AfDB

In a world where development is often stymied by bureaucratic inertia, Sidi Ould Tah, the former Finance Minister of Mauritania, stands at the precipice of change. As he sets his sights on the presidency of the African Development Bank (AfDB), his vision for reform promises not just a shift in policy but a fundamental evolution in how the institution operates. Tah's aspirations will take center stage during the upcoming Board of Governors meeting in Abidjan, where critical decisions affecting the financial landscape of the…

Nigeria’s Five-Year Vision: A New Era of Economic Growth The board of directors at the African Development Bank has made a landmark decision by approving the Country Strategy Paper for Nigeria, which will outline the strategic priorities for the years 2025 to 2030. This five-year plan is not just a document; it is a blueprint for transformative change, aimed at enhancing economic resilience and fostering widespread prosperity in Nigeria. As articulated on the bank's official website, the initiative is designed “to drive…

As anticipation mounts for the upcoming election to lead the African Development Bank (AfDB) on May 29, 2025, five distinguished candidates are stepping into the spotlight, each eager to share their distinctive visions for steering the institution toward a brighter future. With current president Dr. Akinwumi Adesina set to conclude his two-term tenure on August 31, 2025, the stakes couldn't be higher. Adesina has championed social and economic development across the continent during his leadership, leaving a profound impact…

Enhancing Africa's Economic Landscape: Insights from AfDB President Dr. Akinwumi Adesina In a recent statement via social media platform X, Dr. Akinwumi Adesina, President of the African Development Bank (AfDB), captured the essence of Africa's economic dilemma with a poignant observation: “The export of raw materials is the door to poverty. The export of value-added products is the highway to wealth.” This simple yet profound assertion encapsulates a significant challenge facing African nations today. Consider the…

"Africa is fatigued from existing in the shadows. We must illuminate the continent—no exceptions." These compelling words resonated from Akinwumi Adesina in September 2016, mere months after he took on the formidable role as President of the African Development Bank Group (AfDB Group). He underscored a crucial issue: electrification on the continent is not merely a luxury; it’s an imperative. Imagine, if you will, a vast expanse of land where cities pulsate with vibrant energy while remote villages grope in darkness.…

In a significant step forward for infrastructure and economic development in Ethiopia, a memorandum of understanding was signed for the ambitious Bishoftu International Airport Development Project. This collaboration marks a new chapter, not just for Ethiopian connectivity but for the entire African aviation landscape. The ceremony was graced by the presence of Mr. Mesfin Tasew, the visionary CEO of Ethiopian Airlines Group, and the insightful Mrs. Nnenna Nwabufo, Vice President for Regional Development,…

A quiet Tuesday afternoon turned significant when the African Development Bank (AfDB) broke the news that the list of candidates for the presidency had been finalized. The esteemed Steering Committee, after an arduous evaluation process, has endorsed a select group, ushering them closer to the coveted position. Is the race more about continuity or change? The contenders themselves reflect a tapestry of aspirations, visions waiting to be realized. It's a poignant moment for the AfDB. As the sun begins to set on the tenure of…

The African Development Bank Group (AfDB) has greenlit a $6.6 million grant to assist Somalia’s Federal Government (FGS) in bolstering state capacity, aiming to construct a robust financial framework to foster inclusive and fair growth. The Somalia Financial Sector Development Project is set to hone the capabilities of financial entities, such as the Central Bank of Somalia, the Somalia Development and Reconstruction Bank, and the Financial Reporting Center (FRC). The project focuses on efficient credit delivery,…