By Nangamso Mabindla
27 June 2006

BUFFALO City has said farewell to a prominent local business leader – the outgoing chief executive of the Development Bank of Southern Africa (DBSA), Mandla Gantsho.

A function held in Gantsho's honour in East London on 26 June was attended by City officials, members of the business world and representatives from the provincial government, including the MEC for social development Noxolo Xasa and the speaker Noxolo Kiviet.

Speaking at the function, Buffalo City's acting city manager Brian Shepherd said Gantsho – who had been in the post for five years – had been the driving force behind the bank's involvement in financing local government.

"The DBSA came to local government's aid by financing our institutions when no-one else was interested. In his tenure, Mr Gantsho became involved in assisting developmental local government to achieve some of its objectives," said Shepherd.

The City was on the verge of signing a big deal with the DBSA, due to the efforts of the outgoing chief executive, Shepherd added.

Xasa, representing Premier Nosimo Balindlela, said the province was happy to have been partners with the DBSA in improving the lives of the people.

"We would like to thank the outgoing CE for directing the bank towards community development; this has really helped us to improve the lives of our people," she said

One such effort was the Mbewuleni project in Idutywa, Transkei, where the bank donated R800 000 to improving the lives of children in the community.

Gantsho, who has been hosted by municipalities around the country, said he hoped that the DBSA would continue to play a developmental role in the country, especially in a province like the Eastern Cape.

"The bank has been a leading agent for change in socio-economic development. We have approved R300-million worth of loans for the province," said Gantsho.

The bank also approved over R40-million in grants for capacity-building projects. "We also gave grants for disaster relief projects and have been involved in educational projects; I hope that the bank continues to play a developmental role and assist in changing the lives of people living in the Eastern Cape," added Gantsho.