A delegation of the World Bank Group’s (WBG) Board of Executive Directors (EDs) has noted South Africa’s and Namibia’s progress in achieving their development goals and reaffirmed the World Bank Group's commitment to providing support. The 11 EDs and Alternate EDs were hosted by the World Bank and International Finance Corporation (IFC) country offices during their visit from July 7-13.
The visit provided a platform to assess project progress and engage on the evolution of the World Bank Group’s relationship with the countries, transitioning from a knowledge-focused partnership to one encompassing both knowledge and financing. EDs met government and business leaders, local stakeholders, and project beneficiaries, gaining firsthand experience in how these countries manage development priorities and challenges. South Africa and Namibia face common issues such as poverty, unemployment, and inequality. Throughout the visit, discussions centered on ongoing and future support from the World Bank Group to boost inclusive economic growth and job creation.
In South Africa, over the past three years, the country has shifted from being a non-borrowing client to borrowing over $1 billion per year from the World Bank. South Africa also constitutes the largest IFC portfolio in Africa and is MIGA's second largest on the continent.
In Namibia, the World Bank Group is preparing a new Country Partnership Framework (CPF) with the government that will strategically guide its support as engagement continues to grow. The World Bank recently approved a $138.5 million renewable energy and transmission loan to NamPower after 15 years without borrowing.
Key highlights of the visit included meetings with key officials in both countries:
In South Africa, the delegation met with Minister of Finance Honorable Enoch Godongwana and Minister of Electricity and Energy Honorable Kgosientsho Ramokgopa. They visited two IFC clients and two World Bank projects that showcased support for key government priorities such as just energy transition, health, urban development, and subnational government engagement. The delegation toured Komati power station—site of Eskom Just Energy Transition Project; Addo Elephant Park which houses Wildlife Conservation Bond; Trust for Urban Housing Finance; and BioVac Institute which manufactures vaccines locally.
In Namibia, meetings were held with Minister of Finance and Public Enterprises Honorable Ipumbu Shiimi along with key stakeholders including development partners and private sector representatives. The delegation visited informal settlements near Windhoek to gain insights into housing-related issues—a sector where IFC is investing—which has been identified by the government as a priority for World Bank Group engagement.
Matteo Bugamelli, Executive Director representing countries including Albania, Greece, Italy, Malta, Portugal, San Marino, and Timor-Leste expressed optimism about both countries' progress. He emphasized the World Bank Group's commitment to helping South Africa and Namibia address unemployment and inequality challenges while welcoming increased financing for much-needed reforms.
The Board of Executive Directors is responsible for conducting general operations of the WBG including decisions on loans, credits, grants, policies, and financial matters. It consists of 25 members representing 189 member countries who provide guidance for institutional development activities.
The visiting delegation included Mr. Abdulaziz E A Almulla (Executive Director for Bahrain among other nations), Mr. Matteo Bugamelli (Executive Director for several European nations), Ms. Ayanda Dlodlo (Executive Director for Angola among others), Mr. Floribert Ngaruko (Executive Director for multiple African nations), Ms. Katharine Rechico (Executive Director for Canada among others), Mr. Tauqir Shah (Executive Director for Afghanistan among others).
Alternate Executive Directors included Mr. Louis Albisson (France), Mr. Felice Gorordo (United States), Mr. Koji Uemura (Japan), Ms. Kerstin Sumana Wijeyewardene (Asia-Pacific Constituency), Mr. Weifeng Yang (China). Also present was Ms. Mercy Tembon, World Bank Vice President & Corporate Secretary.