With the election of Sidi Ould Tah from Mauritania recently as the new President of the African Development Bank, AfDB, the tenure of Dr Akinwunmi A. Adesina is gradually coming to an end. He has transformed the Bank into a people-centred financial institution despite challenges in the last ten years.

With a strong academic background, including a Ph.D. in Agricultural Economics and professional experience spanning regional organisations, foundations and government, he brought a diverse perspective to the AfDB when he assumed office in 2015. His tenure marked a transformative era for the institution and the African continent. Adesina’s visionary leadership was hinged on the “High 5s” Agenda: Light Up and Power Africa, Feed Africa, Industrialise Africa, Integrate Africa, and Improve the Quality of Life for the People of Africa. That agenda strategically addressed critical developmental challenges and was instrumental in guiding the AfDB’s operations. 

Commendable is his focus on leveraging technology, innovation, and partnerships to unlock billions of dollars in financing to support agribusinesses, infrastructure, and climate resilience. The former Nigerian Agriculture Minister’s advocacy for sustainable development aligns with global efforts to combat climate change while ensuring that Africa’s economic growth is inclusive. For 10 years, Adesina was unrelenting in turning the Bank into a globally respected financial institution, where it was ranked as the best multilateral financial institution in the world. Under his leadership, the Bank achieved the largest capital increase in its history, growing its capital from $93 billion in 2015 to $318 billion today.

The Bank also achieved its highest replenishment of the African Development Fund, ADF, raising $8.9 billion to support lower-income countries under his leadership. Adesina will be remembered for placing people in the centre of his agenda, as over 565 million people’s lives were impacted in the past decade as infrastructure development remained a central focus of his leadership. But despite Adesina’s success, his tenure was not without controversy, as there were allegations of preferential appointments and conflicts of interest raised by whistleblowers within the AfDB. He was finally cleared of wrongdoing by the bank’s ethics committee after an internal investigation and external scrutiny.

As Africa faces unprecedented challenges and opportunities in the 21st century, leaders like Akinwunmi Adesina are needed. His blend of expertise, leadership and unwavering commitment offers a blueprint for sustainable development that other leaders can emulate. As he prepares to bow out as AfDB’s president, he will be remembered as a pan-African reformer, a proponent of dignity-based development and a visionary with the courage to challenge global paradigms. Adesina also strongly supported Nigeria’s developmental efforts during his tenure at AfDB.

We urge the incoming president to strive to surpass his predecessor’s achievements, re-enacting Adesina’s passion for Africa with dedication and accountability.