Prominent South African economist to lead Brics Bank risk

Source: New Development Bank.

Effective 8 July 2026, Ratsoma will oversee risk management, corporate strategy, partnerships and ESG standards.

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.

Public finance leadership

Prior to joining the New Development Bank, Ratsoma served at the National Treasury of South Africa from 2011 to 2018, where he held various roles, including, the Deputy Director-General: Economic Policy, where he led macroeconomic modelling and econometric forecasting, and micro-economic reforms for South Africa, among other responsibilities.

Source: Supplied. Monale Ratsoma, NDB's new Vice President and Chief Risk Officer.

He was also acting Deputy Director-General: International and Regional Economic Policy, where he negotiated landmark agreements including African Union financing reforms, as well as co-ordinating programmes with multilateral development banks and international organisations, while leading participation at the G20, Brics, SADC and Sacu.

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 alternate director at the NDB and a non-executive director at the Trans Caledon Tunnel Authority (TCTA), Corporation for Public Deposit (CPD) and was also acting chief executive officer and chief economist at Thebe Stockbroking.

He holds a master’s degree in development economics from the University of Johannesburg, and Honours & B. Com Economics from the University of Western Cape. These are complemented by executive training from Gordon Institute of Business Science (GIBS) and other international institutions.

With his background in South Africa's National Treasury and experience leading the NDB's Africa Regional Centre, the move reinforces South Africa's role in global development finance and strengthens the NDB's executive team.

With his background in South Africa's National Treasury and experience leading the NDB's Africa Regional Centre, the move strengthens South Africa's representation in global development finance. It also reflects the NDB's continued governance and efforts to strengthen its executive team.