At exactly11:04 Abidjan time, on a rainswept Monday morning, Dr. Sidi took his oath-of-office, at the helm of Africa’s premier development finance institution succeeding Dr Akinwumi A. Adesina who has completed his two terms.

Côte d’Ivoire’s President Alassane Ouattara, and his Mauritanian counterpart President, Mohamed Ould Ghazouani, graced the elaborate high-level ceremony held at the Sofitel Abidjan Hôtel Ivoire.

Former African Development Bank Group Presidents Dr. Akinwumi A. Adesina, and Dr. Donald Kaberuka, as well as the Bank Group’s Board of Governors, including Executive Directors, staff and international dignitaries were in attendance to witness the change of leadership.

The Republic of the Congo’s economy minister Ludovic Ngatse in his capacity as Chair of the Board of Governors of the Bank presided over the swearing in-ceremony.

Dr. Ould Tah, 60, who hails from the Islamic Republic of Mauritania, was elected on 29 May 2025 with over 76% of shareholder votes, the highest margin for a first-term president in the Bank’s history.

President Ouattara termed the change of leadership a “milestone which comes at a historic moment in the life of our pan-African institution” and “paves the way for a new era of hope for the Bank.”

In his congratulatory remarks delivered immediately after the swearing-in ceremony President Ghazouani noted that, “Dr. Sidi Ould Tah has this heavy responsibility to ensure that the Bank enhances its key role in promoting the economic and social development of the continent, for it to remain a full lever in terms of fulfilling the aspirations of African people to peace, prosperity and development.”

President Ghazouani expressed confidence in the Bank’s new president to deliver for the continent.

“We will be the Bank that bridges divides-between regions, between ambitions and execution, between public and private, between urgency and bureaucracy. Let us move forward together – with urgency, with unity, and with unwavering accountability.” Ould Tah said in his well-received inaugural speech.

Dr. Ould Tah outlined his Four Cardinal Points which include, listening intently; launching a fast-track reform agenda; deepening partnerships and accelerating real solutions as the core priorities which will guide his presidency in the first 100-days of office.

The new President reiterated that the Bank will be “attentive, responsive, and capable of setting priorities that matter.” 

He went on to note that the Bank will enhance partnerships by working closely with governments, the private sector, and international partners, “so that together we create a financial framework that serves Africa on its own terms.”

Dr Ould Tah acknowledged the presence of Bank partners including Finance in Common, the Alliance of African Financial Institutions, the International Development Finance Club, and the Arab Coordination Group, and pledged his readiness “to expand the Bank’s partnership to new players such as sovereign funds, pension funds and others”.

Additionally, he made a commitment to “urgently revisit our investment models to include a dedicated pillar for investment in peace.”

President Ould Tah affirmed his intention to organise a Townhall “in the coming days” for Bank staff, whom he described as the “institution’s most valuable resource.”

Envisioning a vital role for the Bank as a guide for a continent confronting the 21st century challenges of demographics, technology and climate change, Ould Tah said:

“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. Like a navigator guided by the compass, the Bank should help Africa navigate the megatrends toward increased self-reliance, ambition, and agency,” he said.

However, he stressed, this important leadership role in crafting universal solutions “shaped by African perspectives, African priorities, and African agency” must be approached in a selective manner, saying, “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.”

Dr. Ould Tah is the former President of the Arab Bank for Economic Development in Africa (BADEA), where he oversaw a landmark institutional transformation.

Under his leadership, BADEA’s assets grew from $4 billion to nearly $7 billion, annual approvals increased twelvefold and disbursements eightfold; and the institution achieved AA+/AAA credit ratings.

He brings to the Presidency of the African Development Bank Group over four decades of distinguished experience in development banking, economic policy, and institutional transformation.

He also previously served as Minister of Economy and Finance of Mauritania between 2008 and 2015, and Mauritania’s Governor on the Boards of the African Development Bank, World Bank and the Islamic Development Bank, among others.

Fluent in Arabic, English and French, with working proficiency in Portuguese and Spanish languages, President Ould Tah holds a PhD in Economics from University of Nice Sophia Antipolis, France, and advanced degrees from Paris VII-Jussieu and University of Nouakchott.

Dr. Ould Tah inherits a pan-African institution with robust fundamentals: $318 billion in capital, AAA credit ratings maintained for 10 consecutive years, and the world’s highest transparency score for a sovereign portfolio, at 98.8%. Over the past decade, the Bank has approved $102 billion in development financing.

The audience at the swearing-in ceremony included representatives of international institutions and development partners, private sector, civil society, diplomats, members of the Bank’s Board of Directors, and staff.

Three of the candidates who contested for the Presidency alongside Dr. Ould Tah, Ms. Bajabulile Swazi Tshabalala, Mr. Amadou Hott and Dr. Samuel Munzele Maimbo, were also in attendance.

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Dr Tah, a former Mauritanian finance minister and director general of the Arab Bank for Economic Development in Africa (BADEA), was elected during the AfDB Group’s annual meeting on Thursday, in Abidjan, Côte d’Ivoire.

