Investment Analyst Intern, Principal Investment Fund

About the role

Africa50 is a specialist investor in African infrastructure, having raised over US$1 billion from African countries, the African Development Bank, African central banks and Africa's largest pension fund. Its Principal Investments Fund invests minority equity and quasi-equity in infrastructure and related businesses across Africa. Africa50 is seeking a motivated and analytical intern for its Principal Investment team in Casablanca, with full integration into the team and exposure to the investment cycle, from screening and evaluation to transaction execution and portfolio monitoring.

Key responsibilities

• Screen investment opportunities and assess their strategic fit
• Conduct industry, market and company research, including competitive dynamics and growth opportunities
• Build and review financial models, perform valuation analyses and test key assumptions
• Prepare investment memoranda, presentations and other materials for internal decision-making
• Support due diligence and transaction execution, coordinating and reviewing information from companies and advisers
• Monitor portfolio companies' financial and operational performance
• Assess investment risks and mitigants, ESG considerations and value-creation opportunities

Required profile

• Undergraduate or graduate student from a leading university
• Previous internship experience in M&A, investment banking, private equity, project finance, transaction services or a closely related field
• Demonstrated interest in private equity, infrastructure investment and African markets
• Excellent written and verbal English; French is an advantage (the application states excellent English and French)

Required skills

• Solid understanding of financial statements, corporate finance and company valuation
• Financial modelling and Excel
• Presentation skills with PowerPoint

The internship lasts 6 months starting in January 2027, is based in Casablanca with flexible working arrangements and possible travel within Sub-Saharan Africa. Only shortlisted candidates will be contacted.