AfDB Gathers in Abidjan Amid Leadership Transition and Strategic Refocus

This week, the Ivorian economic capital is hosting the Annual Meetings of the African Development Bank (AfDB), an event marked by transition and strategic reflection. It was at the prestigious Sofitel Hôtel Ivoire that Akinwumi Adesina, outgoing President of the AfDB, presented an assessment of his ten years at the helm of the pan-African institution.

Before an audience of heads of state, ministers, heads of financial institutions, and development partners, the Nigerian highlighted the results of his signature “High 5s” program: electrify, feed, industrialize, integrate Africa, and improve the quality of life of Africans. According to Mr. Adesina, these initiatives have impacted more than 565 million people on the continent. “Our vision was simple: to make the AfDB a more efficient bank, closer to its member states, more agile, and more ambitious for Africa,” he said.

Under the theme “Making the Most of Africa’s Capital to Promote its Development,” these meetings take place in a context of scarce international funding, the gradual withdrawal of certain historical partners such as the United States, and growing geopolitical instability. For Nialé Kaba, Ivorian Minister of Planning, the message is clear: we must now focus on the continent’s own resources—its human, natural, and cultural capital.

President Alassane Ouattara praised Adesina’s work, calling him the architect of the AfDB’s transformation, while calling for strategic continuity. “The next president must continue and accelerate the momentum created to keep the AfDB at the heart of the continent’s socio-economic development,” he said.

Five candidates are in the running to succeed Akinwumi Adesina: Amadou Hott (Senegal), Sidi Ould Tah (Mauritania), Samuel Munzele Maimbo (Zambia), Mahamat Abbas Tolli (Chad), and Bajabulile Swazi Tshabalala (South Africa). The name of the new president is expected to be revealed after the assemblies, but he will not take office until September 2025.

AfDB Reflects on a Decade of Progress as New Leadership Prepares to Tackle Africa’s Development Challenges

It is worth noting that the AfDB has undergone a profound transformation since 2015 under Adesina’s leadership, strengthening its role as a driver of African development and its ability to respond to health and geopolitical crises. He has advocated for reform of the global financial architecture and increased resource mobilization for the continent.

Nevertheless, challenges remain: persistent poverty (nearly 700 million Africans affected), the impacts of climate change, the need for economic diversification and strengthening financial resilience.

More than ever, the AfDB is called upon to play a role as a catalyst for innovation and sovereignty. In a world marked by economic fragmentation and rising protectionist tensions, the future president will need to increase the institution’s influence in international forums, develop its capacity to mobilize resources, and demonstrate agility in the face of climate and economic emergencies.

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(Featured image by Sunday Abegunde via Unsplash)

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First published in Financial Afrik. A third-party contributor translated and adapted the article from the original. In case of discrepancy, the original will prevail.

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