Pretoria: The Board of Governors of the New Development Bank has appointed Monale Ratsoma as the bank's vice-president, effective 8 July 2026. In his new position, Ratsoma will oversee risk management, corporate strategy, policies, partnerships, and the enforcement of environmental, social, and governance standards.

According to South African Government News Agency, Ratsoma is a seasoned executive leader with over two decades of experience in international development, economic policy formulation, and global capital markets. He has now taken on the role of vice-president and chief risk officer at the bank.

Ratsoma previously served as the New Development Bank's vice-president and chief financial officer from 8 July 2024 to 7 July 2026. During that time, he managed the bank's multicurrency funding strategy across key capital markets, including the Euro Medium Term Note, Panda Bonds, and South African rand funding programmes, alongside overseeing financial statement preparation and reporting.

From 2018 to 2024, Ratsoma was the director-general at the New Development Bank's Africa Regional Centre, where he established the bank's first regional office aimed at financing African operations. His prior experience includes roles at South Africa's National Treasury from 2011 to 2018, where he served as deputy director-general for economic policy, leading macroeconomic modeling and econometric forecasting for South Africa.

Ratsoma's career also includes a stint as acting deputy director-general for international and regional economic policy, where he played a key role in negotiating African Union financing reforms and coordinated programs with multilateral development banks and international organizations. He was involved in South Africa's participation in international forums such as the Group of 20 and the Brazil, Russia, India, China and South Africa bloc.

Additionally, Ratsoma has managed South Africa's sovereign debt portfolio as chief director for debt issuance and liability management and held governance roles as an alternate director at the New Development Bank. His academic credentials include a master's degree in development economics from the University of Johannesburg and an honours degree and a Bachelor of Commerce in economics from the University of the Western Cape, complemented by executive training from the Gordon Institute of Business Science.