logo
South Africa's Tshabalala is running in line up for Africa's next 'super banker'

South Africa's Tshabalala is running in line up for Africa's next 'super banker'

IOL News29-05-2025
Bajabulile Tshabalala
Image: Social Media
Five candidates are in the running to succeed Nigeria's Akinwumi Adesina as president of the African Development Bank (AfDB).
They are:
Bajabulile Swazi Tshabalala (South Africa)
The AfDB has only ever been headed by men but Tshabalala aims to change that.
The 58-year-old South African was until the end of last year a vice president at the bank and could emerge as a continuity candidate.
"Africa is at an inflection point. It's time for bold leadership that turns vision into action. I'm ready to lead the AfDB towards a more integrated, resilient, and prosperous continent," she said last month.
Tshabalala wants to accelerate infrastructure development, boost private sector growth and make the AfDB more efficient.
She argues that the bank must look beyond public funding to "smart finance".
South Africa backs her candidacy but southern African unity could be split, as it had previously rallied behind Zambia's Maimbo.
Amadou Hott (Senegal)
Hott was Senegal's economy minister from 2019 to 2022 under the presidency of Macky Sall and until September last year was Adesina's special envoy for green infrastructure in Africa.
But he is not necessarily a natural successor, as the position usually goes to a candidate from another region and the candidacy of Mauritania's Sidi Ould Tah will split the west African vote.
In his pitch for the leadership, Hott, 52, has called for "a more inclusive, integrated and resilient Africa", positioning himself in particular as a supporter of AfCFTA, the African Continental Free Trade Area.
He is also in favour of deepening relations with the private sector.
Hott also wants to quicken the pace of investment in sustainable energy infrastructure using Africa's vast renewable resources.
Samuel Munzele Maimbo (Zambia)
Maimbo, 52, was most recently vice president for budget, performance review and strategic planning at the World Bank.
He has also been chief of staff to World Bank presidents David Malpass and Ajay Banga.
He will also have to contend with a split regional vote during the election, as South Africa -- one of the biggest AfDB's contributors -- is also fielding a candidate.
But his experience at the World Bank could help him secure US support, which carries weight in the vote.
Maimbo, who highlights 30 years of experience in development and finance, wants the AfDB to play "a leadership role" in supporting the many countries strangled by debt.
Having grown up on a farm on the outskirts of Lusaka, he emphasises the importance of agricultural mechanisation and the development of the agro-industry.
"Africa needs significantly higher rates of growth to successfully navigate today's development challenges and capture tomorrow's opportunities," he said in his mission statement.
Sidi Ould Tah (Mauritania)
Tah, who has headed the Arab Bank for Economic Development (BADEA) for 10 years, was the last candidate to declare.
Several north African Arab states are members of the AfDB and if elected, his experience at BADEA could be a bridge with sub-Saharan Africa.
He said in his mission statement that he had transformed BADEA into "one of the best capitalised and most highly-rated DFIs" (development finance institutions).
He has vowed to strengthen regional financial institutions, assert Africa's financial independence on global markets, use population growth as a development lever and build climate change-resistent infrastructure.
Tah, 60, is a former economy minister in Mauritania.
Abbas Mahamat Tolli (Chad)
Central Africa has never had a president of the AfDB but Tolli, a 53-year-old Chadian, could be its first.
The former governor of the Bank of Central African States has served as a finance and infrastructure minister and is also proposing a transformative vision.
He wants to achieve food sovereignty through sustainable agricultural investments, speed up financing for essential infrastructure, improve governance, promote renewable energies, and develop domestic financial markets.
Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

ANC NEC meeting to discuss US tariffs 'will not resolve Trump's beef with the party'
ANC NEC meeting to discuss US tariffs 'will not resolve Trump's beef with the party'

IOL News

time42 minutes ago

  • IOL News

ANC NEC meeting to discuss US tariffs 'will not resolve Trump's beef with the party'

