Leadership Transition at the African Development Bank

The African Development Bank (AfDB), a pivotal financial institution in Africa, is preparing for a leadership transition as the election for its next president approaches. Scheduled for May 29, the election will determine who will succeed Dr. Akinwumi Adesina, the current president, who is set to conclude his second term on August 31, 2025.

Under Dr. Adesina's leadership, the AfDB has focused on fostering economic and social development across the continent. He has championed stability in African economies, even amidst global challenges such as inflation, rising debt, and climate change. Dr. Adesina's tenure has seen Africa emerge as a resilient economic player, with eleven out of the twenty fastest-growing economies globally last year originating from the continent. However, he acknowledges the ongoing challenges that necessitate innovative solutions, particularly in providing concessional financing to countries still recovering from the impacts of the COVID-19 pandemic.

Five candidates are vying to take the helm of the AfDB, each presenting distinct visions for the future. Amadou Hott from Senegal, a former Minister of Economy, Planning and Cooperation, emphasizes the need for increased investment in education and skills development to create job opportunities for the continent's youth. He argues that addressing the employment crisis is vital for economic growth.

Dr. Samuel Munzele Maimbo of Zambia, currently a Vice President at the World Bank, aims to secure the financial support necessary for governments to navigate complex economic environments. He highlights the importance of accelerating economic growth through effective financing strategies.

Chad's Abbas Mahamat Tolli, an economist and former Governor of the Bank of Central African States, advocates for diversifying African economies and enhancing revenue generation through investments in renewable energy and infrastructure.

Sidi Ould Tah from Mauritania, a former President of the Arab Bank for Economic Development in Africa, focuses on harnessing the continent's youthful demographic and investing in agriculture to drive economic prosperity. He stresses the importance of transforming natural resources into substantial revenue sources.

Bajabulile Swazi Tshabalala, the only female candidate and a former Senior Vice President of the AfDB, aims to boost productivity and enhance infrastructure, which she believes is essential for job creation and industrialization in Africa.

The upcoming election at the AfDB will take place during the institution's 2025 Annual Meeting in Abidjan, Côte d'Ivoire, where the focus will be on selecting a candidate capable of advancing the bank's agenda effectively.

Dr. Adesina has highlighted the need for the next leadership to address the impacts of climate change on African economies, which are disproportionately affected despite contributing minimally to the crisis. The AfDB's ongoing mission includes providing loans, grants, and technical assistance to support development initiatives aimed at reducing poverty and fostering sustainable growth across Africa.