Swazi Tshabalala, ex-Senior Vice President at the AfDB, has declared her candidacy for the bank’s presidency, focusing on infrastructure development and the private sector. Supported by Finance Minister Enoch Godongwana, she is the only female candidate among five contenders. The election is set for May 29 and will shape the future leadership of Africa’s premier financial institution.
Swazi Tshabalala, former Senior Vice President at the African Development Bank (AfDB), has announced her candidacy for the position of President of the institution, highlighting a focus on infrastructure development and the empowerment of Africa’s private sector. She is currently the sole female candidate among five individuals competing for the presidency. The election is scheduled for May 29, where she will face candidates from Zambia, Senegal, Mauritania, and Chad.
In support of her candidacy, South African Finance Minister Enoch Godongwana praised Tshabalala as a leader with an outstanding background in finance and economic development. He emphasized her experience at the AfDB, asserting that she is well-suited to guide the bank toward a new era of financial stability and impactful growth. The position follows the tenure of Nigeria’s Akinwumi Adesina, who has served for a decade.
Having joined the AfDB in 2018, Tshabalala advanced to Senior Vice President in 2021. Previously, she held key positions at Old Mutual Employee Benefits, Standard Bank Group, and Transnet, South Africa’s state-owned transport entity. Moreover, she served as the Chief Executive Officer of the Industrial Development Group from 2006 to 2014.
In her official statement, Tshabalala expressed the critical juncture at which Africa stands, calling for the AfDB to align with ambitious continental goals through strategic initiatives. Her vision includes creating a robust, results-oriented bank that emphasizes infrastructure enhancement, innovative financing options, and strengthening partnerships to realize Africa’s economic potential.
A candidate for the AfDB presidency must secure a majority vote from both African shareholders, who represent 60 percent of the bank, and non-African shareholders, who possess the remainder of the voting rights. This dual voting requirement underscores the collaborative nature of leadership within the institution.
In summary, Swazi Tshabalala’s candidacy for the presidency of the African Development Bank positions her as a formidable candidate with extensive experience in finance and infrastructure. Supported by significant endorsements, she aims to enhance Africa’s development through a focus on strategic priorities. The upcoming election on May 29 will determine the next leader who will steer the bank in meeting the continent’s aspirations.
Original Source: www.cnbcafrica.com
