To support the long-term, inclusive growth of Nigeria’s private sector, global development institution the International Finance Corporation (IFC) has appointed Kalim Shah as Nigeria senior country manager.
He succeeds Eme Lore who left the role after successfully serving as IFC Nigeria country manager for six years.
In his new role, Shah will lead the IFC’s efforts to help strengthen Nigeria’s economy, create jobs and opportunities, and support the country’s private sector as it recovers from the effects of Covid-19.
A national of Trinidad and Tobago, he joined the IFC in 1998 after building a career in commercial banking in his home country and in Canada and has deep investment experience in the IFC.
Shah’s experience is mainly in the manufacturing, agribusiness and services sectors and across several geographies including sub-Saharan Africa, Latin American and the Caribbean, South Asia, and Middle East and North Africa.
He has supported development in Africa extensively, having led the IFC’s manufacturing investment transactions in sub-Saharan Africa over the past nine years, with an initial focus on the chemicals and fertilisers subsector.
Most recently, Shah served as IFC CIO in the manufacturing, agribusiness and services department for Africa.
“I look forward to this exciting opportunity and to working with partners to strengthen Nigeria’s private sector, which is one of the most dynamic and exciting in Africa,” he says.
Nigeria, and all of Africa, says Shah, is at an important crossroad because of Covid-19 and the economic decisions made currently will resonate for years to come.
“My focus will be on helping ensure that the private sector is at the heart of Nigeria’s recovery and a driving force for job creation and poverty reduction,” he says.
The IFC’s focus in Nigeria includes nurturing the country’s expanding digital economy, helping to narrow the infrastructure gap, supporting entrepreneurship and boosting access to finance for smaller businesses and women entrepreneurs.
The IFC has supported Nigeria throughout the Covid-19 pandemic, deploying up to $200-million of its Covid-19 fast-track global financing facility to several financial institutions in Nigeria to help them increase lending to small businesses, which form the backbone of the country’s economy.
IFC Southern Africa and Nigeria regional director Kevin Njiraini says Nigeria is a priority for the IFC, with an active country portfolio across sectors including healthcare, manufacturing, agribusiness, financial services, infrastructure and technology.
“We are building on these strong foundations, and [Shah’s] proven leadership in transformational projects will serve him well in his new role in Nigeria,” he says.