AFRICAN DEVELOPMENT BANK ELECTS SIDI OULD TAH AS NEW PRESIDENT

The African Development Bank Group has elected Sidi Ould Tah of Mauritania as its new president, succeeding Nigerian economist Akinwumi Adesina, who led the bank for 10 years. Tah’s election was announced on Thursday at the bank’s annual meetings held in Abidjan, Côte d’Ivoire.

Tah, a seasoned expert in African and international finance, brings over 35 years of experience to the role. He previously served as president of the Arab Bank for Economic Development in Africa, where he quadrupled the bank’s balance sheet and secured a AAA rating.

The new president will assume office on September 1, 2025, for a five-year term. Adesina, who completed his second term, praised the bank’s progress under his leadership, emphasizing the importance of Africa’s economic growth and development.

Details on the election process reveal that Tah obtained the required double majority vote, securing at least 50.01% of both regional and non-regional votes. The Board of Governors, comprising Finance and Economy Ministers or Central Bank Governors of the Bank Group’s 81 member countries, elected Tah as the ninth president of the African Development Bank Group.

With Africa facing climate shocks, economic disruption, and a shifting geopolitical landscape, Tah’s leadership will be crucial in driving the bank’s High 5s agenda and supporting Africa’s development goals.