As the African Development Bank (AfDB) gears up for a critical leadership transition, five candidates from across the continent have emerged for the presidency of Africa’s premier development finance institution.
The election, slated for May 29, 2025, during the annual meeting of the continental bank’s board of governors, promises to be one of the most consequential in recent history, coming at a time of mounting economic and geopolitical headwinds for the region.
The office is currently held by Nigeria’s former minister of Agriculture, Dr Akinwumi Adesina, whose tenure will expire on August 31 this year. Adesina will serve out his second five-year term and step down on that date.
The contenders are Ms Bajabulile Swazi Tshabalala of South Africa, Mr Amadou Hott of Senegal, Dr Samuel Munzele Maimbo of Zambia, Mr Sidi Ould Tah of Mauritania and Mr Abbas Mahamat Tolli of Chad, all bring rich professional pedigrees and ambitious visions for Africa’s future.
The Contenders And Their Credentials
Swazi Tshabalala of South Africa currently serves as the AfDB’s senior vice president. Tshabalala is the only woman in the race. Her career straddles the public sector, private finance and development finance. She is a former CEO of the Industrial Development Group and served as CFO at the South African Airways.
In her ‘Lift Africa’ strategy, Tshabalala outlines a three-pronged approach: Large Integrated Infrastructure (LI), Financial Innovation and Private Sector Development (F), and Transforming the Bank Internally for Execution (T). Her vision zeroes in on Africa’s chronic infrastructure gap, from roads and electricity to digital connectivity, as the central constraint to job creation and regional integration.
With her extensive background in investment banking and operations within the bank itself, Tshabalala presents herself as a pragmatic technocrat with a tested grasp of the private sector’s needs and institutional reform.
A former minister of Economy, Planning, and International Cooperation in Senegal, Amadou Hott, also served as AfDB’s vice president for Power, Energy, Climate and Green Growth. A seasoned development banker with stints at the Islamic Development Bank and private equity, he is seen as both technically grounded and politically savvy.
Hott believes that Africa must become more self-reliant in the face of declining aid and shifting global priorities. His platform is built on three pillars: investing in human capital through education and skills development; unlocking job opportunities by making economies competitive via infrastructure and energy; and attracting investments through reforms.
Hott appeals to the youth and private sector, stressing that employment generation and intra-African trade integration must be at the heart of the bank’s next phase. His mix of political experience and multilateral credentials positions him as a formidable contender.
Candidate number three, Dr Samuel Maimbo of Zambia, is a renowned economist and international development specialist, having held senior roles at the World Bank, including Chief of Staff to the President and Director of Finance. With a PhD in Public Policy and deep experience in sovereign finance, he brings a sharp institutional reform agenda.
Maimbo identifies Africa as being at a crossroad, where the time for incremental change is over. His vision calls for strengthening the Bank’s governance, diversifying leadership, investing in staff and modernising financial instruments. He is a vocal advocate for tackling Africa’s debt crisis through sustainable mechanisms and calls for rationalising the continent’s risk premium.
His results-driven orientation and focus on institutional efficiency could resonate with member countries seeking a strong manager and reformer-in-chief.
Currently, the director-general of the Arab Bank for Economic Development in Africa (BADEA), Sidi Ould Tah of Mauritania, has accumulated over two decades of experience in economic development. He previously served as Mauritania’s Minister of Economic Affairs and Development.
Tah’s pitch revolves around transforming Africa’s wealth into prosperity – especially by promoting value addition, unlocking the potential of women and youth, and boosting micro, small and medium enterprises (MSMEs).
He emphasises domestic resource mobilisation, noting that Africa has untapped sources like pension funds that could be deployed for development.
Tah’s experience at BADEA provides him a continental perspective on financing instruments and his strong emphasis on MSMEs aligns with the reality that these businesses make up 90 percent of Africa’s economy.
The governor of the Bank of Central African States (BEAC), Abbas Mahamat Tolli from Chad who was the former Minister of Finance in his country, is the dark horse of the race. His candidacy reflects deep central banking experience and a clear-eyed focus on fiscal responsibility.
Tolli’s core message is pragmatic: reduce Africa’s high commercial and logistical costs, diversify economies, and address the continent’s reliance on food imports. He identifies renewable energy, infrastructure, and agriculture as priority areas.
While less prominent than his rivals in development finance circles, Tolli’s monetary policy expertise could prove valuable for a bank increasingly involved in regional financial stability. He champions practical solutions and tangible results, calling for faster project execution and decentralised development strategies.
According to the bank’s election timetable, the Board of Governors has until May 28 to hold closed-door sessions with each of the five contenders, with the election occurring the next day.
By tradition and charter, the AfDB president must garner a dual majority: a majority of regional member countries and a majority of shareholder voting power, which includes non-African countries such as the US, Japan and several EU members.
This complex voting matrix often leads to behind-the-scenes diplomacy, regional lobbying, and alignment among economic blocs like ECOWAS, SADC and the Maghreb. Political compatibility, managerial experience, and institutional knowledge often weigh as much as technical merit.
The only female candidate, Tshabalala stands out as a continuity candidate, with deep institutional knowledge and strong operational experience within the bank. She may appeal to both African shareholders seeking stability and non-regional members looking for efficient execution.
Senegal’s Hott’s high-profile ministerial role and international engagement offer him political clout and a reformist edge. His ties to both AfDB and the wider multilateral system make him a strong regional pick, especially among Francophone West African states.
While Maimbo represents the technocrat’s choice, with his reformist zeal, clarity of purpose and World Bank pedigree, his pitch may appeal to donors and non-regional shareholders hungry for governance reforms and greater operational efficiency.
Tah’s strong support for MSMEs and domestic capital mobilisation is likely to find resonance among smaller African economies. His economic diplomacy at BADEA gives him leverage among Arab and Sahelian nations.
Though the least visible internationally, Chad’s Tolli, may find appeal as a consensus candidate from Central Africa. His central banking experience could be valuable in steering the AfDB through global financial uncertainty.
As Africa confronts climate shocks, debt distress, joblessness and a scramble for its natural resources, the choice of who leads its premier development institution is more important than ever.
The incoming president will shape not only the bank’s policy direction but also Africa’s economic architecture in an increasingly fractured global order. Come May 29, the continent, and the world, will be watching.
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