South Africa Lobbies Kenya to Back Swazi Tshabalala for AfDB Presidency

South Africa has formally asked Kenya to support its candidate, Swazi Tshabalala, for the presidency of the African Development Bank (AfDB) — Africa’s premier financial institution, rated triple A by the world’s top credit agencies.

Kenya’s Cabinet Secretary for Foreign Affairs, Musalia Mudavadi, met with Tshabalala and senior South African officials over the weekend, according to a statement from Mudavadi’s office. While Kenya has yet to declare its official stance, the request signals a strategic move by South Africa to build regional consensus ahead of the crucial AfDB elections scheduled for next month in Abidjan, Côte d’Ivoire.

The Only Female Candidate in a Competitive Race

Tshabalala, a former Senior Vice President of the AfDB, is one of five candidates vying to lead the bank. She is the only woman in the race and brings more than 30 years of financial and leadership experience.

“Leadership is not about gender—it’s about vision, competence, and the courage to transform Africa’s financial future,” Tshabalala said after her meeting with Kenyan officials.

She resigned from her VP role at the AfDB in September 2024, after a successful three-year tenure. Her prior leadership roles include positions at Old Mutual Employee Benefits, Standard Bank Group, Transnet, and a pivotal period as CEO of the Industrial Development Corporation from 2006 to 2014.

If elected, Tshabalala says she plans to focus on infrastructure development and expanding the role of Africa’s private sector, aligning with long-term continental priorities.

The Race for the AfDB Presidency

Tshabalala faces four other high-profile candidates:

• Samuel Maimbo of Zambia, backed by SADC and COMESA

• Amadou Hott of Senegal, former special envoy for green infrastructure

• Sidi Ould Tah of Mauritania, ex-president of the Arab Bank for Economic Development in Africa

• Abbas Mahamat Tolli, Chad’s former finance minister

Winning the presidency requires a double majority: support from African shareholders, who hold 60%, and from non-African shareholders, who hold the remaining 40%.

Regional Diplomacy at Play

South Africa’s lobbying of Kenya is part of broader regional maneuvering as countries look to build blocs of support for their preferred candidates. Kenya’s backing could prove significant in swaying East African nations and possibly even broader support from African Union partners.

Tshabalala’s candidacy offers a blend of seasoned leadership, financial acumen, and gender representation in one of Africa’s most influential roles. Whether she secures enough backing remains to be seen, but South Africa has clearly put its full weight behind her campaign.

The next AfDB president will be elected during the bank’s annual meetings in May 2025.

{Source CNBC}

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