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Malawian heads International Finance Corporation Ethiopia, Zambia

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The World Bank’s private sector financing arm, the International Finance Corporation (IFC), has appointed local finance expert Madalo Minofu as its new Country Manager for Ethiopia, Malawi and Zambia.

In a statement Wednesday, IFC said in her new role, Minofu will help strengthen the role of the private sector in energy, telecommunication, manufacturing, and agribusiness development in the three countries to create jobs and opportunities as the region continues its Covid recovery and confronts new economic challenges.

In her new role, Minofu will be based in Addis Ababa and will work closely with her World Bank Group counterparts and development partners to further boost investment across key sectors in the three countries.

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In the statement, Minofu is quoted to have affirmed her commitment to working closely with partners in the three countries to develop solutions that support the private sector to navigate the current challenges and contribute to job creation

“Africa is facing serious economic challenges exacerbated by global economic shocks, climate change and rising inflation, which have heavily impacted the private sector, underlining the importance of collaboration to respond to the needs of people and economies,” Minofu said.

IFC’s Regional Director for Eastern Africa Jumoke Jagun- Dokunmu commended Minofu for the new role

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“The region is confronted by rising inflation and food insecurity; so, we must work even more closely with our partners to ensure the private sector contributes to growth and development.

“I am confident that Madalo, who brings more than 20 years of experience delivering high-impact projects and investments, will continue to deepen the impact of IFC’s work in Ethiopia, Malawi and Zambia,” Jagun- Dokunmu said.

Minofu joined IFC in 2017 as Resident Representative for Zambia and Malawi, where she led the development and implementation of IFC’s investment and advisory work, managed key engagements with government and private sector partners to improve the investment climate and facilitated a diverse investment pipeline.

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