IVORY COAST HOSTS PIVOTAL AFRICAN DEVELOPMENT Bank Meetings as Leadership TRANSITION LOOMS.
BY NJERI IRUNGU
Abidjan – May 27, 2025.
The 2025 Annual Meetings of the African Development Bank (AfDB) Group opened this week in Abidjan, Côte d'Ivoire, drawing top African leaders, finance ministers, private sector executives, and development partners under the timely theme: "Making Africa's Capital Work Better for Africa's Development."
This year's meetings carry heightened significance, as they coincide with the end of an era—marking the departure of Dr. Akinwumi Adesina after a transformative 10-year presidency. Under his stewardship, the AfDB’s High 5s agenda has reportedly improved the lives of more than 565 million Africans, with major strides in healthcare, infrastructure, food security, and industrialization.
Opening ceremonies were graced by an array of dignitaries, including Ghanaian President John Dramani Mahama—whose arrival via his brother’s private jet stirred public conversation—former Mozambican President Joaquim Chissano, and Comorian President Azali Assoumani. Their attendance underscored the weight of the leadership transition underway at the AfDB.
Tributes poured in for Dr. Adesina, especially highlighting achievements like the Emergency Food Production Facility, which yielded 44 million tons of food to mitigate the impact of global supply disruptions, particularly following the Ukraine conflict. The Bank's reach has expanded notably, delivering better healthcare access to 128 million people and improving transport for 121 million others.
Yet, amid the celebrations, challenges loom. The United States’ recent $555 million funding cut to the AfDB and its African Development Fund (ADF) has stirred concern, with the Bank now looking eastward to Gulf nations and China for alternative support. At the heart of the meetings is the ADF’s $25 billion replenishment goal, critical for sustaining development momentum.
Five contenders are now vying to succeed Dr. Adesina, each proposing distinct pathways for Africa's premier financial institution. South Africa’s Swazi Tshabalala Bajabulile advocates structural reform for faster infrastructure rollout, while Senegal’s Amadou Hott emphasizes domestic resource mobilization. Zambia’s Samuel Munzele Maimbo is pushing for intra-African trade and innovative debt solutions.
One standout success story spotlighted during the meetings is the Lusophone Compact—an initiative backed by Portugal that has already deployed €214 million into impactful projects in Portuguese-speaking African nations, including Cabo Verde and Angola.
As discussions intensify, a call for African self-reliance has emerged as a dominant theme. Leaders stressed the need to fully harness the African Continental Free Trade Area (AfCFTA) to counteract the pressures of shifting global trade policies, such as recent U.S. tariffs affecting 47 African economies.
The continent now awaits a crucial decision. The AfDB’s next president will be elected on May 29, requiring broad support from both African and non-African shareholders. As attention turns to that vote, Dr. Adesina’s final message echoes through the conference halls: "Leadership may change, but the mission endures."
