Ms. Tshabalala Bajabulile Swazi, the only female candidate among four contenders for the presidency of the Africa Development Bank, has emphasized her commitment to repositioning the bank to address Africa’s pressing economic challenges.
Speaking on JoyNews, the South African business executive and former senior vice president of the Africa Development Bank said, “I want to position the Africa Development Bank to think differently about development finance.”
Infrastructure and Private Sector Collaboration
Ms. Tshabalala stressed the need to address Africa’s infrastructure deficit, which she considers a major hindrance to economic productivity. She noted that closing this gap is essential for the success of the Africa Continental Free Trade Agreement and broader economic growth.
“If you look at our ability to be productive, to operationalize the Africa Continental Free Trade Agreement, it depends on basic infrastructure. We must now think differently and collaborate with the private sector to accelerate progress,” she said.
She outlined three core pillars of her vision for the Africa Development Bank. These include focusing on large-scale infrastructure projects, fostering private sector development, and prioritizing digital infrastructure to support Africa’s economic transformation.
She said a thriving private sector requires reliable electricity, well-functioning roads, rail systems, and efficient ports. She explained that Africa needs an environment that allows businesses to flourish. “My vision is to ensure the Africa Development Bank prioritizes infrastructure, including digital infrastructure, which is crucial for bridging gaps in health and education, she emphasized.
Energy as a Catalyst for Growth
Energy security remains a top priority in Ms. Tshabalala’s agenda. Addressing the persistent electricity shortage in Africa, she pointed to the Grand Inga Dam in the Democratic Republic of Congo as an example of untapped potential.
She mentioned that in Africa, it is not just about money; it is about having the capacity to develop, maintain, and sustain electricity generation, transmission, and distribution, adding that the private sector must play a role in these projects.
Ms. Tshabalala highlighted the importance of reforms in the energy sector. “, I would argue that what’s more important is a reform of the sector, number one. And secondly, I think that, you know, related to that is really making it possible for the private sector to bring financing and skills into the sector. We address those issues, the money will come,” she noted.
The Role of the Africa Development Bank in Economic Stability
The discussion also touched on Africa’s dependence on the International Monetary Fund (IMF) and the World Bank for economic assistance. Ms. Tshabalala clarified that the Africa Development Bank’s mandate does not currently include providing financial bailouts like the IMF.
“You must remember that each of these organizations have a mandate. And the mandate of the African Development Bank, as directed by the shareholders of the bank, which includes Ghana, does not include that kind of support and intervention.” She however expressed optimism that the mandate of the AFDB can change but if fundamental issues are not addressed, the challenges will continue. She said, “the shareholders can have a discussion about whether the mandate of the African Development Bank can change. But I want to argue strongly that if we don’t fix the fundamental issues, even if the African Development Bank becomes mandated to help countries, we’ll have it again,” she explained.
Ms. Tshabalala reiterated the importance of a strong private sector in driving Africa’s economic independence. “I always argue that Africa doesn’t need new strategies or new plans. Agenda 2063 has been there for a very long time. We know what needs to be done. And my argument is like, can we get on with it finally?” she questioned.
Advancing Trade and Free Movement in Africa
On the topic of intra-African trade, Ms. Tshabalala acknowledged the progress made through the Africa Continental Free Trade Agreement but noted that significant challenges remain in its implementation.
“Ratifying the agreement was a step forward, but we must now focus on operationalizing it. Many regional economic communities are not functioning at the level required to support continental integration. The ECOWAS Free Trade Area, for example, faces many obstacles,” she said.
She also highlighted barriers to the free movement of people and goods across African borders, such as poor road infrastructure, inefficient transport systems, which make it difficult for businesses to thrive.
Despite these challenges, Ms. Tshabalala remains optimistic that solutions that are practical and region-specific will be efficient while working towards a more unified continent.
