African Development Bank Elects A New President. Who Succeeds Adesina? 

Shareholders of the African Development Bank (AfDB) will convene at its Abidjan headquarters in Côte d’Ivoire on Thursday, May 29, to elect a new president, marking the conclusion of a high-stakes race to succeed Akinwumi Adesina, whose second term ends in August 2025. The election will determine who steers the continent’s premier financial institution amid mounting challenges, including climate crises, rising debt, and pressure to mobilize billions for Africa’s development. 

Adesina, Nigeria’s former agriculture minister, first elected in 2015 and re-elected unanimously in 2020, prioritized economic resilience, poverty reduction, and positioning Africa as a global investment hub. Under his leadership, the AfDB focused on infrastructure, energy, and climate resilience, with 11 of the world’s 20 fastest-growing economies in 2023 hailing from Africa. “Despite global headwinds, Africa continues to post resilient growth,” Adesina told DW, crediting the bank’s support programs for stabilizing economies. 

Founded in 1964, the AfDB funds critical projects across 54 regional and 28 non-regional member states, leveraging loans, grants, and technical assistance. Its influence spans 81 countries, including major donors like the U.S., China, and France. 

The next president must secure a “double majority” of over 50% of total votes and over 50% from African nations. Regional blocs like ECOWAS, SADC, and CEMAC often rally behind candidates, though national interests can fracture alliances. This year’s race highlights shifting loyalties, particularly within SADC, where South Africa’s unilateral endorsement of its candidate has sparked discord. 

Meet the Candidates

The AfDB’s top seat is fiercely contested. Candidates have dropped out of the race, leaving five are in the race: four men and one woman, each bringing distinct visions and regional backing to the race.

Amadou Hott

In September, Amadou Hott resigned from his role as Special Envoy to the President of the African Development Bank (AfDB) for the Alliance for Green Infrastructure in Africa (AGIA) to officially launch his campaign for the AfDB presidency. His resignation was confirmed by the Bank, allowing him to begin his bid to succeed current president Akinwumi Adesina in 2025.

Hott, a former Senegalese Minister of Economy, Planning, and Cooperation, emphasizes the urgent need for the AfDB to invest more heavily in education and skills development to unlock the continent’s human capital.
“We have to invest more in education and skilled development, not just to educate, but to create job opportunities,” he said during a recent candidate session hosted by the Brooklyn Institution.

His campaign is backed by Senegalese President Bassirou Diomaye Faye, who is lobbying other Heads of State across AfDB shareholder nations. Notably, Hott has secured support from Nigeria, which holds the largest voting share among African countries at 9%.

Dr. Samuel Munzele Maimbo

Zambia’s Dr. Maimbo is currently the Vice President for Budget, Performance Review, and Strategic Planning at the World Bank. He has led key reforms in budgeting and planning and previously served as Chief of Staff to World Bank Presidents David Malpass and Ajay Banga.

“I want to make sure that we are supporting governments as best we can to navigate a very complex, polarized environment,” Maimbo declared, adding that the bank has a sizable amount of concessional financing to support governments, but that ultimately their number one goal was “ensuring that economies are growing quickly.”

With strong endorsements from both the Southern African Development Community (SADC) and the Common Market for Eastern and Southern Africa (COMESA), Maimbo is positioning himself as a stabilizing figure for African economies.

Sidi Ould Tah

Mauritania’s Sidi Ould Tah is prioritizing Africa’s youth and agricultural transformation. He believes the AfDB must help countries leverage their demographic advantage and natural resources to drive prosperity.

“We need to work on my demography and turn it into power. We need to use our natural resources and transform our wealth into prosperity,” he stated. He also underscored the importance of investing in women and children. Tah has received backing from France, bolstering his position on the international stage.

Abbas Mahamat Tolli

Former Governor of the Bank of Central African States, Tolli was the first to declare his candidacy in February 2024. He enjoys strong regional support, having been endorsed by both the Economic and Monetary Community of Central Africa (CEMAC) and the Economic Community of Central African States (ECCAS).

He has made economic diversification, renewable energy, and infrastructure development the cornerstones of his campaign.

“We need to focus on renewable energy so that we can have reliable and sustainable energy. We also need to invest in the infrastructure and agriculture sectors,” Tolli said, signaling that these would be priorities for him.

Bajabulile Swazi Tshabalala

The sole female contender, Tshabalala, joined the AfDB in 2018 as Vice President for Finance and rose to Senior Vice President in 2021. She stepped down in October to run for presidency after receiving the South African government’s endorsement.

“Africa’s productivity is behind those of many other regions in the rest of the world, and that productivity gap arises because of the infrastructure gap,” she highlighted.

“In my view, it is not possible to create jobs to industrialize to do any of these ambitious things without basic infrastructure. That includes roads, that includes electricity.”  

However, her candidacy has stirred controversy within the SADC. Traditionally a unified voting bloc, the coalition is now fractured after South Africa, holding over 5% of the vote, opted not to support Zambia’s Maimbo, instead putting forward Tshabalala.

The Challenges Ahead 

The incoming president faces a daunting task: closing a $68–$108 billion annual infrastructure gap, countering dwindling foreign aid, and boosting the AfDB’s lending capacity. In 2023, the bank disbursed $6.1 billion, less than half the Inter-American Development Bank’s contributions for a smaller population. With the U.S. reducing funding and private capital lagging, the AfDB must innovate to maintain its role as Africa’s development linchpin.