Mauritania’s former economy minister, Dr Sidi Ould Tah, has been elected President of the African Development Bank (AfDB), succeeding Nigeria’s Akinwumi Adesina. Tah, 60, secured the role after three rounds of voting with 76.18% of the vote, meeting the required majority from both the 81 member countries and the 54 African nations within the group. His closest rival, Zambian economist Samuel Munzele Maimbo, garnered just over 20%, while Senegal’s Amadou Hott received 3.55%.
Tah brings a decade of experience as head of the Arab Bank for Economic Development in Africa (BADEA), a background seen as crucial in bridging North and sub-Saharan Africa. His election comes at a critical time for the bank, which is grappling with a shifting global financial landscape, including a potential loss of $500 million in US funding under new Trump administration policies.
Also Read: Cape Verde Qualify For AFCON Quarter-Finals After Beating Mauritania 1-Nil
In his campaign, Tah pledged to strengthen regional financial institutions, boost Africa’s presence in global markets, and use demographic growth as an economic driver. He also committed to building infrastructure resilient to climate change. The AfDB, established in 1964, is one of the world’s largest multilateral lenders, drawing funds from member contributions, global market borrowing, and loan repayments.
Tah takes over from Adesina, who led the bank for a decade and oversaw its capital expansion from $93 billion to $318 billion. Under Adesina’s tenure, over 560 million people benefited from AfDB-backed projects, including Africa’s largest wastewater plant in Egypt, the Senegambia Bridge, and power projects in Kenya. Adesina highlighted these accomplishments as part of his legacy and expressed confidence in Tah’s ability to lead the bank into its next chapter.
Leave feedback about this
You must be logged in to post a comment.