African Development Bank Group Elects New President Amid High Expectations

Strategic Insights -

The African Development Bank Group (AfDB) has elected Sidi Ould Tah of Mauritania as its new President, succeeding Nigeria's Akinwunmi Adesina, whose tenure ends in August. Tah, who brings over 35 years of experience in African and international finance, was elected by the Bank's Board of Governors, comprising Finance and Economy Ministers or Central Bank Governors of the Bank Group's 81 regional and non-regional member countries. The election came at a crucial time for the Bank Group, which needs to move faster to deliver on the African Union's Agenda 2063 and the Sustainable Development Goals.

Key Takeaways:

  • Sidi Ould Tah of Mauritania has been elected as the new President of the African Development Bank Group, succeeding Akinwunmi Adesina.
  • Tah brings over 35 years of experience in African and international finance, having served as President of the Arab Bank for Economic Development in Africa (BADEA) for 10 years.
  • The election of the new president comes at a crucial time for the Bank Group, which needs to move faster to deliver on the African Union's Agenda 2063 and the Sustainable Development Goals.
  • Nigeria's Akinwunmi Adesina has served two terms as President, raising the Bank's capital from $93 billion in 2015 to $318 billion in 2025.
  • Tah will assume office on 1 September 2025, for a five-year term, following the end of the second mandate of the current President, Dr. Akinwumi Adesina.
  • The African Development Bank Group comprises three entities: the African Development Bank, the African Development Fund, and the Nigeria Trust Fund.
  • Nigeria remains the largest shareholder in the AfDB, holding approximately 8.20% of the total shareholding and nearly 9% of the voting power.
  • The Bank has recently approved a $500m loan for Nigeria to boost electricity generation and provide support in different sectors.

Statistics:

  • $318 billion: The Bank's capital as of 2025, a 241.9% increase from $93 billion in 2015.
  • 10 years: The duration of Akinwunmi Adesina's presidency, during which he raised the Bank's capital and transformed it into a top-rated development bank.
  • $1 billion: The amount of BADEA's callable capital program for African MDBs, established by Sidi Ould Tah during his tenure as President.
  • 5 years: The term of Sidi Ould Tah's presidency, starting from 1 September 2025.
  • 54: The number of African countries or regional member countries that are shareholders of the AfDB.
  • 27: The number of non-African countries or non-regional member countries that are shareholders of the AfDB.

Sources:

  • "African Development Bank Group Elects New President Amid High Expectations" (Source not explicitly provided)
  • "AfDB approves $500m loan for Nigeria to boost electricity generation" (Source not explicitly provided)
  • "African Development Bank Group Annual Meetings 2025: Summary and Key Takeaways" (Source not explicitly provided)