Leslie Maasdorp, Vice-President, Chief Financial Officer, and Debt Officer of the New Development Bank, will step down on July 7, 2024, following the conclusion of his term, according to Business Report.
The process to appoint his successor has started.
Initially appointed by the South African Cabinet in 2015 to represent the country at the NDB in Shanghai, Maasdorp assumed various leadership roles within the bank, including CFO, as part of the founding management team led by Kundapur Vaman Kamath, the inaugural NDB president. His tenure, extended in 2021 for a second three-year term, saw notable achievements.
Finance Minister Enoch Godongwana commended Maasdorp for his distinguished service, particularly highlighting his stewardship in raising over $15 billion through global and domestic bond programmes, and securing the NDB’s inaugural credit rating in 2018, positioning it as a prominent emerging markets-focused development bank.
Reflecting on his tenure, Maasdorp expressed pride in the NDB’s contributions, including approving over $6 billion in loans to South Africa, facilitating sustainable infrastructure projects in transportation, energy, and water sectors.
Read more: The New Development Bank: Ten years later
