Five Candidates Vie for the African Development Bank Presidency

ABIDJAN, Côte d’Ivoire – The African Development Bank (AfDB) is poised for a crucial leadership transition, with its Board of Governors set to elect a new president on May 29, 2025, during the bank’s Annual Meetings. The election will determine the successor to Dr. Akinwumi Adesina, whose transformative second five-year term is set to conclude on August 31, 2025. This decision comes at a pivotal moment for Africa’s premier development finance institution, which holds a significant capital base reported at $318 billion, as the continent grapples with complex economic headwinds and pursues ambitious development aspirations.  

The AfDB President is elected for a five-year term, renewable once, by the Board of Governors, which typically comprises finance ministers or central bank governors from the bank’s 81 member states. Five candidates, each with extensive experience in finance, development, and government, have been officially cleared to contest the presidency, reflecting the diverse regional and linguistic fabric of the continent. They include Mr. Amadou Hott of Senegal, Dr. Samuel Munzele Maimbo of Zambia, Dr. Sidi Ould Tah of Mauritania, Mr. Abbas Mahamat Tolli of Chad, and Ms. Bajabulile Swazi Tshabalala of South Africa.

Their varied backgrounds suggest a complex interplay of regional interests and political dynamics, particularly given the election’s requirement for a “double majority”—a majority of votes from African member states (who hold roughly 60% of voting power) and a majority of overall votes.  

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Candidates at a Glance

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The incoming AfDB president will take the helm at a time when the continent faces a confluence of challenges, including food insecurity, a mounting debt crisis, the escalating impacts of climate change, regional conflicts, and the urgent need to create jobs for its burgeoning youth population. The AfDB’s 2025 African Economic Outlook (AEO) projects a resilient economic growth of 3.9% in 2025, and underscores persistent issues such as double-digit inflation in 15 countries and high interest payments consuming significant portions of government revenue.  

The new leadership will confront an environment of increased global uncertainty and diminishing concessional financing. This reality places a premium on innovative resource mobilization and strategic partnerships. The AEO 2025 highlights the potential for Africa to mobilize an additional $1.43 trillion in domestic resources through efficiency gains alone. Key tasks for the next president will therefore include spearheading efforts to mobilize substantial domestic and international capital, particularly from the private sector, in line with the Ten-Year Strategy’s goal of tripling private sector financing by 2033. Addressing Africa’s vast infrastructure deficit, estimated at $100-$170 billion annually, will be paramount. Furthermore, enhancing climate change resilience, promoting green growth, managing debt sustainability, and improving the Bank’s institutional efficiency and project delivery speed are critical imperatives repeatedly voiced by the candidates themselves.  

The Contenders: Profiles and Priorities

Mr. Amadou Hott (Senegal)

With over 25 years in ministerial and senior executive roles, Mr. Hott was Senegal’s Minister of Economy, Planning and Cooperation (2019-2022), guiding the nation through the COVID-19 pandemic and reforming public-private partnership frameworks. He previously served as the AfDB’s inaugural Vice President for Power, Energy, Climate Change and Green Growth (2016-2019) and, more recently, as Special Envoy of the AfDB President for the Alliance for Green Infrastructure in Africa (AGIA), where he mobilized nearly $300 million. His background also includes experience in sovereign wealth funds, investment banking, and a board membership at Afreximbank, from which he resigned to pursue the AfDB presidency. Mr. Hott holds an MSc in Financial Markets and Banking and a Bachelor’s in Economics from Paris 1 Panthéon-Sorbonne University, alongside studies at New York University and Louis Pasteur University, Strasbourg.  

Mr. Hott’s vision centers on fostering Africa’s self-reliance, making the Bank an instrument to achieve this by emphasizing domestic resource mobilization, tapping into what he identifies as Africa’s $4.5 trillion domestic savings and investment capacity, and strengthening local capital markets. He advocates for tripling private sector engagement in the Bank’s portfolio within a decade and modernizing the AfDB for greater speed, scale, and impact through digitalization and talent management. Infrastructure, particularly energy (citing the Mission 300 initiative), transport, and digital connectivity, is a key focus to boost intra-African trade, alongside reforming the African Development Fund (ADF) to access capital markets. His proposal for an African rating agency aims to counteract perceived biases in global ratings that inflate borrowing costs for African nations. The official nominee of Senegal , Mr. Hott’s candidacy has faced some scrutiny following a recent audit that revealed underreported public debt in Senegal during his ministerial tenure, although he has not been directly implicated. His emphasis on “self-reliance” and leveraging Africa’s internal financial strength, backed by his investment banking acumen, suggests a push for the AfDB to become a more assertive financial catalyst, potentially embracing more market-oriented solutions.  

