In a heartfelt farewell address at the opening ceremony of the African Development Bank (AfDB) Group’s annual meetings in Côte d’Ivoire, President of the Bank Akinwumi Adesina, reflected on a decade of transformative leadership that, according to him, was driven by passion, purpose, and unwavering commitment to Africa’s progress.
“This is my last annual meeting as President of the African Development Bank,” Adesina said, addressing a packed audience of dignitaries, development partners, and international stakeholders. “I earnestly gave Africa my heart, my mind, and my all. I fought for what I believed were in Africa’s best interests, every single day and at every turn in my 10 years as president.”
Adesina, who assumed office in 2015, highlighted key achievements under his leadership, describing the last ten years as the most financially impactful era in the Bank’s history. According to him, the AfDB disbursed $59 billion to African financial institutions during his tenure nearly half of the Bank’s disbursements since its founding in 1964.
“From its establishment in 1964 until 2014, the Bank approved $118 billion in loans. Under my leadership, we approved $102 billion in the last ten years alone,” he said, underscoring the scale of progress achieved.
Beyond sheer financial metrics, Adesina emphasized the transformational impact of the Bank’s interventions supporting a wide range of institutions from commercial banks to regional and multilateral development finance institutions. These efforts, he noted, have strengthened the continent’s financial architecture and deepened access to capital across Africa.
AfDB Capital Triples to $318 Billion
Another landmark achievement Adesina celebrated was the tripling of the Bank’s capital base during his tenure. When he took office, the AfDB’s capital stood at $93 billion. A decade later, that figure has soared to $318 billion, reflecting what he described as “extraordinary support and confidence” from shareholders.
“Thanks to our African Development Fund donors, we raised $8.9 billion for ADF16 the largest ever in the history of the fund since 1973,” he noted. “And through innovative financial frameworks, we have positioned the ADF to mobilize an additional $27 billion from global capital markets.”
Strategic Partnerships and Pan-African Impact
Adesina also highlighted the AfDB’s strategic alignment with key continental institutions such as the African Union (AU). Under his leadership, the Bank provided:
- $11.5 million in institutional support to the AU,
- $17 million to support the African Continental Free Trade Area (AfCFTA), and
- $27 million to bolster the Africa Centres for Disease Control and Prevention (Africa CDC).
Moreover, the launch of the African Investment Forum in 2018 a platform to accelerate project financing has since mobilized $225 billion in investment interest across various sectors, showcasing the bank’s role as a catalyst for growth and infrastructure development on the continent.
A Legacy of Impact
Reflecting on the broader human impact of his tenure, Adesina stated that the AfDB’s programs and investments have touched the lives of 565 million people across Africa.
“These are not just numbers,” he said. “They represent real change access to power, water, finance, and opportunity.”
Though stepping down as AfDB President, Adesina vowed to continue serving Africa in new capacities.
“I am thoroughly convinced that God did not make a mistake in creating me as an African,” he said with conviction. “I will continue to serve Africa today and well into the future by God’s grace.”
As his presidency draws to a close, Akinwumi Adesina leaves behind a legacy of growth, innovation, and continental pride an era that redefined the AfDB’s role in Africa’s development story.
