Malawian national to lead International Finance Corporation in three countries


International Finance Corporation (IFC) has appointed  Madalo Minofu as the country manager for Ethiopia, Malawi and Zambia.

Minofu is a Malawian national who joined IFC in 2017 as the Resident Representative for both Zambia and Malawi.

She led the development and implementation of IFC’s investment and advisory work in Malawi and Zambia and managed key engagements with government and private sector partners to improve the investment climate and facilitated a diverse investment pipeline

This new role is effective from 1 October 2022 and currently 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.

In her new role, Minofu will help strengthen the role of the private sector in energy, telecom, manufacturing, and agribusiness development in the three countries to create jobs and opportunities as the region continues its COVID-19 recovery and confronts new economic challenges.

Minofu said she was looking forward to working closely with partners in Ethiopia, Malawi and Zambia 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,” said Minofu.

Jumoke Jagun-Dokunmu, IFC’s Regional Director for Eastern Africa, said:  “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.”

Prior to joining IFC, Minofu worked with the Development Bank of Southern Africa, where she spent nearly 10 years.

 

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