ABIDJAN – The African Development Bank (AfDB) is set to elect a new president this Thursday in Abidjan during its 60th Annual Meetings, to succeed Akinwumi Adesina, who has led the institution since 2015. The vote is expected to be highly competitive.
The Board of Governors of the AfDB Group—comprised of finance ministers, economy ministers, and central bank governors from the 81 member countries—will meet today to choose the next leader of the pan-African bank.
By the deadline of January 31, 2025, the board’s steering committee had validated five candidates, whose names were officially released on February 21. They are:
- Bajabulile Swazi Tshabalala (South Africa), current AfDB Vice President and a renowned banking expert who has led several African financial institutions.
- Samuel Munzele Maimbo (Zambia), an economist and Vice President of the World Bank, responsible for budget, performance evaluation, and strategic planning, with extensive experience at the International Bank for Reconstruction and Development (IBRD).
- Amadou Hott (Senegal), a board member of the African Export-Import Bank (Afreximbank) and former AfDB board director, who also served as Senegal’s Minister of Economy, Planning, and Cooperation.
- Mahamat Abbas Tolli (Chad), the Central African Economic Community’s (ECCAS) candidate, former governor of the Bank of Central African States (BEAC), and ex-minister of Finance and Infrastructure in Chad.
- Sidi Ould Tah (Mauritania), former Minister of Finance and Economy and head of the Arab Bank for Economic Development in Africa (BADEA) for ten years.
To win, a candidate must secure over 50% of the votes from both regional and non-regional members in a secret ballot to be held behind closed doors this evening. Voting rights are weighted based on each member state’s capital share in the bank. Major shareholders include Algeria, Nigeria, Egypt, and South Africa, collectively holding nearly a third of the vote.
