Another South African has risen to the top table of global finance. The Board of Governors of the New Development Bank – the multilateral bank established by the BRICS countries – has appointed Monale Ratsoma as the bank’s vice-president from South Africa, effective 8 July 2026.
In his new role as vice-president and chief risk officer, Ratsoma takes responsibility for risk management, corporate strategy, policies, partnerships and the enforcement of environmental, social and governance standards across the bank’s operations.
“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.
A track record of firsts
Ratsoma is no stranger to the New Development Bank. He served as its vice-president and chief financial officer from July 2024 to July 2026, overseeing the bank’s multicurrency funding strategy across key capital markets – including the Euro Medium Term Note programme, Panda Bonds and South African rand funding – as well as financial reporting.
Before that, as director-general of the bank’s Africa Regional Centre from 2018 to 2024, he established the institution’s first regional office, created to finance operations across the African continent.
Forged at the National Treasury
Ratsoma cut his teeth at South Africa’s National Treasury between 2011 and 2018, where he served as deputy director-general for economic policy, leading macroeconomic modelling, econometric forecasting and microeconomic reform. As acting deputy director-general for international and regional economic policy, he negotiated landmark agreements including African Union financing reforms and led South Africa’s participation in the G20, the BRICS bloc, the Southern African Development Community and the Southern African Customs Union.
He also managed South Africa’s sovereign debt portfolio as chief director for debt issuance and liability management, and has held governance roles at the Trans-Caledon Tunnel Authority and the Corporation for Public Deposits.
Home-grown excellence
Ratsoma’s qualifications are proudly South African: a master’s degree in development economics from the University of Johannesburg, an honours degree and a Bachelor of Commerce in economics from the University of the Western Cape, complemented by executive training at the Gordon Institute of Business Science.
His appointment keeps South African expertise at the heart of an institution that channels billions into infrastructure and sustainable development across the BRICS countries and beyond – more proof that South African talent leads on the world stage. The appointment was announced by the National Treasury, as reported by SAnews.gov.za.
Photo: commons.wikimedia.org
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