On May 29, 2025, the African Development Bank (AFDB) Governor's Committee will vote to elect the bank's next president. African leaders say the vote shapes how the continent utilizes human talent and attracts new investments for development. The winner will replace Nigerian Akinwumi Adesina and complete his second term this year.
Founded in 1964 and headquartered in Ivory Coast, Abidjan, AFDB is Africa's leading development finance institution. Provides loans and grants to governments and projects across the continent. It is funding infrastructure, energy, agriculture and other initiatives, reducing poverty and tackling climate change. The banks today count 81 member states (54 Africans and 27 non-Africans) that contribute to the Capital and Impact Policy (afdb.org). Uniquely, AFDB is the only multilateral development bank with triple A credit ratings for all three major institutions, highlighting its strong financial position.
AFDB missions and memberships
The AFDB's founding charter states that its mission is to contribute to the economic and social progress of regional member states. In reality, this means funding projects for development projects across Africa, from roads and power plants to education and climate resilience. That resource comes from paid capital and borrows global markets. Over the past decade, banking jobs have included major programs for rural development, digital finance and renewable energy.
The AFDB Board consists of all 81 members of finance ministers and central bank governors. Unlike many African institutions, their membership includes the major global economy. Candidates must acquire both African governors (he holds about 60% of the voting rights) and non-regional members, namely non-Africa shareholders (cngcafrica.com).
Candidate Areas
Five candidates are officially running and leading the AFDB. According to a February press release from the bank, Amadoo Hot in Senegal, Samuel Munselmaimbo in Zambia, Sidi in Mauritania are Abbasmahahahattoli in Chad and Bajabril “Swaji” Toshabalala in South Africa.
As the only female candidate, South African banker Swaji Tsabalala spent nearly seven years at AFDB, joining in 2018 and rose to Senior Vice President and Chief Financial Officer by 2021. She led the employee benefits business at Old Mutual, held leadership roles at Standard Bank Group and Transnet, and was CEO of South Africa's national industrial development group from 2006 to 2014.
These roles provide her in-depth experience in infrastructure and finance. Tshabalala's campaign platform highlights the expansion of infrastructure investments and emphasizing the large role of the private sector in the AFDB development agenda. (The South African government publicly approved her bid, noting her track record in finance and development.)
Interests for the African economy
The outcome of this election has important implications. Analysts point out that despite global headwinds, Africa's economy is projected to grow by around 4% in 2025 (Forbes.com). However, many countries face high debt and have immediate development needs, from expanding their power grids to adapting to climate change. The new AFDB president will help set prioritize how banks invest billions of dollars in the coming years. The next leader will influence the way AFDB navigates global economic change, strengthen Africa's financial independence and mobilize capital for the future of the continent. Anyone who wins will pilot strategies to deal with the African debt crisis, mobilize private investment, and close the climate financing gap.
