Latest news with #SwaziTshabalala
Bloomberg
06-08-2025
- Business
- Bloomberg
G-20 Needs to Fix Debt Revamp Framework, Top African Banker Says
The Group of 20 should consider improving its debt restructuring framework for poor nations, the former vice president of the African Development Bank said. The G-20 needs to 'think about debt restructuring frameworks and how to make them work,' Swazi Tshabalala told a conference in Johannesburg on Wednesday discussing the cost of capital, adding that the bloc needs to commit to firm timelines for implementation.
TimesLIVE
29-05-2025
- Business
- TimesLIVE
Swazi Tshabalala for AfDB president: a proven leader for a defining African moment
At a time when Africa's development trajectory is at once urgent and uncertain, the African Development Bank (AfDB) stands not merely as a financier but as a standard bearer for continental ambition. What it needs now is not just a competent manager of funds, but a leader who understands the weight of the moment, someone whose voice carries both technical authority and moral clarity. Swazi Tshabalala is that leader. Her candidacy for president of the AfDB should not be viewed as symbolic or tokenistic. It is, in fact, a pragmatic, necessary step towards aligning the institution with the Africa it serves; a dynamic, diverse and increasingly self-determined continent. Pan-African credentials with global clout Those who understand the inner workings of multilateral finance know Tshabalala as a seasoned, strategic and steady presence. She has occupied some of the most complex spaces in global finance, and walked the corridors of power in Washington and Addis Ababa, including as deputy executive director at the International Monetary Fund, where she represented 23 African nations. Tshabalala is respected across regional and ideological lines, in francophone and anglophone blocs alike, because she listens, learns and leads effectively Her leadership has shifted conversations at the G20, the UN and AU, not because she spoke the loudest, but because she always made the most sense. Her tenure at the AfDB itself, where she served as vice-president for finance and CFO , gives her an insider's understanding of what the bank does well — and what it must do better. Under Tshabalala's leadership as CFO, the AfDB was recognised as the 'Best Multilateral Development Bank' in 2021 by Global Finance due to her leadership, strategic vision and commitment to financial excellence. Technocratic depth, transformational vision and results Tshabalala doesn't wear her resume like a medal. She wears it like armour. Behind the enviable qualifications is a woman who has spent her life making sure development means something more than graphs and reports. Her policy expertise spans fiscal reform, climate finance, gender-responsive budgeting and debt restructuring. But she has also sat with ministers facing fiscal collapse, civil servants stretched thin by global multilateral institutions' conditions and grassroots women's groups demanding to be seen in national budgets. She doesn't just speak about inclusive growth — she has structured it, defended it and delivered it. A unifier in a polarised world Africa doesn't need another technocrat who speaks in acronyms or a populist who speaks in platitudes. What it needs is someone who understands that diplomacy is not the opposite of principle. Tshabalala is respected across regional and ideological lines, in francophone and anglophone blocs alike, because she listens, learns and leads effectively. In a fragmented geopolitical moment, her candidacy offers something rare: the promise of coherence without compromise, of pragmatic pan-Africanism with precision. The moment meets the candidate This is no ordinary election. The AfDB presidency is one of the most consequential African leadership posts outside government. The stakes — climate resilience, infrastructure gaps, youth unemployment, food insecurity and the digital divide are real, immediate and urgent. They are African. And they require a president who knows that development is not just about money — it's about taking action. Tshabalala understands that. She understands that Africa doesn't just need loans. It needs leverage — and leadership that commands respect, not just requests support. A mandate for the future In backing Tshabalala, Africa would be making a bold and necessary choice — not just to break tradition, but to reset it. It would be choosing substance over spectacle, integrity over influence and a voice that speaks not just for Africa but from it. When the 54 member AfDB board of governors meet to make a decision for the next president, Tshabalala's name is the only one that makes sense. She does not seek the presidency of the AfDB to decorate her legacy. She seeks it to shape Africa's. And that, frankly, is exactly what the institution and the continent needs right now: a bold reformer, inclusive leader and pragmatic visionary who understands the continent's developmental urgency, can mobilise large-scale finance, unlock private sector participation, champion regional integration and deliver infrastructure that transforms economies and lives. Africa — and the AfDB — need Swazi Tshabalala urgently. • Thebe Ikalafeng is a global African thought leader and founder and chair of Brand Africa. He's been to every country in Africa and is the best selling author of The Traveler — Crossing Borders and Connecting Africa
Arabian Post
27-05-2025
- Business
- Arabian Post
AfDB Annual Summit Opens in Abidjan Amid Leadership Transition and Capital Mobilisation Drive
