Finance Minister Enoch Godongwana yesterday acknowledged the resignation of Bajabulile Swazi Tshabalala from her position as Senior Vice President of the African Development Bank (AfDB), on October 1, 2024, after the South Africa Cabinet and he endorsed her bid as President of the regional development finance institution.
Tshabalala voluntarily relinquished her role, which she has held since 2020, in line with the AfDB’s rules. These require that any executive employees intending to pursue the position of the AfDB’s presidency or any other elected role in the organisation, must step down from any current role in the bank to prevent conflicts of interest, among other considerations.
In a statement, Godongwana said Tshabalala played a vital role, alongside Dr Adesina, in ensuring that the bank met and even exceeded its mandate of supporting the economic growth of the continent.
“She was there during the pandemic and contributed to the critical role that AfDB played in providing access to capital for African countries to fund the economic recovery. She was there as CFO when the Bank achieved its largest general capital increase in 2019. There is no substitute for that kind of experience,” he said.
“Tshabalala’s candidacy…also represents an opportunity for a capable female leader to take up a key African leadership position. We will be working closely with her to ensure that her campaign is a successful one.”
In August South Africa’s Cabinet formally endorsed Tshabalala as its nominee for the role of President of the AfDB. The position of President becomes vacant on August 31, 2025 when the term of Dr Akinwumi Adesina of Nigeria expires.
Tshabalala has more than 30 years of professional experience, gained over a diverse range of institutions; including State-owned companies, the private sector, and a diversity of sectors, from transport and logistics, to infrastructure, financial services and development finance, which should put her in good stead to lead the continent’s premier multilateral lender.
She said it was an honor to work under Adesina and wished him all the best for the remainder of his term as President of the AfDB.
“There is much that he has done to propel the Bank to achieve, and he can take pride in. I am certain that the rest of his term in office will produce further accolades,” Tshabalala said
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