Gantshoâs African Development Bank appointment
10 March 2006
The Minister of Finance, Mr Trevor A Manuel, also the Governor of the
Development Bank of Southern Africa (DBSA), wishes to announce that outgoing
DBSA Chief Executive and Managing Director, Mr Mandla Gantsho, would be joining
the African Development Bank (AfDB) later in the year. Mr Gantshoâs appointment
is in line with the restructuring at the AfDB announced by the recently
appointed AfDB President, Mr Donald Kaberuka.
Minister Manuel supports Mr Gantshoâs appointment as Vice President for
Northern, Eastern and Southern African Operations of the AfDB. The South
African government as a shareholder is confident that Mr Gantshoâs knowledge,
experience and commitment to development will make a tangible contribution
towards accelerated socio economic development of the continent and realising
the New Partnership for Africaâs Development (NEPAD) vision of a vibrant and
prosperous Africa. In his current leadership role Mr Gantsho has played a
pivotal role in transforming the DBSA into a leading and widely respected
regional development bank.
Mr Gantsho, a Chartered Accountant, was the DBSAâs Chief Financial Officer
from 1995 to 2000. After a 15 month secondment to the World Bankâs Washington
based private sector lending arm, the International Finance Corporation (IFC),
he was recalled by Minister Manuel to be Chief Executive and Managing Director
of the DBSA in July 2001. During his five year term as CEO and MD, Mr Gantsho
is widely acknowledged as having placed the DBSA on an unprecedented growth
trajectory, with disbursements growing by more than 60 percent to over R3
billion per annum, and total assets increasing by 50 percent to over R24
billion in 2006. At the DBSA, he has adeptly maintained the delicate balance
between development impact and financial sustainability, a feat that has eluded
many development banks. His term has been accompanied by increased emphasis on
the bankâs developmental role and in making its finance and support more
accessible and affordable to less capacitated local government clients. A
further significant contribution has been the revitalisation of the DBSAâs
capacity building and knowledge management role with the establishment of a
dedicated development fund an in house training academy and the strengthening
of its development policy and information capacity.
Moreover, Minister Manuel expresses his sincere appreciation to Mr Gantsho
for his loyalty and dedication for having heeded the call when asked to return
from the IFC to serve as CEO and MD of the DBSA and wishes him well in his new
appointment
Contact:
Thoraya Pandy
Cell: 082 416 8416
Issued by: Ministry of Finance
10 March 2006
