New AfDB President Ould Tah takes office
Adidjan, Cote d'Ivoire (PANA) - Dr. Sidi Ould Tah was on Monday sworn-in as the ninth President of the African Development Bank Group (AfDB).
Dr. Ould Tah, a Mauritanian, took his oath-of-office, at the helm of Africa’s premier development finance institution succeeding Dr Akinwumi A. Adesina who has completed his two terms, a press release from AfDB said.
Côte d'Ivoire’s President Alassane Ouattara, and his Mauritanian counterpart President, Mohamed Ould Ghazouani, were among those who attended the ceremony.
Dr. Ould Tah, 60, was elected on 29 May 2025 with over 76% of shareholder votes—the highest margin for a first-term president in the Bank's history.
“We will be the bank that bridges divides-between regions, between ambitions and execution, between public and private, between urgency and bureaucracy. Let us move forward together - with urdgency, with unity, and with unwavering accountability.” Ould Tah said in his well-received inaugural speech.
The press release said Dr. Ould Tah, in his inaugural speech outlined four priorities which will guide his presidency in the first 100 days of office: listening intently; launching a fast-track reform agenda; deepening partnerships, and accelerating real solutions as the core priorities.
He reiterated that the Bank will be “attentive, responsive, and capable of setting priorities that matter”.
Dr. Ould Tah note that the Bank will enhance partnerships by working closely with governments, the private sector, and international partners, “so that together we create a financial framework that serves Africa on its own terms”.
Dr Ould Tah acknowledged the presence of Bank partners including Finance in Common, the Alliance of African Financial Institutions, the International Development Finance Club, and the Arab Coordination Group, and pledged his readiness to expand the Bank’s partnership to new players such as sovereign funds, pensions funds and others.
Additionally, he made a commitment to “urgently revisit our investment models to include a dedicated pillar for investment in peace”.
Envisioning a vital role for the Bank as a guide for a continent confronting the 21st century challenges of demographics, technology and climate change, Ould Tah said: “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. Like a navigator guided by the compass, the Bank should help Africa navigate the megatrends toward increased self-reliance, ambition, and agency,” he said.
However, he stressed, this important leadership role in crafting universal solutions "shaped by African perspectives, African priorities, and African agency” must be approached in a selective manner.
“The African Development Bank should not aim to be everything to everyone. It should focus on where it can move the needle most, always with the spirit of partnership.”
He inherits a pan-African institution with robust fundamentals: $318 billion in capital, AAA credit ratings maintained for 10 consecutive years, and the world's highest transparency score for a sovereign portfolio, at 98.8%. Over the past decade, the Bank has approved $102 billion in development financing.
Dr. Ould Tah is the former President of the Arab Bank for Economic Development in Africa (BADEA), where he oversaw a landmark institutional transformation.
Under his leadership, BADEA’s assets grew from $4 billion to nearly $7 billion, annual approvals increased twelvefold and disbursements eightfold; and the institution achieved AA+/AAA credit ratings.
He brings to the Presidency of the African Development Bank Group over four decades of distinguished experience in development banking, economic policy, and institutional transformation.
He also previously served as Minister of Economy and Finance of Mauritania between 2008 and 2015, and Mauritania’s Governor on the Boards of the African Development Bank, World Bank and the Islamic Development Bank, among others.
-0- PANA MA 1Sept2025
