Building Africa’s Future: A Conversation with Boitumelo Mosako, CEO of the Development Bank of Southern Africa, on Infrastructure, Sustainable Growth & Paving the Way for Inclusive Growth

In this insightful conversation, Boitumelo Mosako, CEO of the Development Bank of Southern Africa (DBSA), delves into how the Bank plays a pivotal role in Africa’s development by financing transformative infrastructure projects. From energy to education, Mosako highlights the importance of sustainable solutions and regional integration in building a prosperous Africa.

Africa Collective: Can you briefly introduce yourself and your organisation?

My name is Boitumelo Masako, and I serve as the Chief Executive Officer of the Development Bank of Southern Africa (DBSA). With over 22 years of experience as a Chartered Accountant and executive, I have cultivated a diverse skill set in finance and leadership.

The Development Bank of Southern Africa (DBSA) is one of the leading development financial institutions on the African continent. Our primary mission is to provide impactful development finance solutions that drive transformative change within South Africa and across the broader African continent. Improving the quality of life for individuals in Africa remains at the heart of our efforts. We strive to reshape the trajectory of development towards shared prosperity by making multifaceted investments in sustainable infrastructure and enhancing human and institutional capacity. Through our initiatives, we aim to create an environment that fosters growth, resilience, and equitable opportunities for all.

Africa Collective: What is your organisation’s primary focus or mission?

The DBSA exists to bend the arc of history towards shared prosperity. The Bank’s mission, “Building Africa’s Prosperity,” reflects its dedication to driving inclusive growth and implementing innovative solutions that enhance socio-economic development throughout the African continent. It is a government-owned public development bank committed to fostering regional integration and economic growth through sustainable development projects and programmes in the African continent. The DBSA focuses on a wide array of sectors critical for development, including energy, information and communications technology (ICT), transport, water and sanitation, health, education, and human settlement.

The DBSA operates across the full infrastructure development value chain by planning and preparing projects, financing, as well as building and maintaining them. Besides background services such as finance, treasury, finance operations, facilities, governance, human resources, risk and legal, as well as research and strategy, the four main operational divisions are structured to implement this value chain. The Project Preparation Division is responsible for ensuring that infrastructure projects are thoroughly planned and prepared for financing and implementation. Key activities include project identification, feasibility studies, stakeholder engagement, risk assessment, and capacity building, all designed to enhance the likelihood of successful project execution.

The Coverage Division focuses on stakeholder engagement and project identification, conducting needs assessments and providing technical assistance to enhance local government capacity. This division also prioritises regional integration and market intelligence to inform deal-making. The Transacting Division manages the financing and investment activities of the DBSA, providing essential support for infrastructure projects across various sectors. Its primary functions encompass project financing, transaction structuring, partnership development, due diligence, and financial modelling. The division ensures that projects align with the Bank’s developmental goals while promoting sustainable economic growth.

The Infrastructure Delivery Division (IDD) oversees the planning and management of funded infrastructure projects, ensuring timely execution and compliance with quality standards. It works closely with stakeholders to deliver innovative solutions that address local needs and enhance project impact. The division also provides project maintenance services.

Africa Collective: How do you see your organisation as a pan-African champion?

The DBSA positions itself as a pan-African champion by implementing strategic initiatives that promote regional integration, economic growth, and sustainable development across the continent.

With its continental mandate, the DBSA provides vital funding and financial support for infrastructure projects throughout Africa, addressing critical development challenges and facilitating cross-border projects that enhance connectivity and economic collaboration. By investing in essential sectors, the Bank builds a solid foundation for sustainable growth, actively promoting renewable energy solutions and improving infrastructure to support socio-economic development.

Africa Collective: Which topics and themes related to Africa would you like to see more prominently featured on global platforms such as the World Economic Forum?

One key area is sustainable development and climate resilience, where Africa faces unique challenges and is also showcasing innovative solutions, particularly in sustainable agriculture, renewable energy, and conservation initiatives. Another is highlighting Africa’s digital transformation and technology innovation, which are crucial, especially in sectors like fintech, e-commerce, and digital health, which can drive economic growth and inclusivity across the continent. The conversation on green industrialisation using critical minerals is key for the African continent in resolving legacy deficits in manufacturing, trade, economic growth, and so on. Investment in green technologies presents opportunities for sustainable practices that can drive economic development while protecting the environment.

Another significant theme is youth empowerment and education, as Africa’s young population represents a vital driver of change and innovation. Emphasising the importance of education and skills development is essential for harnessing this potential. Closing the infrastructure development and investment gaps also warrants attention, given the critical need for improvements in transport, energy, and telecommunications to facilitate trade and economic growth. Moreover, discussions around healthcare and pandemic preparedness are increasingly relevant, particularly in strengthening healthcare systems and enhancing response capabilities.

Focusing on women’s empowerment and gender equality is vital, as it highlights initiatives that support women’s rights and economic independence. Addressing food security through innovative agricultural practices and improved supply chains is another pressing issue that deserves attention.

Furthermore, regional integration and trade efforts, such as the African Continental Free Trade Area (AfCFTA), play a pivotal role in boosting intra-African trade and fostering economic collaboration. A focus on urban development ensures that cities are able to continue hosting citizens. Finally, celebrating Africa’s rich cultural diversity and promoting its creative industries, including arts, music, and fashion, can contribute to economic growth and enhance the continent’s global influence. By spotlighting these themes, global platforms can foster a deeper understanding of Africa’s potential and the diverse opportunities available across the continent, paving the way for greater collaboration and investment.

