Donald Kaberuka is a Rwandan economist, former president of the African Development Bank (AfDB), and global advocate for sustainable development. Kaberuka’s career is a testament to resilience, vision, and an unwavering commitment to Africa’s progress. From rebuilding Rwanda’s economy post-genocide to steering the AfDB through global crises, his journey reflects a rare blend of intellectual rigor and pragmatic leadership.
Born on October 5, 1951, in Byumba, Rwanda, Donald P. Kaberuka grew up in a nation marked by complexity and, later, tragedy. His academic path took him from the University of Dar es Salaam in Tanzania, where he pursued undergraduate studies, to the University of East Anglia in the UK for an MPhil in Development Studies, culminating with a PhD in Economics from the University of Glasgow. This robust education laid the groundwork for a career that would span banking, international trade, and public service.
Kaberuka’s early professional years were spent in the private sector, including a stint as Chief Economist of the Inter-African Coffee Organization. Yet, it was his appointment as Rwanda’s Minister of Finance and Economic Planning in 1997 that marked his transformative entry into public life. Taking the helm three years after the 1994 genocide, he faced the Herculean task of stabilizing a shattered economy. Over eight years, Kaberuka implemented sweeping reforms in fiscal policy, monetary systems, and governance, fostering economic growth and restoring Rwanda’s credibility on the global stage. His tenure is widely credited with laying the foundation for the country’s remarkable recovery.
In 2005, Kaberuka’s expertise and reputation propelled him to the presidency of the African Development Bank, a role he held until 2015. Elected over Nigeria’s Olabisi Ogunjobi, he succeeded Morocco’s Omar Kabbaj and embarked on a mission to revitalize the institution. Under his leadership, the AfDB’s capital tripled from $30 billion to $100 billion, and its portfolio doubled, amplifying its capacity to fund transformative projects across 54 member states.
Kaberuka’s tenure was defined by a “big push” on infrastructure—roads, energy, and transport systems—that spurred regional integration and economic growth. He championed private sector development, recognizing it as a catalyst for job creation and innovation. During the 2008 global financial crisis, his countercyclical measures shielded African economies, earning him praise as a steady hand in turbulent times. He also prioritized inclusivity, establishing a facility for conflict-affected states and appointing a high-level panel on fragile states chaired by Liberia’s Ellen Johnson Sirleaf.
His strategic vision culminated in a 10-year plan (2013–2022) focused on economic transformation and inclusion, a blueprint handed over to his successor, Akinwumi Adesina, in 2015. Kaberuka’s leadership not only restored the AfDB’s financial standing but also cemented its role as Africa’s premier development institution.
Since leaving the AfDB, Kaberuka remained a towering figure in global development. As the African Union’s High Representative for the Peace Fund, he has mobilized resources to address conflict and instability. His role as Board Chair of the Global Fund to Fight AIDS, Tuberculosis, and Malaria, beginning in 2019, saw him lead efforts to raise $14 billion annually, saving millions of lives worldwide. He has also served as a senior advisor to Boston Consulting Group, co-founded SouthBridge—a Pan-African advisory and investment firm—and sat on boards including the Rockefeller Foundation, Mo Ibrahim Foundation, and Center for Global Development.
Kaberuka’s intellectual contributions extend to initiatives like the LSE-Oxford Commission on State Fragility, Growth, and Development, co-chaired with David Cameron, and the UN’s High-Level Panel on Internal Displacement with Federica Mogherini. His speeches and writings, often emphasizing resilience and structural reform, continue to inspire policymakers and citizens alike.
A lover of classical music and wildlife conservation, Kaberuka balances his public life with personal passions. His philosophy of shared success—rooted in his Rwandan upbringing and honed through decades of service—offers a timeless lesson: true progress is a team endeavor.
From the ashes of Rwanda’s past to the boardrooms of global finance, Donald Kaberuka has built a legacy not of individual triumph, but of lifting a continent toward prosperity. In an era of uncertainty, his story is a reminder that vision, coupled with action, can reshape destinies.
