Development finance institution the International Finance Corporation (IFC) has appointed Madalo Minofu as country manager for Ethiopia, Malawi and Zambia to strengthen the role of the private sector in energy, telecommunications, manufacturing and agribusiness development to create jobs and opportunities as the region continues its Covid-19 recovery and confronts new economic challenges.

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. She took up the new position, effective 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," says Minofu.

"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," she adds.

"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," says IFC regional director for Eastern Africa Jumoke Jagun-Dokunmu.

"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," he says.

Minofu joined the IFC in 2017 as the resident representative for Zambia and Malawi where she led the development and implementation of the 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.

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

In addition, she has held senior-level roles at Pfizer and Gillette. Minofu holds an MBA, with a specialty in finance, from the Strathclyde Graduate Business School in the UK.