The African Development Bank (AfDB) has witnessed a surge in capital growth, expanding by 241.9% over the past decade, as the institution prepares for a leadership transition this week.
The Bank’s capital has skyrocketed from $93 billion in 2015 to $318 billion in 2025, marking the largest financial expansion in its history.
Speaking at a breakfast meeting with journalists on Monday, President of the African Development Bank Group, Dr. Akinwumi Adesina, reflected on the institution’s achievements in the last decade.
He highlighted the successful replenishment of the African Development Fund, which raised $8.9 billion, and underlined the significant impact the Bank has had, benefiting half a billion Africans through its investments over the past ten years.
Describing his tenure as both consuming and profoundly fulfilling, Adesina emphasized the dedication required to lead an institution of such scale and influence. He remarked that his presidency was not merely a job but a mission, recounting the immense personal commitment he made throughout his decade-long leadership.
“This is not a job. If anyone is looking for a job, please don’t take it. This is not a job. This is a mission,” he stated.
He went on to share how the demands of the role left him little time for anything else, saying, “As my wife Grace and staff would tell you, for ten years I have had no life. Completely zero. I worked every single day. Every single step.”
The press briefing marked the opening event of the Bank’s 2025 Annual Meetings, taking place in Abidjan, Côte d’Ivoire, from May 26 to May 30, where a new president will be elected to lead the institution.
Five candidates are in contention to succeed Adesina: Ms. Swazi Tshabalala from South Africa, Mr. Hott Amadou from Senegal, Dr. Samuel Munzele Maimbo from Zambia, Dr. Sidi Tah Ould from Mauritania, and Mr. Abbas Mahamat Tolli from Chad.
The Annual Meetings are expected to be the largest ever hosted by the AfDB, drawing an estimated 6,000 delegates from 91 countries. Attendees will include policymakers, private sector leaders, academics, civil society representatives, development partners, and members of the media. The event will provide a critical platform for discussions on Africa’s economic future and sustainable development strategies.
As Adesina prepares to hand over the leadership reins on September 1, 2025, he reassured stakeholders that while leadership may change, the institution’s core mission remains unwavering. “Leadership may change, but the mission remains. The Bank’s direction is clear, its resolve strong, and its commitment to Africa’s development unshakable,” he affirmed.
What you should know
- The successor to Nigeria’s Akinwumi Adesina will be decided on May 29, 2025, at the bank’s headquarters in Abidjan, Côte d’Ivoire.
- These individuals represent a diverse cross-section of Africa’s financial, economic, and development expertise.
- The new president will be tasked with driving financial inclusion, economic development, and sustainable investments across Africa.
