Latest news with #BADEA
Zawya
04-06-2025
- Business
- Zawya
Africa Investment Forum partners sign partnership framework agreement at AfDB Group's 2025 annual meetings
ABIDJAN, Ivory Coast/ -- On the sidelines of the African Development Bank Annual Meetings ( founding partners of the Africa Investment Forum signed a Partnership Framework Agreement, reinforcing their collective commitment to mobilize transformative investments across the African continent. The new framework creates a clearer partnership model that sets out the roles and benefits for the founding partners. It also opens the door for expansion to new partners, ensuring everyone benefits while increasing the Forum's overall impact. Launched in 2018, the Africa Investment Forum platform has solidified its standing as Africa's premier investment marketplace for global investors and has garnered nearly $225 billion in investment interest to date. Principals of the African Development Bank Group, Africa50, Africa Finance Corporation, Development Bank of Southern Africa (DBSA) and Arab Bank for Economic Development in Africa (BADEA) signed the agreement. The other partners are Trade and Development Bank, European Investment Bank, Islamic Development Bank and Afreximbank. Speaking at the signing ceremony, President of the African Development Bank Group and chairperson of the Africa Investment Forum, Dr. Akinwumi A. Adesina said: "This agreement is a testament to our shared vision: that Africa will not be developed by aid, but by investment. The AIF has changed perceptions and proven that Africa is indeed a bankable destination." Dr Fahad Abdullah Aldossari, Chairman of BADEA's Board of Directors said: 'The signing of the AIF Framework Agreement marks a remarkable milestone to ascertain both effectiveness and efficiency as well as financial sustainability for AIF 2.0 in a bid to advance more projects to bankability and crowd-in transformative investments to the continent.' Alain Ebobissé, CEO of Africa 50 said: 'This signature marks our renewed commitment to support the objectives of the Africa Investment Forum, launched under the visionary leadership of President Adesina. It is a much-needed deal-making platform that helps strengthen collaborations and leverage innovative models to unlock private capital to accelerate the delivery of bankable projects on the continent. It is critical for African Institutions to support it'. 'As a Founding Partner, we are proud to see this initiative formally take shape. Through AIF, we've proven what Africa can achieve when we collaborate — building the continent's first investment platform that truly mobilizes capital for bankable, high-impact projects,' said Samaila Zubairu, President and CEO of Africa Finance Corporation. "We have to continue leveraging the AIF as a platform for capital mobilisation in Africa, to bridge the infrastructure funding gap in the continent," said DBSA's CEO Boitumelo Mosako. The signing of the Partnership Framework Agreement takes place ahead of what is expected to be an expanded and impactful Market Days 2025, to be held from 26 to 28 November 2025 in Rabat, Morocco. Market Days, the centerpiece of the Africa Investment Forum platform, brings together investors, deal sponsors and heads of government to advance transformational African projects toward financial close. Distributed by APO Group on behalf of African Development Bank Group (AfDB). Media Contact: Hafsa Dia-Enoh Communication and External Relations Email: media@ SOURCE African Development Bank Group (AfDB)
Zawya
04-06-2025
- Business
- Zawya
Africa Investment Forum Partners Sign Partnership Framework Agreement at African Bank Development Bank Group's 2025 Annual Meetings
On the sidelines of the African Development Bank Annual Meetings ( founding partners of the Africa Investment Forum signed a Partnership Framework Agreement, reinforcing their collective commitment to mobilize transformative investments across the African continent. The new framework creates a clearer partnership model that sets out the roles and benefits for the founding partners. It also opens the door for expansion to new partners, ensuring everyone benefits while increasing the Forum's overall impact. Launched in 2018, the Africa Investment Forum platform has solidified its standing as Africa's premier investment marketplace for global investors and has garnered nearly $225 billion in investment interest to date. Principals of the African Development Bank Group, Africa50, Africa Finance Corporation, Development Bank of Southern Africa (DBSA) and Arab Bank for Economic Development in Africa (BADEA) signed the agreement. The other partners are Trade and Development Bank, European Investment Bank, Islamic Development Bank and Afreximbank. Speaking at the signing ceremony, President of the African Development Bank Group and chairperson of the Africa Investment Forum, Dr. Akinwumi A. Adesina said: "This agreement is a testament to our shared vision: that Africa will not be developed