Former Senior Vice President of the African Development Bank (AfDB), Bajabulile Swazi Tshabalala, has officially announced her candidacy for the institution’s presidency.
Her bid is backed by the South African government, reflecting strong confidence in her leadership abilities and strategic vision for Africa’s future.
Finance Minister Enoch Godongwana described Tshabalala as an outstanding leader with extensive expertise in finance, infrastructure, and economic development.
“Her vast experience within the African Development Bank and beyond makes her the ideal candidate to steer the institution toward a new era of financial resilience and impact-driven growth,” said Godongwana.
“South Africa fully supports her candidacy and believes that under her leadership, the AfDB will further accelerate Africa’s economic transformation, unlocking new opportunities for its people.”
With over 30 years of experience in infrastructure finance, hybrid capital solutions, and economic development, Tshabalala has been instrumental in mobilizing funds for Africa’s urgent development needs. She played a crucial role in shaping the AfDB’s financial response to the COVID-19 pandemic and introduced innovative funding mechanisms that have since been adopted globally.
Her candidacy represents a commitment to strengthening the AfDB as a dynamic institution that prioritizes infrastructure development and economic growth across the continent.
In a statement, Tshabalala outlined her vision for a robust AfDB with “innovative financing” solutions to address Africa’s infrastructure challenges.
“Africa is at a pivotal moment, and the African Development Bank must rise to meet the continent’s ambitions with bold, strategic action,” she said. “My goal 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 joined the AfDB in 2018 and quickly advanced to Senior Vice President in 2021, a position she held until her resignation in January 2024.
Before her tenure at the AfDB, she held key leadership roles at Old Mutual Employee Benefits, Standard Bank Group, and Transnet, where she gained valuable experience managing large-scale infrastructure projects. From 2006 to 2014, she served as CEO of the Industrial Development Group, driving significant investments across Africa’s key sectors.
For Tshabalala, this candidacy is more than a leadership pursuit—it is a pledge to fulfill the AfDB’s mission of transforming lives across the continent.
Infrastructure development is expected to be a central pillar of her presidency. She emphasized that reliable infrastructure—including roads, ports, railways, energy systems, and digital networks—is essential for sustainable economic growth.
Drawing from her experience at Transnet, where she facilitated the expansion of critical logistics hubs, Tshabalala understands the long-term economic benefits of well-executed infrastructure projects.
Her introduction of hybrid capital financing at the AfDB reflects her innovative mindset. This mechanism enables multilateral development banks to attract private sector investment while maintaining financial stability, an approach that has since gained traction among global financial institutions. She plans to further expand such hybrid instruments to strengthen the AfDB’s funding base and position it as a leading financier for transformative projects.
Beyond infrastructure, Tshabalala is a strong advocate for gender equality and youth empowerment, ensuring that AfDB policies and funding initiatives support women entrepreneurs, young professionals, and small businesses. She remains committed to fostering inclusive and sustainable growth across Africa.The election for the next AfDB president is set for May 29, 2025, during the Annual Meeting of the Board of Governors in Abidjan. In the lead-up to the election, Tshabalala will actively engage with stakeholders across Africa and beyond, presenting her vision for a financially resilient and impact-driven AfDB that serves as a key driver of sustainable development.
