I feel tremendously proud of what we have done,” Dr. Akinwumi Adesina, the president of the African Development Bank (AfDB), said in reviewing the challenges and achievements of his two five-year terms leading the continent’s largest financial institution devoted to promoting growth and reducing poverty.
During his tenure, the bank’s capital has more than tripled, was ranked as the best multilateral financial institution in the world in 2021 and first on the Aid Transparency Indices produced by Publish What You Fund. Adesina has been a highly visible advocate for the continent internationally, engaging with world leaders in multiple fora, “elevating Africa’s voice in every single engagement globally” to ensure the Africa’s priorities “are never forgotten,” he said.
On May 29, the Board of Governors, the bank’s highest decision-making body with representatives from the 54 African member states and 27 non-African member states, will elect the next president during the annual meetings in Abidjan, where AfDB is headquartered. “This 60-year-old development finance institution, and who runs it, matter more than ever,” the Economist wrote, comparing the drama surrounding the choice to a combination of a papal conclave and “the national rivalries of the Eurovision Song Contest.” Adesina will serve until the new leader takes over in September.
“We need to continue to market Africa, position Africa, attract global capital to Africa and help Africa navigate the complexity of the current environment,” Adesina said as the interview concluded. “It’s about attracting capital to unlock the assets of Africa,”he said. “It is the only way to develop with pride. And I think Africa should develop in pride.”
