Meet the people vying to lead Africa’s top development bank

Five Candidates Battle for Top Job at African Development Bank

ABIDJAN, Ivory Coast – The African Development Bank (AfDB) is set to elect a new president this Thursday during its annual meeting, with five contenders vying for the role. The vote comes at a pivotal time as development finance undergoes significant global shifts, with reduced concessional funding, decreased aid from wealthier nations, and unpredictable borrowing costs. With a capital base of $318 billion, the AfDB plays a vital role in Africa’s economic development.

Meet the Candidates:

Bajabulile Swazi Tshabalala

The only female candidate, Tshabalala is a South African banker with three decades of experience. She previously served as the AfDB’s Senior Vice President until October.

Tshabalala envisions a restructured bank that can better deliver long-term infrastructure projects. She emphasizes the need to streamline internal systems to support more impactful development.

“Infrastructure is the key to unlocking Africa’s potential—whether in trade, finance, or mineral resources,” she stated. She also supports the expansion of innovative financing tools, including hybrid capital.

Amadou Hott

Senegal’s former Minister of Economy and a seasoned banker with a career spanning cities like Lagos and London, Hott aims to foster Africa’s financial independence.

He prioritizes increasing domestic revenue and designing projects that keep investments within the continent. “Raising revenue is essential,” he said, citing Africa’s average tax-to-GDP ratio of 16%, compared to 34% in OECD countries.

Improved tax collection, he argues, would boost credit ratings, reduce borrowing costs, and fund essential infrastructure like power and transport systems.

Samuel Munzele Maimbo

Currently on leave from his position as Vice President at the World Bank, the Zambian candidate brings 30 years of development finance experience.

Maimbo wants to enhance intra-African trade by fixing financial systems and creating a seamless regulatory environment. “We must improve trade across the continent,” he said. “With only 15% of goods traded among ourselves, much potential is being wasted.”

He supports a continent-wide strategy to address issues such as debt sustainability and infrastructure development.

Sidi Ould Tah

The former Finance Minister of Mauritania and current head of the Arab Bank for Economic Development in Africa, Tah is focused on building economic sovereignty for Africa.

He proposes four key initiatives: expanding access to capital, reforming financial systems, formalizing the informal economy (which employs 83% of Africans), and investing in climate-resilient infrastructure.

By partnering with private and multilateral institutions, Tah believes the bank can multiply its impact — turning every $1 raised into $10 of productive capital.

Abbas Mahamat Tolli

Tolli brings a wealth of experience from Central Africa, having served as Chad’s Finance Minister, a central bank governor, and President of the Development Bank of Central African States.

His agenda centers on self-reliance and improved governance. He wants to reduce inefficient spending and enhance transparency to curb the financial outflows that have plagued African economies.

Tolli calls for a major reform of AfDB’s operational structure, emphasizing risk-sharing, public-private partnerships, and digital financing solutions. His personal journey — from fleeing civil war to becoming a financial leader — inspires his vision for inclusive growth across Africa.

This article was adapted from a Reuters report by Libby George.