On 29 May 2025, the African Development Bank (AfDB) Board of Governors will be voting to elect the bank’s next president. African leaders say the vote will shape how the continent harnesses its human talent and attracts new investment for development. The winning candidate will succeed Nigeria’s Akinwumi Adesina, who will complete his second term this year.
Founded in 1964 and headquartered in Abidjan, Côte d’Ivoire, the AfDB is Africa’s leading development financial institution. It provides loans and grants to governments and projects across the continent – funding infrastructure, energy, agriculture and other initiatives to spur growth, reduce poverty and tackle climate change. The bank today counts 81 member countries (54 African and 27 non-African) that contribute capital and influence policy (afdb.org). Uniquely, the AfDB is the only multilateral development bank with triple‑A credit ratings from all three major agencies, underscoring its strong financial standing.
AfDB’s Mandate and Membership
The AfDB’s founding charter says its mandate is to contribute to the economic and social progress of its regional member countries. In practice, this means financing development projects – from roads and power plants to education and climate resilience – across Africa. Its resources come from paid‑in capital and borrowing on global markets. Over the past decade the bank’s work has included major programs for rural development, digital finance and renewable energy.
The AfDB’s board is comprised of the finance ministers and Central Bank governors of all 81 members. Unlike many African institutions, its membership includes leading global economies. A candidate must win a majority of both the African governors (who hold about 60% of the voting power) and the non-regional members i.e the non-African shareholders (cngcafrica.com).
The Field of Candidates
Five candidates are officially in the running to lead the AfDB, one from each of five African countries. According to the bank’s February press release, Amadou Hott of Senegal, Samuel Munzele Maimbo of Zambia, Sidi Ould Tah of Mauritania, Abbas Mahamat Tolli of Chad, and Bajabulile “Swazi” Tshabalala of South Africa.
As the only female candidate, South African banker Ms. Swazi Tshabalala spent nearly seven years at the AfDB, joining in 2018 and rising to Senior Vice President and Chief Financial Officer by 2021. Before joining the bank, Tshabalala was a senior executive in the private sector. She led Old Mutual’s employee benefits business and held leadership roles at Standard Bank Group and Transnet – and was CEO of South Africa’s state‑owned Industrial Development Group from 2006 to 2014.
These roles have given her thorough experience in infrastructure and finance. Tshabalala’s campaign platform stresses expanding infrastructure investment and giving the private sector a larger role in the AfDB’s development agenda. (South Africa’s government has publicly endorsed her bid, noting her track record in finance and development.)
Stakes for Africa’s Economy
The outcome of this election will have significant implications. Analysts note that Africa’s economy is projected to grow around 4% in 2025 despite global headwinds (forbes.com). However, many countries face high debt and have pressing development needs, from expanding power grids to adapting to climate change. The new AfDB president will help set priorities for how the bank invests billions of dollars in the coming years. The next leader will influence how the AfDB navigates a changing global economy, strengthens Africa’s financial independence, and mobilises capital for the continent’s future. Whoever wins will steer strategies to address Africa’s debt crisis, mobilise private investment, and fill gaps in climate financing.
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