New AfDB Chief Sworn In, Calls for African Self-Reliance

Addis Ababa, September 1, 2025 (ENA) -- Sidi Ould Tah has been sworn in as the 9th president of the African Development Bank (AfDB) Group, succeeding Akinwumi Adesina, whose 10-year tenure ended on Monday.

“Africa is watching. The youth are waiting. It is time for action,” declared Dr. Sidi Ould Tah on Monday as he took office as the ninth president of the African Development Bank Group or AfDB.

In his inaugural speech, he laid out an ambitious vision centered on self-reliance, partnerships, and youth empowerment.

The new president introduced four “cardinal points” to guide the bank’s direction under his leadership.

“Africa must look north, south, east, and west. Not to imitate, but to draw wisdom and strength from every direction while defining its own course,” he said.

Ould Tah emphasized that development and peace are inseparable. “There is no development without peace, and there is no peace without development,” he said, calling for greater investment in stability alongside economic growth.

He noted that Africa’s resilience during past crises, including the 2008–2009 financial crisis and the COVID-19 pandemic, proves its capacity to weather global challenges.

In his first 100 days, Ould Tah stated that he would focus on four key priorities: listening to stakeholders, accelerating institutional reforms, deepening partnerships, and delivering real solutions to unlock Africa’s financial and industrial potential.

“We must formalize our economies, strengthen our SMEs, and encourage entrepreneurship,” he said. “Empowering youth and women is essential.”

Ould Tah succeeds Akinwumi Adesina, whose decade-long leadership helped elevate the bank’s global profile.

Established in 1964 and headquartered in Abidjan, the African Development Bank Group is the continent’s premier development finance institution.

With 54 African regional members and 27 non-regional shareholders, it funds infrastructure, energy, agriculture, and private sector development projects across Africa. The bank plays a key role in addressing structural challenges while promoting sustainable development.

Ould Tah acknowledged that the AfDB cannot act alone.

“The bank is already an active member of the MDB’s association and works very closely with the World Bank, IMF, and many other partners around the world,” he said, urging greater collaboration. “We should work hand-in-hand with government, private sector, and our international partners, not in isolation, but in synergy.”

He called on the bank to become a “bar that bridges divides, between vision and execution, between public and private, between urgency and bureaucracy.”

“As I assume duty… I am fully confident that Africa will continue being resilient,” he said. “Together, let us transform Africa’s promise into prosperity. The time for delivery has begun.”