Established in 1944, the World Bank Group (WBG) is one of the world’s largest sources of funding and knowledge for development solutions. The WBG consists of five specialized institutions: The International Bank for Reconstruction and Development (IBRD), the International Development Association (IDA), the International Finance Corporation (IFC or the Corporation), the Multilateral Investment Guarantee Agency (MIGA), and the International Centre for the Settlement of Investment Disputes (ICSID). Within the World Bank Group, IFC is a legally and financially autonomous institution, with its own Articles of Agreement, share capital, management and staff. IFC has its own Board of Directors which is equal in composition to the Board of the IBRD.
IFC is the largest global development institution focused on the private sector in emerging markets. It is the world’s largest multilateral source of loan and equity financing and advisory services for private sector in the developing world. Working with 2,000 businesses worldwide, IFC draws on more than six decades of experience to create opportunities and solutions where they are needed most.
With support of its shareholders and as part of its recent capital increase package, IFC embarked on an ambitious new growth strategy – IFC 3.0 – the outcome of which will be doubling the volume of Corporation’s business by 2030 and tripling the work it does in Low Middle Income (LMICs) and Low Income Countries (LICs) and Fragile and Conflict affected States (FCS). To do so, IFC will need to deploy its full range of financing, mobilization and advisory services as well as convening power and thought leadership and knowledge resources. This also calls for the need to conceive and generate opportunities for investing by proactively working “Upstream” to create, deepen, facilitate and expand markets and opportunities for the private sector and to design, catalyze and implement new investment products and projects. This strategy also relies on a closer WBG collaboration to ensure that public and private sector efforts are aligned towards encouraging and enabling private sector participation in economic activity. This supports the approach by which, when working with clients, the WBG will first seek private sector solutions to address development challenges—where such solutions are advisable and can be effective—and reserve public financing for projects only when other options are less optimal (the “Cascade” approach).
The Manufacturing, Agribusiness and Services (MAS) Group is a key industry group at IFC, responsible for managing roughly a large part of IFC’s overall business in terms of volume and capital at risk. MAS engages in a wide range of sub-sectors including light and heavy manufacturing, agribusiness, health, education, property, retail and tourism, and other areas, with both investment and advisory services delivered to IFC’s clients through IFC’s global network.
IFC’s priorities in the Africa Region for MAS are: (i) grow business in the region, and achieve strong profitability and impact (ii) build new and nurture existing client relationships to make IFC the preferred partner for key clients (iii) manage portfolio of assets for strong profitability and impact; (iv) support local companies, while improving transparency and corporate governance; (v) catalyze foreign investment, including mobilizing B loans and parallel loans; (vi) introduce and develop new financial products; (vii) build long-term partnerships with strong regional players and (viii) develop client, sector and country-level solutions that can be scaled and replicated.
IFC is seeking a Regional Industry Director for MAS, to be based in Dakar or Nairobi, who will have primary responsibility for MAS activities in Africa Region. This is a key leadership role requiring significant and demonstrated leadership and management skills.
Duties and Accountabilities
Client and stakeholder responsibility
• A PhD, Master’s degree or equivalent professional qualification in economics, finance or business and a minimum of 20 years of relevant experience.
|Closing date:||July 27, 2021|