AFDB ANNUAL MEETINGS CONCLUDE WITH A BOLD Call for Africa TO HARNESS ITS OWN CAPITAL.

BY NJERI IRUNGU 
Abidjan, Côte d’Ivoire – May 30, 2025

The African Development Bank (AfDB) concluded its 2025 Annual Meetings in Abidjan on Friday with a strong call for African nations to mobilize their own resources and investment capital to accelerate development across the continent. The event, themed “Harnessing Africa’s Capital for the Continent’s Development”, drew participation from African finance ministers, central bank governors, development partners, and private sector leaders.
In his closing remarks, outgoing AfDB President Dr. Akinwumi A. Adesina emphasized the importance of shifting away from aid dependency toward self-reliant, investment-driven development. “The future of Africa is going to come from investment, not aid,” Dr. Adesina said. “I don’t want freebies—I want Africa to develop with pride.”

Dr. Adesina, who served two terms as AfDB President, used the occasion to reflect on the Bank’s impact under his leadership. He cited the success of the "High 5s" strategy, which he said had helped improve the lives of over 565 million people by focusing on five key priorities: lighting up and powering Africa, feeding Africa, industrializing Africa, integrating Africa, and improving the quality of life for Africans.

The meetings also marked the election of Sidi Ould Tah as the AfDB’s ninth president. Currently serving as Director General of the Arab Bank for Economic Development in Africa (BADEA), Ould Tah is set to officially assume office on September 1, 2025. While he did not deliver a full speech during the ceremony, he addressed the Bank's governors with a simple but resolute message: “Let’s go to work now. I’m ready.”

Governors of the Bank adopted key resolutions at the close of the meetings, endorsing a long-term vision for the Bank’s role in Africa’s transformation. These include initiatives to boost capital mobilization, deepen regional integration, and strengthen institutional capacity.

Stakeholders left Abidjan with a renewed sense of urgency to unlock domestic capital and build resilient economies across Africa. The 2025 Annual Meetings highlighted a clear shift in narrative—from reliance on foreign aid to a confident embrace of African-led solutions.

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