BUSINESS REPORTER
The African Development Bank (AfDB) has appointed Bajabulile Tshabalala as acting Senior Vice President barely two years after joining the bank.
She fills the void left by Charles Boamah who retired as the bank’s Senior Vice President. Boamah had been with the institution for 23 years.
Currently Vice President for Finance and Chief Finance Officer for the group, Tshabalala joined the group in August 2018.
AfDB President Akinwumi Adesina said Tshabalala has demonstrated “highly commendable senior leadership management qualities and brings a strong perspective on results orientation and delivery that will be important as the bank moves ahead with the delivery of its programmes and commitments”.
“I am very pleased to appoint her to step up into this role as Acting Senior Vice President, as the Bank manages this senior leadership transition, to ensure stability and continuity of our work and operations. I am confident she will do very well. She will continue to hold simultaneously her position as Vice President for Finance and Chief Finance Officer in this interim period”.
AfDB, in which Zimbabwe is a shareholder, has been undergoing transformation since Adesina took over the reins in 2015. His term ends in May and is due for re-election amid indications he would be retained after the Executive Council of the African Union, early this month supported Adesina’s candidacy for a second term.
The former Nigeria Agriculture and Rural Development minister is the eighth president of the bank. In his first term, AfDB’s shareholders approved a landmark US$115bn capital increase in October to US$208bn, signalling strong support from the Board of Governors in the continent’s financial institution.
AfDB has been supporting Zimbabwe with various initiatives. The Southern African nation will benefit from a €1.2m grant to train policymakers and help resource-rich countries such as Zimbabwe improve their mining revenue.
Last month, AfDB said the US$33m Bulawayo Water and Sewerage Services Improvement Project is on course to rehabilitate and upgrade water production treatment facilities, water distribution, sewer drainage networks and wastewater treatment disposal facilities in the southwestern part of the city. The project is expected to be completed by the third quarter of 2020.
