Mauritania’s former economy minister, Sidi Ould Tah, was elected president of the African Development Bank (AfDB) on Thursday, succeeding Nigeria’s Akinwumi Adesina and inheriting an institution grappling with the withdrawal of US financial support.
Tah, 60, secured the position in just three voting rounds, clinching 76.18% of ballots—a stark contrast to Adesina’s protracted six-round election in 2015. His closest rival, Zambian economist Samuel Munzele Maimbo, trailed with 20.26%, while Senegal’s Amadou Hott received 3.55%.
A Dual Mandate: Regional and Global Consensus
To win, Tah needed majority support from both the AfDB’s 81 member nations and its 54 African shareholders. He secured 72.37% of votes from African states, bolstered by his decade-long leadership of the Arab Bank for Economic Development in Africa (BADEA)—a role that positions him as a potential bridge between North and sub-Saharan Africa.
Maimbo conceded gracefully, stating: “Today, the Governors have chosen the leader they believe will best deliver the vision of the Africa we want at this pivotal moment.”
Challenges Ahead: US Funding Gap and Strategic Shifts
Tah takes the helm as the AfDB faces a $500 million shortfall after the Trump administration moved to cut US contributions to the bank’s low-income country projects. The institution, capitalized at $318 billion—up from $93 billion under Adesina—relies on member subscriptions, global market loans, and loan repayments.
In his campaign, Tah pledged to:
- Strengthen Africa’s regional financial institutions.
- Assert the continent’s autonomy in global markets.
- Leverage population growth for development.
- Build climate-resilient infrastructure.
- Advance Adesina’s “High 5” priorities: energy access, food security, industrialization, regional integration, and quality of life.
Adesina’s Legacy: A ‘World-Class’ Bank
Outgoing president Adesina touted his tenure’s achievements, including projects like Egypt’s Gabal El Asfar wastewater plant—Africa’s largest—and a Senegal-Gambia bridge. “We have built a world-class financial institution,” he said, noting that 565 million people benefited from AfDB initiatives during his decade-long leadership.
As Tah prepares to steer the AfDB through geopolitical and economic headwinds, observers await his strategy to mitigate funding gaps and accelerate Africa’s development ambitions.
