The African Development Bank Group (AfDB) yesterday witnessed a historic transition of leadership as Dr Akinwumi Adesina stepped down after 10 years at the helm, handing over to Mauritanian economist Dr Sidi Ould Tah, the institution’s 9th President.
The swearing-in ceremony, held at the Bank’s headquarters in Abidjan, Côte d’Ivoire, was attended by finance ministers and central bank governors from its 81 member states. Presiding over the event was Ludovic Ngatsé, Chair of the Board of Governors and Congo’s Minister of Finance.
For many, the event marked more than a routine change of leadership. It underscored continuity, renewal, and the resilience of Africa’s foremost development finance institution.
Adesina, visibly emotional in his farewell remarks, described his tenure as “the greatest honour and privilege” of his professional career.
“Ten years ago, we embarked on a journey together—a journey of transformative growth for our Bank and for our continent,” he said.
Under his stewardship, AfDB’s capital base grew from $93 billion to $318 billion, while its programmes reached more than 565 million people across Africa. The Bank’s “High 5” strategic priorities—Light Up and Power Africa, Feed Africa, Industrialise Africa, Integrate Africa, and Improve the Quality of Life for the People of Africa—became a continental blueprint for inclusive growth.
The impact was wide-ranging: powering homes and industries, boosting agricultural output, enhancing healthcare, opening trade corridors, and expanding access to clean water. The Bank also strengthened Africa’s economic integration by supporting the African Continental Free Trade Area.
Adesina leaves behind an institution that not only scaled up infrastructure financing—exceeding $55 billion—but also preserved its coveted triple-A credit rating, bolstering its standing as one of the most trusted development financiers globally.
As the mantle passes to Dr Tah, stakeholders expressed optimism that the AfDB will sustain its momentum and continue shaping Africa’s development trajectory in the years ahead.