Africa Collective: Can you share an example of a successful partnership you have been part of in Africa?

An exciting example of a successful partnership involves the DBSA and the African Development Bank (AfDB) in collaboration with the Programme for Infrastructure Development in Africa (PIDA). This initiative aims to enhance regional integration by improving infrastructure connectivity across the African continent. Through this partnership, DBSA and AfDB work together to identify and finance critical infrastructure projects in key sectors such as transport, energy, and water.

The collaboration has facilitated the development of cross-border projects, including the construction of roads, railways, and energy networks that enhance trade and investment between countries, totalling 540 projects since inception. By leveraging their combined expertise and resources, the DBSA and AfDB have successfully addressed infrastructure deficits, promoted economic development, and supported the achievement of the African Union’s Agenda 2063 goals, which focus on sustainable development and regional integration. This partnership exemplifies the impactful collaborations that can drive progress and prosperity across Africa.

Africa Collective: What has been your most inspiring experience in your work with Africa?

One of the most inspiring experiences for the DBSA is its work with Africa in the realm of community-driven development initiatives, particularly in education and health. A notable example is the DBSA’s collaboration with various non-governmental organisations (NGOs) to implement educational programmes in underserved communities. This initiative enhanced access to quality education for children in rural areas, where resources are often scarce. By partnering with local schools and educational institutions, the DBSA provided funding for infrastructure improvements, including the construction of classrooms and the provision of learning materials. The positive impact was evident, with increased school attendance rates and improved academic performance among students. Witnessing the transformation of these communities through education has been profoundly rewarding, reinforcing the DBSA’s conviction in the power of education as a tool for socio-economic upliftment.

Furthermore, the Bank’s involvement in health initiatives, such as enhancing access to healthcare services in rural regions, has proven equally inspiring. By supporting local health facilities and community health programmes, the DBSA has helped to ensure that vulnerable populations receive essential medical care. This commitment to health has not only saved lives but has also empowered communities to take charge of their health and well-being. The success stories emerging from these projects underscore the transformative potential of targeted investments in social development, motivating the DBSA to persist in its mission of driving sustainable change across Africa.

Africa Collective: What advice would you give to other leaders/organisations/companies looking to make a positive impact in Africa?

The DBSA would offer several key pieces of advice to leaders, organisations, and companies aspiring to create a positive impact in Africa. First, understanding the local context will be paramount.

Engaging with communities or working with entities that have a presence on the ground will allow leaders to gain valuable insights into specific needs, challenges, and aspirations. This approach will not only foster trust but also ensure that interventions are relevant and impactful. Building strong partnerships with local organisations, governments, and other stakeholders will amplify efforts and pool resources, leading to greater effectiveness and shared success.

Second, prioritising sustainable solutions will be essential. Initiatives should align with long-term development goals, addressing immediate needs while contributing to broader socio-economic progress. Investing in capacity building will empower local communities and focus on initiatives that can be sustained over time, creating lasting benefits. Third, embracing innovation and technology will drive transformative change. Leaders should explore how digital tools and innovative approaches can enhance service delivery, improve access to resources, and stimulate economic growth. By leveraging technology, organisations will develop scalable solutions that reach more people, fostering a positive ripple effect across communities.

Finally, a commitment to monitoring and evaluation will be vital. Establishing mechanisms to assess the effectiveness of initiatives will enable leaders to learn from successes and challenges, adapting strategies accordingly. This data-driven approach will not only enhance programmes but also demonstrate accountability to stakeholders, reinforcing trust and support. By following these principles, leaders and organisations will effectively contribute to positive change in Africa, fostering sustainable development and uplifting communities across the continent. Together, we will create a brighter future for all.

Africa Collective: What key message would you like to share about Africa’s potential and opportunities with the global community?

The DBSA would like to emphasise that Africa is a continent brimming with potential and opportunities that deserve global recognition and investment. Africa’s rich natural resources, diverse cultures, and young, dynamic population position it as a key player in the global economy. As countries across the continent strive for sustainable development, there will be immense opportunities in various sectors, including renewable energy, infrastructure development, agriculture, industrialisation and technology. The DBSA cannot overstate the significance of investing in these sectors, as they are vital for driving economic growth and improving the quality of life for millions. Africa is one of the remaining continents that will drive global growth.

The DBSA has a desire to work in partnership and collaboratively with the global community through genuine partnerships that can ensure that development initiatives are aligned with local needs and priorities, creating sustainable impacts that uplift communities. Africa’s commitment to regional integration and collaboration will ensure that collective efforts address shared challenges and unlock new avenues for growth.

The time to invest in Africa is now. By harnessing the continent’s potential and collaborating with African leaders, organisations, and communities, the global community can play a pivotal role in shaping a prosperous future. The DBSA is a partner of choice in this regard. Together, we will elevate Africa’s position on the world stage and drive transformative change that benefits all.

About the Road to Davos – Leadership Voices Series

Leading up to Africa Collective’s Davos annual series of events during the period of the World Economic Forum in Switzerland, taking place from 20-24 January 2025, Africa Collective is speaking to a collection of foremost thought and business leaders in both the private and public sectors as part of our ongoing effort to highlight opportunities in Africa. Our objective with the Road to Davos – Leadership Voices Series is to position African topics on the global stage through the lens of leaders from the continent or who lead organisations with interests in the continent.