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On July 5, 2024, the Board of Governors of the New Development Bank approved appointment of Mr. Monale Ratsoma as Vice-President of the NDB, effective July 8, 2024, in full accordance with the Articles of Agreement of the New Development Bank.

As the Bank’s Vice-President and Chief Financial Officer, Mr. Monale Ratsoma is responsible for the treasury, portfolio management, finance and accounting functions of the NDB.

From 2018-2024, Mr. Ratsoma served as Director-General of NDB’s Africa Regional Centre (ARC), overseeing ARC’s operations, including project origination, preparation and implementation efforts for the NDB’s African regional portfolio.

Before assuming his role as DG ARC, Mr. Ratsoma served in various capacities within the South African National Treasury. These roles include Head of Economic Policy, Acting Head of International and Regional Economic Policy and Chief Director: Debt Issuance and Liability Management. In these roles he was responsible for shaping economic policies for the South African economy and matters related to international economic cooperation and regional economic policy.  Mr. Ratsoma managed South African government’s issuance of debt instruments in both domestic and international capital markets.

Prior to his Public sector experience, Mr. Ratsoma worked in the private and corporate sector, as Chief economist and Acting CEO at Thebe Stockbroking. He was a Macro Strategist at Absa Capital. He also worked in the capital markets divisions at Standard Bank and Calyon Corporate and Investment Bank.

According to the Articles of Agreement of the New Development Bank, Vice-Presidents are appointed by the Board of Governors on the recommendation of the NDB President.