By Emmanuel Nduka
In mid-February this year, inside the ivory halls of the African Development Bank (AfDB) headquarters in Abidjan, Cote d’Ivoire, the Steering Committee of the Board of Governors convened for a critical task: vetting the candidates who will vie for the presidency of Africa’s premier financial institution. As the clock ticks toward the end of Dr. Akinwumi Adesina’s second term of five years this August, the torch must soon pass on. The stakes are enormous!
Among the contenders approved for the decisive May 29 election are five distinguished names led by Dr. Sidi Ould Tah of Mauritania, Mr. Amadou Hott of Senegal, Dr. Samuel Maimbo of Zambia, Mr. Abbas Mahamat Tolli of Chad, and Ms. Bajabulile Tshabalala of South Africa. But in the quiet corners of the AfDB and the strategic circles of Africa’s capitals, one candidate is steadily gaining continental prominence!
Enormous Responsibilities Ahead, Despite Adesina’s Success Stories
The search for a novel president of Africa’s apex financial institution is officially heating up. Adesina’s tenure is one marked by ambition and accomplishment. From passionately driving socio-economic advancement of Africa, to advocating Africa’s voice on the global financial stage, his presidency has carved a legacy that any successor must reckon with. Yet, Africa’s present is more complex, and its future needs urgent upscaling.
The next AfDB president must navigate a turbulent economic landscape riddled with sovereign debt, currency devaluations, inflationary pressures, declining donor support, and the disruptive aftermath of climate change. While Adesina championed the redirection of IMF Special Drawing Rights toward African institutions, the task ahead for the next president demands not just advocacy, but execution. The new leadership must make bold plans grounded in realism, if the AfDB is serious about solving the continent’s developmental challenges.
Dr. Sidi Ould Tah, A Clear Favorite To Lead The African Development Bank Onwards To Prominence
At the heart of the May 29 vote, one name stands out above the rest—Dr. Sidi Ould Tah, the former President of the Arab Bank for Economic Development in Africa (BADEA). With ringing endorsements from African economic and political heavyweights and a groundswell of support from regional blocs, his candidacy is no longer a quiet campaign—it’s a continental movement!
What sets him apart? A rare blend of finesse, with an established track record of innovative public financing solutions, multilateral experience, pan-Africanism, and a passionate drive for creating sustainable empowerment for young Africans, particularly with SMEs, Dr. Ould Tah has emerged as the clear favorite to succeed the outgoing Dr. Akinwumi Adesina.
An in-house Independent Poll conducted by Heritage Times HT puts Dr. Ould Tah in pole position ahead of the other four contenders to succeed Dr. Adesina. Key stakeholders in the continent’s economic and political landscape have endorsed him and expressed confidence in his capacity to fit into the shoes of the outgoing president.
At a press conference held in Nouakchott in early May, he made bold his vision for the AfDB as:
- Scaling up Africa’s financing
- Reforming Africa’s finance architecture
- Harnessing Africa’s youthful demography
- Developing resilient infrastructure and enhancing value addition
In a recent interview, Dr. Ould Tah vowed that under his leadership, the AfDB will dismantle the age-long culture of African countries preferring to import from outside Africa, what they can get from African countries. “The AfDB must take a leading role in actualizing the African Free Trade Agreement (AfCFTA). This involves funding cross-border infrastructure, dismantling non-tariff barriers, and supporting payment systems like the Pan-African Payment and Settlement System (PAPSS)”.
In the wake of the US funding cut for Africa, the Mauritanian economist said, “In the short term”, the cuts are concerning. But “they also present an opportunity to redefine partnerships” for private-sector-led investment in Africa.
A Peep Into The Strengths, Weaknesses Of Dr. Ould Tah’s Formidable, But Fragmented Challengers
1. Mr. Amadou Hott (Senegal)
Mr. Amadou Hott is a seasoned economist and investment banker with experience in development finance, economic policy, and infrastructure investment. A former Senegalese Minister of Economy, Planning, and Cooperation, under former President Macky Sall, Hott was the inaugural Vice President of the AfDB’s Power, Energy, Climate Change, and Green Growth Complex.
Despite his strong private and public finance background, his very close ties to the outgoing president could be a double-edged sword. Unanswered governance questions lingers after his tenure at the AfDB. During his time as Minister in Senegal, the broader political environment was largely criticized for sundry governance shortfalls. He also lacks stakeholders support from his regional bloc. While Senegal strongly backs him, the Economic Community of West African States (ECOWAS) is not unified in Hott’s candidacy, with Côte d’Ivoire and some others reportedly backing Dr. Ould Tah. Without the regional backing, he risks severing support with other popular candidates in Western and Central Africa.
