Building Africa’s prosperity through smart policy and innovation, By Sidi Ould Tah

One of our continent’s most critical challenges is the persistent gap in affordable capital. This challenge has become even more critical with the recent shift in the volume and nature of development assistance. Our renewed strategy calls for a radical rethinking of raising, deploying, and leveraging capital. Building on the successful model demonstrated at BADEA, we envision a future where the Bank and African financial institutions are not only well-capitalised but also fully integrated into a dynamic, continent-wide network.

For more than six decades, the African Development Bank (AfDB) has stood as a steadfast engine of progress on our continent — a beacon of hope and transformation in a land of immense potential but with deep-rooted challenges. Yet, even as we celebrate the Bank’s achievements, we face an era of rapid global change. Successive crises have considerably weakened government finances. New challenges have emerged, ranging from shifting demographic trends and disruptive technologies to volatile worldwide finance and the existential threat of climate change. It is in this context that all institutions must evolve.

Established in 1964 by the Organisation of African Unity and having celebrated its 60th anniversary in 2024, the AfDB has consistently championed the cause of economic and social development. Its mandate has evolved from a focus on government lending to a more inclusive strategy that embraces private sector dynamism, in recognition that sustainable development demands the full mobilisation of Africa’s resources and talent.

As a unified institution comprising the African Development Fund, which provides critical interest‐free loans to the most vulnerable countries, and the Nigeria Trust Fund — a self‐sustaining financial reservoir — the Bank now proudly represents 54 regional and 27 non‐regional member countries. This expansive membership and its track record of transformative projects have left an indelible mark on the entire continent. Its current “High 5” framework, corresponding to its five strategic priorities — Light Up and Power Africa, Feed Africa, Industrialise Africa, Integrate Africa, and Improve the Quality of Life — has already touched the lives of nearly 500 million Africans. It has not only driven pan-African cooperation but has also resonated powerfully with the African Union’s own Agenda 2063.

Yet, even as we celebrate the Bank’s achievements, we are confronted with an era of rapid global change, where the foundations of development finance are being shaken. New challenges have emerged, such as who will finance development and how, shifting demographic trends, disruptive technologies, volatile global finance and the existential threat of climate change. It is in this context that all institutions must evolve. The transformative spirit of the “High 5” is an enduring legacy — but it is now time to sharpen the Bank’s focus and deliver on key priorities.

Today, I introduce a refined strategic vision built upon what I design as the Four Cardinal Points. This new framework does not replace the High 5 initiative; instead, it refines and deepens its intent by concentrating on actions across four interlinked priorities that are most urgently needed in today’s environment:

1. Enhance Access to Capital: Mobilise Africa’s Financial Resources;

2. Reform and Consolidate the Continent’s Financial Systems, Institutions and Talent to Assert Africa’s Global Agency;

3. Harness the Demographic Transformation for Economic Development;

4. Build Climate-Resilient Infrastructure and Robust Value Addition to Natural Resources

First, our most urgent need today is access to affordable capital. Following an accumulation of international crises compounded by our climate and developmental challenges, countries and governments today face solvency and liquidity issues. We must address the chronic challenges of capital access. The limited availability of affordable financing and prohibitive lending costs have long constrained African economies. The successful model I pioneered at BADEA demonstrated that African banks, endowed with an innate understanding of local conditions, can serve as transformative agents if adequately supported with capital.

The strategy I am suggesting seeks to build on this foundation. AfDB should mobilise a broader spectrum of investments — from private sector partners and multilateral institutions to regional development banks — so that the current financing gap (which exceeds $400 billion annually) can be effectively narrowed. Through innovative financial instruments and enhanced risk mitigation strategies, I believe AfDB’s goal should be multiplying every dollar of capital, transforming each $1 raised into $10 or more productive, transformative investment.

