The New Development Bank (NDB) Board of Governors has appointed Monale Ratsoma, a South African economist and financial strategist, as vice-president and chief risk officer, effective 8 July 2026.
Established in 2014 by the BRICS nations—Brazil, Russia, India, China, and South Africa—the NDB is a Shanghai-based multilateral development bank that supports infrastructure and sustainable development projects in emerging economies.
Read:
BRICS bank allocates R16bn to South Africa for urban development, according to reports.
BRICS council discusses trade and investment opportunities for the Global South.
In his new role, Ratsoma will oversee the bank’s risk framework, corporate strategies, policies, partnerships, and ensure compliance with environmental, social, and governance (ESG) standards.
ADVERTISEMENT
CONTINUE READING BELOW
Prior to this, Ratsoma served as vice-president and chief financial officer from July 2024 to July 2026, where he led the bank’s multicurrency funding strategy across international capital markets.
Before that, he was the director-general of the NDB’s Africa Regional Centre from 2018 to 2024, where he founded the institution’s first regional office to support its operations in Africa.
Before joining the NDB, Ratsoma held various senior roles at South Africa’s National Treasury from 2011 to 2018.
ADVERTISEMENT:
CONTINUE READING BELOW
His positions included deputy director-general of economic policy and acting deputy director-general of international and regional economic policy, where he managed South Africa’s relationships with the G20, BRICS, and the Southern African Development Community (SADC).
Read:
BRICS bank allocates R16bn to South Africa for urban development, according to reports.
BRICS-led Development Bank advocates for yuan financing for the Global South.
Ratsoma holds a master’s degree in Development Economics from the University of Johannesburg, alongside honors and bachelor’s degrees in Economics from the University of the Western Cape. He has also completed executive training programs at the Gordon Institute of Business Science and other prestigious international institutions.
