Former Mauritania’s Minister of Economy and Finance, Dr. Sidi Ould Tah, has been elected as the 9th President of the African Development Bank (AfDB) Group, succeeding Akinwumi Adesina, who has led the institution for two terms since 2015.
The election took place on Thursday at the bank’s headquarters in Abidjan, Côte d’Ivoire, where Tah emerged victorious against four other contenders.
Tah was elected by the Bank’s Board of Governors, comprising Finance and Economy Ministers or Central Bank Governors of the Bank Group’s 81 regional and non-regional member countries.
The board is the highest decision-making authority for the Bank Group.
The winning candidate is required to obtain at least 50.01% of both the regional and non-regional votes.
The results were announced by Niale Kaba, Minister of Planning and Development for Côte d’Ivoire, and Chairman of the Board of Governors of the Bank Group.
Previous roles
With a career in economic development and financial management, Tah brings a wealth of experience to his new role.
- He previously served as the Director General of the Arab Bank for Economic Development in Africa (BADEA) for ten years, a tenure marked by efforts to strengthen African-Arab economic cooperation and improve financial accessibility across the continent.
- Tah began his career at the Mauritanian Bank for Development and Commerce (BMDC), where he gained valuable insights into commercial banking operations.
- His expertise led him to advisory roles in financial management, supporting various government institutions in optimizing their economic frameworks.
- Between 1999 and 2006, he served as an Investment Promotion Officer and Technical Assistant to the President of the Islamic Development Bank, further expanding his influence in the global financial space.
- In 2008, Tah transitioned into policymaking when he was appointed Mauritania’s Minister of Economy and Finance, a position he held until 2015. His tenure was marked by fiscal policy reforms, enhanced foreign investment strategies, and efforts to stabilize the nation’s economic structure.
Since July 2015, Tah has been at the helm of BADEA, championing developmental financing across Africa.
A new administration beckons
As he prepares to take on his new leadership role at AfDB, he will leave BADEA on July 1, 2025, paving the way for Abdullah AlMusaibeeh, who will assume the position.
His election comes at a time when the African Development Bank continues to play a pivotal role in advancing infrastructure, financial inclusion, and economic resilience across Africa.
With his background in international development banking, Tah is expected to bring strategic insights and innovative approaches to further drive economic growth, sustainability, and collaboration among African nations.
Tah will assume office on 1 September 2025, for a five-year term.
What you should know
- The African Development Bank has witnessed a surge in capital growth, expanding by 241.9% over the past decade.
- The Bank’s capital skyrocketed from $93 billion in 2015 to $318 billion in 2025, marking the largest financial expansion in its history.
- Speaking at a breakfast meeting with journalists on Monday, President of the African Development Bank Group, Dr. Akinwumi Adesina, reflected on the institution’s achievements in the last decade.