Second, in today’s globally interconnected environment — marked by turbulent geopolitical shifts, escalating trade disputes, and the erosion of traditional financial arrangements — Africa must consolidate its financial systems as it asserts its agency on the international stage. Recent developments complicate trade and economic practices that had already shown limits during the COVID-19 pandemic and its aftershocks.

Africa must reengineer its financial architecture, unifying its fragmented institutions into a cohesive, agile network that can effectively manage risk and mobilise capital. This financial consolidation is not merely a technical adjustment but a strategic imperative to ensure that Africa has a powerful, unified voice in global economic forums and is well-equipped to negotiate on more favourable terms.

Third, Africa’s demographic trajectory is extraordinary. In 1960, the population stood at 283 million; today it exceeds 1.5 billion, and by 2050, it is projected to reach 2.5 billion. This explosive growth presents both immense opportunities and significant challenges. The demographic dividends capable of propelling Africa to prosperity will remain untapped unless we drive a structural transformation that generates millions of quality jobs and fully harnesses the potential of our youth.

A key pillar of this transformation is formalising the informal sector. Nearly 83 per cent of Africans work in this vibrant but long-marginalised economy. From small-scale farming to innovative services like rural “e-tractor” operations and urban micro-enterprises, the informal sector is the heartbeat of African economies. We must implement policies and incentives integrating these activities into the formal economy and support transitions from micro to small and scalable enterprises.

This will unlock youth potential, modernise the economy to meet their expectations, and lay the groundwork for
sustainable, inclusive growth. Equally vital is empowering women, who anchor the informal sector and small enterprises yet remain primarily excluded from financial services, technology, and markets. Our vision is to intensify support for women entrepreneurs through targeted training, mentorship, and credit programmes. Empowering women is not only a matter of fairness — they are crucial drivers of economic vitality whose success benefits every sector and community.

Fourth, let us pay attention to another cornerstone of strategic renewal: the commitment to building infrastructure that meets growing needs, helps Africa capture the full value of its resources, and is also resilient to the impacts of climate change. Africa is richly endowed with natural resources, including vast reserves of critical minerals and enormous potential for renewable energy. Yet, much of this wealth is exported in raw form, depriving the continent of the wealth-creating benefits of value addition.

There is need for a strategy that calls for a decisive shift: We must bring down transaction costs and connect resources, people, technologies and markets, and invest in the processing and refining capacities that convert raw materials into high-value products, thereby capturing a larger share of global markets. It must be underpinned by the development of workable industrial strategies based on a twin focus: bridging the infrastructural and digital divide between rural and urban areas and ensuring that investments in infrastructure are designed to withstand future climate change shocks. The focus on resilient infrastructure builds on one of the historic areas the Bank has handled very well.

Underpinning all four of these cardinal points is the digital economy and technology’s role in Africa’s transformation. It is critical to understand that the Four Cardinal Points I outline here are developed at a time when the world has changed fundamentally and will continue to change. The Cardinal Points represent an opportunity to build up efficiency in delivery, which is needed now more than ever, as resources are scarce.

I aim to turn every $1 raised into $10 or more productive investment. Achieving this requires a commitment to leverage financial instruments that maximise the impact of every dollar. It involves systematically reallocating funds into projects that deliver long-term economic benefits, from infrastructure to technology-driven innovations. It also requires a new approach to strengthen Africa’s capital markets to leverage their multiplier effect. We also need to harness existing savings with the latest instruments and other mechanisms, while simultaneously finding ways to improve savings rates across the continent.

Finally, they also serve as a pivot to build in and integrate actions that will support Africa in handling the emergent risks highlighted earlier. Significant milestones have marked the journey to date. The AfDB’s authorised capital has grown from $94 billion in 2014 to $318 billion in 2024, a robust expansion that underscores its ability to scale and innovate. However, despite these gains, a formidable financing gap remains between the established ambitions and current capacities.

To achieve the aspirations of Agenda 2063 and internationally negotiated targets, it is necessary to triple the funding capacity. Every dollar invested must work tirelessly for the long-term development of the continent. This objective is not abstract; it is a tangible, urgent necessity that demands bold, innovative financial strategies and deep, collaborative partnerships.

