Abidjan: Sidi Ould Tah of Mauritania has been elected President of the African Development Bank (AfDB) Group at the Bank’s Annual Meetings in Abidjan, C´te d’Ivoire. He emerged victorious after three rounds of voting, defeating four other candidates to become the ninth president of the pan-African development finance institution. Mr. Ould Tah will hold this position for the next five years.
According to Ghana News Agency, Mr. Ould Tah secured 76.18 percent of the votes, surpassing Zambia’s Samuel Maimbo who received 20.26 percent, and Senegal’s Amadou Hott with 3.55 percent. Chad’s Mahamat Abbas Tolli was the first to be eliminated with just 0.88 percent of the vote, followed by South Africa’s Swazi Tshabalala, who garnered 5.9 percent. The announcement of the results was made by Niale Kaba, Minister of Planning and Development for C´te d’Ivoire, and Chairman of the Board of Governors of the Bank Group, during an election in which Ghana’s Finance Minister, Dr. Cassiel Ato Baah Forson, served as the Returning Officer.
Mr. Ould Tah, who previously served as the Director General of the Arab Bank for Economic Development in Africa (BADEA), succeeds Dr. Akinwumi Adesina, who was the Bank’s president for 10 years. The election of the new president comes at a pivotal moment for the Bank Group, as the continent strives to achieve the African Union’s Agenda 2063 and the Sustainable Development Goals (SDGs). Both initiatives are integral to the AfDB’s ‘High 5’ agenda, which aims to ‘Light up and Power Africa; Feed Africa; Industrialise Africa; Integrate Africa; and Improve the Quality of Life for the People of Africa.’
The Bank has stated that Africa has shown resilience despite climate shocks, economic disruption, and a shifting geopolitical landscape. However, there is a pressing need to accelerate progress to meet the continent’s developmental goals. It is anticipated that Mr. Ould Tah, with over 35 years of experience in African and international finance, will continue to advance the Bank’s objectives over the next five years.
During his tenure at BADEA, Mr. Ould Tah led a comprehensive transformation that significantly increased the Bank’s balance sheet, earned a AAA rating, and positioned it as one of the top-rated development banks focused on Africa. He has also served as the Minister of Economic Affairs and Finance of Mauritania and held senior roles in multilateral institutions, leading initiatives in crisis response, financial reform, and innovative resource mobilization for Africa. Notably, he established BADEA’s US$1 billion callable capital programme for African Multilateral Development Banks (MDBs).
Mr. Ould Tah has outlined a four-point agenda for his administration, focusing on reforming Africa’s financial architecture, transforming the continent’s demographic boom into economic strength, industrializing while utilizing natural resources, and unlocking large-scale capital.