Five contenders are competing for the presidency of the African Development Bank (AfDB), with the election set for Thursday during the institution’s annual meeting in Abidjan, Côte d’Ivoire.
The leadership race comes at a critical time as the AfDB’s $318 billion capital becomes increasingly central to Africa’s development ambitions. Global shifts in development finance—dwindling concessional funding, rising borrowing costs, and reduced aid from wealthy nations—have heightened the importance of strong leadership at the bank.
Swazi Tshabalala Bajabulile, a veteran banker from South Africa and the only woman in the race, previously served as the AfDB’s senior vice president. She plans to reform the bank’s internal structure to better deliver on large-scale infrastructure goals. Tshabalala believes well-executed infrastructure projects will unlock Africa’s vast potential in minerals, finance, and trade. She also intends to expand innovative financial tools, including hybrid capital.
Amadou Hott, former economy minister of Senegal and a seasoned financier, wants to make African economies more self-reliant. His strategy includes mobilising local revenue, increasing tax collection, and structuring investment-ready projects to attract private capital. Hott pointed to Africa’s low tax-to-GDP ratio—16% compared to the OECD’s 34%—as a major hurdle to development.
Samuel Munzele Maimbo, currently on leave from his position as vice president at the World Bank, is running with the backing of the Southern African Development Community (SADC) and the Common Market for Eastern and Southern Africa (COMESA). The Zambian technocrat says Africa must fix its internal systems to enable seamless trade and finance between nations. His priorities include improving data collection, simplifying regulations, and pushing for integrated strategies on infrastructure and debt sustainability.
Sidi Ould Tah, a former finance minister of Mauritania, has led the Arab Bank for Economic Development in Africa for the last decade. He envisions the AfDB as a driver of economic sovereignty and aims to unlock new capital sources, reform financial systems, formalise the informal economy, and push for climate-resilient infrastructure. Tah argues that strategic partnerships could turn every dollar raised by the bank into ten dollars of productive capital.
Abbas Mahamat Tolli, the Chadian former finance minister and ex-head of Central Africa’s regional central bank, is advocating for an overhaul of the AfDB’s operating model. Tolli wants to enhance transparency, reduce inefficient spending, and digitize financial systems. His agenda focuses on agriculture, economic self-sufficiency, and stronger public-private partnerships. Reflecting on his personal journey—fleeing civil war as a child and tending goats—Tolli says his life experience equips him to understand the continent’s deepest challenges.
