Swazi Tshabalala Announces Candidacy for African Development Bank Presidency
Swazi Tshabalala, former Senior VP of AfDB, is running for president, focusing on infrastructure and private sector growth. She is the only woman among five candidates. Supported by South African Finance Minister Enoch Godongwana, Tshabalala aims to lead the AfDB into a new era, emphasizing strategic action for Africa’s development. The election takes place on May 29, 2024.
Swazi Tshabalala, former Senior Vice President of the African Development Bank (AfDB), has declared her candidacy for the presidency, emphasizing her commitment to transforming Africa through infrastructure development and increased involvement of the private sector. She is the sole female candidate among five contenders, including Samuel Maimbo from Zambia and Amadou Hott from Senegal, all competing to lead the top-rated financial institution.
The South African Finance Minister, Enoch Godongwana, has expressed his support for Tshabalala, stating, “Swazi Tshabalala is an exceptional leader with a proven track record in finance, infrastructure, and economic development. Her extensive experience at the African Development Bank and beyond makes her the ideal candidate to lead the institution into a new era of financial resilience and impact-driven growth.”
The election for the AfDB presidency is set for May 29, 2024, as Nigeria’s Akinwumi Adesina completes his 10-year term. Under Adesina’s leadership, AfDB significantly promoted Africa’s agricultural investment potential and recently launched an $8 billion initiative to enhance electricity access for 300 million Africans.
Since joining the AfDB in 2018, Mrs. Tshabalala has progressed to Senior Vice President by 2021. Her prior experience includes leadership roles at Old Mutual Employee Benefits and Standard Bank Group. She previously served as CEO of the Industrial Development Group from 2006 to 2014.
In a statement outlining her vision, Tshabalala remarked, “Africa stands at a pivotal moment, and the African Development Bank must rise to meet the continent’s ambitions with bold, strategic action. My vision is to build a financially strong, results-driven AfDB that prioritizes infrastructure, expands innovative financing solutions, and strengthens partnerships to unlock Africa’s full economic potential.”
To be elected as president, a candidate must secure a majority vote from both African shareholders, who represent 60 percent of the bank, and non-African shareholders, referred to as non-regional members, who hold the remaining stake.
Swazi Tshabalala’s presidential candidacy for the African Development Bank underscores her dedication to advancing Africa’s developmental agenda, particularly through infrastructure investment and private sector engagement. Endorsed by key political figures, she aims to continue the legacy of financial resilience and growth initiated by her predecessor. Her election will heavily depend on garnering support across the diverse stakeholder base of the AfDB.
Original Source: www.cnbcafrica.com
