The African Development Bank Group’s 2025 Annual Meetings concluded on Friday after five days of in-depth discussions on Africa’s development future, culminating in the election of Mauritania’s former finance minister, Sidi Ould Tah, as the new president for a five-year term beginning September 1.
The meetings, held in Abidjan, Côte d’Ivoire from May 26 to 30, centered on the theme “Making Africa’s Capital Work Better for Africa’s Development,” urging a shift from reliance on aid to harnessing the continent’s own capital for economic progress.
Secretary General Vincent Nmehielle described the gathering as a “resounding success,” expressing gratitude to outgoing Chairperson of the Boards of Governors, Nialé Kaba, Minister of Economy, Planning and Development, for her “sterling work, dedication and guidance” over the past year.
The event brought together 81 governors, finance ministers, economy ministers, and central bank governors representing each shareholder country in the Bank.
The Annual Meetings also marked significant leadership transitions, with thirteen executive directors completing their terms, resulting in a 75 percent renewal of the board’s composition.
Outgoing President Dr. Akinwumi Adesina warmly congratulated the incoming president.
“I am delighted for my brother and friend on his election as president of the African Development Bank Group. Hearty congratulations! I wish you great success in the years ahead.”
Tributes flowed from global leaders via video messages, including World Bank President Ajay Banga and WTO Director-General Ngozi Okonjo-Iweala.
The Board of Governors, represented by Zambia’s Finance Minister Situmbeko Musokotwan, also expressed appreciation for Adesina’s “remarkable results.”
One of the meetings’ highlights was the signing of an agreement with Nigeria’s Finance Ministry to extend the Nigeria Trust Fund for an additional 15 years, accompanied by a $500 million increase in Nigeria’s contribution.
Adesina praised this “impressive contribution,” emphasizing the fund’s role in supporting concessional financing for low-income regional member countries through a self-sustaining revolving mechanism.
In a poignant farewell, Adesina sang his favorite songs, including Johnny Nash’s “I Can See Clearly Now” and Bob Geldof’s “We Are the World,” reflecting on his decade-long presidency.
“This is my last Annual Meetings as president of the African Development Bank Group, after completing two five-year terms. It has been an extraordinary ten years working together… Thank you for the opportunity, trust and resources you gave me to serve as President of the African Development Bank Group. It has been the greatest honour of my life to serve as President of the African Development Bank Group and to serve Africa.”
The ceremonial handover saw Kaba pass the Bank’s flag to Congolese Economy Minister Ludovic Ngatse, announcing that the 2026 Annual Meetings will be held in Congo Brazzaville from May 25 to 29.
Speaking on behalf of Ivorian Prime Minister Robert Beugre, Kaba thanked participants “for contributing to the strategic reflection and solidarity with a view to steering our continent to a better future.”
Alongside the official sessions, the meetings featured 60 side events, cultural activities, and a spouse’s programme, adding vibrant dimensions to this year’s gathering.
