AFRICA — The African Development Bank (AfDB) is set to elect a new president Thursday, May 29, 2025, during its annual meetings in Abidjan, Côte d’Ivoire. This leadership transition comes as the institution navigates growing financial pressure, including a proposed $555 million cut in U.S. contributions to the bank and its concessional arm, the African Development Fund (ADF).
The current AfDB president, Dr. Akinwumi Adesina, is completing his second and final term, which ends in September 2025. The new AfDB president will be chosen from five official candidates: Bajabulile Swazi Tshabalala (South Africa), Amadou Hott (Senegal), Samuel Munzele Maimbo (Zambia), Sidi Ould Tah (Mauritania), and Abbas Mahamat Tolli (Chad). The bank’s Board of Governors, comprising 81 member countries, including 54 African and 27 non-regional members, will conduct the election.
Candidates Present Diverse Priorities for AfDB’s Direction
Each candidate brings different experience and priorities to the role. Tshabalala, a former senior vice president of the AfDB, emphasizes strengthening the bank’s internal structures and boosting investment in infrastructure. Hott, Senegal’s former minister of economy and a former AfDB vice president, supports greater financial self-sufficiency in Africa through enhanced domestic resource mobilization and private-sector engagement.
Maimbo, a vice president at the World Bank, promotes regulatory reforms to foster intra-African trade and deeper economic integration. Ould Tah, who previously led the Arab Bank for Economic Development in Africa, advocates for expanded climate-resilient investments and enhanced capital mobilization. Tolli, former governor of the Bank of Central African States, focuses on improving governance and expanding digital finance systems.
Funding Challenges Highlight Urgent Need for Strategic Reform
The next AfDB president will take office during a critical period marked by reduced external funding. The United States government has proposed significant cuts to its financial commitments to the AfDB and ADF, which could constrain development financing across multiple African countries. The next leader is expected to explore alternative funding sources, including increased contributions from member nations and partnerships with emerging donor countries.
In addition to addressing these cuts, the AfDB is facing broader financial challenges such as currency depreciation in member states and rising global interest rates, which impact its lending capacity. According to the official site for the AfDB Annual Meetings, the institution is also reviewing its capital adequacy and seeking to attract private sector funding to maintain development operations (According to Leadership.ng).
Annual Meetings Focus on Capital Mobilization and Economic Resilience
The 2025 annual meetings, held May 27–31, carry the theme “Making Africa’s Capital Work Better for Africa’s Development.” More than 6,000 participants—including heads of state, finance ministers, development experts, and private sector representatives—have gathered in Abidjan to discuss strategies for mobilizing domestic and international capital, strengthening regional integration, and promoting financial resilience.
During the meetings, African leaders have called for coordinated efforts to increase capital investments in agriculture, infrastructure, energy, and climate projects. The sessions have also addressed debt sustainability, digital transformation, and industrialization.
Growth Outlook Revised Amid Global Uncertainty
In its updated economic outlook, the AfDB has revised Africa’s projected growth rate for 2025 down to 3.9% from an earlier forecast of 4.1%. This adjustment follows a lower-than-expected growth rate of 3.3% in 2024. The bank attributes this to global trade disruptions, new international tariffs, and reduced development financing.
The next AfDB president will inherit a complex environment shaped by funding limitations and shifting global economic dynamics. Their leadership will be critical in shaping the continent’s development priorities and ensuring continued support for key sectors, including health, education, infrastructure, and climate adaptation.
