Senior ANC member and former Gauteng premier David Makhura has been appointed as the chair of the Development Bank of Southern Africa (DBSA), which operates under the oversight of the minister of finance. The announcement was made on September 30, 2025.
The DBSA confirmed that the process to appoint a chair for its board has been finalised. In a statement, the bank praised Makhura’s extensive experience in strategic leadership, public policy, and stakeholder engagement, noting that his contributions have significantly enriched the board’s discussions.
Makhura, who joined the DBSA board in July after receiving cabinet approval, takes over from Martie Janse van Rensburg, who served as interim chair. His commitment to ethical governance and infrastructure-led development has laid a solid foundation for his new role.
In addition to Makhura’s appointment, Lynette Milne has been named a non-executive director, filling the vacancy left by Janse van Rensburg’s retirement. Milne is a chartered accountant with vast expertise in finance and infrastructure development, having held senior leadership roles in various institutions, including Deloitte and Eskom’s treasury.
The DBSA’s board also includes ANC veteran Joel Netshitenzhe, appointed at the end of 2023, and Kenneth Brown, the former chief procurement officer at the National Treasury, who serves as a shareholder representative.
Makhura served two terms as Gauteng premier from 2014 until October 2022, when he was succeeded by Panyaza Lesufi. He has also held the position of ANC provincial chair from July 2018 to June 2022 and is a member of the ANC’s national executive committee.
The South African cabinet has a history of appointing senior ANC figures to key positions in state-owned institutions, as demonstrated by recent appointments to the Industrial Development Corporation (IDC).