There are high expectations among stakeholders and shareholders of the African Development Bank Group (AfDB) following the election of Sidi Ould Tah of Mauritania as the new President of the group at the Bank’s Annual Meetings held in Abidjan, Côte d’Ivoire.
Tah is expected to succeed Nigeria’s Akinwunmi Adesina, whose tenure elapses by the end of August. Adesina served two terms of 10 years in the pan-African financial institution.
Tah was elected by the Bank’s Board of Governors, comprising Finance and Economy Ministers or Central Bank Governors of the Bank Group’s 81 regional and non-regional member countries. The board is the highest decision-making authority for the Bank Group.
The results were announced by Niale Kaba, Minister of Planning and Development for Côte d’Ivoire, and Chairman of the Board of Governors of the Bank Group.
According to the rule of the bank, the winning candidate is required to obtain at least 50.01% of both the regional and non-regional votes.
Tah defeated four other candidates, including Amadou Hott (Senegal), Samuel Maimbo (Zambia), Mahamat Abbas Tolli (Chad), and Bajabulile Swazi Tshabalala (South Africa).
A Mauritanian national, Tah brings over 35 years of experience in African and international finance. He served as President of the Arab Bank for Economic Development in Africa (BADEA) for 10 years from 2015, where he led a full transformation that quadrupled the bank’s balance sheet, secured a AAA rating, and positioned it among the top-rated development banks focused on Africa.
A former Minister of Economic Affairs and Finance of Mauritania, Tah has held senior roles in multilateral institutions and has led crisis response, financial reform, and innovative resource mobilisation for Africa, including the establishment of BADEA’s $1 billion callable capital program for African MDBs.
The Board of Governors Steering Committee received and approved a total of five candidates by the closing date of 31 January 2025. The list of candidates was officially announced on 21 February 2025.
Tah will assume office on 1 September 2025, for a five-year term, following the end of the second mandate of the current President, Dr. Akinwumi Adesina.
According to the bank, the election of a new president came at a crucial time in the Bank Group’s six decades of existence.
Africa has remained resilient despite climate shocks, economic disruption, and a shifting geopolitical landscape, but needs to move faster or risk falling behind on delivering on the African Union’s Agenda 2063 and the Sustainable Development Goals, summed up in the Bank Group’s High 5’s.
The election of the new president was the major highlight of the 2025 Annual Meetings of the bank, which commenced on May 26 to 30 in Abidjan, Côte d’Ivoire, under the theme “Making Africa’s Capital Work Better for Africa’s Development.”
The African Development Bank Group comprises three entities: the African Development Bank, the African Development Fund and the Nigeria Trust Fund. Its shareholder countries include 54 African countries or regional member countries, and 27 non-African countries or non-regional member countries.
Expectations as the Group awaits change of baton
The African Development Bank Group, established in 196,4, has been playing a pivotal role in championing Africa’s development agenda since its formation.
Amidst the mounting and daunting developmental challenges confronting Africa, the bank under the outgoing President and Nigeria’s one time Minister of Agriculture, Akinwunmi Adesina, has been able to raise its capital from $93 billion in 2015 to $318 billion in 2025, representing a 241.9% increase.
Akinwunmi Adesina had described his tenure as both consuming and profoundly fulfilling, saying it requires absolute commitment to lead an institution of such scale and influence.
“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,” he had stated.
But with the leadership mantle falling on Tah, stakeholders expect the Mauritanian man to build and expand on the achievements of the predecessor to impact more lives in Africa.
An economist, Dr. Marcel Okeke, said, “The institution itself has made impact, and whoever gets there is just to hold the steering and keep moving.
“The outgoing chief executive has lifted the profile and the impact of that institution, and whoever is coming has to sustain the tempo somehow. AfDB has had a lot of impact, and I believe whoever is coming to take the position of CEO must be coming with a pedigree, meaning that he must have gathered some relevant experiences and so on.
“He should just hold the steering wheel and keep going. I know there was a lot of politics that goes into selecting the CEO, but once the person is chosen, he has to function as a technocrat and expert.”
What’s in it for Nigeria?
Nigeria remains the largest shareholder in the AfDB, holding approximately 8.20% of the total shareholding. This translates to nearly 9% of the voting power within the AfDB.
The Bank recently approved a $500m loan for Nigeria to boost electricity generation while also providing other support and intervention for the country in different sectors.
Okeke stated that Nigeria, as a key stakeholder, would remain a force to be reckoned with, irrespective of who is the president.
“Nigeria is a key stakeholder and because of that, rather than do anything that would be against our interest, whoever is there would do everything to protect our interest. We are a major stakeholder and shareholder and the outgoing CEO, being a Nigerian and an expert, has done a lot not only for Nigeria but for many countries in the African continent. The partnership is already established,” he added.
The Chief Economic Strategist in ECOWAS Commission, Prof. Ken Ife noted that Nigeria is in a pole position to gain from the emergence of Mauritania’s former Economy Minister.
