Uganda-born Kabagambe was with the World Bank for four years until October, and previously spent 27 years at the African Development Bank.
She has an undergraduate degree from the University of California at San Diego, master's degrees in public policy from Columbia University's School of International and Public Affairs and George Washington University, and also obtained post-graduate diplomas from Harvard University's John F. Kennedy School of Government and the Cranfield School of Management.
Barrick executive chairman John Thornton said Kabagambe would strengthen the board and bring an independent understanding of doing business internationally, informed by her experience in engaging with governments, the private sector and civil society and in particular her knowledge of the global resource, banking and education sectors.
Kabagambe joins Chilean Loreto Silva, who was appointed in August 2019, as the two women on the gold miner's 10-person board.
Canada-headquartered Barrick will release its third quarter results later today.
Its shares are trading near the upper end of a one-year range, closing at C$35.68 in Toronto yesterday to capitalise it at $63.4 billion (US$48 billion).