Political analysts say the ANC National Executive Committee is wasting its time in discussing the US 30% tariff imposed on South Africa's exports. Image: File Picture Political analysts warn that the ANC is unlikely to resolve its differences with the US over the impending 30% tariff on South African exports, as the party held its National Executive Committee (NEC) meeting in Johannesburg at the weekend. The tariff is expected to take effect on August 7, as announced by the Trump administration on Thursday. South Africa is the only country from sub-Saharan Africa singled out in the announcement, reflecting the US's strained relationship with Pretoria. Other African nations, including Lesotho and Zimbabwe, have been hit with a 15% tariff, which will also come into effect in seven days. The decision is a huge blow to South Africa, as the US is its second-biggest trading partner and comes despite trying to agree a trade deal with the US, which included buying US liquefied natural gas, simplifying rules for poultry imports and investing in US industries like mining. Video Player is loading. Play Video Play Unmute Current Time 0:00 / Duration -:- Loaded : 0% Stream Type LIVE Seek to live, currently behind live LIVE Remaining Time - 0:00 This is a modal window. Beginning of dialog window. Escape will cancel and close the window. Text Color White Black Red Green Blue Yellow Magenta Cyan Transparency Opaque Semi-Transparent Background Color Black White Red Green Blue Yellow Magenta Cyan Transparency Opaque Semi-Transparent Transparent Window Color Black White Red Green Blue Yellow Magenta Cyan Transparency Transparent Semi-Transparent Opaque Font Size 50% 75% 100% 125% 150% 175% 200% 300% 400% Text Edge Style None Raised Depressed Uniform Dropshadow Font Family Proportional Sans-Serif Monospace Sans-Serif Proportional Serif Monospace Serif Casual Script Small Caps Reset restore all settings to the default values Done Close Modal Dialog End of dialog window. Advertisement Video Player is loading. Play Video Play Unmute Current Time 0:00 / Duration -:- Loaded : 0% Stream Type LIVE Seek to live, currently behind live LIVE Remaining Time - 0:00 This is a modal window. Beginning of dialog window. Escape will cancel and close the window. Text Color White Black Red Green Blue Yellow Magenta Cyan Transparency Opaque Semi-Transparent Background Color Black White Red Green Blue Yellow Magenta Cyan Transparency Opaque Semi-Transparent Transparent Window Color Black White Red Green Blue Yellow Magenta Cyan Transparency Transparent Semi-Transparent Opaque Font Size 50% 75% 100% 125% 150% 175% 200% 300% 400% Text Edge Style None Raised Depressed Uniform Dropshadow Font Family Proportional Sans-Serif Monospace Sans-Serif Proportional Serif Monospace Serif Casual Script Small Caps Reset restore all settings to the default values Done Close Modal Dialog End of dialog window. Next Stay Close ✕ On Saturday, ANC NEC member Dr Kgosientsho Ramokgopa told journalists that there had been a focused discussion on the US tariffs, describing it as 'spirited and robust'. Ramokgopa said the negotiations between South Africa and the US were ongoing, adding that both countries would be able to find each other. However, political analyst Zakhele Ndlovu said although the NEC was expected to talk about the issue, there is not much that the ANC can do. He said Trump was not happy with many things including domestic and foreign policies. 'The ANC needs to figure out how to deal with generally hostile Republican administrations, and the Trump administration, in particular. Trump's beef with the ANC centres around domestic and foreign policies. On the domestic front, Trump is unhappy with the Expropriation bill, BEE and Diversity, Equity and Inclusion (DEI). "On foreign policy, Trump is bitter about the decision to take Israel to the ICJ (International Court of Justice),'' Ndlovu said, adding that the time has come for the ANC to stop confusing its interests as the country's interests. 'I don't see the ANC coming up with any solution here. It is caught between a rock and a hard place,'' he said. US-South Africa relations have hit rock-bottom since Trump took office in January. The US President stopped all aid to South Africa, accusing it of discriminating against its white minority. South Africa has repeatedly denied this. Ramaphosa held talks with Trump in May in a bid to mend relations but this failed to make any headway. In July, the US House Foreign Affairs Committee passed a bill to review the US-South Africa relations due to objections over its foreign policy and potentially imposing sanctions on senior ANC leaders. The bill accuses the ANC of undermining US interests by maintaining close relationships with Russia and China, which are among its allies and trading partners. It also accuses South Africa of backing Palestinian militant group Hamas in its conflict in Gaza with Israel- an accusation South Africa has denied. Last week, Trump indicated he did not plan to attend the G20 summit taking place later this year in Johannesburg. Another political analyst, Ntsikelelo Breakfast, said the ANC is wasting time discussing the tariff imposed by the US, adding that there is nothing the party can do to avoid the situation. 'There is no way out here. The European Union (EU) signed for 15% this week, and who are we if the EU can give in. I thought we were able to convince Trump and his administration after the meeting in May but clearly Trump did not buy it and now there is legislation to sanction ANC leaders, said Breakfast, adding that this means Trump has taken a hard stance towards South Africa and the ANC. Breakfast said that Trump's threat to skip the G20 summit also cemented his position about South Africa, saying 'this is a smack in the face'. Political analyst Professor Sipho Seepe said the US's quarrel with South Africa goes beyond the alleged white genocide and that an appreciation of the basis of the quarrel would help in the crafting of an appropriate response. 'No amount of public relations exercise or photo opportunities that Ramaphosa loves so much will resolve South Africa's varied problems,' he said.

