Africa Must Chart Its Own Course, Says New AfDB President

Africa must look in all directions for guidance, but chart its own path, the newly sworn-in President of the African Development Bank (AfDB), Dr. Sidi Ould Tah, said on Monday.

“Africa must look north, south, east, and west, not to imitate, but to draw wisdom and strength from each direction, while defining its own course,” Ould Tah said in his inaugural address in Abidjan, Côte d’Ivoire.

Ould Tah, a former head of the Arab Bank for Economic Development in Africa (BADEA), takes over an institution with $318 billion in capital, 10 consecutive years of AAA credit ratings, and the world’s highest transparency score for a sovereign portfolio.

“The African Development Bank cannot aim to be everything to everyone. It must focus on where it can move the needle most, always with the spirit of partnership,” he said.

He pledged to expand partnerships beyond traditional multilateral lenders to include sovereign wealth funds, pension funds, and private capital. “I intend to expand partnerships to new players, such as sovereign wealth funds, pension funds and others,” he added.

Ould Tah also signaled a new focus on peace as a driver of development. “There is no development without peace. There is no peace without development,” he said, announcing plans for a dedicated investment pillar on peace initiatives.

The AfDB president highlighted Africa’s demographic trends, rapid technological change, and climate challenges as both opportunities and tests for the continent. “Our continent is young, ambitious and restless. This energy should be the driving force behind our transformation,” he said.

He called AfDB staff the Bank’s “most valuable resource” and promised regular town halls to improve consultation and collaboration within the institution.

Ould Tah laid out a four-point plan for his first 100 days: listening to stakeholders, implementing reforms to improve operational efficiency, strengthening partnerships, and accelerating efforts to expand access to financing and create jobs.

“Like a navigator guided by the compass, the Bank should help Africa navigate toward greater resilience, ambition and sustainability,” he said, emphasizing that the Bank should support Africa’s priorities rather than replicate solutions from elsewhere.

The swearing-in ceremony was attended by African heads of state, former AfDB presidents, development partners, and his former rivals for the post, underscoring the symbolic weight of the leadership transition.

Read More