Investment appraisal, SME finance and fund management specialist – Tunisia

Aninver Development Partners SL (www.aninver.com) is looking for a Investment appraisal, SME finance and fund management specialist for a finance consultancy assignment financed by UNIDO in Tunisia.

Aninver Development Partners is seeking an Investment appraisal, SME finance and fund management specialist for an upcoming consultancy assignment in Tunisia with UNIDO. The initiative supports the operationalization of an Impact Fund managed by national financial institutions to enhance access to private financing for small and medium-sized enterprises (SMEs), young people, and women, while promoting employment and environmental sustainability.

The expert will play a key role in developing and validating an operational impact measurement and management framework aligned with global standards and UNIDO's Investment Project Preparation and Appraisal (IPPA) and Computer Model for Feasibility Analysis and Reporting (COMFAR) methodologies. This 5-month assignment bridges financial assessment, fund management, and impact tracking to strengthen the national SME finance ecosystem.

Aninver is preparing a proposal for this assignment. The selected expert will be part of the proposed team; the engagement is conditional on the contract being awarded to Aninver. The full Terms of Reference for the position are shared with shortlisted candidates.

Objectives of the assignment

• Review global impact measurement, management, and reporting principles in the context of Tunisian SME finance.
• Define impact logic, dimensions, and a harmonized indicator system compatible with UNIDO's IPPA and COMFAR approaches.
• Specify investment appraisal methodologies, calculation methods, data requirements, and reporting frequencies.
• Design practical screening, appraisal, target setting, and monitoring tools for impact-oriented investment funds.
• Translate framework requirements into COMFAR-ready functional specifications.

Scope of work

• Conduct inception meetings, map stakeholders, and establish a proportionate consultation methodology.
• Review global impact reporting frameworks, institutional processes, and data availability within the SME finance sector.
• Develop the theory of change, impact logic, and framework architecture for the Impact Fund.
• Create the indicator catalogue, definition sheets, and calculation logic, balancing core and sector-specific metrics.
• Adapt practical data collection, monitoring, and reporting tools for fund operationalization.
• Prepare COMFAR-ready functional specifications, data fields, formulas, and validation rules without software development.
• Test and validate the framework using anonymized investment cases and stakeholder consultations.
• Design an operationalization plan, governance arrangements, and execute knowledge transfer sessions.

Your role as Investment appraisal, SME finance and fund management specialist

• Perform investment appraisals, project finance assessments, and feasibility analyses for impact-oriented SMEs.
• Advise on fund management practices, portfolio monitoring, and investment screening processes.
• Contribute to the design of impact logic, indicator systems, and scoring frameworks.
• Ensure alignment of financial and economic analysis indicators with IPPA and COMFAR methodologies.
• Participate in the testing and validation of the framework using historical or anonymized investment cases.
• Collaborate with technical specialists to define functional requirements for financial software integration.
• Support stakeholder consultations and contribute to operational handover and knowledge transfer.

Requirements

• Education: Not explicitly stated in ToR
• Minimum 7 years in investment appraisal, project finance, feasibility analysis, SME finance, impact-oriented funds, financial institutions or portfolio monitoring
• Languages: English and French capacity

Desirable

• Experience with IPPA, COMFAR or comparable investment appraisal methodologies will be considered an advantage
• Prior experience with Investment Project Preparation and Appraisal (IPPA) methodologies.
• Familiarity with the Computer Model for Feasibility Analysis and Reporting (COMFAR).
• Previous professional experience in North Africa or the wider MENA region.

An experienced investment appraisal and SME finance professional with at least 7 years of expertise in project finance, impact funds, and financial institutions in Tunisia or comparable settings, possessing strong bilingual capabilities in English and French.

Assignment details

• Location: Tunisia
• Financed by: UNIDO
• Sector: Finance
• Estimated duration: 5 months
• Contract: individual consultancy (conditional on award)

About Aninver Development Partners

Aninver is an international development consulting firm headquartered in Spain. It supports governments, development banks, UN agencies and bilateral donors with feasibility studies, technical assistance, evaluations and capacity building across Africa, Latin America, the Caribbean, Europe, the Caucasus, Central Asia and Asia-Pacific, working with a network of international and national experts.

Why apply

• Join a multidisciplinary team on a UNIDO-financed project in Tunisia.
• Individual consultancy: flexible, output-based engagement with an experienced proposal team.
• Your CV stays in Aninver's expert network for future assignments that match your profile.

How to apply

Sign in (or create a free account) and upload your CV in English. Add your LinkedIn profile, indicative daily rate and availability to speed up the assessment. Aninver will contact the shortlisted candidates.

Frequently asked questions

Is the position confirmed? The engagement depends on the contract being awarded to Aninver. Shortlisted experts are included in the proposal with their consent.

Can I apply if I am not based in the country? Yes, unless the requirements say otherwise; relevant regional experience is an asset.

What happens with my CV? It is used to assess your fit for this and future positions and is not shared with third parties without your consent.