Over 6,000 delegates from 81 countries convened in Abidjan on Monday as the African Development Bank commenced its 2025 Annual Meetings, focusing on strategies to harness Africa's capital for sustainable development. The five-day event, held at the Sofitel Abidjan Hotel Ivoire, is set to culminate in the election of a new president to succeed Dr. Akinwumi Adesina, whose decade-long tenure concludes in September. The summit's theme, 'Making Africa's Capital Work Better for Africa's Development,' underscores the continent's pursuit of self-reliance amid global economic challenges, including proposed $555 million funding cuts from the United States. This financial shortfall has intensified discussions on mobilising domestic resources and fostering partnerships with non-traditional donors such as China, Saudi Arabia, and the United Arab Emirates. Five candidates are vying for the presidency, each bringing distinct visions to steer the AfDB through this pivotal period. Swazi Tshabalala, the sole female contender and former senior vice president of the AfDB, advocates for internal restructuring to enhance infrastructure focus and innovation in financial instruments. Amadou Hott, Senegal's ex-economy minister, emphasises African financial self-reliance by improving revenue mobilisation and facilitating private-sector investments. Samuel Munzele Maimbo, a Zambian and current World Bank vice president, proposes enhancing intra-African trade and regulatory streamlining. Sidi Ould Tah of Mauritania focuses on economic sovereignty, capital mobilisation, and building climate-resilient infrastructure. Abbas Mahamat Tolli, with extensive financial experience across Central Africa, aims to strengthen governance and promote digital finance mechanisms. ADVERTISEMENT The election process requires a double majority: over 50% of votes from the 54 African member states and a similar majority from the broader 81-member group, including non-African stakeholders. The outcome, expected on Thursday, will determine the bank's leadership amid pressing financial and developmental challenges. A key highlight of the meetings is the launch of the African Economic Outlook 2025 report, which analyses the continent's economic performance and outlines strategies for effective capital mobilisation. The report addresses issues such as low tax-to-GDP ratios, inefficient public expenditure, and the need for institutional reforms to improve governance and reduce illicit financial flows. The summit also features thematic discussions on building effective institutions, leveraging digital transformation, and enhancing governance to foster inclusive and resilient economies. These discussions aim to align with the Sustainable Development Goals, the Paris Climate Agreement, and the African Union's Agenda 2063. Energy access remains a focal point, with the AfDB highlighting its achievements in connecting over 25 million people to electricity over the past decade. The bank's 'Light up and Power Africa' initiative and the recent 'Mission 300' collaboration with the World Bank aim to provide electricity to 300 million Africans by 2030, emphasising renewable energy investments and public-private partnerships. The meetings occur against a backdrop of global economic shifts, including increased U.S. import tariffs and reduced bilateral support to African countries. These developments have prompted African leaders to advocate for greater self-reliance and the establishment of mechanisms like the African Financial Stability Mechanism , designed to prevent potential debt crises by borrowing on international capital markets with its own credit rating.
Arabian Post
26-05-2025
- Business
- Arabian Post
Leadership Transition at AfDB Amidst Funding Challenges
The African Development Bank is convening in Abidjan, Côte d'Ivoire, this week to elect a new president, as the institution confronts significant financial pressures following proposed reductions in U.S. contributions. The U.S. government's plan to decrease its support to the AfDB and its African Development Fund by $555 million presents a substantial challenge for the incoming president. The successor to President Akinwumi Adesina, who concludes his tenure in September after serving two terms, will need to navigate this financial shortfall. Options include engaging with the U.S. to reconsider its funding decisions, seeking increased contributions from other nations such as China, Saudi Arabia, or the United Arab Emirates, or bolstering financial support from African member states. Five candidates are vying for the presidency: Swazi Tshabalala from South Africa, Amadou Hott from Senegal, Samuel Munzele Maimbo from Zambia, Sidi Ould Tah from Mauritania, and Abbas Mahamat Tolli from Chad. Each brings distinct perspectives and strategies to address the bank's current challenges. ADVERTISEMENT Swazi Tshabalala, the only female candidate and former senior vice president of the AfDB, emphasizes internal restructuring to enhance the bank's focus on infrastructure and innovative financial instruments. Amadou Hott, Senegal's former economy minister, advocates for African financial self-reliance by improving revenue mobilization and facilitating private-sector investments. Samuel Munzele Maimbo, a World Bank vice president from Zambia, supports intra-African trade, regulatory streamlining, and a unified development approach across the continent. Sidi Ould Tah of Mauritania, with extensive experience in development banking, focuses on economic sovereignty, capital mobilization, formalizing Africa's informal sector, and building climate-resilient infrastructure. Abbas Mahamat Tolli, with a rich financial background across Central Africa, proposes enhanced governance, risk pooling, and digital finance mechanisms to curb resource mismanagement and promote self-sufficiency. The election process involves votes from the AfDB's 54 African member states and its broader 81-member group, which includes non-African stakeholders. The outcome will significantly influence the bank's direction amid shifting global economic dynamics. The proposed U.S. funding cuts are part of a broader reevaluation of foreign aid under the current administration. Executive Order 14169, signed on January 20, 2025, initiated a 90-day pause on all U.S. foreign development assistance programs to conduct a comprehensive review. While some humanitarian programs have been exempted, the overall reduction in aid has raised concerns about the impact on development initiatives across Africa. In response to these challenges, African leaders and institutions are emphasizing the need for increased self-reliance and investment in regional development mechanisms. The African Trade Insurance Agency has called for greater investment in African development institutions to reduce dependence on unpredictable donor funding. Similarly, the Africa Centres for Disease Control and Prevention has launched the African Epidemic Fund to provide flexible funding for disease outbreak responses, highlighting a shift towards internally driven solutions.
