Distinguished financial strategist and former Senior Vice President of the African Development Bank (AfDB), Bajabulile Swazi Tshabalala, has officially declared her candidacy for the Bank’s presidency.
She has received full endorsement and support from the South African government.
“Swazi Tshabalala is an exceptional leader with a proven finance, infrastructure, and economic development track record.
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 more significant role in accelerating Africa’s economic transformation and unlocking opportunities for all its people.” said Enoch Godongwana, South Africa’s Finance Minister.
With a career spanning over three decades in infrastructure finance, hybrid capital solutions, and economic development, she brings a bold vision for an AfDB that is financially robust, results-driven, and focused on transformative growth.
Swazi has played a pivotal role in mobilising capital for Africa’s most pressing development needs, from leading the Bank’s financial response to the COVID-19 pandemic to pioneering innovative funding mechanisms that global financial institutions have since adopted.
Her candidacy represents a commitment to a stronger, more agile AfDB that prioritises 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.
My vision is to build a financially strong, results-driven AfDB that prioritises infrastructure, expands innovative financing solutions, and strengthens partnerships to unlock Africa’s full economic potential.
This is not just about investment—delivering real, lasting impact for African nations and their people.” She said.
Swazi joined the AfDB in 2018 and was appointed Senior Vice President in 2021, a position she held until her resignation in 2024 to pursue the presidency.
Before her tenure at the Bank, she held leadership roles at Old Mutual Employee Benefits, Standard Bank Group, and Transnet Limited, where she gained firsthand experience in managing large infrastructure projects. From 2006 to 2014, she served as the CEO of the Industrial Development Group (IDG), driving investment in key sectors across Africa.
She holds a BA in Economics from Lawrence University and a Master’s in Business Administration from Wake Forest University. Recognised for her strategic contributions, the AfDB’s President and Chair of the Boards of Directors commended her for advancing the Bank’s mission and financial sustainability. Her passion for Africa’s development is deeply personal.
As a teenager in apartheid-era South Africa, Swazi dreamt of studying in Côte d’Ivoire, captivated by its culture and beautiful landscape. That dream took an unexpected turn when she later worked in Abidjan at the African Development Bank, shaping economic policies that would impact the entire continent.
Her journey from an ambitious student fascinated by Africa’s potential to a senior leader at the continent’s most important financial institution underscores her lifelong dedication to driving sustainable development.
As she steps forward in her candidacy, she envisions a more efficient, impact-driven AfDB that delivers real transformation through strategic financing, infrastructure development, and strong partnerships with African nations. Infrastructure development will be a core focus of Swazi’s leadership at the AfDB, as she believes it is the foundation of sustainable economic growth.
Africa cannot fully unlock its trade potential, industrial capacity, or job creation opportunities without reliable roads, ports, rail networks, energy systems, and digital infrastructure.
Swazi’s experience at Transnet, where she oversaw the expansion of key logistics and transport hubs, has given her a deep understanding of how well-executed infrastructure projects drive long-term economic activity. She emphasises the need for strategic investments in projects that connect markets, reduce trade barriers, and support industrialisation. Under her leadership, the AfDB will prioritise infrastructure projects that are bankable, sustainable, and aligned with national and regional development strategies, ensuring that investments lead to tangible economic and social benefits for African citizens.
One of Swazi’s key achievements has been the introduction of hybrid capital financing at AfDB. This innovative mechanism allows multilateral development banks to attract private sector investment while maintaining financial stability. This groundbreaking approach has since been adopted by other global financial institutions, reinforcing its effectiveness in unlocking new sources of development capital.
Under her leadership, 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. Swazi’s extensive career in both the public and private sectors has given her firsthand experience in the realities of African development.
She understands that infrastructure is not just about building roads and power stations but about creating economic ecosystems where businesses can thrive, trade can flow, and communities can prosper.
She has also worked closely with governments across the continent to navigate complex regulatory environments, develop sustainable financing models, and strengthen public debt management. Beyond infrastructure and financing, Swazi is a passionate advocate for gender equality and youth empowerment.
As an African woman in leadership, she recognises the importance of ensuring that AfDB’s policies and funding decisions create opportunities for women entrepreneurs, young professionals, and small businesses. She is committed to embedding these priorities into the Bank’s operational strategy, ensuring that economic growth is inclusive and sustainable.
The election for the next President of the African Development Bank will take place on 29 May 2025 during the Annual Meeting of the Board of Governors in Abidjan, Côte d’Ivoire.
The election process, which began with the submission of candidates in July 2024, will culminate in a series of evaluations and discussions leading up to the vote. As the campaign unfolds, Swazi will continue to engage with stakeholders across Africa and beyond, articulating her vision for a financially resilient, impact-driven AfDB that truly serves as an engine of sustainable growth for the continent.
For Swazi, this candidacy is not just about a leadership role but about ensuring that the African Development Bank delivers on its mission to transform lives. With a proven track record of delivery, financial acumen, and an unshakable passion for Africa’s future, she stands ready to lead the Bank into its next era of impact-driven growth.
