The World Bank has appointed Victoria Kwakwa as the new World Bank Vice President for Eastern and Southern Africa, effective on July 1. Victoria Kwakwa succeeds Hafez Ghanem, who retired from the World Bank on June 30, 2022.
Originally from Ghana, Victoria Kwakwa, an economist and development expert with over 30 years of experience, will lead the Bank’s engagement with 26 countries. She will oversee an active portfolio of 313 operations totaling $58 billion and an extensive program of cutting-edge analytic work, technical assistance, and policy advice.
Under Victoria Kwakwa’s leadership, the World Bank will continue to provide vital support to countries as they face a series of complex, multifaceted challenges including the fall-out from the COVID-19 crisis, increasing climate shocks, food- and energy-fueled inflation, and rising debt levels. Her priorities include promoting private sector jobs and economic transformation, building human capital, strengthening climate resilience, agricultural productivity and food security, and improving access to critical infrastructure. Reducing the drivers of fragility and conflict, promoting gender equality and regional integration cut across all these areas of work.
Former Vice President for Corporate Strategic Initiatives
Prior to her appointment on July 1, 2022, Dr. Kwakwa served as the Vice President for Corporate Strategic Initiatives, working closely with the World Bank Managing Director of Operations and other operational and corporate units on select high priority initiatives to enhance the World Bank’s operational delivery and impact. She also served as the Vice President for East Asia Pacific from April 2016 to August 2021, where she led the Bank’s engagement with 23 member countries in the region, ranging from countries on the cusp of high income, established middle income, to lower middle-income countries: and focusing on private sector led growth, human capital development and inclusion, and sustainable and resilient development. She has also focused on deepening partnership with regional bodies such as ASEAN (The Association of Southeast Asian Nations) and with other development actors in the region.
In addition to her work in the East Asia and Pacific region, Dr. Kwakwa has extensive work experience in Africa including in Nigeria where she led the Bank’s economic work between 2001 and 2006. She was also Country Manager for Rwanda from 2007 to 2009.
Deep knowledge of Bank Group operations
Dr. Kwakwa brings to this role a deep knowledge of Bank Group operations, and strong experience working on issues related to debt and macroeconomic resilience, reforms for economic competitiveness and growth, and fiscal decentralization. She has a track record of putting people at the center of her work, listening to beneficiaries and striving for good outcomes for her clients and their citizens.
Her work has spanned a wide range of development issues including rural development, infrastructure services provision and financing, climate resilience and mitigation, developing human capital, and leveraging the potential of urbanization for development. She has built enduring partnerships with private sector, civil society and other international actors and has demonstrated her ability to mobilize these diverse stakeholders behind shared interests.
Dr. Kwakwa began her career at the World Bank as a Young Professional. She holds a bachelor’s degree in economics and statistics from the university of Ghana, and a master’s degree and PhD in economics from Queen’s University, Ontario, Canada.
