and commercial kitchen markets, while  providing sustainable, increased income for smallholder farmers;
  • Adhering to and instituting the company values of Professionalism, Ambition and  Teamwork;
  • Any other duties as may be required from time to time by the management team or the  Directors.

Desired skills
The Finance Lead will have the following qualifications and competencies:

  • Bachelor’s degree or equivalent in Accounting (this is a requirement and no candidates  will be considered without this), with:
  • Deep knowledge of International Financial Accounting Standards (IFRS) and  accounting within a manufacturing context (e.g., allocations for bill of materials, cost of goods sold, etc.)
  • Membership to the National Board of Accountants and Auditors (NBAA); and
  • CPA/CFA qualifications a very strong plus;
  • At least 3-5 years of experience as an Accountant or Financial Controller; basic HR  management skills desirable;
  • Has experience in manufacturing and operations companies
  • Experience managing foreign investors and/or donor grant management a strong plus;
  • Ability to negotiate with contractors, follow correct procurement procedures and to  quantitatively analyse pricing;
  • Ability to communicate clearly and effectively, both oral and written, in Swahili and  English;

Premium natural flavours from Tanzania

  • Highly skilled in computer productivity packages such as Microsoft Office, Google Apps  and ERP systems;
  • Ability to work in a multi-cultural environment and be sensitive to foreign culture;
  • Ability to work independently, with limited supervision;
  • A passion for the food industry and social impact.

How to apply:

If you would like to apply for this role, please contact us at, including your CV and a brief cover letter.  The deadline for applying is 25th June 2019.

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