IFI governance


South Africa gains the extra seat on World Bank board

29 November 2010

Renosi Mokate, former deputy governor of the South African Reserve Bank, has been elected to the World Bank’s board of executive directors. Her appointment takes the total of Sub-Saharan African seats on the board up to three, finally meeting a 2008 commitment. The Bank claims that this creates a developing country majority on the board and is an important milestone in efforts to boost their representation. However, this assertion is based on the incorrect classification of the high-income countries of Kuwait and Saudi Arabia as developing. High-income countries in fact retain 14 seats, and 60 per cent of the vote (see Update 70).