Dr. Akinwumi Adesina has concluded his decade-long tenure as President of the African Development Bank Group, marking the end of an era. A farewell ceremony was held at the Sofitel Hotel in Abidjan, where African leaders, development partners, and bank staff gathered to recognize his contributions. Nigeria’s Industry Minister, Dr. Doris Nkiruka Uzoka-Anite, represented President Bola Ahmed Tinubu and praised Adesina’s impact, stating that he has shown how development can transform millions of lives.
During his leadership, the bank’s High 5 strategic priorities impacted 565 million people, and the capital base grew from $93 billion in 2015 to $318 billion in 2024. The bank maintained its AAA credit ratings throughout his tenure and became the first multilateral development bank to deploy synthetic securitization. In 2024, it launched a private sector hybrid capital transaction worth $750 million.
The African Development Bank Group provided over $102 billion in support for Africa and invested over $55 billion in infrastructure, including energy, water, and sanitation, roads, transport corridors, and digital infrastructure. The bank’s concessional financing window, the African Development Fund, was named the second-best concessional financing institution globally.
Former Nigerian Vice President Yemi Osinbajo paid tribute to Adesina’s visionary leadership, stating that great leadership is not just about responding to a crisis but about preparations made long before. Adesina thanked his staff, calling them the bank’s greatest asset, and acknowledged the support of his wife, Grace.
The bank’s institutional culture fostered remarkable career advancement opportunities, with 236 staff members receiving promotions during Adesina’s tenure. The commitment to gender equality was notable, with the percentage of women Vice Presidents increasing from 14% in 2015 to 44% in 2025.
As Dr. Sidi Ould Tah prepares to assume the presidency on September 1, 2025, Adesina offered a message of confidence in institutional continuity. He stated that leadership may change, but the mission remains, and the bank’s direction is clear, its resolve strong, and its commitment to Africa’s development unshakable. The African Development Bank Group’s transformative work has earned international recognition, and its legacy will continue to shape the continent’s development landscape.