In embarking on a renewed strategic course, we acknowledge that influential global mega trends will shape Africa’s destiny. Recognising that the geopolitical landscape is in flux highlights the need for a refined vision to help Africa adapt to these changes and position it as a proactive, dynamic player on the world stage.

Cardinal Point 1. Enhanced Access to Capital: Mobilising Africa’s Financial Resources

One of our continent’s most critical challenges is the persistent gap in affordable capital. This challenge has become even more critical with the recent shift in the volume and nature of development assistance. Our renewed strategy calls for a radical rethinking of raising, deploying, and leveraging capital. Building on the successful model demonstrated at BADEA, we envision a future where the Bank and African financial institutions are not only well-capitalised but also fully integrated into a dynamic, continent-wide network. It can be achieved through the following interrelated strategies:

– We must first focus on capitalising the Bank. Innovative solutions to help raise the volume of paid-in capital, such as the one I pioneered at BADEA, would be key. Also, important would-be innovations to reach the needed volumes of funding for the ADF by blending country partnerships and market solutions.

– Expanding beyond traditional lending frameworks to attract more investors — from private sector entities and institutional investors to multilateral development banks — could raise additional capital. This diversification will reduce our reliance on a narrow set of funding sources and lower the overall cost of capital. To do so, innovative financial instruments such as green bonds, social impact bonds, and blended finance mechanisms will be introduced or enhanced. These instruments are designed to appeal to investors who seek both financial returns and social impact, thereby creating a virtuous cycle of capital mobilisation.

AfDB and African banks possess an inherent advantage in understanding local risks, yet many remain limited in scale. By creating regional capital pools and facilitating cross-border lending within the continent, we can unlock economies of scale that reduce interest rates and enhance creditworthiness. Establishing a dedicated platform for regional financial cooperation — modelled on successful international examples — will enable us to pool resources, share risk, and make more substantial, transformative investments.

We will develop robust risk mitigation frameworks to attract private capital and reduce the risk premium that external investors impose. These will include guarantees, insurance mechanisms, and partnerships with international credit agencies to improve the perceived risk profile of African investments. By demonstrating that strong risk management protocols underpin every dollar invested, we will boost investor confidence and catalyse further capital flows into critical sectors.

I aim to turn every $1 raised into $10 or more productive investment. Achieving this requires a commitment to leverage financial instruments that maximise the impact of every dollar. It involves systematically reallocating funds into projects that deliver long-term economic benefits, from infrastructure to technology-driven innovations. It also requires a new approach to strengthen Africa’s capital markets to leverage their multiplier effect. We also need to harness existing savings with the latest instruments and other mechanisms, while simultaneously finding ways to improve savings rates across the continent.

The transformation of capital is not merely a financial exercise; it is a strategic lever that unlocks Africa’s structural transformation. It also requires a shift in the AfDB business model to developing and structuring projects from the start, so they can later be shared with other funders or sold to private investors. This will reduce the time spent holding on assets and increase the turnover of AfDB’s balance sheet to increase collective lending capacity.

Working in partnership with other Multilateral Development Banks while maintaining the uniqueness of the AfDB, which gives it more flexibility in undertaking innovation in finance, will be one of the areas of engagement that I will pursue, crowding in more capital to the Bank and Africa’s priorities. We would also look at working with local and regional African banks, which are well-placed for project origination, with the AfDB providing long-term capital and technical support.

Transformation of capital will require building on the Bank’s successful foray into using diverse financial instruments, such as hybrid capital and Room-to-Run synthetic securitisation, while also exploring bold and innovative approaches being offered across capital markets. To address key concerns, namely debt, liquidity, and the high cost of capital, the Bank will need to leverage its AAA rating and work closely with governments to tap domestic financial resources further.

