STAFF WRITER
PRESIDENT Netumbo Nandi-Ndaitwah has congratulated Dr. Sidi Ould Tah of Mauritania on his election as the president of the Africa Development Bank (AFDB). The bank held its presidential election on Thursday during the annual meeting in Côte d’Ivoire. The meeting took place under the theme “Making Africa’s capital work better for Africa’s development.” “On behalf of the people and the Government of the Republic of Namibia, I extend sincere congratulations to Dr. Sidi Ould Tah on his election as the 9th President of the AFDB.
“Namibia and the AfDB have worked closely over the years to strengthen our agricultural, educational, and transport sectors. Namibia is fully aligned with the priorities of Dr. Ould Tah to drive Africa’s industrial development through natural resource beneficiation,” Nandi-Ndaitwah said in a statement. Nandi-Ndaitwah also extended appreciation to the outgoing President of the AfDB, Dr. Akinwumi Adesina, for his role. 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. In his acceptance speech Tah said, “Let’s go to work now, I’m ready!” A former Minister of Economic Affairs and Finance of Mauritania, he has held senior roles in multilateral institutions and has led crisis response, financial reform, and innovative resource mobilization for Africa.
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. The other candidates in the election were Amadou Hott from Senegal , Samuel Maimbo from Zambia, Mahamat Abbas Tolli from Chad and Bajabulile Swazi Tshabalala from South Africa. Tah will assume office on 1 September 2025, for a five-year term, following the end of the second mandate of current President, Dr. Akinwumi Adesina.
The African Development Bank’s past heads since its inception in 1964 are: Mamoun Beheiry (Sudan), 1964-1970 Abdelwahab Labidi (Tunisia), 1970-1976 Kwame Donkor Fordwor (Ghana), 1976-1980 Willa Mung’Omba (Zambia), 1980-1985 Babacar N’diaye (Senegal), 1985-1995 Omar Kabbaj (Morocco), 1995-2005 Donald Kaberuka (Rwanda), 2005-2015 Dr. Akinwumi Adesina (Nigeria), 2015-2025.
The election of a new president comes 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 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.
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