Abidjan, Côte d'Ivoire - In a significant development, Sidi Ould Tah of Mauritania has been elected as the new president of the African Development Bank (AfDB) Group. Tah's election marks the beginning of a new era for the bank, as he succeeds Nigerian economist Akinwumi Adesina, who has led the AfDB for the past 10 years.
Tah brings over 35 years of experience in African and international finance to his new role. Notably, he served as the president of the Arab Bank for Economic Development in Africa (BADEA) for 10 years, where he oversaw a comprehensive transformation of the institution. During his tenure, Tah quadrupled BADEA's balance sheet, secured a AAA rating, and positioned it among the top-rated development banks focused on Africa.
In addition to his experience at BADEA, Tah has held senior roles in multilateral institutions, where he has led crisis response, financial reform, and innovative resource mobilization for Africa. One of his notable achievements was the establishment of BADEA's $1 billion callable capital program for African multilateral development banks (MDBs). Tah's background also includes serving as Mauritania's Minister of Economic Affairs and Finance.
The election of Tah as the new President of AfDB was held during the bank's annual meetings in Abidjan, Côte d'Ivoire. Tah won the election with a significant majority, securing 76.18% of the votes. The other candidates in the election were Amadou Hott (Senegal), Samuel Maimbo (Zambia), Mahamat Abbas Tolli (Chad), and Bajabulile Swazi Tshabalala (South Africa).
According to the AfDB, the winning candidate was required to obtain at least 50.01% of both regional and non-regional votes. Tah's victory marks a new chapter for the bank, as he prepares to take the reins from Adesina on September 1, 2025.
Akinwumi Adesina, who has served as the 8th president of the AfDB for the past 10 years, leaves behind a legacy of transformative leadership. During his tenure, Adesina prioritized five key areas: lighting up Africa, feeding Africa, industrializing Africa, integrating Africa, and improving the quality of life for Africans. His leadership has had a profound impact on the bank's operations and its commitment to Africa's development.
The African Development Bank Group is a premier development institution dedicated to promoting economic growth and social progress in Africa. The bank comprises three entities: the African Development Bank, the African Development Fund, and the Nigeria Trust Fund. With 54 African countries and 27 non-African countries as shareholders, the AfDB is uniquely positioned to drive development across the continent.
As Tah assumes his new role, he faces significant challenges and opportunities in leading the AfDB. With his wealth of experience and expertise, he is well-equipped to navigate the complexities of international finance and development, and to drive the bank's mission to achieve a more prosperous and integrated Africa.
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