The International Finance Corporation, IFC, a member of the World Bank Group, has announced the appointment of M. Shah as its Senior Country Manager for Nigeria.
Shah succeeded Eme Essien Lore who served as IFC’s Country Manager for Nigeria for six years.
IFC in a statement said the appointment was necessary to support long-term and inclusive growth of Nigeria’s private sector.
Shah in his new role is expected to lead IFC’s efforts to help strengthen Nigeria’s economy by creating jobs and opportunities as well as support the country’s private sector as it recovers from the effects of COVID-19. A national of Trinidad and Tobago, Shah joined IFC in 1998 after building a career in commercial banking in his home country and in Canada.
He has deep investment experience in IFC 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.
The newly appointed Country Manager for Nigeria has supported development in Africa extensively, leading IFC’s manufacturing investment transactions in sub-Saharan Africa over the past 9 years with an initial focus on the chemicals and fertilizers sub-sector.
Most recently, Shah served as IFC’s Chief Investment Officer in the Manufacturing, Agribusiness and Services department for Africa.
Commenting, Shah said, “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.
“Nigeria—and all of Africa—is at an important crossroad because of COVID-19 and the economic decisions made today will resonate for years to come. My focus will be on helping to ensure that the private sector is at the heart of Nigeria’s recovery and a driving force for job creation and poverty reduction.”
Speaking further, IFC’s Regional Director for Southern Africa and Nigeria, Kevin Njiraini, said, “Nigeria is a priority for 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 Kalim’s proven leadership in transformational projects will serve him well in his new role in Nigeria.”
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.