Swazi Tshabalala sets eyes on Africa's top bank job

Bajabulile Swazi Tshabalala says she is on a mission to reshape the continent’s future by bringing different types of expertise to the presidency of African Development Bank (ADB). 

With a career spanning the private sector, public service and development finance, Tshabalala – the only female candidate – is championing a bold vision focused on accelerating integrated infrastructure and boosting productivity on the continent. 

Tshabalala said her campaign for the position was not just about leadership but laying the groundwork for lasting development that benefits Africans.

The 59-year-old, who was born and raised in Dube Village, Soweto, said she was lucky to have been nominated for the position and should she be elected, her focus would be on lifting Africa.

“I am nominated based on the strong attributes that I bring to a leadership position. Not many women make it to the very top, so I am one of the lucky few. And I think it is important that when you get there [the top], you try to lift as many people as you can,” Tshabalala said.

“It would not feel good for me to quit now. There is a lot more that I can do and a lot more young people that I can inspire who can then take the fight forward once I am too old to do anything.”

What inspired her to run for the presidency was the realisation of the continent's vulnerability.

This, she said, happened post-pandemic when some countries were struggling to get malaria medicine. 

“It turned out that we were not producing but importing malaria medicine. During the shutdown, this was exposed. Our vulnerabilities were [further] exposed when the war happened in Ukraine, and then all of a sudden, we were hearing food prices are going up in Africa because we can’t get wheat from Ukraine or fertiliser from Russia. 

“It really hits you that basic things like our health and food security are dependent on others. I was already at the African Development Bank when these things happened, but it solidified a feeling inside me that we needed to take matters into our own hands as a continent and make sure that we prepare for our future.” 

Tshabalala said growing up under apartheid, she felt strongly about doing things to change history. “I was always very interested not only in SA’s development but the continent’s,” she said.

Tshabalala said having worked for organisations like MTN and Standard Bank, which have operations all over the continent, she understands the potential that a developing and productive Africa has on creating jobs for its young people.

In addition, the fact that she is a woman means she also brings an additional perspective.

“SA feels very strongly that, after 60 years, it was time the bank had a woman at its helm. SA is very much committed to gender equality,” she said, adding that more and more women in Africa were taking up leadership roles.

“They [SA] felt very strongly that it should be a woman who runs the bank, so that we also focus on the fact that women make up 50% of this continent’s population. And we need to make sure that they are leading its transformation and not just waiting in the back to be assisted from time to time, but leading, not just at [the bank], but in organisations across Africa,” she said.

She said as part of her “Lift Africa” strategy, it was important to address the lack of integrated infrastructure, which is important for improving inter-African trade.  

“The productivity of African businesses depends on them having reliable roads to get to markets, having access to a stable electricity supply, so that they don’t have to worry about load shedding.

“You can imagine that there are lots of businesses that start providing services and products to a local community but can’t go beyond that because there are no roads. They don’t have access to other markets or are limited to working from their home because they can’t get buildings and factories where they can expand their production,” she said.

Akinwumi Adesina, president of the African Development Bank, will step down in September, and the election for a new head of the institution will be held on May 29.

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