Expanding access to concessional finance will be critical in lowering capital costs and bridging the multi-trillion financing gap to meet the Sustainable Development Goals and serve Agenda 2063.

Cardinal Point Two. Reforming and Consolidating Financial Systems and Institutions for Global Agency

Africa has a wealth of natural assets and a growing pool of domestic capital that remains largely untapped. Structural inefficiencies, narrow tax bases, and challenges in public financial management have long undermined our capacity to harness these resources fully. By enhancing tax mobilisation, reforming public expenditure, tapping into well-resourced pension funds and developing innovative local financing channels — such as remittance-based instruments and community-based investment schemes — we can reduce our dependency on external funding sources.

A policy that strengthens our financial sovereignty and creates a more self-sustaining economic ecosystem. Efficient domestic resource mobilisation will pave the way for increased public investments in critical sectors such as education, health, and infrastructure, laying a solid foundation for future growth.

In an era of shifting global power dynamics, where new solutions from emerging economic blocs increasingly challenge traditional financial arrangements, Africa must consolidate its financial systems and assert its agency on the international stage. Recent disruptions such as tariff wars, sanctions complicating maritime routes, and challenges to the dominance of traditional currencies have exposed vulnerabilities in our economic structures. These challenges underscore the urgent need for comprehensive financial reform beyond fragmented, country-specific approaches to embrace a unified, continent-wide strategy.

Africa’s burgeoning population is a reservoir of untapped potential. Yet, to truly convert this demographic explosion into a lasting dividend, we must adopt a multi-layered strategy. First, comprehensive policy reforms are needed to streamline the transition of informal enterprises into the formal economy, as described above. This involves creating enabling regulatory environments that simplify business registration and the broader ecosystem for entrepreneurs, providing better and simpler tax systems, and offering access to affordable credit.

The AfDB plays a pivotal role in this transformation. The Bank must drive reforms that strengthen governance, promote accountability, and enhance institutional efficiency across the continent. These reforms must improve the business environment, attract investment, ensure that financial stability is maintained, and debt is managed sustainably. Africa requires reforms that extend beyond individual countries to respond effectively to global pressures.

Strengthening governance at national and regional levels, ensuring financial stability, and enhancing policy implementation must be part of a broader, coordinated effort. The AfDB must lead this charge, driving systemic financial reforms that will build resilience, foster economic integration, and assert Africa’s place in the global economy.

This reform is envisioned as a multi-tiered process. At its core is the need to unify our fragmented financial institutions — from local banks to regional development agencies — into a cohesive, agile pan-African network capable of mobilising capital and managing risk with unparalleled efficiency. Such consolidation will lower the cost of capital and amplify Africa’s voice in global economic forums. By establishing standardised protocols, integrated risk management systems, and transparent reporting mechanisms, we will build a financial ecosystem that commands respect and trust from international investors.

Furthermore, reforming global financial governance is critical to ensuring that Africa is not sidelined in international decision-making processes. Proposals to establish more accurate risk assessments through improved credit rating, recalibrate the rules of global capital allocation, and reform debt management frameworks, are integral to our vision. These reforms will help lower our risk premiums and secure more favourable financing terms, enhancing our economic sovereignty.

Through strategic dialogue with international partners and a commitment to best practices in financial management, Africa will assert its rightful place as a key player in shaping the future of global finance.

Cardinal Three. Harnessing Demographic Transformation for Economic Development

Africa’s burgeoning population is a reservoir of untapped potential. Yet, to truly convert this demographic explosion into a lasting dividend, we must adopt a multi-layered strategy. First, comprehensive policy reforms are needed to streamline the transition of informal enterprises into the formal economy, as described above. This involves creating enabling regulatory environments that simplify business registration and the broader ecosystem for entrepreneurs, providing better and simpler tax systems, and offering access to affordable credit.

