Mauritanian economist Dr Sidi Ould Tah has officially taken the reins as the 9th President of the African Development Bank Group (AfDB), pledging to steer the institution through turbulent times and drive Africa towards “a robust and prosperous” future.
The swearing-in ceremony took place on Monday at the Sofitel Abidjan Hôtel Ivoire in Côte d’Ivoire, in the presence of African heads of state, ministers, diplomats, and development partners. Among the dignitaries were Côte d’Ivoire’s President Alassane Ouattara, Mauritania’s President Mohamed Ould Ghazouani, Congo’s Economy Minister Ludovic Ngatsé, outgoing AfDB President Dr Akinwumi Adesina, as well as senior representatives from international organisations and the private sector.
At precisely 12:05 GMT, Tah took the oath before the Bank’s governors – finance ministers and central bank chiefs from its 81 member countries. Minutes later, he delivered his maiden speech, declaring: “The eyes of Africa are on us. The youth is waiting. The time is for action.”
The 60-year-old development finance veteran was elected on 29 May 2025 with over 76% of the votes, succeeding Nigeria’s Adesina, who completed a transformative decade at the helm. Tah’s election signals a desire among AfDB shareholders to reinforce the Bank’s role as a powerhouse for development finance, regional integration and climate resilience.
A seasoned technocrat, Tah previously served as Mauritania’s Minister of Economy and Finance (2008–2015) and, since 2015, as President of the Arab Bank for Economic Development in Africa. His experience in international cooperation and development management has made him a respected figure in global finance.
But he takes charge at a challenging moment. The United States – traditionally a key contributor – is preparing to slash $500 million in support for AfDB projects targeting low-income countries. Tah has hinted at tapping new funding sources, including partnerships with Gulf nations, to plug the gap.
Outlining his priorities, the new AfDB chief highlighted three urgent challenges: dwindling foreign aid, rising debt burdens, and the intensifying impact of climate change. He stressed that peace and stability were essential foundations for Africa’s progress.
“The mission that unites us,” he said, “is to build a resilient, prosperous Africa – one that offers opportunity to its people, especially the youth.”
The AfDB, one of the world’s largest multilateral development lenders, is financed through member subscriptions, capital raised on global markets, and loan repayments. Tah’s stewardship is expected to shape its direction for years to come as the continent confronts economic headwinds and the climate emergency.
