Africa’s Super Banker Resumes As AfDB President, Promises To Harness Africa’s Youthful Energy, Chart Bold Compass For Transformation

Dr. Sidi Ould Tah on Monday resumed as the 9th President of the African Development Bank (AfDB), taking over from Dr. Akinwumi Adesina who exited Office on August 31, after completing his two-term tenure of five years each.

Speaking shortly after his official resumption at the AfDB Headquarters in Abidjan, Côte d’Ivoire, Ould Tah pledged to chart a bold new course for Africa’s premier financial institution and the continent it serves, declaring that: “Africa is watching. The youth are waiting. It is time for action”.

With Africa’s population projected to surge dramatically in the coming decades, Ould Tah stressed the urgency of harnessing the continent’s youthful energy. “Indeed by mid century one in four people on earth will be African. Our continent is young, ambitious and restless with potential, this is the energy that should be harnessed as the engine of our transformation,” he noted.

The seasoned Mauritanian economist unveiled his vision anchored on four guiding pillars, which he described as “cardinal points” to steer Africa’s development path.

Quoting Nelson Mandela, Ould Tah said: “The great African leader, Nelson Mandela said and I quote, ‘I have discovered a secret that after climbing a great hill that there are many more hills to climb.’ This wisdom couldn’t be more relevant for us today. This is why in citing my program I have spoken of the four cardinal points of our mandate. They represent not only structure for action, but a metaphor for our journey”.

Expanding on this, he continued: “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 group of AfDB should help Africa navigate the bigger trends towards increase in self reliance, ambition and agency”.

He pledged to steer his presidency with a mix of courage and pragmatism. “It is with this conviction that I approach my new responsibilities. I intend to begin the journey with courage and humility, with a spirit of concentration, and a commitment to pragmatism. The path ahead requires not only vision but also credibility,” Ould Tah vowed.

Ould Tah takes the helm of the AfDB at a critical time when the African continent is facing mounting debt, climate shocks, and declining donor support. His leadership is expected to mark a shift towards practical reforms, regional integration, and youth-driven development.

A seasoned economist, Ould Tah previously served as President of the Arab Bank for Economic Development in Africa (BADEA), where he oversaw significant capital growth and SME empowerment initiatives. He also held roles as Mauritania’s Minister of Economy and Finance, Minister of Economic Affairs and Development, and represented his country at the World Bank, AfDB, and Islamic Development Bank.