Bajabulile Swazi Tshabalala, former Senior Vice President of the African Development Bank (AfDB), has officially declared her candidacy for the presidency of the institution, with the full backing of the South African government.
South Africa’s Minister of Finance, Enoch Godongwana, expressed strong confidence in Tshabalala’s leadership capabilities, citing her extensive experience in finance, infrastructure, and economic development as key assets in steering the AfDB into a new era.
“Her track record at the African Development Bank and beyond makes her an exceptional candidate to lead the institution towards greater financial resilience and impact-driven growth,” Godongwana stated. “South Africa fully supports her candidacy, believing 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.”
With over 30 years of experience in infrastructure finance, hybrid capital solutions, and economic development, Tshabalala has been instrumental in mobilizing capital for Africa’s most pressing needs. She played a key role in leading the AfDB’s financial response during the COVID-19 pandemic and pioneering innovative funding mechanisms that have since been adopted globally.
In a statement announcing her candidacy, Tshabalala emphasized her commitment to strengthening the AfDB’s financial capacity and expanding innovative financing solutions to address Africa’s infrastructure challenges.
“Africa stands at a pivotal moment, and the African Development Bank must meet the continent’s ambitions with bold, strategic action,” she asserted. “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’s extensive career spans leadership roles across major financial and infrastructure institutions. She joined the AfDB in 2018, rising rapidly to the position of Senior Vice President in 2021, which she held until her resignation in January 2024. Prior to her tenure at the AfDB, she held executive roles at Old Mutual Employee Benefits, Standard Bank Group, and Transnet, where she gained invaluable experience in managing large-scale infrastructure projects.
As CEO of the Industrial Development Group from 2006 to 2014, she successfully spearheaded investment initiatives across key sectors, further cementing her reputation as a transformative leader in African finance.
Her candidacy, she stated, is not merely about leadership but about fulfilling the AfDB’s mission to drive sustainable development across Africa. A core pillar of her presidency, if elected, will be infrastructure development—which she sees as fundamental to economic growth, job creation, and regional integration.
“Reliable infrastructure—roads, ports, railways, energy systems, and digital networks—serves as the backbone of any thriving economy,” Tshabalala emphasized. Drawing from her experience at Transnet, where she facilitated the expansion of critical logistics hubs, she understands the transformative power of well-executed infrastructure projects in driving long-term economic activity.
A hallmark of Tshabalala’s leadership at the AfDB was the introduction of hybrid capital financing, an innovative mechanism that enables multilateral development banks to attract private sector investments while maintaining financial stability. This financing model has since gained traction among global financial institutions, demonstrating its effectiveness in expanding funding bases for large-scale projects.
Her strategic vision for the AfDB includes further scaling the use of hybrid financial instruments to enhance the institution’s lending capacity, positioning it as a leading financier for transformative projects across Africa.
Beyond infrastructure, Tshabalala is also a strong advocate for gender equality and youth empowerment in the AfDB’s operational strategy. As a leading African woman in finance, she is committed to ensuring that policy frameworks and funding mechanisms actively support women entrepreneurs, young professionals, and small businesses, fostering inclusive and sustainable economic growth.
The election for the next President of the African Development Bank is scheduled for May 29, 2025, during the Annual Meeting of the Board of Governors in Abidjan, Côte d’Ivoire. In the coming months, Tshabalala is expected to actively engage with stakeholders across Africa and beyond, articulating her vision for a financially resilient, impact-driven AfDB that will serve as a catalyst for sustainable growth and economic transformation across the continent.
