Sidi Ould Tah, former finance minister of Mauritania, was elected president of the African Development Bank Group (AfDB) on Thursday.
The announcement came from Kaba Niale, Ivory Coast’s planning and development minister and chair of the bank’s board of governors.
Tah’s election took place during the AfDB’s annual meetings in Abidjan, Ivory Coast’s largest city, by the board of governors.
This decision-making body includes finance ministers and central bank chiefs from 81 member countries, both regional and non-regional.
Tah has held senior positions in multilateral institutions and has been president of the Arab Bank for Economic Development in Africa since 2015.
He will officially take office on September 1, succeeding current AfDB President Akinwumi Adesina after his second five-year term.
Founded in 1964, the African Development Bank Group consists of the African Development Bank, African Development Fund, and Nigeria Trust Fund.
Its mission is to foster sustainable growth and reduce poverty across Africa, supported by 54 African and 27 non-African shareholder countries.
Tah’s election marks a new chapter for the AfDB, promising continued commitment to Africa’s economic development.
As the continent faces growing challenges, his leadership will be crucial to advancing Africa’s prosperity and stability.
