Zondo Sakala’s defining moment

Molline Gagare Business Reporter
ZIMBABWE’S Thomas Zondo Sakala today battles it out with seven other candidates for the presidency of African Development Bank (AfDB) in Abidjan, Cote d’Ivoire.Sakala, a former vice president of the top regional banking group, resigned from his post last year to campaign for the position of president.

Eight candidates will tussle to replace Donald Kaberuka of Rwanda who completed his second and final term on May 11.

He was first elected to office in 2005 and re-elected again in 2010.

The presidential election will be held at the AfDB general meeting.

Zimbabwe and the Sadc bloc have thrown their weight behind Sakala to lead the multilateral developmental financier.

Hopes are high that Sakala will shrug off the challenge of Akinwumi Adesina of Nigeria, Sufian Ahmed of Ethiopia, Jaloul Ayed of Tunisia, Kordje Bedoumra of Chad, Cristina Duarte of Cape Verde, Samurai Kamara from Sierra Leone and Birama Boubacar Sidibe of Mali and land the coveted post.

The Zimbabwean candidate has more than 30 years experience having worked for the AfDB in various departments.

He is hopeful his vast knowledge and work experience will give him an edge over other candidates.

“I’ve a lot of experience at the bank working in a number of different key areas and participated in reforms that have placed the bank where it is today. Another advantage is my extensive knowledge of African countries, economies and leaders and my familiarity with the African development landscape will give me a competitive edge. These attributes give me the right profile to build on Kaberuka’s successes,” said Sakala in a recent interview.

His candidacy has received backing from Zimbabweans in different sectors of the economy.

“It would be great if Sakala were to become president because he understands the reality of the Zimbabwean situation. He’ll be in a position to provide the institution with accurate information about what exactly is going on in the country and lead positive engagement with the international community,” said Davison Gomo, an economic analyst.

He said the anticipated victory by Sakala would see history being made as the African Union chairmanship, currently held by President Robert Mugabe and the AfDB presidency would come to the same country.

“It certainly would be a double advantage as both men have a deep understanding of Zimbabwe and Africa as a whole. President Mugabe is on record calling for the industrialisation of Africa and him working with Sakala, should he win, will see Africa develop in leaps and bounds,” Gomo said.

Speaking on ZBC news, Zacks Murerwa said it would be much easier for Zimbabwe to secure funds for developmental projects if Sakala sails through.

“There’s more to it than what we need and I can safely tell you that his appointment will be critical in unlocking funds into this economy,” he said.

The AfDB was founded following an agreement signed by member states on August 14, 1963, in Khartoum, Sudan and became effective on September 10, 1964. The AfDB comprises three entities: the African Development Bank (ADB), the African Development Fund (ADF) and the Nigeria Trust Fund (NTF).

Its primary objective is to assist African countries — individually and collectively — in their efforts to achieve economic development and social progress.

To this end, the institution’s main challenge is to reduce poverty on the continent.