The African Development Bank (AfDB) has elected Mauritania’s former finance minister, Sidi Ould Tah, as its new president. The announcement was made during a vote held in Abidjan, the Ivorian capital, marking a significant milestone for the continent’s financial institution.
Sidi Ould Tah, an economist with a strong track record in finance and development, will serve as the ninth president of the Bank. His election comes at a crucial time as the AfDB seeks to boost economic growth and sustainable development across Africa.
The decision was made by the Bank’s Board of Governors, composed of:
- Finance and Economy Ministers
- Central Bank Governors
- Representatives from 81 regional and non-regional member countries
The Board is the highest decision-making authority of the African Development Bank Group.
This leadership change marks a new chapter for the AfDB, which plays a key role in:
- Funding infrastructure projects
- Supporting private sector investment
- Addressing Africa’s development challenges
Sidi Ould Tah’s expertise and vision are expected to drive innovative approaches to economic development on the continent. His presidency promises to strengthen the Bank’s mission, facilitating inclusive growth and poverty reduction across member countries.
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