Bajabulile Swazi Tshabalala, a financial strategist and former Senior Vice President of the African Development Bank (AfDB), has announced her candidacy for the Bank’s presidency. Her bid has received the full endorsement and support of the South African government.
South Africa’s Minister of Finance, Mr. Enoch Godongwana, said in a statement that Tshabalala is an exceptional leader with a proven track record in finance, infrastructure, and economic development.
“Swazi Tshabalala is an exceptional leader with a proven track record in finance, infrastructure, and economic development,” Godongwana said. “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. 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. She envisions an AfDB that is financially robust, results-driven, and focused on transformative growth. She played a key role in mobilizing capital for Africa’s development needs, from leading the Bank’s financial response to the COVID-19 pandemic to pioneering innovative funding mechanisms.
According to a press release from her campaign, her candidacy represents a commitment to a stronger, more agile AfDB that prioritizes infrastructure, drives private sector investment, and ensures that Africa’s development is built on a foundation of financial sustainability and economic opportunity.
“Africa stands at a pivotal moment, and the African Development Bank must rise to meet the continent’s ambitions with bold, strategic action,” Tshabalala said. “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. 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 and was appointed Senior Vice President in 2021, a position she held until resigning in 2024 to pursue the presidency. Before joining the Bank, she held leadership roles at Old Mutual Employee Benefits, Standard Bank Group, and Transnet Limited, gaining experience in managing large-scale infrastructure projects. From 2006 to 2014, she served as CEO of the Industrial Development Group (IDG), driving investment in key sectors across Africa.
She holds a Bachelor of Arts degree in Economics from Lawrence University and a Master of Business Administration degree from Wake Forest University. The AfDB’s President and Chair of the Boards of Directors commended her for her leadership in advancing the Bank’s mission and financial sustainability.
Tshabalala’s leadership vision
Tshabalala’s commitment to Africa’s development is rooted in her personal history. She recalls dreaming of studying in Côte d’Ivoire as a teenager in apartheid-era South Africa. That aspiration evolved into working in Abidjan at the African Development Bank, shaping economic policies impacting the continent.
Infrastructure development will be a core focus of Tshabalala’s leadership at the AfDB. She believes it is the foundation of sustainable economic growth. She emphasizes the need for strategic investments in projects that connect markets, reduce trade barriers, and support industrialization. Under her leadership, the AfDB will prioritize infrastructure projects that are bankable, sustainable, and aligned with national and regional development strategies.
One of Tshabalala’s key achievements has been the introduction of hybrid capital financing at AfDB, which allows multilateral development banks to attract private sector investment while maintaining financial stability. She aims to expand the use of hybrid instruments to diversify AfDB’s funding base, ensuring that the Bank remains financially strong while increasing its ability to finance transformative projects.
Tshabalala’s experience in both the public and private sectors has provided her with firsthand experience in the realities of African development. She has also worked closely with governments across the continent to navigate regulatory environments, develop sustainable financing models, and strengthen public debt management.
Beyond infrastructure and financing, Tshabalala is an advocate for gender equality and youth empowerment. She is committed to embedding these priorities into the Bank’s operational strategy.
The election for the next President of the African Development Bank will take place May 29, 2025, during the Annual Meeting of the Board of Governors in Abidjan, Côte d’Ivoire. The election process began with the submission of candidates in July 2024. As the campaign progresses, Tshabalala will continue to engage with stakeholders across Africa and beyond.
