Project Finance Accountants

at Kenya Electricity Generating Company
Location Nairobi, Kenya
Date Posted June 12, 2021
Category Accounting
Job Type Full-time
Currency KES


KenGen was incorporated on 1 February 1954 under the Companies Act (Chapter 486 of the Laws of Kenya) as Kenya Power Company (KPC) to construct the transmission line between Nairobi and Tororo in Uganda as well as to develop geothermal and other generating facilities in the country. Since its inception, KPC sold electricity in bulk at cost to Kenya Power under a management contract.

Job Summary

Reporting to Chief Finance Officer, Projects Finance & Accounting, the Projects Finance & Accountant will be responsible for ensuring proper and timely accounting for finances, debt management and costs of projects in compliance with the regulatory framework.

Key Duties

  • Ensure project costs are accurately accounted for in the correct project networks, accounts, cost centres and accounting periods
  • Reconcile Work-in-Progress accounts, and in liaison with Financial Reporting Team ensure costs of completed projects are settled and capitalised promptly
  • Monitor projects cost and time overruns, continuously investigate variances and make recommendations to management for corrective action
  • Check and verify project expenditure and payments for accuracy, completeness, authenticity and adequacy of supporting documents
  • Ensure Contractors/Suppliers payments and Financiers’ loans repayments are made within the stipulated contractual terms;
  • Prepare management reports in a timely manner as may be required by the management, external governing bodies and development partners from time to time;
  • Ensure accurate requests for disbursements are made on time as per various loan agreements;
  • Participate in preparation and/or review tender documents;
  • Prepare tender evaluation checklists and participate in such evaluations;
  • Prepare contract negotiations checklists and participate in such negotiations;
  • Support Projects Execution team to ensure timely and realistic budgets preparation and submission;
  • Identify and recommend to the Asst. Manager-Projects Finance & Accounting, Projects accounts due for closure upon project completion.
  • Implement and recommend changes in Project Financing Policy to guide and improve operational procedures.
  • Manage the Sectional budget to ensure optimization of costs.
  • Address Staff performance; Motivation; Training and development issues in the Section.
  • Provide specifications for the Sectional related procurement to the Corporate Finance Manager.
  • Implement Safety, Quality Management Systems and Environmental Management Systems within the Section.

Key Qualifications

Academic Qualifications

  • Bachelor’s Degree in Accounting or Finance or Commerce or equivalent
  • Masters in a management related course will be an added advantage

Professional Qualifications & Membership to professional bodies

  • CPA-K or ACCA (UK) or equivalent.
  • Member of ICPAK or equivalent

Previous relevant work experience required

  • At least 5 years of experience as an accountant with specific experience in accounting for capital projects

Additional Information

Minimum Years of Working Experience : 5 Minimum Education Level : Undergraduate

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