Critique of South Africa's economic policies: A call for change
Critique of South Africa's economic policies: A call for change

IOL News

time2 hours ago

  • IOL News

Critique of South Africa's economic policies: A call for change

Professor Sandile Swana, Principal Consultant at the Centre for Strategic Leadership, has condemned governmental policies as "anti-Black", asserting that these strategies are exacerbating the country's existing economic crisis rather than alleviating it. Image: Bloomberg In critiquing South Africa's economic landscape, Professor Sandile Swana, Principal Consultant at the Centre for Strategic Leadership, has condemned governmental policies as "anti-Black", asserting that these strategies were exacerbating the country's existing economic crisis rather than alleviating it. Swana highlighted the systemic challenges facing Black South Africans, particularly in light of the alarming rate of unemployment ravaging especially the African and 'Coloured' communities. 'The South African eco-system is anti-Black,' he stated, arguing that the macroeconomic policies of the elected government and the Government of National Unity (GNU) have perpetuated conditions ripe for despair. Swana's remarks underlined a broader societal malaise. 'Black men are being emasculated and incarcerated, and our youth are in a perpetual drug-induced stupor,' he said in calling for a radical re-examination of the support structures available for young Black men. He lamented the absence of role models akin to the revered figures of the past like Steve Biko and Oliver Tambo. 'We need to produce them,' he insisted. Video Player is loading. Play Video Play Unmute Current Time 0:00 / Duration -:- Loaded : 0% Stream Type LIVE Seek to live, currently behind live LIVE Remaining Time - 0:00 This is a modal window. Beginning of dialog window. Escape will cancel and close the window. Text Color White Black Red Green Blue Yellow Magenta Cyan Transparency Opaque Semi-Transparent Background Color Black White Red Green Blue Yellow Magenta Cyan Transparency Opaque Semi-Transparent Transparent Window Color Black White Red Green Blue Yellow Magenta Cyan Transparency Transparent Semi-Transparent Opaque Font Size 50% 75% 100% 125% 150% 175% 200% 300% 400% Text Edge Style None Raised Depressed Uniform Dropshadow Font Family Proportional Sans-Serif Monospace Sans-Serif Proportional Serif Monospace Serif Casual Script Small Caps Reset restore all settings to the default values Done Close Modal Dialog End of dialog window. Advertisement Next Stay Close ✕ Ad loading Swana also proposed that a Black Peoples Convention might be necessary to address crucial issues surrounding wealth creation, productivity, morality, and heritage. 'We cannot outsource that to anyone else,' he firmly stated, advocating for a community-led approach to long-term viability and cultural integrity. Labour expert Michael Bagraim echoed similar sentiments, highlighting that South Africa has faced over three decades of diminishing returns in employment figures. 'Current policies are failing citizens miserably,' Bagraim asserted, pinpointing the last fifteen years as particularly detrimental, with many industries on the verge of collapse. Bagraim pushed for a fundamental rethink of these policies, proposing that a collaborative dialogue between government and business could reshape the current labour landscape. Drawing attention to the National Economic Development and Labour Council (Nedlac), he emphasised its capabilities in fostering discussions aimed at restructuring the labour legal framework: 'We already have a body that is set up especially for dialogue.' Pointing out the changing dynamics of the economic system, Bagraim also noted that proposed amendments to the Labour Relations Act and Basic Conditions of Employment Act could be pivotal for addressing regulatory burdens. 'We need to de-regulate the small business environment,' he said, arguing that job creation was heavily reliant on the burgeoning small business sector. As calls for deregulation and reduced government oversight intensify, Bagraim's conclusion stands stark: pursuing alternative community dialogues may merely waste time and resources, rather than bring tangible change. DAILY NEWS

