President Of The African Development Bank (AfDB)
Wila Mung'omba was the first President to be voted from the Southern African Region to be President of the African Development Bank. His tenure at the bank was from 1980-1985. As 'Monsieur Le President' as he was referred to, he succeeded as a leader in creating a formidable legacy for future generations to build on. A few are mentioned here:
Wila Mung'omba's leadership achievements and milestones, as President:
1. He was the President to invite NON regional subscribers to become members of the ADB.
He invited for example, the USA and President Reagan accepted. This moved the bank's capital position from under usd 1bn to over 8bn within five years and today it is in excess of 20bn and growing.
2. President Mung'omba increased the bank's net income from less than USD 2m in '78 to USD 75 million by the end of his tenure in '85.
3. For the first time due to WIla's leadership strategy, the ADB was awarded "AAA" rating by Fitch and "AA" by Standard and Poors and Moody - ( the famous sovreign rating agencies in New York).
4. Because of point (3) he was the first CEO of the ADB to take the bank to the world's Int'l financial markets.
5. He secured a USD 100,000,000 C.D. facility 1982-89 for the ADB with Merrill Lynch Int'l and the Sumitomo Trust & Banking Co Ltd.
President Mung'omba's formidable leadership achievements go on and on. Wila received numerous leadership merit awards of which he was proud of the Gwanchwa Medal from Korea where he was recognised for fostering meaningful relationships between the ADB and Korea.
Wila Mung'omba's legacy leadership skills as President:
1. Building of partnerships and fostering of real relationships.
WIla Mung'omba really understand the value of creating harmonous relationships.
2. Setting of specific transformative and legacy goals.
He dreamt BIG and envisaged the BEST and then implemented in a committed way, to achieve specific legacy goals.
3. Committing 'alot' of dedicated time to understand the real needs of stakeholders.
Wila Mung'omba always dug deep to get buy in and to understand what truly motivated people.
4. Serving with humility and leading with integrity and excellence.
He did not tolerate any type of corruption.
5. Cherishing his support system.
Wila Mung'omba knew that formidable success is based on a committed and loyal support system.