Ramaphosa endorses Swazi Tshabalala's bid for African Development Bank presidency

President Cyril Ramaphosa has officially endorsed Swazi Tshabalala as the candidate for President of the African Development Bank (AfDB).

Tshabalala, a former senior vice president of the AfDB, officially announced her candidacy for the presidency of the institution in February. 

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

“It is with great pride and confidence that I announce South Africa's endorsement of Ms Bajabulile Swazi Tshabalala for the position of President of the African Development Bank Group,” Ramaphosa said in a short statement on Tuesday. 

“Ms Tshabalala is a leader of exceptional calibre, a visionary whose life's work has been dedicated to the advancement of our beloved continent.”

Ramaphosa added that Tshabalala has consistently demonstrated her expertise, her leadership and unwavering commitment to Africa's development over three decades of working in the financial, logistics and infrastructure sectors.

He said that her tenure as senior vice president of the AfDB had been marked by transformative initiatives that have uplifted communities, empowered women and also driven sustainable economic growth across the continent. 

“As a nation, South Africa is proud to put forward a candidate who embodies the values of integrity, excellence and service. Ms Chabalala's leadership is not just about managing resources, it is also about transforming lives,” he said.

“She understands that the African Development Bank is more than a financial institution, it is a vehicle for hope, it is a catalyst for change and a partner in progress for every African nation. 

“In all leadership positions that she has held, Ms Tshabalala has demonstrated the resilience and the determination of Africa's women. As our continent enters a new era of growth and progress, the African Development Bank needs a leader like Bajabulile Swazi Tshabalala and that is why we are endorsing her.”

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

In February, she said she had a bold vision to build a strong AfDB with "innovative financing" to infrastructure challenges in the continent as infrastructure development is set to be a cornerstone of her presidency. 

Tshabalala emphasised that reliable infrastructure—roads, ports, railways, energy systems, and digital networks—was fundamental for sustainable economic growth. 

"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."

If elected, Tshabalala will succeed Dr. Akinwumi Adesina who will step down in September after serving two five-year terms. 

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.

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