Sidi Tah takes over as president of African Development Bank

Mauritanian economist Sidi Tah was sworn in on Monday as the ninth president of the African Development Bank.

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The new helmsman takes over from Akinwumi Adesina after a decade in which the institution expanded its capital and visibility but now faces tougher economic headwinds.

On 29 May, the development finance expert was elected with 76.18 percent of the votes during the bank’s annual meetings.

Mr Tah, who previously led the Arab Bank for Economic Development in Africa, said he was assuming the role at a pivotal moment for the continent.

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“Africa’s moment is now. Let’s not just manage development; we must accelerate it,” he told dignitaries at the ceremony in Abidjan, the bank’s headquarters.

The transition continues the AfDB’s six-decade tradition of orderly leadership change. Founded in 1964, the same year Tah was born,the bank has become Africa’s largest development finance institution, funding projects from power plants to agriculture and transport corridors.

Mr Tah outlined four priorities for his first 100 days: listening closely, launching a fast-track reform agenda, deepening partnerships and accelerating practical solutions.

He said the bank will be “attentive, responsive, and capable of setting priorities that matter.” He added that AfDB would strengthen cooperation with governments, the private sector and international partners, “so that together we create a financial framework that serves Africa on its own terms.”

Acknowledging the presence of partners including Finance in Common, the Alliance of African Financial Institutions, the International Development Finance Club and the Arab Coordination Group, Mr Tah pledged readiness “to expand the bank’s partnership to new players such as sovereign funds, pensions funds and others.” He also committed “to urgently revisit our investment models to include a dedicated pillar for investment in peace.”

He told staff he planned to hold a town hall “in the coming days,” describing them as the institution’s “most valuable resource.”

Positioning the bank as a guide for a continent facing demographic pressures, technological change and climate shocks, Mr Tah said: “Africa must look North, South, East and West, not to imitate, but to draw wisdom and strength from every direction while defining its own course. Like a navigator guided by the compass, the Bank should help Africa navigate the megatrends toward increased self-reliance, ambition, and agency.”

But he cautioned that leadership must remain selective.

“The African Development Bank should not aim to be everything to everyone. It should focus on where it can move the needle most, always with the spirit of partnership,” he said.

Mr Adesina, a former Nigerian agriculture minister, leaves after two five-year terms that he described as transformative. At the African Union summit in February, he told heads of state: “It’s been my greatest honour to serve you and Africa.” He said the bank’s investments over the past decade had “transformed 515 million lives, including 231 million women.”

AfDB figures show those numbers included 127 million people gaining access to better health services, 61 million to clean water, 33 million to improved sanitation, 46 million to ICT services and 25 million to electricity.

Under Mr Adesina, the bank achieved its largest-ever capital increase, growing from $93 billion in 2015 to $318 billion in 2025. It also secured a record $8.9 billion replenishment for the African Development Fund, its concessional arm for 37 low-income countries, with a target of $25 billion for the next round.

The institution expanded its global standing as well. During the COVID-19 pandemic it issued a $3 billion “Fight COVID-19” social bond, the largest dollar-denominated bond ever by an international financial institution at the time. The Africa Investment Forum, launched in 2018, has since mobilised $180 billion in investment interests, according to the Bank.

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World leaders, including WTO chief Ngozi Okonjo-Iweala and UN Secretary-General António Guterres, praised Mr Adesina’s leadership, citing AfDB’s work on food security, climate finance and pandemic recovery.

Mr Tah inherits a stronger balance sheet and a louder voice for Africa in global debates, but he also faces mounting challenges. Public debt levels in several African economies are at their highest in decades, with repayments expected to peak from 2026. Rising interest rates have made borrowing more expensive, while climate shocks and geopolitical tensions continue to pressure growth.

Donor support has softened in some quarters, and investor appetite for African risk remains fragile.