Adesina Reflects on 10-Year Legacy as AfDB Awaits New Leadership

As the African Development Bank (AfDB) prepares to elect a new president during its annual meetings in Abidjan on May 29, outgoing president Dr. Akinwumi Adesina has reflected on a decade of transformation and achievement at the helm of Africa’s largest development finance institution.

“I feel tremendously proud of what we have done,” Adesina said in a recent interview with AllAfrica, as he reviewed the accomplishments and challenges of his two five-year terms.

A Decade of Growth and Recognition

Under Adesina’s leadership, the AfDB’s capital base more than tripled. In 2021, it was recognized as the best multilateral financial institution in the world, and also ranked first on the Aid Transparency Index by Publish What You Fund.

Adesina’s impact has gone beyond the bank’s balance sheets. He has become one of the continent’s most prominent global advocates, frequently engaging world leaders to ensure Africa’s priorities are heard and acted upon.

“I have worked hard to elevate Africa’s voice in every single engagement globally,” he said. “To make sure Africa is not forgotten.”

A Critical Transition Ahead

On May 29, the AfDB’s Board of Governors—comprising representatives from its 81 member states (54 African and 27 non-African)—will vote on the bank’s next president. The transition comes as the institution marks its 60th anniversary and takes on new challenges in a rapidly changing global landscape.

In a recent article, The Economist described the upcoming leadership decision as a combination of “a papal conclave and the national rivalries of the Eurovision Song Contest,” highlighting the high stakes and geopolitical interest surrounding the role.

Adesina is expected to remain in office until a new president takes over in September.

Marketing Africa with Pride

As he prepares to hand over leadership, Adesina emphasized that Africa’s progress depends on its ability to attract capital and project a strong global image.

“We need to continue to market Africa, position Africa, attract global capital to Africa and help Africa navigate the complexity of the current environment,” he said.

“It’s about attracting capital to unlock the assets of Africa,” he concluded. “It is the only way to develop with pride. And I think Africa should develop in pride.”