Milken Institute, IFC, and The George Washington University welcome new class of Capital Markets Program scholars



Milken Institute, IFC, and The George Washington University welcome new class of Capital Markets Program scholars

Geoffrey Baum
Geoffrey Baum

Applications for the next class close on September 15, 2019

WASHINGTON, August 19, 2019 – Rising stars in government and finance from developing and emerging economies have arrived in Washington for a rigorous eight-month program designed to strengthen market economies around the world.  

This fourth cohort of Capital Markets Scholars includes 23 mid-career policymakers from central banks, stock exchanges, financial regulatory bodies, and ministries of finance from 18 countries. Eleven of the countries are new to the program, and half of this year’s Scholars are women. 

The program will double in size in 2020, with an additional class starting every January, it was announced today.

These executives benefit from full-tuition scholarships from the Milken Institute and IFC. They receive four months of graduate-level instruction at the George Washington School of Business (GWSB), supplemented by a speaker series with market practitioners, and applied workshops at the IFC and at the U.S. Securities and Exchange Commission. In Spring 2020, the scholars are placed by the Milken Institute in internships with leading companies in the U.S. financial sector - from hedge funds and asset managers to private equity firms and financial infrastructure providers. 

Program graduates earn a certificate from GWSB and join a global network of alumni and capital market leaders across more than 40 countries in Africa, Asia and the Caribbean. 

The Capital Markets Program was launched in 2015 with the understanding that well-functioning capital markets require the support of policymakers with robust skills in regulation and market intermediation, but that this experience is lacking in many countries, according to Staci Warden, Milken Institute Executive Director for Global Market Development. The program trains future leaders who will help ensure that financial markets contribute to business and employment opportunity, innovation, and sustainable economic growth around the world.

Starting in 2020, the Milken Institute, IFC and GW plan to accelerate the impact and reach of the Capital Markets Program by training two cohorts each year. According to program director Carole Biau, this expansion is a response to strong applicant demand, and aims to considerably boost the power of the alumni network. Moving to two cohorts per year will also create exciting opportunities for more countries, internship providers, and supporters to be involved, she added. 

Applications for the next class, which will begin in January 2020, are currently being accepted. The deadline to apply is September 15, 2019.

More details are available online at 

capital markets scholars

IFC-Milken Institute Scholars, Fall 2019 Class

• Mr. Kopano Bolokwe, Head of Product Development, Botswana Stock Exchange 
• Mr. Nenguba Chakalisa, Senior Dealer, Financial Markets Department, Central Bank of Botswana
• Mr. Tsametse Mmolai, Head of Listings and Trading, Botswana Stock Exchange

The Gambia
• Ms. Ya Maram Sosseh, Bank Examiner, Central Bank of The Gambia

• Ms. Sopio Bitsadze, Acting Head of Government’s Securities Division, Public Debt Management Department, Ministry of Finance of Georgia

• Ms. Millicent Matimu, Secondary Market Dealer, Central Bank of Kenya
• Mr. Anthony Murimi, Investment Analyst, Central Bank of Kenya

• Ms. Lilian Best, Secretary to the Board of Governors and Corporate Policy Coordinator in the Office of the Executive Governor, Central Bank of Liberia

• Mr. Badreddin Abuabdelah, Risk Manager, Central Bank of Libya

• Ms. Harizafy Andriantsoa, Economist, Central Bank of Madagascar

• Mr. Ely Cheikh Amar, Financial Analyst, Central Bank of Mauritania

• Ms. Helvi Fillipus, Deputy Director for Investments and Domestic Markets, Bank of Namibia

• Ms. Obiageri Christiana Ndukwe, Deputy Manager, Central Bank of Nigeria
• Mr. Kenneth Ohaeri, Team Lead Market Control in Market Operations, Nigeria Stock Exchange
• Ms. Fatima Sani Bala, Deputy Manager, Financial Markets Department, Central Bank of Nigeria

• Ms. Nazish Zubair, Additional Joint Director, Securities and Exchange Commission of Pakistan

• Mr. Mark Hong, Treasury Operations Officer, Bureau of the Treasury of Philippines

South Africa
• Ms. Taalya Phekun, Financial Markets Specialist, Market Intelligence and Operations Division, Financial Markets Department, South African Reserve Bank 

• Mr. Abdelrahiem Khalifa, Economist, Central Bank of Sudan

• Ms. Nomfundo Mamba, Portfolio Manager, Central Bank of Eswatini

• Mr. Mahmoudjon Harmaliev, Lead Specialist, International Relations Department, National Bank of Tajikistan

• Mr. Nurbek Darvishev, Chief of Division, Uzbekistan Fund for Reconstruction and Development

• Mr. Joseph Medzano, Deputy Director for Financial and Capital Markets, Ministry of Finance and Economic Development of Zimbabwe

About the Milken Institute
For the past three decades, the Milken Institute has served as a catalyst for practical, scalable solutions to global challenges by connecting human, financial, and educational resources to those who need them. Guided by a conviction that the best ideas, under-resourced, cannot succeed, we conduct research and analysis and convene top experts, innovators, and influencers from different backgrounds and competing viewpoints. We leverage this expertise and insight to construct programs and policy initiatives. These activities are designed to help people build meaningful lives, in which they can experience health and well-being, pursue effective education and gainful employment, and access the resources required to create ever-expanding opportunities for themselves and their broader communities. For more information, visit

About IFC
IFC—a sister organization of the World Bank and member of the World Bank Group—is the largest global development institution focused on the private sector in developing countries. The Bank Group has set two goals for the world to achieve by 2030: end extreme poverty and promote shared prosperity in every country. We leverage our products and services—as well as products and services of other institutions across the World Bank Group—to create markets that address the biggest development challenges of our time. We apply our financial resources, technical expertise, global experience, and innovative thinking to help our clients and partners overcome financial, operational, and other challenges. IFC is also a leading mobilizer of third-party resources for projects. Our willingness to engage in difficult environments and our leadership in crowding-in private finance enable us to extend our footprint and have a development impact well beyond our direct resources. For more information, visit

About the George Washington University School of Business
GW’s School of Business is an international leader in education and research, which prides itself on training future leaders to be global problem solvers and socially responsible managers. The school leverages its prime location—in the heart of Washington—by attracting visiting scholars and leaders in the business community to work, teach and engage with students. For more information, visit


Published December 11, 2020