The process of identifying a replacement for Leslie Maasdorp, current Vice President of the New Development Bank (NDB) has started.
Cabinet will announce the new Vice President to the NDB after the recruitment process has been completed.
Maasdorp will at the end of his nine years of service at the NDB step down in July 2024.
In July 2015, Cabinet appointed Maasdorp as Vice President to represent South Africa at the New Development Bank in Shanghai.
Maasdorp was then appointed by the Bank to the role of Chief Financial Officer and was a member of the founding management team of the institution, under the leadership of Mr. KV Kamath, the first NDB President.
At the expiry of his contract in 2021, Maasdorp was reappointed by Cabinet for a second term of three years.
‘On behalf of my colleagues, I wish to express our sincere gratitude to Maasdorp for the distinction with which he has served South Africa in this role. As CFO, he led the treasury and capital markets activities of the Bank, having established
the global and domestic bond programs for the institution, raising more than USD 15 billion during his tenure.
‘He also led the process of obtaining the inaugural credit rating of the Bank in 2018, which established the institution as a leading new emerging markets focused multilateral development bank. I want to wish him well in his future endeavours,’ said Finance Minister Enoch Godongwana.
Maasdorp said it has been a distinct pleasure and honour to serve South Africa over the past nine years as Vice President and CFO of the NDB.
“I wish to thank Minister Godongwana, his predecessors during these nine years, as well as the Cabinet colleagues for having afforded me this incredible opportunity to be part of a historic mission to create a new global financial institution from scratch.
‘Over this period, the NDB approved over USD 6 billion of loans to South Africa, contributing significantly to the rollout of sustainable infrastructure, including in rail, ports, power, roads and water projects,’ said Maasdo
rp when commenting on his imminent departure in July.
Source: South African Government News Agency