New Development Bank Appoints Monale Ratsoma as Vice-President and CFO

  • Appointment Announcement: The New Development Bank appointed Mr. Monale Ratsoma as Vice-President and Chief Financial Officer.
  • Responsibilities: Mr. Ratsoma will oversee treasury, portfolio management, finance, and accounting functions at the bank.
  • Compliance: The appointment aligns with the JSE Debt Listings Requirements, particularly paragraph 6.39.

The New Development Bank (NDB) has announced a key executive appointment. Mr. Monale Ratsoma has been named Vice-President and Chief Financial Officer (CFO) of the bank, effective from 8 July 2024.

Leadership Change

New Vice-President and CFO

The NDB has appointed Mr. Monale Ratsoma as the new Vice-President and CFO. This appointment aligns with the bank’s policy on director nominations. Mr. Ratsoma’s responsibilities will encompass several critical financial functions.

Responsibilities

In his new role, Mr. Ratsoma will oversee:

  • Treasury
  • Portfolio management
  • Finance
  • Accounting

These functions are crucial for the bank’s operations and financial stability.

Background

The New Development Bank

The New Development Bank was established by the Articles of Agreement on 15 July 2014 in Fortaleza. The bank aims to support public and private projects through loans, guarantees, equity participation, and other financial instruments.

Mr. Monale Ratsoma

Mr. Ratsoma brings a wealth of experience to his new role. His expertise will be invaluable to the NDB as it continues to grow and support development projects.

Conclusion

The New Development Bank’s appointment of Mr. Monale Ratsoma marks a significant step in its leadership strategy. With Mr. Ratsoma’s extensive experience, the bank is poised for continued growth and stability.


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