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African Development Bank Readies to Elect New President After Adesina Era

Governors will choose a successor tasked with guiding the bank through an unpredictable economic landscape compounded by potential US funding cuts.

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Participants attend the African Development Bank (AfDB) annual meeting, in Abidjan, Ivory Coast, May 27, 2025. REUTERS/Luc Gnago/File Photo
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Akinwumi Adesina is stepping down as president of African Development Bank (AFDB) after 10 years

Overview

  • Five candidates representing West, Central and Southern Africa face off in today’s final voting round ahead of a September handover.
  • Under Akinwumi Adesina, the bank’s capital base more than tripled from US$93 billion to US$318 billion while retaining its AAA credit rating.
  • The institution invested over US$102 billion during his decade in charge, including more than US$55 billion in infrastructure projects across the continent.
  • Its High5s strategy delivered benefits to 565 million Africans through initiatives in energy, food security, industrialisation, regional integration and improved living standards.
  • The incoming president must navigate a volatile global economy and a potential US withdrawal of US$500 million in support for low-income country projects.