Analyst
Investment and Operations

About DevCap

DevCap Investment Partners is an impact-focused investment firm building a US$25M private equity fund for high-growth SMEs in Ghana and Nigeria. We invest in agribusiness, food and consumer goods, essential services including healthcare and education, and clean technology. We look for businesses that can grow, create jobs and serve everyday needs, with a focus on gender-led businesses.

We are an early-stage firm. The fund is being raised, the team is small, and every hire has a real effect on how we work. We have an advisory board and an Investment Committee made up of experienced finance and governance professionals, and we engage with DFIs, foundations and institutional investors.

The role

You will build models, run research, prepare papers and keep the firm organised, working with the partners, investment team and external advisers. About 70% of the role is investment work and about 30% is administration and operations. The administration work is a core part of how the firm runs and gives you a close view of how a fund is governed, regulated and managed.

Key responsibilities

Deal sourcing and screening

• Cover the local pipeline: the Accra Analyst leads on Ghana and the Lagos Analyst leads on Nigeria. Both support each other’s deals.
• Maintain the pipeline tracker, screen opportunities against investment criteria and write concise screening notes.
• Research sectors and companies and prepare briefing notes before meetings.

Financial modelling and analysis

• Build company valuation and returns models covering revenue, margins, cash flow, debt and exit scenarios.
• Run sensitivity and downside cases, including currency depreciation, and explain the results.
• Support the fund model, including fees, cash flows and net investor returns.
• Check models, maintain version control and document assumptions.

Due diligence

• Review financial statements, management accounts, contracts and projections and flag gaps.
• Maintain diligence checklists and track requests with companies and advisers.
• Analyse markets, competitors and comparable transactions.
• Summarise legal, financial, commercial and ESG findings.

Investment Committee and investor materials

• Draft investment memos and committee papers with clear recommendations, risks and supporting analysis.
• Prepare investor presentations and documents and keep figures consistent.
• Support investor questionnaires and data requests.
• Record committee decisions and follow up on conditions and actions.

Fundraising and investor relations

• Maintain investor and fundraising trackers.
• Research prospective investors, their mandates and past investments.
• Help prepare updates, reports and correspondence.

Portfolio monitoring

• Collect and analyse company financial and operating reports.
• Track performance against the investment case and flag early warning signs.
• Support impact and ESG data collection with the ESG and impact lead.

Administration and operations

• Manage diaries, meetings, travel and follow-ups.
• Prepare board, advisory board and Investment Committee packs, minutes and action lists.
• Maintain data rooms, contracts, KYC records and corporate documents.
• Support regulatory, legal and company secretarial filings with advisers in Ghana, Nigeria, Mauritius and other jurisdictions.
• Coordinate with banks, administrators, lawyers, auditors and consultants.
• Track budgets, invoices and payments and support recruitment, onboarding and office logistics.

What success looks like

• First 30 days: Understand the strategy, pipeline and processes. Take over trackers and the data room and produce accurate notes and packs.
• First 90 days: Build a company model with limited supervision, draft screening notes and an investment memo, and run the administration calendar independently.
• First 12 months: Support a deal from screening to Investment Committee, own pipeline and investor trackers, and review your work before it reaches the partners.

Requirements

• A bachelor’s degree with a first-class or upper-second-class result in finance, economics, accounting, business, actuarial science, mathematics, statistics, engineering or a related field from a recognised university.
• 0–2 years’ experience in investment banking, private equity, transaction advisory, consulting, audit or a similar analytical role. Strong internships count.
• Right to work in Ghana for the Accra role or Nigeria for the Lagos role.
• Ability to build a three-statement or cash flow model in Excel from a blank sheet, with checks and clear assumptions.
• Strong financial statement analysis, valuation basics, research and clear English writing.
• Advanced Excel and strong PowerPoint, Word and organisational skills.

We value ownership, attention to detail, discretion, flexibility and a willingness to move between analysis and routine administration without lowering quality.

Preferred

• Progress toward or completion of CFA, ACCA, ACA, actuarial exams or a similar qualification.
• Exposure to African markets, SMEs, impact investing or development finance.
• Experience supporting senior people or team operations.
• Familiarity with data rooms, KYC and corporate documents.
• Knowledge of Nigeria or other West African markets.

How we work and what we offer

The roles are office based in Accra and Lagos, with flexibility to be agreed. The Analysts work closely across both countries, with direct access to the partners. Hours may stretch around investor deadlines and committee dates. All investor and company information is confidential, and you will sign a confidentiality agreement.

We offer hands-on experience across the deal cycle, exposure to our advisory board, Investment Committee, DFIs, foundations and institutional investors, regular feedback, support toward professional qualifications and opportunities to grow with the fund.

Salary and start date will be agreed with the successful candidates. Permanent or fixed-term arrangements and probation periods will be confirmed.

Selection process

1. Application review after 15 November 2026.
2. A short Excel modelling exercise and written case.
3. First interview with the investment team.
4. Final interview with the partners.
5. Reference checks and offer.

How to apply

Send your CV and a one-page cover letter to info@devcapinvestment.com. Tell us which position you are applying for, why you want the role and why you are interested in impact investing in West Africa.

Use the subject line Analyst Application, Accra or Analyst Application, Nigeria.

Application deadline: 15 November 2026.

DevCap is an equal opportunity employer. We welcome applications from all qualified candidates and encourage women to apply.