Sidi Ould Tah has formally assumed office as the ninth president of the African Development Bank (AfDB) Group, taking over from Nigeria’s Dr. Akinwumi Adesina, whose 10-year stewardship came to an end on Monday.
Tah, a Mauritanian economist and development finance expert, emerged victorious at the AfDB’s annual meetings in Abidjan, Côte d’Ivoire, where he secured 76.18 per cent of the votes on May 29.
His swearing-in marked the beginning of a new era for Africa’s premier development finance institution.
In his inaugural address, the new AfDB chief pledged to build on the legacy of his predecessors by steering the Bank toward greater relevance in addressing Africa’s pressing socio-economic challenges.
He highlighted debt sustainability, climate change, and peace-building as areas where the institution must step up its interventions.
Commending the outgoing president, Adesina and past leaders for consolidating the Bank’s standing as a key continental institution, Tah assured, “I will work with all stakeholders in a spirit of consultation and collegiality to pursue our collective mission of building a prosperous Africa.”
He also expressed gratitude to President Alassane Ouattara of Côte d’Ivoire for hosting the inauguration and to his country’s president, Mohamed Ould Cheikh El Ghazouani, for mobilising national support for his candidacy.
Tah also acknowledged the backing of Mauritania’s government, civil society, traditional authorities, and the broader African community.
He said his immediate focus within his first 100 days in office would be anchored on four priorities including listening to stakeholders, launching reforms, deepening partnerships, and fast-tracking solutions to Africa’s financing and job creation gaps.
“First, listening with intent to shareholders, partners, and our exceptional AfDB staff to ensure our agenda reflects real-world needs and ambitions.
“Second, launching a reform drive to boost operational speed and dismantle bureaucratic bottlenecks. Third, strengthening partnerships with African and global institutions as well as the private sector to mobilise capital at scale. And fourth, accelerating practical solutions to expand finance access, create jobs, and empower women and youth,” he said.
Tah further stressed the need to broaden the bank’s capital base through fresh alliances with sovereign wealth funds, pension funds, and private investors, stressing that AfDB must be the bridge between vision and execution, between urgency and bureaucracy.
