Former senior vice president of the African Development Bank (AfDB), Bajabulile Swazi Tshabalala, has officially announced her candidacy for the presidency of the institution.

Her bid comes with the full support of the South African government, signalling confidence in her leadership potential and vision for the future of the continent.

Finance minister Enoch Godongwana said Tshabalala was 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," Godongwana said.

"South Africa fully supports her candidacy and believes that under her leadership, the AfDB will play an even greater role in accelerating Africa’s economic transformation and unlocking opportunities for all its people."

Tshabalala brings over three decades of experience in infrastructure finance, hybrid capital solutions, and economic development to the table. She has played a pivotal role in mobilising capital for Africa’s pressing development needs, leading the AfDB's financial response during the COVID-19 pandemic and innovating funding mechanisms now adopted globally. Her candidacy symbolises a commitment to a robust and agile AfDB that prioritises infrastructure development and economic opportunity for the continent.

Tshabalala said she had a bold vision to build a string AfDB with "innovative financing" to infrastructure challenges in the continent.

"Africa stands at a pivotal moment, and the African Development Bank must rise to meet the continent’s ambitions with bold, strategic action," she said.

"My vision is to build a financially strong, results-driven AfDB that prioritises infrastructure, expands innovative financing solutions, and strengthens partnerships to unlock Africa’s full economic potential. This is not just about investment—it’s about delivering real, lasting impact for African nations and their people."

Tshabalala first joined the AfDB in 2018, rapidly ascending to the role of senior vice president in 2021, which she held until her resignation in January 2024. Before this, she held significant leadership roles at Old Mutual Employee Benefits, Standard Bank Group, and Transnet, gaining invaluable experience in managing large-scale infrastructure projects.

Her tenure as CEO of the Industrial Development Group from 2006 to 2014 demonstrates her ability to drive investment across key sectors in Africa. For Tshabalala, this candidacy transcends the quest for leadership; it embodies a promise to realise the AfDB’s mission of transforming lives across the continent.

Infrastructure development is set to be a cornerstone of her presidency. Tshabalala emphasises that reliable infrastructure—roads, ports, railways, energy systems, and digital networks—is fundamental for sustainable economic growth. Drawing from her experience at Transnet, where she facilitated the expansion of critical logistics hubs, she understands that well-executed infrastructure initiatives can significantly boost long-term economic activity.

Her introduction of hybrid capital financing at the AfDB stands as a testament to her innovative approach. This financing mechanism enables multilateral development banks to attract private sector investments while maintaining financial stability, a method that has now found resonance with other global financial institutions. Her strategic vision includes expanding the use of such hybrid instruments to deepen the AfDB’s funding base, positioning it as a robust financier for transformative projects.

Beyond her core focus on infrastructure, Tshabalala advocates for gender equality and youth empowerment within the AfDB’s operational strategy. As a leading African woman, she is determined to ensure that policies and funding support opportunities for women entrepreneurs, young professionals, and small businesses, ensuring inclusive and sustainable growth across the continent.

The election for the next President of the African Development Bank is scheduled for 29 May 2025 during the Annual Meeting of the Board of Governors in Abidjan. As the race evolves, Tshabalala will actively engage with stakeholders throughout Africa and beyond, sharing her vision for a financially resilient and impact-driven AfDB—a critical engine for sustainable growth.

BUSINESS REPORT

#tsbabalala

Swazi Tshabalala announces candidacy for African Development Bank presidency