By establishing targeted microfinance programmes and sector-specific incubation centres, it’s possible to nurture grassroots innovations and support small and medium enterprises (SMEs) in sectors as diverse as agriculture, artisanry, and digital services. Access to digital marketplaces could effectively link informal and formal business. The rapid expansion of growth-led entrepreneurial ventures across sectors is a catalytic trend that could be another area of potential focus for the Bank.

Moreover, launching extensive skills development initiatives that address current educational gaps and provide
vocational training aligned with market demands is imperative. The future of Africa’s economic growth hinges on building talent for the future. It includes reskilling and upskilling its workforce to meet the demands of AI, digitalisation, and new industrial sectors. Creating an “Africa Skills Passport” could facilitate labour mobility across the continent, enabling African talent to seamlessly move between industries and geographies to meet labor market demands. Vocational training, STEM education, and entrepreneurship support programmes must be prioritised to create a highly skilled, future-ready workforce.

By partnering with local institutions, industry leaders, and international experts, it’s possible to establish training centres focusing on high-demand skills. Special emphasis should be placed on the empowerment of women and youth. Tailored mentorship programmes and access to digital platforms and microcredit will ensure that every population segment contributes to and benefits from economic growth.

Cardinal Point Four. Building Climate-Resilient Infrastructure and Robust Value Addition

Infrastructure development remains the backbone of any sustained economic transformation. Yet, for Africa, this is not simply about erecting roads and bridges; it is about constructing resilient systems that endure the pressures of climate change and drive sustainable value addition.

The reality on the ground is stark. Most African regions face significant infrastructural deficits that hinder economic activity and exacerbate social inequalities. In response, our strategy proposes a comprehensive investment in climate-resilient infrastructure that addresses current needs and future uncertainties, including those brought about by digital infrastructure. This involves upgrading existing networks, building new transportation corridors, and ensuring that energy systems are modern, efficient, and capable of integrating renewable sources. It requires a focus on urbanisation and the adaptation of cities to the new realities of climate change and the demographic trend described above.

Africa must reimagine its industrialisation strategy. The current legacy system of exporting raw materials leave us unable to extract full value from our vast reserves of critical minerals, agricultural produce, and energy resources on our continent. Our strategy demands a radical shift: transforming these resources through beneficiation and value addition.

By investing in processing and refining capacities and by developing regional industrial hubs, we will enhance Africa’s regional integration and elevate its role in global markets. It also requires investing in developing project pipelines and making whole sectors investment-ready and bankable through sovereign and private lending, as well as policy engagement and technical assistance to ensure momentum.

This transformation requires substantial financial investments and a commitment to technological innovation and human capital development. Training our workforce to operate in modern industrial settings and fostering research and development in emerging technologies will ensure our industrial base is competitive globally. The result will be an economy where raw resources evolve into high-value products, creating jobs, boosting exports, and contributing to long-term economic resilience.

This ambition hinges on energy access. With the background of the climate and energy transition debates, it is
imperative to respect Africa’s position as the lowest carbon emitter and the worst affected by climate change. Rather than imposing outright bans on oil and gas investments, the focus should be on a just and gradual transition that enables African economies to harness both renewable and traditional energy sources, while progressively reducing carbon emissions.

AfDB should champion climate and nature financing models that empower Africa to pursue industrialisation and economic growth, ensuring that energy security and affordability remain intact throughout the transition. This balanced approach will allow Africa to achieve sustainable development, while safeguarding its energy needs. At the same time, the impacts of climate change are becoming ever harsher and more visible, affecting African lives and livelihoods. It calls for decisive action on adaptation and on building resilience.

For Africa to thrive, it is essential to foster peace and security, as unstable regions struggle to attract investments, and conflict zones lead to the destruction of infrastructure and mass displacement. AfDB must play a critical role in stabilising vulnerable regions, funding post-conflict reconstruction, promoting job creation, and supporting social cohesion initiatives that reduce economic disparities and prevent further instability.

