By Juwon Olofijana
Finance News Correspondent
Sidi Tah of Mauritania Assumes Office as 9th President of AfDB, Succeeding Nigeria’s Adesina
In a significant leadership transition at one of Africa’s foremost financial institutions, Sidi Mohamed Tah, a seasoned economist and diplomat from Mauritania, has officially assumed office as the 9th President of the African Development Bank (AfDB). He succeeds Nigeria’s Akinwunmi Adesina, who completed two terms and leaves behind a legacy marked by ambitious infrastructure projects and efforts to drive economic growth across the continent.
A New Chapter for the AfDB
The African Development Bank, established in 1964, has played a critical role in financing development projects across Africa, focusing on poverty reduction, sustainable economic growth, and regional integration. The presidency of the bank is one of the most influential positions on the continent, with the leader setting the strategic vision for billions of dollars in investments.
Sidi Tah’s appointment was the culmination of a rigorous selection process involving the bank’s board of governors, which comprises representatives from its 81 member countries. His election was widely supported, reflecting confidence in his extensive experience and vision for the bank’s future.
About Sidi Mohamed Tah
Before his appointment as AfDB President, Sidi Mohamed Tah held several key positions within the bank and the broader African economic landscape. He served as the Vice-President for Power, Energy, Climate and Green Growth at AfDB, where he spearheaded initiatives to enhance sustainable energy access and combat climate change. His leadership in renewable energy projects helped position the bank as a key player in Africa’s green transformation.
Tah’s background in economics, diplomacy, and international development gives him a comprehensive understanding of the continent’s challenges and opportunities. He is known for his pragmatic approach and commitment to mobilizing resources to address infrastructure deficits, improve governance, and foster inclusive growth.
Legacy of Akinwunmi Adesina
Tah inherits the reins from Akinwunmi Adesina, a Nigerian economist whose tenure saw the AfDB deepen its impact through innovative financing and a strong focus on agriculture, energy, and digital infrastructure. Adesina championed initiatives such as the “High 5” development priorities, aimed at accelerating progress in light up and power Africa, feed Africa, industrialize Africa, integrate Africa, and improve the quality of life for Africans.
Adesina’s leadership also emphasized partnerships with the private sector and leveraging technology to enhance development outcomes. Under his guidance, the AfDB’s capital base was significantly expanded, allowing for increased lending capacity.
Challenges and Opportunities Ahead
As Sidi Tah steps into the role, the AfDB faces a range of complex challenges, including the economic fallout from the COVID-19 pandemic, climate change impacts, and the urgent need to finance Africa’s infrastructure gap. The continent’s youthful population and rapid urbanization demand innovative solutions to create jobs, improve education, and strengthen health systems.
Tah has articulated a vision that builds on his predecessor’s foundation while emphasizing green growth and sustainable development. He is expected to prioritize climate finance, renewable energy, and initiatives aimed at resilience-building across African economies.
Reactions from the Continent and Beyond
The appointment of Sidi Tah has been met with optimism from African leaders and development partners alike. South African President Cyril Ramaphosa praised the decision, stating, “Mauritania has chosen a capable and visionary leader in Sidi Mohamed Tah. We look forward to the AfDB’s continued support for Africa’s development under his stewardship.”
International development institutions, including the World Bank and the International Monetary Fund, have welcomed Tah’s presidency, signaling their readiness to collaborate on shared goals of economic recovery and sustainable growth.
Looking Forward
Sidi Mohamed Tah takes office at a pivotal moment in Africa’s development journey. His leadership will be instrumental in steering the AfDB’s efforts to mobilize capital, foster regional cooperation, and implement innovative solutions to some of the continent’s most pressing challenges.
As Africa strives to achieve the United Nations Sustainable Development Goals and navigate a rapidly changing global landscape, the role of the AfDB—and its new president—has never been more crucial.
