SADC heads endorse Zambian World Bank VP as a cand...

SADC heads endorse Zambian World Bank VP as a candidate for the AfDB Presidency

The Southern African Development Community Heads of State and Government have endorsed Dr. Samuel M. Maimbo, a national of the Republic of Zambia as the candidate for the position of the Office of the President of the African Development Group and urged Member States to campaign and support him.

The endorsement was made during the 44th Ordinary SADC Summit of Heads of States and Government in Harare, Zimbabwe on 17 August 2024. Dr. Maimbo was selected through a competitive process among seven candidates from the SADC region.

Dr Maimbo is the Vice President for Budget, Performance Review, and Strategic Planning at the World Bank Group since July 1, 2023. In this role, Dr. Maimbo oversees the World Bank’s annual Programme Budget and All Funds, including the administrative budget for Bank Budget funds, Trust Funds, and Reimbursable Funds, ensuring resources are aligned with the institution’s strategic priorities, financial sustainability objectives, efficiency targets and business needs.

He also serves as the top advisor to the World Bank’s senior management team on resource management allocation, leads the financial planning and performance review process for the institution’s multi-year Strategy and Business Outlook, and ensures the institution operates within budget.

Dr. Maimbo has nearly thirty years of experience in development, financial markets, resource mobilization and strategic planning. Prior to his current position, he served as the Chief of Staff to World Bank Presidents.

He also served as the Director of the International Development Association Resource Mobilization and International Bank for Reconstruction and Development Corporate Finance department for just over two years, where he was responsible for the implementation of IDA’s hybrid financial model and the policy analysis of IBRD income and corporate finance.

In the past 23 years at the World Bank, Dr. Maimbo has held several positions, including Senior Advisor in the Office of the Managing Director and Chief Financial Officer. He has also worked on a diverse range of operations and countries in the Bank’s Finance Competitiveness and Innovations Global Practice, including as Practice Manager for Strategy and Operations; and Practice Manager for Long-Term Finance & Risk Management supporting the Agriculture Finance & Insurance, Capital Market Development, Disaster Risk Finance, Housing Finance, Infrastructure Finance, Pensions & Insurance, and Climate Finance programs.

He also served as Financial Sector Specialist in three regions, including South Asia, sub-Saharan Africa, and Europe and Central Asia.

Prior to joining the World Bank, Dr. Maimbo held the position of Bank Inspector at the Bank of Zambia and Auditor at PricewaterhouseCoopers (PWC).