SA’s Monale Ratsoma appointed Brics bank vice-president

The Board of Governors of the New Development Bank (NDB) has appointed South African economist and financial strategist Monale Ratsoma as vice-president and chief risk officer, effective 8 July 2026.

Established in 2014 by the Brics countries – Brazil, Russia, India, China and South Africa – the NDB is a multilateral development bank headquartered in Shanghai that finances infrastructure and sustainable development projects across emerging economies.

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In his new role, Ratsoma will oversee the bank’s risk management, corporate strategy, policies, partnerships, and the implementation of environmental, social and governance (ESG) standards.

Ratsoma previously served as vice-president and chief financial officer from July 2024 to July 2026, leading the bank’s multicurrency funding strategy across international capital markets.

Before that, he was director-general of the NDB’s Africa Regional Centre from 2018 to 2024, where he established the bank’s first regional office to support its African operations.

Prior to joining the NDB, Ratsoma held several senior leadership positions at South Africa’s National Treasury between 2011 and 2018.

These included deputy director-general of economic policy, as well as acting deputy director-general of international and regional economic policy, overseeing South Africa’s engagement with the G20, Brics and the Southern African Development Community (Sadc).

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He holds a master’s degree in Development Economics from the University of Johannesburg, and honours and bachelor’s degrees in Economics from the University of the Western Cape. He also underwent executive training from the Gordon Institute of Business Science and other international institutions.