WASHINGTON D.C (16 October 2026): Former Eswatini Government chief economist and one of the architects of the Kingdom’s development vision, Lonkhululeko ´Lonki’ Magagula has ascended to become Executive Director for the Africa Group 1 at the World Bank.
Ms Magagula who moves into office for a two-year term that runs from 1 November 2026 to 31 October 2028, becomes the second Swazi to hold this level position in the global public finance architecture. She follows the steps of Former Prime Minister Barnabas Sibusiso Dlamini, who rose as minister of finance to become Executive Director of the International Monetary Fund (IMF) from 1992 to 1996.
The appointment marks a significant milestone in Ms. Magagula’s distinguished public service career and reflects Eswatini’s contribution to multilateral development cooperation. Her new role will see her serve a constituency representing 22 member countries, providing an important platform for advancing shared development priorities and strengthening African representation in global development financing.
As a leading national economist, Ms. Magagula co-authored the 1997 National Development Strategy (Vision 2022) and its implementation framework, the Poverty Reduction Strategy and Action Plan (PRSAP) among other significant other planning policy documents.
She joined the World Bank Group in 2017 following a 5-year stint as Chief Economist at the Ministry of Economic Planning and Development.
The World Bank Group which announced her appointment yesterday (15 November 2026) says Ms Magagula brings more than three decades of experience in public service and multilateral engagement, with extensive expertise in economic policy, development planning, public finance and policy reform.
Her appointment follows years of dedicated service within the Africa Group 1 Constituency at the World Bank Group. She served as Adviser from November 2017 to May 2020, Senior Adviser from May 2020 to October 2024, and Alternate Executive Director from November 2024 to October 2026. This progression reflects her long-standing involvement in the constituency’s work and her familiarity with the World Bank Group’s operations and development mandate.
Before joining the World Bank Group, Ms. Magagula served in various capacities within the Government of the Kingdom of Eswatini, including as Chief Economist in the Ministry of Economic Planning and Development from 2012 to 2017.
During her tenure as Chief Economist, she also co-authored the 2016 Economic Recovery Strategy, contributing to national efforts aimed at strengthening economic recovery, building resilience and promoting sustainable development.
Her academic background includes a Master of Arts in Development Economics and a Postgraduate Diploma in Development Economics from the University of East Anglia in the United Kingdom. She also holds a Bachelor of Arts in Social Science, majoring in Economics and Statistics, from the University of Eswatini.
The World Bank Group says her appointment comes at a critical time for African economies, as countries continue to pursue stronger development partnerships, improved access to development financing and inclusive, sustainable economic transformation.
Through her new responsibilities, Ms. Magagula (born Dlamini) will serve within a multilateral institution that plays a significant role in financing development initiatives and supporting economic and social progress across member countries.
Jm/today/16.10.2026