Abidjan, Côte d’Ivoire – September 1, 2025
In a landmark ceremony held at the African Development Bank (AfDB) headquarters in Abidjan, Dr. Sidi Ould Tah of Mauritania was officially sworn in as the 9th President of the AfDB Group. The event marked the commencement of his five-year term, succeeding Nigeria's Dr. Akinwumi Adesina, who concluded his decade-long leadership of the institution.
Dr. Ould Tah's election on May 29, 2025, was historic, securing over 76% of the vote—the highest margin for a first-term president in the Bank's history. The election took place during the Bank’s Annual Meetings in Abidjan, with participation from the Bank’s Board of Governors, comprising finance ministers and central bank governors from its 81 member countries.
In his inaugural address, Dr. Ould Tah emphasized a vision centered on African self-reliance, youth empowerment, and regional integration. He outlined four cardinal points to guide the Bank’s direction, stating, “Africa must look north, south, east, and west. Not to imitate, but to draw wisdom and strength from every direction while defining its own course.”
Highlighting the inseparable link between development and peace, he asserted, “There is no development without peace, and there is no peace without development,” calling for greater investment in stability alongside economic growth.
Dr. Ould Tah brings over 35 years of experience in African and international finance. He previously served as president of the Arab Bank for Economic Development in Africa (BADEA) from 2015, where he led a transformation that quadrupled the Bank’s balance sheet and secured a AAA rating.
The ceremony was attended by notable dignitaries, including Ivorian President Alassane Ouattara and Mauritanian President Mohamed Ould Cheikh Ghazouani. President Ghazouani expressed confidence in Dr. Ould Tah’s leadership, stating, “Dr. Sidi Ould Tah has this heavy responsibility to ensure that the Bank enhances its key role in promoting the economic and social development of the continent.”
Dr. Ould Tah assumes leadership at a critical time, as the AfDB faces significant challenges, including a potential 555 million funding cut from the U.S. to its African Development Fund (ADF), which supports over 30 of the continent’s poorest nations. The Bank estimates Africa needs over400 billion annually to fund its structural transformation. In response to these challenges, Dr. Ould Tah emphasized the need for innovative financing and stronger partnerships. He stated, “Africa must act now. Industrialization cannot wait, and African raw materials must be processed on African soil,” underscoring the urgency of economic transformation.
As he embarks on his tenure, Dr. Ould Tah's leadership is anticipated to steer the AfDB towards addressing the continent's pressing needs, fostering sustainable development, and enhancing the Bank's role as a catalyst for Africa's growth and integration.
0 Comments