DBSA appoints Boitumelo Mosako as new CEO

The Development Bank of Southern Africa (DBSA) has appointed current finance chief Boitumelo Mosako as its new CEO and its first black woman to lead the bank.

Mosako will succeed Patrick Dlamini whose term ends next month, having held the role of CEO for more than a decade. During his tenure, he delivered “stability, strength, and sustainable growth to the bank, and the country,” the DBSA said in a statement.

The bank said it had received approval from its shareholder, the government through the finance minister, to appoint Mosako, who was identified by the bank’s board from a pool of candidates.

The CEO of the DBSA is appointed through a process initiated by its board. It makes a recommendation to the Minister of Finance, who grants the approvals for CEO appointments.

Chair of the DBSA, Mark Swilling, said the recommendation of the first black woman as CEO is admirable, and a great feat for the bank.

“… We are proud that this move happened from within the bank. It is a testament to the strength of the institution, as a sanctuary for development practitioners, and we will rally behind her as she assumes her new role and meets all its critical demands,” Swilling said.

The bank added that Mosako has played a critical role in propelling the institution to new heights in her CFO role.

“Following cabinet’s approval of the recommendation to appoint her, the board will, with oversight from the shareholder, manage the appointment and assumption of office,” it said.

Speaking on Dlamini’s time at the bank, Swilling said: “The conviction with which he led the bank over the last decade, and the institutional credibility he assisted is one for the books. And indeed, he did not do this alone, it was all possible with the support of a capable team of executives, divisional heads, managers, practitioners and experts, and administration.”

The DBSA said the appointment process will be finalised over the coming weeks.