US EditionMauritania’s Sidi Ould Tah Elected Africa’s New ‘Superbanker’
- After three rounds of voting in Abidjan, Sidi Ould Tah, former Mauritanian finance minister, secured the presidency of the Africa Development Bank.
- The election involved securing a majority from the entire membership, which comprises 81 countries with 54 representing Africa, as Mauritania’s Sidi Ould Tah competed against four other contenders, including Zambian economist Samuel Munzele Maimbo.
- Tah secured victory with 76.18 percent of the votes, while Maimbo garnered 20.26 percent, amid challenges posed by a turbulent global economy and concerns over a potential reduction of $500 million in American financial support to the AfDB.
- Outgoing president Akinwumi Adesina highlighted that over 565 million individuals have gained from AfDB initiatives during his ten-year tenure, and he also noted that the bank’s capital increased more than threefold, rising from $93 billion to $318 billion.
- Tah’s election signals continuity in pursuing Adesina’s priorities to transform Africa while facing funding risks and aiming to enhance project delivery and talent acquisition.
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SA’s Swazi Tshabalala loses out on AfDB presidency to Mauritanian Sidi Ould Tah
South Africa’s hopeful and the only female candidate for the presidency of the African Development Bank, Swazi Tshabalala, has lost out on the position to Mauritanian economist Sidi Ould Tah.
·Johannesburg, South Africa
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African Development Bank elects former BADEA chief, finance minister of Mauritania as president
Sidi Ould Tah, who recently stepped down as Arab Bank for Economic Development in Africa (BADEA) president, must find fresh financing to offset Trump's tariffs and the likely loss of $555mn in US funding.
·Berlin, Germany
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Leaning Left7Leaning Right7Center17Last UpdatedBias Distribution55% Center
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