This report summarizes the findings of the independent evaluation of the African Development Bank’s (AfDB or Bank) Country Strategy and Program in South Africa for the period 2004 to 2015. The evaluation is intended to inform the next country strategy paper (CSP) due in 2018; and to contribute to accountability and learning. To provide solid evidence for its findings, the evaluation included thorough project assessments as well as review of the broader portfolio of strategies and of non-lending activities. It answers questions about how the Bank is managing itself, what it has achieved, and the lessons learned based on what has helped or hindered performance. Finally, it proposes recommendations designed to help the Bank improve its future performance in South Africa.