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International Finance Corporation (IFC), the arm of the World Bank Group that lends to the private sector, today, announced the appointment of Kalim M. Shah as its Senior Country Manager for Nigeria.

In a statement it sent to Financial Nigeria, IFC said the appointment was made to support the long-term, inclusive growth of Nigeria’s private sector.

“In his new role, Shah will lead 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,” IFC said.
 
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. According to the statement, Shah has supported development in Africa extensively, leading IFC’s manufacturing investment transactions in sub-Saharan Africa over the past nine 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. As Senior Country Manager for Nigeria, Shah will be based in Lagos.
 
"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,” said Shah. “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 ensure that the private sector is at the heart of Nigeria’s recovery and a driving force for job creation and poverty reduction.”

IFC said its 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.

IFC has supported Nigeria during 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.

"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," said Kevin Njiraini, IFC’s Regional Director for Southern Africa and Nigeria.

Shah succeeds Eme Essien Lore who left her role after successfully serving as IFC’s Country Manager for Nigeria for six years.