Dr. Sidi Ould Tah of Mauritania was sworn in on Monday as the Bank’s ninth president of the African development bank group, marking a historic transition at one of Africa’s most influential financial institutions.
Ould Tah, 60, succeeds Dr. Akinwumi A. Adesina, who completed two terms at the helm. He was elected in May with over 76 percent of shareholder votes, the widest margin ever for a first-term president. The inauguration ceremony, held in Abidjan and attended by Ivorian President Alassane Ouattara and Mauritanian President Mohamed Ould Ghazouani, brought together past AfDB presidents, board members, and international partners.
In his inaugural speech, Ould Tah set out “Four Cardinal Points” for his first 100 days: attentive listening, a fast-tracked reform agenda, deepening partnerships, and accelerating real solutions. He pledged to make the Bank “attentive, responsive, and capable of setting priorities that matter,” stressing the need for greater collaboration with governments, the private sector, and development partners.
The new president underscored the Bank’s role in tackling Africa’s urgent challenges, including climate change, demographic shifts, and technological transformation. “Africa must look North, South, East and West, not to imitate, but to draw wisdom and strength from every direction while defining its own course,” he said. “Like a navigator guided by the compass, the Bank should help Africa navigate the megatrends toward increased self-reliance, ambition, and agency.”
Significantly, Ould Tah committed to revisiting AfDB’s investment models to include a pillar dedicated to peace, acknowledging that economic progress is inseparable from stability. He also emphasized expanding partnerships to new players such as sovereign wealth and pension funds, alongside existing alliances like the International Development Finance Club and the Arab Coordination Group.
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Ould Tah brings over 40 years of experience in development finance and policy. As president of the Arab Bank for Economic Development in Africa (BADEA), he oversaw an institutional transformation that grew assets from $4 billion to $7 billion and secured top-tier credit ratings. He also served as Mauritania’s Minister of Economy and Finance from 2008 to 2015, and as a governor on the boards of the AfDB, World Bank, and Islamic Development Bank.
With $318 billion in capital and $102 billion in approved development financing over the past decade, the AfDB remains central to Africa’s growth trajectory. Ould Tah inherits an institution with strong fundamentals, including AAA credit ratings sustained for ten consecutive years.
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In his closing remarks, he highlighted the Bank’s responsibility to drive inclusive development while staying focused: “The African Development Bank should not aim to be everything to everyone. It should focus on where it can move the needle most—always with the spirit of partnership.”
For a continent confronting climate risks, rising inequality, and shifting global economic currents, Ould Tah’s presidency begins at a moment of both uncertainty and possibility.