Minister of Electricity admits current tariff system is unsustainable
Minister of Electricity admits current tariff system is unsustainable

IOL News

time3 hours ago

  • IOL News

Minister of Electricity admits current tariff system is unsustainable

Electricity and Energy Minister Kgosientsho Ramokgopa highlighted the detrimental effects of the rising electricity costs during a recent public address. Image: File The Minister of Electricity, Dr Kgosientsho Ramokgopa, has conceded that the price of electricity is not sustainable and has ordered a review of the electricity tariffs. This comes as scores of electricity payers protested over soaring prices in Tembisa and elsewhere, while City Power has extended the registration of poor households for exemption. Ahead of the ANC NEC meeting at various venues in Gauteng, Ramokgopa revealed that South Africa is on the brink of 'energy poverty' as the current cost of electricity is unsustainable, adding that South Africans can expect big changes to prices in the coming months. "Electricity is unaffordable. We cannot continue along this tariff path. We are getting into a situation here in the country with new dimensions of energy poverty. There are households there, as I speak to you, that will not be able to afford the cost of households are being forced to make choices between a loaf of bread and buying prepaid electricity units," he stated. Energy expert, Professor Vally Padayachee, reflecting on the soaring prices of electricity, indicated that the rising cost of electricity is concerning as it impacts not only household budgets but also the overall economy. "Increases of over approximately 600% in recent years are unsustainable and disproportionate to many citizens' income levels. Electricity, a public good, should arguably be like water, a fundamental right, accessible and affordable for all South Africans. "For the average South African household, rising electricity costs have become a serious financial concern. Many families find themselves allocating a growing portion of their income to energy bills, which can lead to difficult choices between essential services such as food, education, and healthcare. This financial strain can cause stress and adversely affect family life," he stated. To curb the effects of energy poverty, Vally stated: "The rising costs of electricity calls for urgent structural reforms to the energy pricing model in South Africa. Policymakers must explore ways to stabilise prices for households and reduce the burden on vulnerable populations. There must be a concerted effort towards transitioning to a sustainable energy future that emphasises renewable energy sources. "By investing in sustainable energy technologies, the government can work towards reducing reliance on expensive fossil fuels, ultimately lowering electricity costs over the long term." Taking to X, former Eskom COO, Matshela Koko, lamented the rising costs of electricity in spite of a promise that IPPs (independent power producers) would help reduce energy prices. "Eskom's electricity sales have plummeted from 220 TWh to 180 TWh over the past decade, yet electricity costs have skyrocketed by 600%. Here's the truth: wind, solar, and battery storage won't lower the electricity prices you see on your electricity bills. It is irrespective of the near-zero marginal cost of production of wind and solar projects." Meanwhile, City Power has confirmed that it has successfully registered 10,000 qualifying customers for the Free Basic Electricity (FBE). The power utility has also extended the registration period to 31 December 2025, to allow more qualifying residents of the City of Johannesburg to benefit from the programme. "This extension is in response to a growing demand and the need to ensure that no eligible resident is left behind as we target to register a total of 130,000 people for free monthly basic electricity. Importantly, the programme has now been expanded to also accommodate households in informal settlements and areas that fall under Eskom's electricity supply network," said City Power spokesperson, Isaac Mangena. City Power's statement comes after the residents of Tembisa forced Executive Mayor of the City of Ekurhuleni, Nkosindiphile Xhakaza, to reconsider the R126 electricity fixed surcharge against Ekurhuleni residents who took to the streets two weeks ago over skyrocketing electricity prices. Mangena indicated that this will ensure that more of Johannesburg's most vulnerable communities can benefit from this critical initiative. The FBE programme offers 50kWh of free electricity monthly to qualifying indigent households and exempts registered beneficiaries from the R200 monthly fixed charge, which consists of a R70 service fee and R130 network capacity charge.

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into a world of global content with local flavor? Download Daily8 app today from your preferred app store and start exploring.
app-storeplay-store