At the formal closing ceremony of the 2025 Annual Meetings of the African Development Bank Group at the end of May, Dr Akinwumi A Adesina, President and Chairman of the Boards of Directors of the African Development Bank Group, stepped down to make way for the incoming elected president.
Stepping down, Adesina said, “It has been the greatest honour of my life to serve as President of the African Development Bank Group and to serve Africa.”
Remarking on this milestone, Adesina noted that the 2025 Annual Meetings of the African Development Bank Group had seen the attendance over 5 000 delegates, with participants from over 91 countries, the largest attendance in the bank’s history. The annual meetings were held this year in Abidjan, Cote d’Ivoire.
Adesina expressed his appreciation to President Alassane Ouattara and the government of Cote d’Ivoire for hosting the annual meetings and conveyed his gratitude to all who were involved in organising the hosting of the meetings, and all who attended.
“While the annual meetings of the African Development Bank Group are always a good time for reflection and connections and a lot of fun, they also offer us a window into our work. This is a time when you, the Governors of the Bank, converge to better understand, review, discuss and provide guidance in key priority areas of the bank’s finances and operations; when you assess the delivery, results and impact of our work in all the regional member countries across Africa; and when you discuss emerging development trends and how they affect Africa, as well as the role of the bank.
Former finance minister, Mauritanian Sidi Ould Tah was elected as the new President of the African Development Bank Group for a five-year term beginning 1 September.
“Our knowledge products set the pace and tone for our discussions. We launched the African Economic Outlook Report for 2025. We also launched the 2024 Public Service Delivery Index in Africa Report.
“In plenaries and side events throughout the week, we discussed how to mobilise more capital globally and domestically for Africa’s development. Your suggestions, guidance and recommendations as governors have been very helpful.
“As a bank we are increasingly committed to domestic finance mobilisation. Just yesterday, a day before the end of our annual meetings, alongside the Minister of Finance of Nigeria, we signed the extension of the Nigeria Trust Fund for another 15 years by the Federal Government of Nigeria. Nigeria generously provided an additional $500 million to the Nigeria Trust Fund. Thank you Nigeria!
“This is my last session of annual meetings as President of the African Development Bank Group, after completing two five-year terms.
“It has been an extraordinary ten years working together, working with the Board of Governors, working with the Boards of Directors, working with my incredible staff to make things happen.
“We have worked together too, with governments across all of our 81 shareholder countries; with the private sector and civil society; with the youth and women of Africa; with our partners; and with the media, who helped carry and tell our stories.
“Working together, with hands joined, we are able to support and make a difference in Africa.
“We are all one, with hands joined around the opportunities and challenges of Africa, like hands around the baobab tree.
“I will certainly miss our camaraderie and interaction with you all.
“That spirit of togetherness was again evident yesterday, as you rallied to elect a new President of the African Development Bank Group, Sidi Ould Tah. I commend you on your choice and congratulate the President-elect.
“I have known Sidi for many years, and I am confident that he will continue the great work and achievements that we have collectively accomplished over the past ten years.”
In closing Adesina said: “It has been the greatest honour of my life to serve as President of the African Development Bank Group and to serve Africa. I will forever value the shared moments we’ve had these past ten years. My dear wife, Grace and I will deeply miss you all. Thank you all, once again.
“May God bless the African Development Bank Group. May God bless Africa. May God bless you all.
“Until we meet again.”
For more information visit: www.afdb.org
