Swazi Tshabalala announces her candidacy for the African Development Bank presidency, aiming to improve infrastructure and engage the private sector. South African Finance Minister Enoch Godongwana supports her due to her extensive experience. The election will replace Akinwumi Adesina, with emphasis on strategic actions for Africa’s growth. Tshabalala has a strong background in finance and leadership roles, seeking to develop financially resilient solutions for the continent.
Swazi Tshabalala, former Senior Vice President of the African Development Bank (AfDB), has announced her candidacy for the bank’s presidency in the upcoming election set for May. Tshabalala, who is South African and the sole female candidate among five contenders, aims to prioritize infrastructure development and enhance the private sector’s role in Africa’s growth. Her competitors include candidates from Zambia, Senegal, Mauritania, and Chad.
Endorsed by South Africa’s Finance Minister Enoch Godongwana, Tshabalala is recognized for her exemplary leadership in finance and economic development. Godongwana stated that her extensive experience in various sectors makes her the suitable candidate to steer the AfDB towards a new era focused on financial resilience and impactful growth.
The AfDB presidency election will occur on May 29, succeeding current President Akinwumi Adesina, who is completing his decade-long tenure. Under Adesina’s leadership, the AfDB significantly promoted Africa’s agricultural investment opportunities and recently initiated an ambitious $8 billion campaign to provide power access to 300 million inhabitants across the continent.
Tshabalala joined the AfDB in 2018 and advanced to Senior Vice President in 2021. Her previous roles include leadership positions at Old Mutual Employee Benefits and Standard Bank Group, as well as serving as CEO of the Industrial Development Group from 2006 to 2014. She emphasizes the need for the AfDB to undertake bold, strategic actions to address Africa’s current challenges and ambitions.
In her vision for the AfDB, Tshabalala seeks to establish a financially robust, results-oriented institution that focuses on infrastructure, innovative financing solutions, and partnerships aimed at realizing Africa’s economic potential. To secure the presidency, a candidate must achieve a majority vote from both African and non-African shareholders of the bank.
The candidacy of Swazi Tshabalala for the presidency of the African Development Bank underscores a commitment to advancing infrastructure and private sector empowerment in Africa. With significant backing and a strong resume, Tshabalala is positioned to influence the future direction of the AfDB as it transitions to new leadership in May. Her vision could play a crucial role in addressing the continent’s pressing economic needs.
Original Source: www.cnbcafrica.com
