BUSINESS REPORTER
The African Development Bank Group (AfDB) has appointed Bajabulile Tshabalala as Senior Vice President with effect from November 1.
The appoint was made by AfDB president Akinwumi Adesina following consultations with the board of directors, the group said in a statement Wednesday.
A South African citizen, Tshabalala Vice President of Finance and Chief Financial Officer of since joining the group in August 2018.
She was elevated to Acting Senior Vice President in March 2020, following the retirement of 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 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 led 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, Tshabalala chaired 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, the group said.
The executive brings nearly 30 years of experience in management, finance, and risk management.
She holds a Bachelor of Arts degree in Economics from Lawrence University and an MBA from Wake Forest University.
“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,” Tshabalala said.
“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”.
Adesina said described Tshabalala as 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,” Adesina said.
