AfDB President to Bid Farewell on May 29 After a Decade of Impact and ‘Grey-Haired’ Transformation

Dr. Akinwumi Adesina, President of the African Development Bank Group, is set to bid farewell on May 29, the day the Bank’s shareholders will elect a new president during the 2025 Annual Meetings in Abidjan.

At a media welcome breakfast session, Adesina reflected on a decade of bold reforms and milestone achievements that, in his own words, turned his once-black hair grey.

“Grey from 10 years of unrelenting drive to push Africa forward… Grey from our collective work to ensure we serve the people of Africa with passion, dedication and accountability,” he told those present in a moment laced with emotion and humour.

Adesina’s decade at the helm has been marked by the Bank’s transformation into what he called “Africa’s development solutions Bank.” From strategic initiatives like the High 5s agenda to spearheading financial innovations, his presidency has seen the institution become a leading force in global development finance.

He spotlighted achievements such as the record capital increase from $93 billion to $318 billion and the $8.9 billion replenishment of the African Development Fund, the highest in its history. Under his leadership, the Bank became the first multilateral development bank to launch hybrid capital instruments and undertake synthetic securitization.

His tenure also featured bold responses to global shocks. Recounting how the Bank helped avert a looming food crisis after the outbreak of the war in Ukraine, Adesina emphasized the speed and scale of the Bank’s $1.5 billion Emergency Food Production Facility.

Drawing on personal visits across Africa, he recalled encounters with ordinary citizens whose lives had been transformed by AfDB projects, from schoolchildren in Lesotho with new sanitation access to remote Kenyan villages lit up by the Last Mile Connectivity Project.

“All I know is that we once were in darkness; now we have light,” one Kenyan woman told him, not knowing who the Bank President was, yet fully experiencing the impact of the institution.

Adesina also highlighted infrastructure milestones such as the Senegambia Bridge, which turned a 2-day journey into a 15-minute trip, as well as the Gabal El Asfar wastewater treatment plant in Egypt, now the largest on the continent.

He said the Bank’s new 2024–2033 Ten-Year Strategy was shaped through wide consultations, including with youth, women, governments, and civil society across its 81 shareholder countries. The clear message, he said, was to “continue the High 5s.”

“These Annual Meetings are particularly meaningful, not just for me. They mark a moment of renewal, transition, and continued ambition,” he said. “Leadership may change, but our mission endures.”

More than 5,000 delegates from 91 countries are attending the meetings in Abidjan, held under the theme “Making Africa’s Capital Work Better for Africa’s Development.” The media, he stressed, have a critical role in amplifying Africa’s voice and shaping the global narrative.

“You are not just observers. You are amplifiers. You challenge us. You inform the world,” he told journalists.

As he prepares to pass the baton, Adesina leaves behind what he called a “very strong financial institution that can weather the storms.”

“Serving as President of the African Development Bank has been the greatest honor of my life,” he said. “Here’s to progress, here’s to partnership, and yes, here’s to the High 5s!”

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