Ethiopis Tafara takes over IFC’s $17B Africa portfolio, aiming to boost private sector growth and development across all 54 nations.
IFC Appoints Ethiopis Tafara as Vice President for Africa
NAIROBI, KENYA — May 2, 2025
The International Finance Corporation (IFC), the private sector arm of the World Bank Group, has appointed Ethiopis Tafara as its new Vice President for Africa, overseeing a $17 billion portfolio across the continent. His mandate: accelerate private sector-led growth, job creation, and sustainable development across all 54 African countries.
“Though challenges persist, the opportunities are even greater,” said Tafara. “Africa’s private sector and entrepreneurs are more dynamic than ever before.”
Tafara, a U.S. national born in Ethiopia, replaces Sérgio Pimenta, who retired after nearly 30 years of service. He will be based at IFC’s Africa hub in Nairobi, putting him close to key regional economies like Kenya, Ethiopia, Nigeria, and Ghana.
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🌍 A Strategic Appointment Amid IFC’s Africa Push
Tafara steps into this role during a period of unprecedented IFC expansion on the continent. In FY 2024, the institution committed a record $56 billion globally, with a major share directed to 45 African nations, including 30 fragile and low-income countries.
Under Tafara’s leadership, IFC will focus on:
- Infrastructure development
- Agribusiness growth
- Telecoms and digital transformation
- Manufacturing and financial services
“Ethiopis brings a unique blend of legal, risk, and sustainability expertise,” said Makhtar Diop, IFC Managing Director. “He’s the right leader at the right time for Africa.”
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🧠 From Legal Advisor to African Strategist
Tafara brings decades of experience within the World Bank ecosystem, having served as:
- Vice President, Chief Risk, Legal & Sustainability Officer at MIGA
- General Counsel for IFC
- Former legal advisor on global capital markets and governance frameworks
He holds a Juris Doctor from Georgetown University Law Center and a bachelor’s degree from Princeton University. Fluent in five languages—including Amharic, French, Italian, Spanish, and English—Tafara has a deep understanding of Africa’s legal and business environments.
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📈 Building on IFC’s Development Legacy
Tafara takes the helm as Africa grapples with:
- Debt stress
- Climate shocks
- Geopolitical instability
Yet, he remains optimistic.
“You cannot unlock Africa’s potential without the private sector,” he said. “And IFC is built to move at the pace of business while pursuing development impact.”
Through blended finance, de-risking tools, and advisory services, IFC is helping unlock capital from private investors. Tafara is expected to enhance collaboration across the World Bank Group and build stronger partnerships with African governments, entrepreneurs, and multinationals.
📌 Internal Link: Africa’s private sector-led transformation
🔗 About IFC
The International Finance Corporation is the largest global development institution focused on the private sector in emerging markets. Active in 100+ countries, it mobilizes capital, expertise, and partnerships to drive inclusive growth and innovation.
🔍 Learn more at www.ifc.org