He secured the position ahead of four other candidates, following a transparent selection process conducted by the Bank’s Board of Governors, comprising Finance and Economy Ministers or Central Bank Governors from the Bank Group’s 81 member countries.

Tinubu applauded the transparent process that led to the former Mauritanian Finance Minister and Director General of the Arab Bank for Economic Development in Africa (BADEA) emerging as the Group’s President.

In a statement issued by Bayo Onanuga, special adviser to the President on Information and Strategy, Tinubu commended the integrity of the electoral process and Dr Tah’s ability to lead the institution, noting his broad experience in finance and development.

President Tinubu reiterated Nigeria’s solid commitment to partnership with the AfDB, emphasising the country’s position as the Bank’s largest shareholder amongst its 81 regional and non-regional members, which include 54 African and 27 non-African nations.

He cited the recent $500 million capital replenishment of the Nigeria Trust Fund (NTF), approved in May  2025, which extends the fund’s operations by 15 years,

“Established in 1976, the NTF is a special AfDB fund fully financed by Nigeria to support development projects across Africa.

“This renewed commitment underscores Nigeria’s continued dedication to the Bank’s mission of driving inclusive growth and poverty reduction on the continent.”

Tinubu also pledged full support for Dr Tah’s development agenda, particularly in areas such as energy access, infrastructure development and strengthening the regional financial sector.

He appreciated the outgoing AfDB President, Dr. Akinwumi Adesina for his service and wished him success in his future endeavours.

The post Tinubu Congratulates Sidi Ould Tah New AfDB President-Elect appeared first on Tech | Business | Economy.

His election marks a pivotal moment in the Bank’s history as it looks to scale up development financing to meet Africa’s urgent infrastructure, industrialization, and sustainability needs.

He is set to assume office in September 2025, succeeding Dr. Akinwumi Adesina, whose tenure brought significant attention to the Bank’s High 5 priorities.

Dr. Tah brings to the AfDB over two decades of experience in development finance, economic governance, and international cooperation. Most notably, he served as president of the Arab Bank for Economic Development in Africa (BADEA) from 2015 to April 2025.

Under his transformative leadership, BADEA underwent a remarkable evolution in scale, capacity, and influence.

During his tenure, the bank’s assets grew from $4 billion to nearly $7 billion, project approvals quadrupled, and the institution earned AA+/AAA credit ratings from major global agencies an exceptional achievement for an Africa-focused development institution.

BADEA’s development impact under Dr. Tah was substantial. The bank disbursed over $11 billion in development financing, nearly 75% of its total disbursements since its inception 50 years ago.

He pioneered the bank’s first long-term strategic plan, BADEA 2030, and an ambitious institutional vision known as BADEA 2074, aligning its goals with the African Union’s Agenda 2063.

Under his direction, BADEA invested in 400 megawatts of solar power across several Sahelian countries, bringing electricity to over 200,000 homes and small enterprises. His focus on job creation and SME financing led to the generation of over 50,000 jobs continent-wide.

Dr. Tah is known for championing innovative finance mechanisms. He introduced climate finance instruments, promoted environmental, social, and governance (ESG) compliance across BADEA operations, and leveraged blended capital models to attract private investment into high-impact sectors.

His deep understanding of development finance, paired with practical experience in policy reform and institutional restructuring, positions him to lead AfDB into a new phase of bold, high-leverage development action.

At AfDB, Dr. Tah has already outlined a vision to mobilize between $50 billion and $60 billion annually in financing without significantly increasing shareholder capital.

His proposals include the introduction of hybrid capital instruments, expanding the Bank’s use of credit guarantee schemes, launching diaspora-linked concessional products, and optimizing the Bank’s Africa Investment Forum platform to attract syndicated financing for large-scale infrastructure projects.

He emphasizes capital efficiency, operational flexibility, and the importance of preserving the Bank’s strong credit ratings.

Before his tenure at BADEA, Dr. Tah served as Mauritania’s Minister of Economic Affairs and Development. He has also held key positions in various multilateral institutions, including the Islamic Development Bank (IsDB), where he worked on public-private partnership strategies and regional cooperation programs. His academic background includes a Ph.D. in economics, with research focused on development policy, financial systems, and inclusive growth strategies.

Dr. Tah’s election has been widely welcomed by African leaders, economists, and the development community. Many see him as a pragmatic yet visionary leader capable of steering AfDB toward deeper African economic integration, financial sustainability, and global competitiveness. His bilingual fluency in Arabic, French, and English also enhances his diplomatic appeal across diverse African and international contexts.

As he prepares to take office, Dr. Tah inherits an institution at a crossroads, one that has expanded its influence in global climate finance and development partnerships but faces mounting pressure to help Africa recover from post-COVID economic challenges, global trade disruptions, and mounting debt vulnerabilities.

With his proven track record at BADEA and a deep commitment to Africa’s long-term development, Dr. Sidi Ould Tah is poised to lead the AfDB Group with purpose, pragmatism, and innovation. (Source: Voice of Africa)

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