The Board of Governors of the New Development Bank has appointed Monale Ratsoma as the bank’s vice-president from South Africa, effective 8 July 2026.
In his new role, Ratsoma will be responsible for risk management, corporate strategy, policies, partnerships and enforcing environmental, social and governance standards.
“Ratsoma is a distinguished executive leader and international financial strategist with over two decades of experience at the intersection of international development, economic policy formulation, macroeconomic analysis, sovereign and private sector finance, and global capital markets,” the National Treasury said on Wednesday.
He has taken up the position of vice-president and chief risk officer.
Ratsoma previously served as the New Development Bank’s vice-president and chief financial officer from 8 July 2024 to 7 July 2026. In that role, he provided executive oversight of the bank’s multicurrency funding strategy across key capital markets, including the Euro Medium Term Note, Panda Bonds and South African rand funding programmes, as well as financial statement preparation and reporting.
He was also director-general at the New Development Bank’s Africa Regional Centre from 2018 to 2024, where he established the bank’s first regional office to finance African operations.
Before joining the New Development Bank, Ratsoma served at South Africa’s National Treasury from 2011 to 2018, where he held various roles, including deputy director-general for economic policy.
In this role, he led macroeconomic modelling and econometric forecasting, as well as microeconomic reforms for South Africa, among other responsibilities.
He also served as acting deputy director-general for international and regional economic policy, where he negotiated landmark agreements, including African Union financing reforms, and coordinated programmes with multilateral development banks and international organisations. He also led participation in the Group of 20, Brazil, Russia, India, China and South Africa bloc, Southern African Development Community and Southern African Customs Union.
Ratsoma was also chief director for debt issuance and liability management, where he managed South Africa’s sovereign debt portfolio.
He has also served in key governance roles, including as an alternate director at the New Development Bank and a non-executive director at the Trans-Caledon Tunnel Authority and the Corporation for Public Deposits. He was also acting chief executive officer and chief economist at Thebe Stockbroking.
Ratsoma holds a master’s degree in development economics from the University of Johannesburg, as well as an honours degree and a Bachelor of Commerce in economics from the University of the Western Cape. His qualifications are complemented by executive training from the Gordon Institute of Business Science and other international institutions. -SAnews.gov.za
