The African Development Bank Group (AfDB) has entered a new chapter as Dr. Akinwumi Adesina stepped down after 10 years at the helm, handing over leadership to Mauritanian economist Dr. Sidi Ould Tah, who was sworn in on Tuesday as the Bank’s 9th President.
The handover ceremony in Abidjan was attended by ministers of finance and central bank governors from the Bank’s 81 member countries, with Ludovic Ngatsé of the Republic of Congo, Chair of the Board of Governors, presiding over the event. The occasion was described as not just a leadership change, but a moment of continuity, renewal, and resilience for Africa’s foremost development finance institution.
In an emotional farewell, Adesina reflected on his tenure:
“Serving as President of the African Development Bank has been the greatest honor and privilege of my professional career. Ten years ago, we embarked on a journey together, a journey of transformative growth for our Bank and for our continent.”
Under his leadership, AfDB’s capital base expanded from $93 billion to $318 billion, and its projects reached more than 565 million Africans. Through the Bank’s High 5 priorities: Light Up and Power Africa, Feed Africa, Industrialize Africa, Integrate Africa, and Improve the Quality of Life for the People of Africa, the institution delivered impact in electricity, food security, healthcare, transport, and access to clean water.
Adesina also strengthened AfDB’s institutional standing, maintaining its triple-A credit rating and scaling up infrastructure financing beyond $55 billion. He played a pivotal role in advancing regional integration, with the Bank providing critical support to the African Continental Free Trade Area.
Dr. Tah, elected in May with 76.18% of votes from the Bank’s governors, assumes leadership at a symbolic moment, he was born in 1964, the same year AfDB was founded. A seasoned development economist, he pledged to build on Adesina’s legacy while steering the Bank into a new era.
“I commit to strengthening the foundations laid by Dr. Adesina and to lead this institution with innovation, inclusivity, and a focus on economic transformation for Africa,” Tah said at his swearing-in.
The transition underscores the Bank’s hallmark of seamless leadership succession. For Adesina, it marks the close of an extraordinary journey; for Tah, the beginning of a new mandate defined by high expectations.
Together, both moments reinforce AfDB’s enduring role as Africa’s engine of growth and a beacon of hope for the continent’s development future.