Dr. Samuel Munzele Maimbo (Zambia)

Dr. Maimbo brings over 30 years of development finance experience across more than 40 countries. He currently serves as Vice President for Budget, Performance Review, and Strategic Planning at the World Bank and was formerly Chief of Staff to World Bank Presidents David Malpass and Ajay Banga. A significant achievement was his leadership as Director of IDA Resource Mobilization, overseeing a record $93 billion replenishment for IDA20. His earlier career included roles as a Bank Inspector at the Bank of Zambia and an Auditor at PricewaterhouseCoopers. Dr. Maimbo earned a PhD in Public Administration (Banking) from the University of Manchester, an MBA in Finance from the University of Nottingham, and a BSc in Accounting from Copperbelt University, Zambia. He is a Fellow Chartered Certified Accountant (FCCA, UK).  

Dr. Maimbo’s foremost priority is to accelerate Africa’s growth at pace and scale to tackle debt, inequality, and unemployment, with a core theme of implementation and delivering tangible results. He plans to enhance financial management and debt relief through modernized systems and regional debt forums, while prioritizing domestic revenue mobilization. Inclusivity is key, with proposals to empower youth (including a youth council at AfDB), women, and underserved communities, alongside support for agriculture and infrastructure. He aims to strengthen partnerships, leveraging private sector investments, multilateral collaboration, and tapping continental resources like pension funds for the ADF. Climate action, through strengthened insurance systems, climate-smart agriculture, and responsible renewable energy, is also central. Endorsed by both the Southern African Development Community (SADC) and the Common Market for Eastern and Southern Africa (COMESA) , Dr. Maimbo, who describes himself as an “unconventional candidate” , emphasizes a hands-on approach to making the AfDB more nimble by overhauling its internal “budget, talent, and the plumbing”. His “magic wand” wish for policy consistency across the continent underscores a pragmatic view on fostering private sector confidence.  

Dr. Sidi Ould Tah (Mauritania)

With a career spanning over four decades in development finance , Dr. Ould Tah served as President and Director General of the Arab Bank for Economic Development in Africa (BADEA) for ten years (2015-2024), during which its assets grew from $4 billion to nearly $7 billion. He is a former Mauritanian Minister of Economy and Finance and has held positions with the Islamic Development Bank and the Arab Authority for Agricultural Investment and Development. He also represented Mauritania as a governor on the boards of the AfDB, World Bank, and IsDB. Dr. Ould Tah holds a PhD in Economics from the University of Nice Sophia Antipolis. He is fluent in Arabic, French, English, Spanish, and Portuguese.  

Dr. Ould Tah’s rallying cry is, “Let’s not manage development, we must accelerate it,” envisioning an AfDB that acts as a catalyst for transformation. A cornerstone of his strategy is to multiply the impact of every dollar invested into ten dollars for Africa’s development, aiming to mobilize $400 billion annually through blended finance, green bonds, and AAA-backed guarantees, partly by leveraging his connections to oil-rich Middle Eastern nations. He advocates for reforming Africa’s financial architecture through better coordination among the continent’s financial institutions. Other priorities include building resilient infrastructure to address AfCFTA implementation gaps, harnessing Africa’s demographic dividend via youth-focused education and vocational training reforms, promoting an energy mix for climate action, and enhancing institutional efficiency through speed, synergy, scale, and the integration of digital solutions like AI and data analytics. His leadership at BADEA, with its strong Arab ties, and his explicit focus on financial leverage suggest an ambition to significantly scale up AfDB’s operations by tapping new capital pools and fostering greater synergy among African DFIs. His campaign website is teamouldtah.com.  