2. Dr. Samuel Maimbo (Zambia)
A Zambian economist with experience in development finance, financial markets, and strategic planning, Dr. Samuel Maimbo has served as Vice President for Budget, Performance Review, and Strategic Planning at the World Bank, and has held the position of Chief of Staff to World Bank Presidents, advising on resource management and institutional strategy.
In spite of his global development credentials as a World Bank heavyweight, he is largely perceived as a ‘Western candidate’, having spent much of his career in the US, casting doubts among some African stakeholders about his Pan-African credentials. He appears to have lost full the backing of the SADC, with the influential South Africa throwing its weight behind the candidacy of Bajabulile Tshabalala.
3. Mr. Abbas Mahamat Tolli (Chad)
A Chadian economist with a robust background in central banking and public finance, Abbas Tolli served as the 5th Governor of the Bank of Central African States (BEAC) from 2017 to 2024. He also held positions such as Minister of Finance and Budget of Chad and Secretary-General of BEAC. He boasts deep Central African banking experience, but has limited regional voting heft.
Even though he was the first candidate to declare his intentions over a year ago, his support weight is largely limited. A regional vote split with concentration of Central African candidates (e.g., Chad, Mauritania) could divide the support from the region. Among other inconsistencies, mixed records trails his tenure at BEAC, with controversies and accusations of nepotism.
Tolli’s relationships with countries like Cameroon and Gabon have at times been strained. Although formally endorsed by some Central African blocs, not all countries in the region are behind him. While Gabon has reportedly endorsed Hott; the Central African Republic is said to back Ould Tah; with the DRC drumming support for Maimbo.
4. Ms. Bajabulile Swazi Tshabalala (South Africa)
Bajabulile Tshabalala is a South African finance professional with experience in finance, treasury management, and capital market operations. She has served as the Vice President for Finance and Chief Financial Officer at the AfDB. In October 2021, she was appointed Senior Vice President of the AfDB, overseeing key leadership organs and guiding the Bank’s overall operations and effectiveness.
The only female candidate among the pack with senior AfDB expertise, she faces a divided SADC and questions of continuity. Her once enjoyed working relationship with the outgoing Adesina strained sour, probably ending the tendency of his support. Besides relishing gender sentiments as the only female candidate in the running, her support base, especially within the SADC, is stunted. The SADC originally backed the Zambian candidate, Maimbo, as a single candidate from Southern Africa, leaving the region divided. So far, she has no official endorsements beyond South Africa.
While the other four contenders each bring valuable experience, they can hardly rival Dr. Ould Tah’s breadth, clarity of vision, or demonstrable track record of institutional reform and pan-African development.
What Does Dr. Sidi Ould Tah Offer?
Unlike some of his rivals who have had stints at the AfDB, Dr. Sidi Ould Tah presents a fresh face to the continent’s apex Bank, appealing to those demanding a complete break from the outgoing administration and norms.
One of the AfDB’s main challenges is ineffective financing. Despite ambitious funding announcements, such as the $10 billion COVID-19 response in 2020, actual disbursements fall short, averaging only $8–10 billion annually. The Bank remains heavily dependent on external capital increases and struggles to attract private investment and transformational FDI. To address this, Dr. Ould Tah plans to mobilize innovative capital through diaspora and green bonds, improving financial efficiency, and forming strong partnerships with Global South investors to draw new liquidity to Africa.
The second major issue is delivery. AfDB’s slow project implementation, broad strategic goals, and rigid internal processes have undermined its credibility and ability to respond to urgent challenges. Dr. Ould Tah proposes major operational reforms to improve speed and accountability, streamline decision-making, and focus on measurable, high-impact goals. Drawing from his success at BADEA, he also advocates for digitally-driven, flexible operations to boost resilience in the face of crises like climate change and youth unemployment.
Governance is the third key concern, with excessive presidential power, weak board authority, and limited oversight compromising accountability. The Board currently lacks influence over major decisions, and key oversight roles are insufficiently independent from executive management. To remedy this, Dr. Ould Tah intends to strengthen governance by empowering the Board with real oversight functions and fostering a more inclusive leadership approach, beginning with open staff and partner consultations in his first 100 days if elected.
A Champion Of Youth, SMEs, And Homegrown Growth
Dr. Ould Tah’s work at BADEA redefined development banking in Africa. His push to empower small and medium enterprises (SMEs) was central. From launching the Global Coalition for African SMEs to pioneering the 100,000 SMEs Campaign (an initiative targeting one million jobs in three years), his legacy is one of action.
“Africa must climb up the value chain. Supporting youth entrepreneurship, encouraging industrial clusters, and investing in digital infrastructure will also be critical,” he said in a recent interview, solidifying his status as a champion of SMEs and job creation for women and young people.
