Aug 07, 2012
Mo Shaik appointed to head DBSA’s new international unitBack
Banco Nacional De Desenvolvimento Econômico|China Development Bank|Development Bank International|Export-Import Bank Of India|The Development Bank Of Southern Africa|Vnesheconombank|Algeria|Brazil|China|Germany|India|Russia|South Africa|United States|Bank|Development Finance Institution|Internal And External Advertising|Jabu Moleketi|Mo Shaik|Nkosazana Dlamini-Zuma|Patrick Dlamini|Paul Baloyi
© Reuse this
Shaik’s appointment, which was made within days of confirmation of Patrick Dlamini’s selection as the new CEO of the DBSA itself, was effective immediately.
Dlamini had been selected as the permanent replacement for Paul Baloyi, following his resignation in April. He was currently serving notice at Air Traffic and Navigation Services and would join the development finance institution (DFI) from September.
Chairperson Jabu Moleketi told Engineering News Online that Shaik’s appointment followed a thoroughgoing selection process overseen by a committee established by the bank’s board.
The process included internal and external advertising of the position, as well as a headhunting exercise. Four candidates had been shortlisted to participate in a series of intensive interviews, as well as a psychometric analysis.
Moleketi said Shaik emerged as the “strongest candidate” for the position, notwithstanding his lack of banking experience.
“We have strong internal financial capacity, but were looking for somebody to take a leadership role,” he elaborated.
The DBI would take over responsibility for all of the DBSA’s non-South African activities, which had historically comprised about 30% of the State-owned group’s activities.
The DBSA reported investment approvals of R37.1-billion in 2010/11, of which around 20% was for activities in the rest of the Southern African Development Community.
Moleketi said Shaik’s previous diplomatic experience made him an appropriate candidate to lead the DBI at a time when it would be engaging with partner banks in the Brics bloc of Brazil, Russia, India and China, on the creation of a new Brics DFI.
The other banks involved in the process included the China Development Bank, Banco Nacional de Desenvolvimento Economico e Social, or BNDES, of Brazil, Russia’s Vnesheconombank and the Export-Import Bank of India.
Prior to joining the DBSA, Shaik held several senior management positions both in the private and public sector. He was CEO at CorpAfrica, consul general in Germany, South Africa’s ambassador to Algeria, special adviser to former Foreign Affairs Minister Nkosazana Dlamini-Zuma, head of the South African Secret Services at the Ministry of State Security and head of policy research at the Department of Foreign Affairs.
Shaik holds a BSc (Computer Science), a Bachelor of Optometry and a Masters in Optometry, all from the University of Durban Westville (now incorporated into the University of KwaZulu-Natal). He has also completed an advanced management programme at the Harvard Business School, in the US.
Edited by: Creamer Media Reporter© Reuse this Comment Guidelines
Other Construction News
As part of Goscor Group, Goscor Lift Truck Company (GLTC) has been providing best practice in industrial warehousing equipment solutions for the past 30 years. The company provides a range of market-leading products, including Crown, Doosan, Bendi and Hubtex. This...
Recent Research Reports
Steel 2014: A review of South Africa's steel sector (PDF Report)
Creamer Media’s Steel 2014 report provides an overview of the global steel industry and particularly of South Africa’s steel sector over the past year, including details of production and consumption, as well as the country's primary carbon steel and stainless...
Projects in Progress 2014 - First Edition (PDF Report)
This publication contains insight into progress at the delayed Medupi and Kusile coal-fired projects, in Mpumalanga and Limpopo respectively, as well as at the Ingula pumped-storage scheme, which is under construction on the border between the Free State and...
Automotive 2014: A review of South Africa's automotive sector (PDF Report)
The report provides insight into the business environment, the key participants in the sector, local construction demand, geographic diversification, competition within the sector, corporate activity, skills, safety, environmental considerations and the challenges...
Construction 2014: A review of South Africa's construction sector (PDF Report)
Construction data released during 2013 hints at a halt to the decline in the industry during the last few years, with some commentators averring that the industry could be poised for recovery. However, others have urged caution, noting that the prospects for a...
Electricity 2014: A Review of South Africa's Electricity Sector (PDF Report)
This report provides an overview of the state of electricity generation and transmission in South Africa and examines electricity planning, investment in generation capacity, electricity tariffs, the role of independent power producers and demand-focused initiatives,...
Defence 2013: A review of South Africa's defence industry (PDF Report)
Creamer Media’s 2013 Defence Report examines South Africa’s defence industry, with particular focus on the key players in the sector, the innovations that have come out of the defence sector, local and export demand, South Africa’s controversial...
This Week's Magazine
The Electronic Systems Laboratory (ESL) of the Department of Electrical and Electronic Engineering at Stellenbosch University is strongly reaffirming its position as one of South Africa’s leading centres for satellite technology and expertise. It is currently...
The world’s lowest-cost diesel-electric locomotive is not made in China, but in Pretoria, at RRL Grindrod Locomotives’ newly upgraded 30 000 m2 plant. The company’s locomotive pricing is “more competitive than any other original-equipment manufacturer (OEM)...
The South African Defence Review 2012, released to the public at the end of last month (despite the year given in its title) recommends the creation of the post of Chief Defence Scientist. This official would be responsible for the management of defence technology...
AltX-listed engineering technology company Ansys has been awarded an R188-million contract by Transnet to supply integrated dashboard display systems to the freight rail utility’s locomotives. Black-owned and controlled Ansys developed the bespoke integrated system...
South Africa’s sole nuclear power station Koeberg, which is located in the Western Cape, breached a major operations milestone on April 4, which marked the thirtieth anniversary of Unit 1 having been connected to the grid. Eskom, which operates the two-unit plant,...