The Management of Heritage Times HT has congratulated Mauritania’s Dr. Sidi Ould Tah as the 9th President Elect of the African Development Bank Group (AfDB).
In a congratulatory statement issued in Abidjan, Côte d’Ivoire on Wednesday shortly after the election, Mr. Moses Siloko Siasia, Chairman of Heritage Times HT, described his victory as “well-deserved” and expressed confidence in his capacity to lead Africa’s apex financial institution towards economic growth and prosperity.
Siasia posited that Dr. Ould Tah’s selection to lead the AfDB is in recognition of his profound dedication to Africa’s development and his shared vision for a continent driven by innovation, sustainability, inclusive growth, and prosperity.
He added that in an era when Africa’s economic landscape yearns for bold vision and unshakable resolve in leadership, the emergence of the former President of the Arab Bank for Economic Development in Africa (BADEA) rings with purpose.
On his trusted pedigree to drive progress, the HT Chairman noted that Dr. Ould Tah’s “three-pronged approach to mobilize capital through diaspora funding and green bonds while maintaining strong partnerships with Global South investors; spearhead major operational reforms; and strengthen governance by empowering the AfDB Board with real oversight functions to foster a more inclusive leadership, is guaranteed to tackle AfDB’s core challenges of ineffective financing, slow project delivery and implementation, and sluggish governance”.
This is as Siasia commended the AfDB helmsman’s zest for home-grown solutions to Africa’s challenges and empowerment of small and medium enterprises (SMEs), describing it as “exceptional.”
“From launching the Global Coalition for African SMEs to pioneering the 100,000 SMEs Campaign (an initiative targeting one million jobs in three years), and collaborations with institutions like AfCFTA, AUDA-NEPAD, and AFD, ecosystems of support for SMEs were created across value chains.
“We recall that under your visionary leadership, the capital base of the Arab Bank for Economic Development in Africa (BADEA) soared by 376%, hitting a whopping $20 billion. This spurred the institution to earn an Aa1 credit rating from Moody’s—the second-highest in Africa. Assets at BADEA under your watch also increased significantly by 75%, rising from $4 billion to nearly $7 billion,” the HT Chairman added.
The pioneer Chairman of the Nigerian Young Professionals Forum (NYPF) and a former Governorship Aspirant of Bayelsa State, added further that he trusts that Dr. Ould Tah’s leadership will be instrumental in steering strategic progress and forging new pathways for Africa’s prosperity.
“You now bear the torch for a continent brimming with enormous potential and promise, as we look forward to the continued advancement of Africa’s aspirations under your stewardship.
“With your vision and experience, we are confident that the AfDB will continue to be a pillar of progress and an engine for inclusive prosperity across Africa,” the Chairman added.
A renowned economist and financial expert with over three decades of experience, Dr. Sidi Ould Tah was elected as the 9th President of the AfDB on Wednesday at the Bank’s Annual Meetings held in Abidjan, Côte d’Ivoire.
According to the Bank, Ould Tah will assume office on September 1, 2025, for a five-year term, following the expiration of the second tenure of outgoing President, Dr. Akinwumi Adesina.
The former BADEA president was elected by the AfDB’s Board of Governors, comprising Finance and Economy Ministers or Central Bank Governors of the Bank Group’s 81 regional and non-regional member countries.
The Board, which is the highest decision-making authority for the Bank Group, had announced that the winning candidate was required to obtain at least 50.01% of both the regional and non-regional votes.
As announced by Niale Kaba, Minister of Planning and Development for Côte d’Ivoire and Chairman of the Board of Governors of the Bank Group, the results showed Dr. Ould Tah winning by a landslide 76.18% of total votes. His two closest rivals were: Zambia’s Samuel Munzele Maimbo (20.26% total votes) and Senegal’s Amadou Hott (3.55% total votes).
A former Minister of Economic Affairs and Finance of Mauritania, Dr. Sidi Ould Tah brings a fresh face to the African Development Bank, appealing to those seeking a clean break from the outgoing administration and its established norms.
Prior to his election as President of the AfDB, Dr. Ould Tah declared that ineffective financing, one of the Bank’s biggest challenges, would be addressed by mobilizing innovative capital through diaspora and green bonds, improving financial efficiency, and building strong partnerships with Global South investors to attract new liquidity to Africa.
Dr. Ould Tah also proposed operational reforms to improve AfDB’s slow project implementation, reduce excessive presidential power, strengthen the Board’s oversight role, and promote inclusive leadership—starting with open staff and partner consultations within his first 100 days if elected, to foster smooth governance.
Management,
Heritage Times HT
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