The headquarters of the African Development Bank (AfDB) are pictured in Abidjan. File photo.
The headquarters of the African Development Bank (AfDB) are pictured in Abidjan. File photo.

Development Bank appoints Bajabulile ’Swazi’ Tshabalala as senior vice president

By Siphelele Dludla Time of article published Oct 13, 2021

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South African-born bank executive Bajabulile “Swazi” Tshabalala has been permanently appointed as the senior vice president of the African Development Bank Group (AfDB) after acting in the position since March 2020.

The AfDB, headquartered in Abidjan, Côte d’Ivoire, announced today that the appointment is effective from 1 November 2021.

Tshabalala has been vice president of finance and chief financial officer of the AfDB since joining the bank group in August 2018.

She was appointed by President Adesina as acting senior vice president in March 2020, following the retirement of the incumbent, Charles Boamah.

Over the past three years, Tshabalala has served in several key leadership roles at the bank, including as co-chair of the steering committee which worked for the successful 15th replenishment of the African Development Fund (ADF 15) and the AfDB’s historic 7th General Capital Increase.

In her capacity as vice president for finance, Tshabalala chairs the asset and liability committee of the bank.

Tshabalala brings nearly 30 years of experience in management, finance, and risk management.

Prior to joining the AfDB, she garnered extensive managerial and leadership experience in the private sector, holding roles as CEO of a private financial and engineering consulting firm, Barbican Advisory Group and an investment company, IDG Group.

Tshabalala was also a deputy treasury manager at Transnet.

She also oversaw the transformation of the old Portnet into the new Transnet National Ports Authority, mandated to control and manage all eight commercial ports in South Africa as Transnet’s general manager for corporate services.

Tshabalala holds a Bachelor of Arts degree in Economics from Lawrence University, US (1989), and a Master’s degree in Business Administration from Wake Forest University, US, obtained in 1992.

Tshabalala said she was greatly honoured to have been appointed into this senior leadership role by President Akinwumi Adesina.

“The staff of the Bank and I are excited about his vision for the Bank and Africa,” she said.

“The remarkable advancements, the global standing and reputation the Bank has attained in the past few years have been impressive.”

Adesina said Tshabalala has been a highly valuable member of the Bank’s senior management team.

“She brings strong management skills, ability to get results and adeptness in overseeing the Bank’s financial assets and portfolios,” Adesina said.

“In her new substantive role as Senior Vice President, she will give even greater drive to our collective efforts to boost the operational and financial strengths of the African Development Bank Group.”

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