His collaborations with institutions like AfCFTA, AUDA-NEPAD, and AFD created ecosystems of support for SMEs across value chains. Under his leadership, BADEA’s capital base soared by 376%, hitting $20 billion, and the institution earned an AA1 credit rating from Moody’s as the second-highest in Africa. Assets at BADEA under his watch, was also grossly increased by 75%, rising from $4bn to nearly $7bn.
A Forward-Thinking Candidate Of Unity, Progress For Africa
At a time when Africa faces intersecting challenges—from climate shocks to infrastructure gaps—Dr. Ould Tah brings a steady hand, strategic mind, and inclusive vision. His leadership is grounded in pan-African values, institutional accountability, and sustainable growth. As a bridge between North, West, and Sub-Saharan Africa, his candidacy also promises to bring regional balance to the helm of the AfDB.
His forward-thinking approach led to the launching of the BADEA 2030 Strategy, a forward-looking blueprint centered on infrastructure, private sector development, agricultural value chains, and SME support.
These achievements are not just numbers—they reflect an ability to deliver results at scale, build investor confidence, and champion African ownership of development. Dr. Ould Tah’s experience spans across the continent and global development institutions. A former Minister of Economic Affairs and Finance of Mauritania, with senior roles at the Islamic Development Bank and Arab Authority for Agricultural Investment and Development, and Governor representing Mauritania at the World Bank, AfDB, and IsDB, Dr. Ould Tah is already prepped up for global leadership.
His fluency in Arabic, French, English, and working knowledge of Spanish and Portuguese further demonstrate his ability to build bridges across Africa’s diverse linguistic and cultural landscapes.
The Support Keeps Pouring In!
In the run up to the election, Dr. Ould Tah is garnering massive support and endorsement from key stakeholders in Africa’s political and economic landscape. In the past week, the Republic of Benin officially threw its weight behind Dr. Ould Tah. President Patrice Talon dispatched a high-powered delegation to Mauritania, bringing a personal message of endorsement to President Mohamed Cheikh El Ghazouani.
“Our brother Sidi Ould Tah has the profile and the skills required to turn the AfDB into the true development tool the continent needs today. We offer him our full support and stand ready to rally all our partners behind this candidacy,” the delegation declared.
“This support reinforces my belief that our continent is ready to unite around a shared vision for a stronger, more inclusive African Development Bank,” Dr. Ould Tah responded with gratitude:
Last week also, Dr. Ould Tah convened a high-level meeting with His Excellency, John Dramani Mahama, President of the Republic of Ghana. The engagement formed a key part of Dr. Ould Tah’s diplomatic outreach for support, as both leaders discussed strategic support to consolidate his candidacy, from the Ghanaian president whose endorsement is considered highly influential within the African political and economic landscape.
His successful track record at BADEA speaks volumes. Positioning himself as a “trait d’union”, the proven multilateral leader is poised to link Arab and sub-Saharan Africa. BADEA’s shareholders—major Arab states like Saudi Arabia and Kuwait, who are big AfDB investors, could provide massive support for his candidacy. Côte d’Ivoire’s Alassane Ouattara’s endorsement is also imminent. Côte d’Ivoire not only plays hosts the AfDB’s headquarters, but also holds nearly 4% of the votes.
About Dr. Ould Tah
Dr. Sidi Ould Tah is a distinguished Mauritanian economist and development leader who recently resigned his role as President of the Arab Bank for Economic Development in Africa, a position he held since July 1, 2015.
He began his professional journey in the 1980s, working as an expert at the Mauritanian Bank for Development and Commerce (BMDC) and later as a financial analyst at the Food Security Commission. He also held key administrative roles in Nouakchott, including Finance Manager and Director of Internal Auditing at the Port Authority. In 1996, he joined the Arab Authority for Agricultural Investment and Development (AAAID) in Khartoum as a financial analyst. Between 1999 and 2006, he served as Investment Promotion Officer and Technical Assistant to the President at the Islamic Development Bank.
Upon returning to Mauritania, Dr. Ould Tah held significant government positions, including Advisor to the President and Prime Minister (2006–2008), and Minister of Economy and Finance, followed by Minister of Economic Affairs and Development (2008–2015). He also represented Mauritania as Governor at several international financial institutions, such as the World Bank, Islamic Development Bank, African Development Bank, and the Arab Fund for Economic and Social Development.
Dr. Ould Tah holds a PhD in Economics from the University of Nice-Sophia-Antipolis and a Diplôme d’Études Approfondies (DEA) in Economics from Paris VII University. He has also completed executive programs in investment, leadership, asset management, and financial engineering at institutions such as the Harvard Institute for International Development, London Business School, and Swiss Finance Institute.
His contributions have been recognized with several honors, including the Knight Medal of the National Order of Merit of Mauritania, Senegal’s National Order of the Lion, and Officer of the National Order of Chad.
