Senior Economist at International Finance Corporation (IFC) – World Bank Group

IFC Africa Vice-Presidency (CAF) leads the mobilization of private sector investment in Africa. Over nearly six decades, IFC has invested more than $25 billion in African businesses and financial institutions. We are a leading provider of advice to promote a sustainable private sector and mobilize capital from other investors who invest alongside IFC in critical sectors for Africa’s future.

CAF’s Regional Economics team (CAFCE) supports the Africa region through provision of country economic diagnostics, strategy, and engagement products as well as through direct support to operational teams and country units, in collaboration with economists throughout the World Bank Group. Specifically, the team has three principal functions:

Diagnostics and strategy: Contribute/ Lead country private sector diagnostics (CPSDs), country climate development reports (CCDRs), IFC country strategies and the full range of WBG country engagement products: Performance Learning Reviews (PLRs), Systematic Country Diagnostics (SCDs), and Country Partnership Frameworks (CPFs) in collaboration with IFC Operations and partners in the World Bank Group.

Support to operations: Support regional operations by reviewing the economic, development and strategic impact of IFC operations, as well as contributing to the economic analysis of project documents, board papers, regional / country briefs, etc.; monitor and support the implementation of CPSD recommendations: sectoral deep dives and policy reforms implementation.

Analytics: Conduct in-depth analytics on specific themes relevant to private sector development at the country or regional level.

CAFCE is hiring a Senior Country Economist to be based in Lagos, Nigeria working closely with IFC country, industry, and upstream teams in select countries in Central and West Africa. The Senior Economist will report to the Regional Economics Manager in CAFCE.

Duties & Accountabilities
The team is looking for a Senior Economist, to be based in Lagos, Nigeria to lead the CAFCE work program contributions in the Central and Anglophone West Africa sub-region, working closely with the respective country, industry, and advisory teams on the ground. This will include:

  • Lead the monitoring of macro-economic conditions and trends for countries in a designated IFC country cluster within the sub-region, and advise the IFC Regional Director, Country Manager, and operational teams on its impact on IFC operations. Help identify macro-economic risks to IFC investments and strategies to mitigate them.
  • Lead, review, coordinate macro-economic analysis to support IFC investment operations including due diligence. Draft and peer review relevant sections of IFC Board papers including country context and strategic fit.
  • Provide intellectual and technical leadership on topics of economic or strategic relevance to IFC, and produce policy and technical notes, briefs, presentations, and country reports for as requested by country management.
  • Lead, contribute, and review Country Private Sector Diagnostics, Country Climate Development Reports, and provide IFC input to WBG Country Engagement products, including Country Partnership Frameworks, Progress and Learning Reviews and other joint initiatives.
  • Serve as liaison with local and HQ World Bank teams (esp. CMU, EFI), IMF, and other development partners on the ground as well as client governments to help ensure that IFC engagements are aligned with WBG strategies and government development strategies.
  • Lead the support for IFC Country Manager and teams in the country cluster to develop IFC country strategies/ strategy updates to help maximize IFC development impact.
  • Support the development of industry strategies in the region. Monitor and support the implementation of Country Private Sector Diagnostic recommendations, sectoral deep dives, and policy reform implementation.
  • Facilitate interaction and exchange of expertise and knowledge with the broader IFC Economics VPU and CAF Region. Lead on analytical work / research on selected topics that inform IFC country programs and strategies as well overall PSD research agenda.
  • Mentor and support junior colleagues with technical and professional leadership.

Selection Criteria

  • Master’s or Ph.D. Degree in Economics / International Development / Public Policy or Business / Finance, with strong grounding in economics both from academic and practical experience perspective with a minimum of 10+ years (PhD with 7+ years) of relevant professional experience.
  • Strong analytical skills in macroeconomic, fiscal, trade policy and growth analysis, including related to climate change.
  • Demonstrated leadership in applying economic theory and concepts, and to contribute to discussions with internal clients on topics of economic or strategic relevance.
  • Solid understanding of IFC project cycles, approval/decision processes, and key drivers of IFC business decision making as well as knowledge and understanding of key IFC/WBG products and instruments and how they are deployed to pursue private sector development and country engagement.
  • Experience in and strong knowledge of the economic context and challenges of countries in Africa.
  • Demonstrated leadership qualities, initiative, and results orientation, with effective teamwork and mentoring skills.
  • Excellent written and verbal communication skills and ability to communicate effectively with high level stakeholders in English (French and Portuguese desirable).

Application Closing Date
3rd August, 2023.

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