The African Development Bank Group (AfDB) has announced the appointment of Bajabulile “Swazi’’ Tshabalala as the substantive senior Vice-President.
The statement read: “Following consultations with the Board of Directors, the President of the African Development Bank Group, Dr. Akinwumi A. Adesina is pleased to announce the appointment of Ms. Bajabulile “Swazi’’ Tshabalala as Senior Vice President of the African Development Bank Group, effective from 1 November 2021.
“Ms. Tshabalala, a citizen of South Africa, has been Vice President of Finance and Chief Financial Officer of the African Development Bank Group 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, Mr. Charles Boamah.
Over the past three years, Swazi has served in several key leadership roles at the Bank, including as co-Chair of the Steering Committee which worked bank-wide with the President for the successful 15th Replenishment of the African Development Fund (ADF 15) and the African Development Bank’s historic 7th General Capital Increase.
As Vice President and Chief Financial Officer, she is leading senior leadership and bank-wide efforts to develop a Long-Term Financial Sustainability Framework for the Bank.
In her capacity as Vice President for Finance, Swazi chairs the Asset and Liability Committee of the Bank. As Acting Senior Vice President, she has taken on increased responsibilities, including oversight over some of the leadership organs of the Bank, including the Senior Management Co-ordinating Committee and the Operations Committee that guide the Bank’s overall operations and effectiveness.
She worked closely with the President to oversee the Bank’s prudential ratios and financial management to assure the maintenance of the Bank’s AAA credit ratings by global credit rating agencies.
Ms. Tshabalala brings nearly 30 years of experience in management, finance, and risk management. Prior to joining the Bank, she garnered extensive managerial and leadership experience in the private sector.
She was the Chief Executive Officer of a private financial and engineering consulting firm, Barbican Advisory Group from 2013 to 2018. Prior to that, she was CEO of the investment company, IDG Group from 2006 to 2012.
She joined the giant conglomerate, Transnet SOC, in 1996, as Deputy Treasury Manager (Funding) until 1998, when she was appointed Treasury Manager for Funding (1998-2001).
From 2001 to 2004, she was General Manager, Corporate Services where she 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.
She was subsequently appointed as Group Treasurer for the Transnet SOC, South Africa. Swazi joined the African Development Bank in 2018 as Vice President for Finance and the Bank Group’s Chief Financial Officer.
Swazi graduated with a Bachelor of Arts degree in Economics from Lawrence University, USA in 1989, and holds a Master’s degree in Business Administration from Wake Forest University, USA, obtained in 1992.
Ms. Tshabalala said on her appointment “I am greatly honored to have been appointed into this senior leadership role by President Adesina. The staff of the Bank and I are excited about his vision for the Bank and Africa. The remarkable advancements, the global standing and reputation the Bank has attained in the past few years have been impressive.
“I look forward to working closely with the President and with the senior Management, staff and the Board of Directors in delivering on the President’s vision to build a One-Bank, with strong teamwork, reinforcing the financial strength of the Bank, and helping to drive increased efficiencies, effectiveness and impact across all our work and operations”.
Commenting on the appointment, President Adesina said “I am delighted to appoint Swazi as Senior Vice President. She 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. Over the years she has shown commendable leadership in managing the Bank’s financial capabilities. 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”.