Adesina Ends 10-Year Tenure at AfDB, Highlights Bank’s Successes, 515m people impacted

Dr. Akinwumi Adesina, the President of the African Development Bank Group (AfDB), has bid farewell to the Assembly of Heads of State and Government, marking the end of his 10-year tenure.

Adesina congratulated President João Lourenço on his election as Chairperson of the African Union and thanked outgoing Chairperson President Mohamed Ould Ghazouani for his excellent leadership.

During his address on Monday, Adesina noted the bank’s achievements, stating that over 515 million people have been impacted, including 231 million women.

“Lives are being transformed across the continent,” he said.

The bank has provided access to better health services for 127 million people, water for 61 million, improved sanitation for 33 million, ICT services for 46 million, and electricity for over 25 million.

Adesina also pointed out the bank’s efforts to accelerate food production, with over 101 million people becoming food secure.

“The Bank has mobilized $72 billion to implement food and agriculture delivery compacts across the continent.

“Additionally, the Affirmative Finance Action for Women (AFAWA) has provided $2.5 billion for 24,000 women-owned businesses in Africa,” he said.

According to him, AfDB has invested heavily in infrastructure, spending over $55 billion in the last decade, making it the largest multilateral financier of infrastructure in Africa.

“The bank has also set up Africa50, which has raised over $1 billion, and the Alliance for Green Infrastructure in Africa (AGIA) to mobilize $10 billion for green infrastructure.”

Adesina expressed his gratitude to the Assembly and his pride in the bank’s achievements, saying “It has been my greatest honor to serve you and Africa.”

Persecondnews reports that the bank’s capital increased from $93 billion in 2015 to $318 billion as of today with the bank maintaining its AAA-credit ratings.