Source: APO
History was made today when Dr. Sidi Ould Tah was sworn-in, as the ninth President of the African Development Bank Group (AfDB) (www.AfDB.org).
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.
Distributed by APO Group on behalf of African Development Bank Group (AfDB).
Media Contact:
Tolu Ogunlesi
Communications and External Relations Department (PCER);
media@afdb.org
About the African Development Bank Group:
The African Development Bank Group is Africa’s premier development finance institution. It comprises three distinct entities: the African Development Bank (AfDB), the African Development Fund (ADF) and the Nigeria Trust Fund (NTF). On the ground in 41 African countries with an external office in Japan, the Bank contributes to the economic development and the social progress of its 54 regional member states. For more information: www.AfDB.org