“You know Nigeria is one of the major stakeholders and have been fully involved in construction and funding of the Bank, so it puts the country in pole position to gain from some of the reforms that Tah will put forward
“Don’t forget that we have also benefited immensely from the 10 years of Akinwunmi Adesina and the new President is also a competent man that has led the Arab development Bank for Almost a decade.
“It is being a while North Africa held the position as the west and south have enjoyed it over the years so I believe the man is ready to work and Nigeria will stand to gain a lot.”
I am ready for the work – Tah
The newly elected president, in his acceptance speech, thanked the African continent for the trust reposed in him.
He promised to work to further lift the standard of the banking group.
He said, “I would first like to thank Africa for the trust it has just placed in me.
I thank you, governors, regional and non-regional members, for your support. I am fully aware of the responsibility and duty that come with this position.
“I would particularly like to thank my country and its leader, President Mohamed Ould Ghazouani, who supported my candidacy and worked tirelessly to achieve the outcome we have just witnessed.
“I thank all my Mauritanian sisters and brothers, and all my African sisters and brothers, for the outpouring of solidarity that accompanied my campaign.
“A special mention must also go to my team, who did a remarkable job from start to finish. I would like to express my deep gratitude to them.
“I also want to thank all those who supported my candidacy, directly or indirectly, whom I cannot name individually in these circumstances. The work begins now, and I am ready.”
What future for Adesina?
Adesina was rated by all metrics as an outstanding technocrat and expert who raised the bar and profile of the AfDB in its 10 years of service in the continental financial institution.
With less than two months remaining in the saddle, the question on the mind of his admirers and even stakeholders in Nigeria remains what would be his next step.
Adesina had recently stated that he is ready to serve his home country Nigeria in higher capacity.
He said, “Look, the only thing that makes me happy is nothing else than seeing the lives of people transform. That is what gives me satisfaction. As a result, I will be available to serve in any capacity, globally, in Africa, anywhere, including my own country.”
Tinubu congratulates Mauritania President on election of Sidi Ould Tah as AfDB president
Meanwhile, President Bola Ahmed Tinubu has congratulated President Mohamed Ould Cheikh El Ghazouani of Mauritania on the election of Dr Sidi Ould Tah as the ninth President of the African Development Bank (AfDB) Group.
In a telephone conversation from Lagos with the Mauritanian leader on Thursday afternoon, after Tah’s election at the AfDB’s Annual Meetings in Abidjan, Côte d’Ivoire, President Tinubu commended the transparent process that led to the emergence of the former Mauritanian Finance Minister.
President Tinubu believed that Dr Tah would bring a wealth of experience to the role, given his track record in former positions.
President Tinubu reaffirmed Nigeria’s strong partnership with the AfDB, emphasising its status as the institution’s largest shareholder among its member countries, comprising 54 African nations and 27 non-African states.
The President restated his commitment to working closely with the incoming AfDB president to advance shared priorities, including infrastructure development, agricultural transformation, energy access, and climate resilience.
Nigeria recently approved a $500 million capital replenishment for the Nigeria Trust Fund (NTF) in May 2025, extending the fund’s operations by another 15 years.
Established in 1976, the NTF is a special AfDB fund fully financed by Nigeria to support development projects across Africa.
This renewed commitment underscores Nigeria’s continued dedication to the Bank’s mission of driving inclusive growth and poverty reduction on the continent.
President Tinubu pledged Nigeria’s full support for Mr. Tah in implementing his vision for the institution, including strengthening regional financial institutions, promoting Africa’s economic independence, leveraging population growth for development, and building climate-resilient infrastructure.
President Tinubu thanked the outgoing President, Dr Adesina, and wished him success in his future endeavours.
Buhari congratulates Adesina
Similarly, Former President Muhammadu Buhari has congratulated Dr. Akinwumi Adesina on the successful completion of his two terms as Managing Director of the African Development Bank, AfDB.
The former president, in a statement, stated that he is happy with the “Enormous success achieved by Adesina at the end of his tenure.”
Buhari, who disclosed that he is very glad to have supported Adesina’s emergence as the helmsman of the bank in the first and second instances, noted that the outgoing MD put up a spectacular performance during his tenure.
He said, “I have seen Dr. Adesina, a son of Nigeria, put up a spectacular performance in the African Development Bank after two terms. As his tenure ends and a successor is emerging, records show that he has set such a great, unmatched record of excellence, leaving shareholders far happier than they had ever been. I am happy with the role I played in bringing his talent forward.”
The former president emphasised how hard work, discipline and dedicated training made Dr. Adesina what he is today, saying that the outgoing AfDB president “Is blessed with a special talent, combined with hope, faith, a firm resolve and confidence, with which he overcame all odds to stand out as a beacon of inspiration to others.”
Buhari also wished Adesina more strength and success in his future endeavours.(Daily Trust)