The integration of rural and urban economies is also paramount. Infrastructure projects must be designed to bridge the gap between rural production centres and urban markets, ensuring that transportation, communications, and energy improvements are inclusive and far-reaching. Investments in digital infrastructure, such as broadband connectivity and data centres, will ensure that geography does not constrain economic activities. By harmonising physical and digital connectivity, we will foster a seamless economic landscape where information and goods flow freely, enhancing productivity and innovation across the continent.

The rise of the data economy presents an unprecedented opportunity for Africa’s industrialisation; digital infrastructure, AI-driven business models, fintech solutions and reliable data are critical catalysts for economic expansion and productivity growth. By embracing these technologies, Africa can leapfrog traditional development models, positioning itself as a global leader in innovation, efficiency, and economic transformation. Africa must move swiftly to harness the full potential of the digital revolution to drive its industrialisation forward with bold, forward-looking strategies.

Integrating Global Megatrends into Our Strategic Vision

Rising tensions, shifting alliances, and the emergence of new power centres are redrawing the rules of international engagement. Africa must proactively engage diplomatically and economically in this environment to ensure our interests are represented. Strengthening regional financial cooperation and consolidating our institutions will enhance our collective bargaining power in these turbulent times.

Technological transformation is another critical driver. The digital revolution, marked by breakthroughs in mobile money, fintech, and AI-driven innovations, presents Africa with a unique opportunity to leapfrog traditional, outdated systems. By investing in digital infrastructure and fostering an environment that encourages innovation, we can position Africa as a hub for technological advancement, enhancing economic competitiveness and facilitating our public institutions’ modernisation, making them more responsive, transparent, and efficient.

Although Africa contributes minimally to global emissions, the impacts of climate change are disproportionately severe on our soil. Integrating sustainable practices and renewable energy sources into development projects is imperative. Moreover, leveraging our natural endowments, whether in the form of solar, wind, or geothermal energy, will allow us to drive an energy transition that is both economically and environmentally sustainable.

Futureproofing the African Development Bank

In pursuing Africa’s long-term sustainable development, it is essential that the AfDB not only leads through strategic investments but also exemplifies institutional excellence. The AfDB’s mission has always been to steer the continent towards progress, but as global dynamics evolve, so must the institution that plays a pivotal role in shaping Africa’s future.

To lead Africa’s transformation, the AfDB must sharpen its internal efficiency into an institution that embodies ambition, agility, and accountability. Institutional efficiency is not merely about optimising internal processes; it is about aligning every aspect of the Bank’s operation with Africa’s bold development goals, ensuring that its resources are utilised most effectively.

The Bank must focus on refining its governance, strengthening its financial frameworks, and fostering a culture of performance-driven decision-making throughout its ranks. Through this, the AfDB will solidify its place as Africa’s most dynamic institution, capable of responding to challenges and seizing opportunities with unparalleled efficiency.

Reforming Internal Processes to Align with Ambition

The AfDB must modernise its internal structures, moving beyond traditional bureaucratic models towards a more streamlined, results-oriented framework. This involves reforming its governance and ensuring that decision-making processes are as responsive and agile as the challenges facing African nations today. By decentralising decision-making, empowering regional offices, and embracing digital transformation, the AfDB will become more flexible and capable of making swift decisions that align with the continent’s rapidly changing needs.

Institutionalising a Culture of Results and Accountability

At the heart of this transformation lies the institutionalisation of a results-based culture. The AfDB must continually strive to be a model of operational excellence. This requires a focus on optimising human capital and aligning incentives with performance. By nurturing a highly skilled workforce, embracing new technologies, and continuously measuring outcomes, the Bank will ensure that its projects meet deadlines and achieve a lasting, measurable impact. Through these measures, the AfDB will demonstrate to Africa — and the world — that it has no intentions of resting on its laurels, but it is a forward-looking agency committed to a transformative vision.

