New Development Bank Begins Search for the Successor of Leslie Maasdorp
The New Development Bank (NDB) has embarked on the process of identifying a successor for Leslie Maasdorp, the current Vice President and CFO, as he prepares to conclude his nine-year tenure at the institution on July 7, 2024. Following the completion of the recruitment process, the Cabinet will announce the appointment of the new Vice President to the NDB.
Maasdorp was appointed as Vice President by the Cabinet in July 2015 to represent South Africa at the NDB in Shanghai. Subsequently, he assumed the role of Chief Financial Officer and played a pivotal role as a member of the founding management team under the leadership of Mr. KV Kamath, the first NDB President.
Acknowledging Maasdorp’s exemplary service, Finance Minister Enoch Godongwana expressed gratitude for his distinguished contributions. Maasdorp’s tenure as CFO saw significant achievements, including the establishment of global and domestic bond programs that raised over USD 15 billion for the institution. He also spearheaded the process of obtaining the NDB’s inaugural credit rating in 2018, positioning the institution as a prominent multilateral development bank focused on emerging markets.
Reflecting on his tenure, Maasdorp expressed gratitude for the opportunity to serve South Africa and be part of the historic mission to establish a new global financial institution. During his tenure, the NDB approved over USD 6 billion in loans to South Africa, contributing substantially to sustainable infrastructure projects in sectors such as rail, ports, power, roads, and water.
As Maasdorp prepares to step down, he leaves behind a legacy of impactful leadership and a significant contribution to the NDB’s mission of fostering sustainable development.
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