{"id":220,"date":"2025-05-26T12:08:41","date_gmt":"2025-05-26T12:08:41","guid":{"rendered":"https:\/\/eandelmagazine.com\/eandelmagazine\/?p=220"},"modified":"2025-05-26T12:08:41","modified_gmt":"2025-05-26T12:08:41","slug":"meet-the-people-vying-to-lead-africas-top-development-bank","status":"publish","type":"post","link":"https:\/\/eandelmagazine.com\/eandelmagazine\/meet-the-people-vying-to-lead-africas-top-development-bank\/","title":{"rendered":"Meet the people vying to lead Africa’s top development bank"},"content":{"rendered":"

Five Candidates Battle for Top Job at African Development Bank<\/h3>\n

 <\/p>\n

ABIDJAN, Ivory Coast \u2013<\/strong> 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\u2019s economic development.<\/p>\n

\"\"<\/p>\n

Meet the Candidates:<\/h3>\n

Bajabulile Swazi Tshabalala<\/strong><\/h4>\n

The only female candidate, Tshabalala is a South African banker with three decades of experience. She previously served as the AfDB\u2019s Senior Vice President until October.<\/p>\n

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.<\/p>\n

\u201cInfrastructure is the key to unlocking Africa\u2019s potential\u2014whether in trade, finance, or mineral resources,\u201d she stated. She also supports the expansion of innovative financing tools, including hybrid capital.<\/p>\n

Amadou Hott<\/strong><\/h4>\n

Senegal\u2019s former Minister of Economy and a seasoned banker with a career spanning cities like Lagos and London, Hott aims to foster Africa\u2019s financial independence.<\/p>\n

He prioritizes increasing domestic revenue and designing projects that keep investments within the continent. \u201cRaising revenue is essential,\u201d he said, citing Africa\u2019s average tax-to-GDP ratio of 16%, compared to 34% in OECD countries.<\/p>\n

Improved tax collection, he argues, would boost credit ratings, reduce borrowing costs, and fund essential infrastructure like power and transport systems.<\/p>\n

Samuel Munzele Maimbo<\/strong><\/h4>\n

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

Maimbo wants to enhance intra-African trade by fixing financial systems and creating a seamless regulatory environment. \u201cWe must improve trade across the continent,\u201d he said. \u201cWith only 15% of goods traded among ourselves, much potential is being wasted.\u201d<\/p>\n

He supports a continent-wide strategy to address issues such as debt sustainability and infrastructure development.<\/p>\n

Sidi Ould Tah<\/strong><\/h4>\n

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.<\/p>\n

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.<\/p>\n

By partnering with private and multilateral institutions, Tah believes the bank can multiply its impact \u2014 turning every $1 raised into $10 of productive capital.<\/p>\n

Abbas Mahamat Tolli<\/strong><\/h4>\n

Tolli brings a wealth of experience from Central Africa, having served as Chad\u2019s Finance Minister, a central bank governor, and President of the Development Bank of Central African States.<\/p>\n

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.<\/p>\n

Tolli calls for a major reform of AfDB\u2019s operational structure, emphasizing risk-sharing, public-private partnerships, and digital financing solutions. His personal journey \u2014 from fleeing civil war to becoming a financial leader \u2014 inspires his vision for inclusive growth across Africa.<\/p>\n

 <\/p>\n

This article was adapted from a Reuters report by Libby George.<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"

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