Nairobi, Kenya, October 19, 2022—IFC has appointed Madalo Minofu as its new Country Manager for Ethiopia, Malawi and Zambia. 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.
A Malawian national, Minofu joined IFC in 2017 as the 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.
In her new role as IFC's Country Manager for Ethiopia, Malawi and Zambia, 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. Her new role took effect October 1.
"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. I look 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," said Minofu.
"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," said Jumoke Jagun-Dokunmu, IFC's Regional Director for Eastern Africa.
Prior to joining IFC, Minofu worked with the Development Bank of Southern Africa, where she spent nearly 10 years. In addition, she has held senior-level roles at Pfizer and Gillette. Minofu holds a Master of Business Administration (MBA), with a specialty in finance, from the Strathclyde Graduate Business School in the United Kingdom.
About IFC
IFC—a member of the World Bank Group—is the largest global development institution focused on the private sector in emerging markets. We work in more than 100 countries, using our capital, expertise, and influence to create markets and opportunities in developing countries. In fiscal year 2022, IFC committed a record $32.8 billion to private companies and financial institutions in developing countries, leveraging the power of the private sector to end extreme poverty and boost shared prosperity as economies grapple with the impacts of global compounding crises. For more information, visit www.ifc.org.
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PHOTO - Madalo Minofu, IFC Country Manager for Ethiopia, Malawi and Zambia
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