Development finance institution the New Development Bank (NDB) has appointed Monale Ratsoma VP and chief risk officer, with responsibility for risk management, corporate strategy, policies, partnerships and enforcing environmental, social and governance standards.

The appointment is with effect from July 8. Prior to that, Ratsoma was NDB VP and CFO from July 2024.

South Africa's National Treasury describes Ratsoma as a distinguished executive leader and international financial strategist with over two decades of experience at the intersection of international development, economic policy formulation, macroeconomic analysis, sovereign and private sector finance and global capital markets.

He was previously the director-general at the NDB’s Africa Regional Centre (ARC) from 2018 to 2024, where he established the bank's first regional office to finance African operations.

Prior to joining the NDB, he served at South Africa's National Treasury, from 2011 to 2018, where he held various roles, including deputy director-general: economic policy, where he led macroeconomic modelling and econometric forecasting and microeconomic reforms for South Africa, among other responsibilities; acting deputy director-general: international and regional economic policy, where he negotiated landmark agreements including African Union financing reforms, as well as coordinating programmes with multilateral development banks and international organisations while leading participation at the Group of 20, BRICS, the Southern African Development Community and the Southern African Customs Union.

He was also the chief director: debt issuance and liability management where he managed South Africa's sovereign debt portfolio.

Ratsoma has also served in key governance roles, including as an alternate director at the NDB and a nonexecutive director at the Trans-Caledon Tunnel Authority and the Corporation for Public Deposit (CPD) and was also acting CEO and chief economist at Thebe Stockbroking.

He holds a master’s degree in development economics from the University of Johannesburg, abd an Honours and BComm Economics from the University of the Western Cape. These are complemented by executive training from Gordon Institute of Business Science and other international institutions.