The 60th Annual Meetings of the Board of Governors of the African Development Bank (AfDB) have wrapped up in Abidjan, Côte d’Ivoire, with one of the top items on the agenda being the selection of a new president for the multilateral institution. The high-level gathering marks the formal start of the process to elect a successor to Dr. Akinwumi A. Adesina, whose second five-year term as President of the AfDB Group comes to an end in 2025.
This year’s meetings, held under tight diplomatic protocols, brought together finance ministers, central bank governors, development experts, and key stakeholders from across the continent and beyond. Delegates discussed the future leadership of one of Africa’s most critical financial institutions, which plays a major role in infrastructure financing, policy advisory, and poverty reduction efforts across the region.
Dr. Adesina, who has served as President since 2015, is widely credited for major reforms within the bank, including stronger capitalisation, enhanced transparency, and a push toward sustainable development financing. His tenure also saw the bank scale up climate financing and improve regional integration efforts.
As his term draws to a close, attention is now focused on the next phase of leadership.
According to sources at the closed-door meetings, discussions among shareholders touched on the qualities required in the next AfDB President—ranging from strategic economic vision to political neutrality, regional diplomacy, and a proven track record in development finance.
A special edition of “Highlights Special”, a segment covering AfDB developments, is set to feature in-depth coverage of the election process, key positions of major shareholder countries, and insight into the identity of the president-elect, who will officially assume office in 2025.
So far, there has been no official confirmation on candidates, but lobbying is expected to intensify in the coming months, with regional blocs and economic powerhouses likely to play strong roles in shaping the outcome.
The African Development Bank operates under a shareholder structure that includes 54 African countries and 27 non-African countries, giving it both regional legitimacy and international financial muscle.
Observers say the next AfDB President will need to balance complex global dynamics—including debt restructuring, climate resilience, digital infrastructure, and food security—while maintaining the bank’s strong credit ratings and developmental mandate.
As the search narrows, all eyes are now on how Africa’s largest development finance institution will shape its future leadership and policy direction in the face of growing economic challenges and opportunities on the continent.