Fostering Strategic Partnerships for Greater Impact

Beyond its internal reforms, the AfDB must continue to build strategic partnerships that enhance its ability to mobilise capital and expertise. This is crucial to addressing Africa’s massive development needs, especially given the increasing urgency of climate change, economic inequality, and regional instability. By leveraging partnerships with the private sector, international financial institutions, and African governments, the AfDB can multiply the impact of every dollar invested, ensuring that Africa’s development trajectory remains on course.

Final Reflections

Africa’s future rests on the bold reforms outlined above and a renewed commitment to forging stronger bonds among our countries. Regional integration is more than a policy goal — it is a unifying force that can galvanise our collective potential. Fragmentation and dependency on external markets have stifled Africa’s share of global trade for too long. The AfCFTA has ignited a spark of hope: the promise of an integrated economic space where barriers fall away and intra-African trade flourishes. But this is a complex and multi-layered project and requires firm hands on the tiller of progress. The AfDB is well positioned to be one of those hands.

Domestic resource mobilisation has become the new rallying cry of African institutions, governments and other
stakeholders as we seek a more resilient and independent future. Ambition is within reach and can be supported by our many natural assets and a growing pool of domestic capital that remains largely untapped. But it will not happen by accident. Structural inefficiencies must be addressed, and deliberate initiatives to harness these resources must be supported. Efficient domestic resource mobilisation will pave the way for increased public investments in critical sectors such as education, health, and infrastructure, laying a solid foundation for future growth.

Without addressing the interconnected dimensions of peace, security, and energy transition, no strategic vision for Africa can be complete. Economic development and stability are inextricably linked, and with a rapidly growing and predominantly youthful population, the urgency to create sustainable employment opportunities has never been greater. Economic marginalisation and rising discontent can lead to instability, hindering development.

For Africa to thrive, it is essential to foster peace and security, as unstable regions struggle to attract investments, and conflict zones lead to the destruction of infrastructure and mass displacement. AfDB must play a critical role in stabilising vulnerable regions, funding post-conflict reconstruction, promoting job creation, and supporting social cohesion initiatives that reduce economic disparities and prevent further instability.

My Credentials

With a proven track record of transformative leadership in multilateral development banking, I bring extensive and relevant experience that is particularly suited for leading a major institution like the AfDB. Over the past decade as President of BADEA (Arab Bank for Economic Development in Africa), I successfully repositioned the Bank as a Tier-1, AA+/AAA-rated institution, overseeing a 75 per cent growth in total assets — from USD$4 billion to nearly USD$7 billion — while maintaining exceptional asset quality, reducing non-performing loans from 11 per cent to just 0.5 per cent, and implementing far-reaching institutional reforms.

Under my leadership, BADEA pioneered longer-term strategic planning through the BADEA 2030 and BADEA 2074 frameworks, aligning closely with the African Union’s Agenda 2063 and the Sustainable Development Goals and embedding a focus on sustainable finance and ESG principles.

My experience offers a unique 360-degree perspective of Africa’s development finance landscape: from the demand
side, having served eight years as Mauritania’s Minister of Finance and Economy, intimately familiar with the needs of Africa, and from the supply side, with over three decades in senior roles at regional development institutions, where I introduced innovative solutions such as debt-for-equity swaps to recapitalise African MDBs.
Furthermore, I have demonstrated crisis management acumen, successfully navigating BADEA through political
instability, the COVID-19 pandemic, and the outbreak of war in Sudan — including a complete relocation of the Bank’s headquarters — while ensuring operational continuity and growth.

My career has also been marked by effective resource mobilisation and high-level diplomatic engagement, achieving a 376 per cent increase in BADEA’s authorised capital, successful access to public bond markets, and continuous engagement with heads of state, ministers, donors, and development partners. These credentials reflect a leadership style that combines strategic vision, financial discipline, and diplomatic skills — essential to advancing AfDB’s mission in today’s evolving development landscape.

Sidi Ould Tah, who was until recently the director general of the Arab Bank for Economic Development in Africa (BADEA), is a candidate for the AfDB presidency.