Onome Amuge
The African Development Bank (AfDB) is set for its pivotal annual meetings this week, buoyed by a remarkable increase in its financial capacity amid a leadership transition. Over the past decade, the institution’s capital has expanded by 241.9 per cent, skyrocketing from $93 billion in 2015 to $318bn in 2025, reflecting the largest financial expansion in the bank’s history.
Speaking at a breakfast meeting with journalists on Monday, Akinwumi Adesina, the outgoing AfDB president reflected on a decade at the helm that he described as both consuming and fulfilling. He further underscored the immense personal dedication demanded by a role of such scale and influence, asserting that his presidency transcended mere employment to become a mission.
“This is not a job. If anyone is looking for a job, please don’t take it. This is not a job. This is a mission,” Adesina stated. He also elaborated on the singular focus required, noting, “As my wife Grace and staff would tell you, for ten years I have had no life. Completely zero. I worked every single day. Every single step.”
Adesina’s decade has been punctuated by notable achievements, not least the successful replenishment of the African Development Fund, which secured $8.9 billion. Crucially, the Bank’s investments under his leadership are estimated to have directly benefited half a billion Africans.
The press briefing marked the official opening of the Bank’s 2025 Annual Meetings, taking place in Abidjan from May 26 to May 30. A central feature of these landmark gatherings is the election of Adesina’s successor, with the decision anticipated on May 29, 2025, at the bank’s headquarters.
Five distinguished candidates are currently vying for the top post, representing a cross-section of Africa’s financial, economic, and development expertise. They include Swazi Tshabalala from South Africa, Hott Amadou from Senegal, Samuel Munzele Maimbo from Zambia, Sidi Tah Ould from Mauritania, and Abbas Mahamat Tolli from Chad. The incoming president will inherit the mandate of driving financial inclusion, fostering economic development, and championing sustainable investments across the continent.
The Annual Meetings are projected to be the largest ever hosted by the AfDB, drawing an estimated 6,000 delegates from 91 countries. The influential gathering will convene globally renowned stakeholders, including policymakers, private sector leaders, academics, civil society representatives, development partners, amongst others.
As Adesina prepares to formally hand over the leadership reins on September 1, 2025, he offered a reassuring message to stakeholders. “Leadership may change, but the mission remains.”
Emphasising the institution’s unwavering commitment to the continent, Adesina assured that the bank’s direction is clear, its resolve strong, and its commitment to Africa’s development unshakable.