Mr. Abbas Mahamat Tolli (Chad)

Mr. Tolli has over 20 years of experience in national and regional institutions. He is the former Governor of the Bank of Central African States (BEAC) (2017-2024), where he spearheaded monetary policy and financial stability reforms in the CEMAC region. His career also includes roles as President of the Development Bank of Central African States (BDEAC), Chadian Minister of Finance, Chadian Minister of Infrastructure, and Secretary General of the Central African Banking Commission (COBAC). Mr. Tolli earned a degree in Business Administration from the University of Quebec and a diploma in Economics from the National School of Administration (ENA) in Paris. He is fluent in French, English, and Arabic.  

Mr. Tolli asserts that Africa’s enduring problem is its productivity gap, stemming from a significant infrastructure deficit. His priorities include fostering economic self-reliance and food security alongside infrastructure development. He calls for an operational overhaul of the AfDB, urging it to “do more, move faster, and work smarter” by boosting public-private partnerships and digitizing financial tools. Stronger governance to reduce leakages from fiscal mismanagement and inefficiency is another key focus. He envisions a bank that is “truly pan-African—transparent, accountable, and inclusive”. Endorsed by the Economic Community of Central African States (ECCAS) , Mr. Tolli’s extensive experience in regional central banking offers a strong understanding of macroeconomic management from a Central African perspective. His call for a “truly pan-African” institution may resonate with those advocating for equitable representation and benefit distribution across the continent.  

Ms. Bajabulile Swazi Tshabalala (South Africa)

Ms. Tshabalala brings nearly three decades of experience in finance, treasury management, and capital markets. She served as the AfDB’s Senior Vice President (November 2021 – October 2024) and, prior to that, as Vice President for Finance and Chief Financial Officer (2018-2021), where she led the Bank’s financial response to the COVID-19 pandemic and pioneered hybrid capital financing. Her previous roles include CEO of the Industrial Development Group (IDG), and leadership positions at Old Mutual, Standard Bank, and Transnet, where she managed large infrastructure projects and resolved pension fund deficits. She holds an MBA from Wake Forest University (USA), a BSc in Economics from Lawrence University (USA), and completed the Oxford Fintech Programme.  

Ms. Tshabalala’s vision is encapsulated in her “LiFT Africa” agenda: Large-scale Infrastructure, Financial Innovation and private sector development, and Transforming the AfDB. Infrastructure is a core focus, seen as the foundation for sustainable growth, aiming to close the continent’s $100-$170 billion annual gap. She plans to expand innovative financing solutions like hybrid capital and bolster private sector growth. Transforming the AfDB into a financially strong, results-driven, high-performance institution is critical, with a goal to cut project approval and processing times by 50%. Her agenda also embeds gender equality and youth empowerment in the Bank’s operational strategy and emphasizes climate finance for resilient infrastructure and renewable energy. Endorsed by the South African government and the African Trade and Investment Council (ATIC) , Ms. Tshabalala’s deep institutional knowledge as a former AfDB Senior VP and CFO positions her as a candidate offering both continuity and innovation. Her “LiFT Africa” agenda presents a structured plan, and her focus on execution targets signals a pragmatic, results-oriented approach. If elected, she would be the first woman to lead the AfDB in its history. Her candidacy arose after South Africa chose to nominate her separately, despite SADC having endorsed Dr. Maimbo, adding a layer of political complexity to the race. Her campaign website is bstforafrica.com.  

The Election and What Lies Ahead

The AfDB’s presidential election process involves several stages. Candidates submitted their detailed Vision Statements by March 21, 2025. They are scheduled for a “conversation” with the Board of Governors on May 28, 2025, providing a final platform to present their case before the formal election by secret ballot on May 29.  

The outcome is keenly anticipated, as the chosen leader will guide the AfDB through a critical period. They will need to demonstrate exceptional diplomatic skill in navigating a complex global environment, building consensus among diverse member states, and championing Africa’s development agenda on the international stage. The election is more than the selection of a chief executive; it is a geopolitical event that will reflect Africa’s agency and its evolving relationship with global partners. The new president must balance the technical demands of managing a major financial institution with the statesmanship required to advance the continent’s interests.

The challenges are immense, but so too are the opportunities. The next AfDB president will inherit an institution with a powerful mandate and significant resources, tasked with unlocking Africa’s vast potential and steering it towards a future of shared prosperity and resilience. The decision made in Abidjan will undoubtedly shape the trajectory of African development for years to come.