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Five candidates are set to contest the presidency of the African Development Bank (AfDB) in a pivotal election scheduled for Thursday during the institution’s Annual General Meeting in Abidjan, Ivory Coast.
The vote comes at a time of profound shifts in global development finance. Declining concessional funding, reduced aid from wealthy nations, and volatile borrowing costs have placed added importance on the bank’s $318 billion capital base as a critical tool for Africa’s development trajectory.
As the continent grapples with widening infrastructure gaps, debt pressures, and the urgent need for climate-resilient growth, each candidate brings a distinct vision and expertise to the role.
Bajabulile “Swazi” Tshabalala: Driving Structural Reform
South African banker Swazi Tshabalala, the only female candidate, brings over 30 years of experience and most recently served as the AfDB’s Senior Vice President. She has pledged sweeping reforms to the Bank’s internal structure to ensure greater delivery capacity.
“The internal structure of the institution doesn’t facilitate the right sort of sustained focus to be able to really deliver effectively on things like infrastructure,” Tshabalala said. “We really should consolidate that.”
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She aims to position infrastructure as a cornerstone for unlocking Africa’s potential across resources, trade, and finance. Her plans include developing innovative financial instruments and building on the Bank’s recent move into hybrid capital.
Amadou Hott: Building Financial Self-Reliance
Senegal’s former Minister of the Economy, Amadou Hott, has extensive banking experience from Lagos to London. He proposes to refocus the AfDB on African self-reliance, with particular emphasis on revenue generation and private sector mobilisation.
“Revenue mobilisation is number one,” Hott stated, noting that Africa’s average tax-to-GDP ratio of 16% lags behind the OECD average of 34%.
By improving domestic revenue collection, Hott believes African countries can boost credit ratings, reduce borrowing costs, and unlock funding for key sectors such as power and infrastructure. However, he warned that a lack of well-structured, risk-mitigated projects remains a major barrier to attracting private investment.
Samuel Munzele Maimbo: Strengthening Intra-African Trade
Currently on leave from his post as Vice President at the World Bank, Zambian candidate Samuel Munzele Maimbo is campaigning on a platform of deep institutional reform and continent-wide economic integration.
“Now more than ever before, we’ve got to get trade working on the continent,” he said. “If we’re only trading 15% of our products amongst each other, our products are either rotting or they’re being undervalued.”
Maimbo proposes regulatory harmonisation, improved data systems, and behind-the-scenes financial infrastructure to foster trade and cooperation across the 54 African nations. He is backed by both the Southern African Development Community (SADC) and the Common Market for Eastern and Southern Africa (COMESA).
Sidi Ould Tah: Pursuing Economic Sovereignty
Mauritania’s former Finance Minister, Sidi Ould Tah, has led the Arab Bank for Economic Development in Africa for the past decade. He calls for the AfDB to shake off “legacy constraints” and become a catalyst for African economic sovereignty.
Tah’s agenda centres on four pillars: expanding capital mobilisation, reforming financial systems, formalising Africa’s vast informal sector, and constructing climate-resilient infrastructure.
“The AfDB must break free from legacy constraints and position itself as the driver of Africa’s economic sovereignty,” he said. He also emphasised the need for stronger partnerships with the private sector and other multilateral institutions to multiply impact: “Every $1 raised can become $10 of productive capital.”
Abbas Mahamat Tolli: Governance and Self-Sufficiency
Chadian candidate Abbas Mahamat Tolli has served as Finance Minister, Governor of the Central African regional bank, and President of the Development Bank of Central African States. He prioritises financial and agricultural self-sufficiency and governance reform.
“Africa suffers a lot of financial outflows due to fiscal evasion or mismanagement of resources,” Tolli said. “We need to better manage.”
His proposed “major overhaul” of the AfDB’s operations includes digitising financing channels, pooling risk, and scaling up public-private partnerships to ensure transparency and efficiency.
Tolli draws from personal experience, having fled civil war at age six and tended goats as a child. He says his life story gives him a unique perspective on the struggles and potential of Africa’s people.
The successful candidate will be tasked with steering the bank through an era of fiscal tightening, global economic uncertainty, and an urgent need for innovative, inclusive growth.