by aid, but by investment. The AIF has changed perceptions and proven that Africa is indeed a bankable destination." Dr Fahad Abdullah Aldossari, Chairman of BADEA's Board of Directors said: 'The signing of the AIF Framework Agreement marks a remarkable milestone to ascertain both effectiveness and efficiency as well as financial sustainability for AIF 2.0 in a bid to advance more projects to bankability and crowd-in transformative investments to the continent.' Alain Ebobissé, CEO of Africa 50 said: 'This signature marks our renewed commitment to support the objectives of the Africa Investment Forum, launched under the visionary leadership of President Adesina. It is a much-needed deal-making platform that helps strengthen collaborations and leverage innovative models to unlock private capital to accelerate the delivery of bankable projects on the continent. It is critical for African Institutions to support it'. 'As a Founding Partner, we are proud to see this initiative formally take shape. Through AIF, we've proven what Africa can achieve when we collaborate — building the continent's first investment platform that truly mobilizes capital for bankable, high-impact projects,' said Samaila Zubairu, President and CEO of Africa Finance Corporation. "We have to continue leveraging the AIF as a platform for capital mobilisation in Africa, to bridge the infrastructure funding gap in the continent," said DBSA's CEO Boitumelo Mosako. The signing of the Partnership Framework Agreement takes place ahead of what is expected to be an expanded and impactful Market Days 2025, to be held from 26 to 28 November 2025 in Rabat, Morocco. Market Days, the centerpiece of the Africa Investment Forum platform, brings together investors, deal sponsors and heads of government to advance transformational African projects toward financial close. Distributed by APO Group on behalf of African Development Bank Group (AfDB).
Kuwait Times
31-05-2025
- Business
- Kuwait Times
Mauritanian Africa's new ‘super banker'
ABIDJAN: Mauritania's former economy minister Sidi Ould Tah was on Thursday elected to succeed Nigeria's Akinwumi Adesina as president of the African Development Bank (AfDB) and tackle the withdrawal of US financing from the institution. In 2015 Adesina took six rounds of voting to become Africa's 'super banker' but Tah, 60, secured the prestigious post in only three, winning 76.18 percent of votes. Zambian economist Samuel Munzele Maimbo trailed well behind in second on 20.26 percent, with Senegal's Amadou Hott third on 3.55 percent. The winner had to secure both a majority of votes from all 81 member countries and a majority of votes from the 54 African nations who are part of the AfDB. Tah, who headed the Arab Bank for Economic Development in Africa (BADEA) for 10 years, secured 72.37 percent of African votes. 'I wish to congratulate Dr Sidi Ould Tah on his successful election as the President-elect of the African Development Bank Group,' Maimbo said in a statement. 'I entered this race driven by love and deep concern for our continent, and offered a vision for Africa's future. Today, the Governors have chosen the leader they believe will best deliver the vision of the Africa we want at this pivotal moment.' With several north African states members of the AfDB, Tah's experience at the BADEA could be a bridge with sub-Saharan Africa. In his pitch for the AfDB leadership, he vowed to strengthen regional financial institutions, assert Africa's financial independence on global markets, use population growth as a development lever and build climate change-resistant infrastructure. The AfDB, founded in 1964, is one of the world's largest multilateral development banks and is funded by member subscriptions, loans raised on global markets as well as repayments and income from loans. But Tah will immediately face a disrupted international economic environment, notably due to announcements from the US Trump administration. Beyond tariffs, the AfDB is also facing the threat of losing $500 million in US funding for its projects to support low-income countries on the continent. All five candidates in the running for the top job promised to make the AfDB even more effective to transform Africa, continuing Adesina's five priorities to light up, feed, industrialize, integrate and improve quality of life. 'I am proud of the legacy we are leaving behind for... my successor, for the bank and for Africa,' the outgoing president said in a speech on Tuesday. 'We have built a world-class financial institution that will continue to advance Africa's position within a rapidly changing global development and geopolitical environment,' he added. Adesina said 565 million people had benefited from AfDB projects during his decade in charge. Major projects include support for the construction of the Gabal El Asfar wastewater treatment plant in Egypt — the largest in Africa. The bank also helped finance a bridge connecting Senegal and the Gambia, expanded the port of Lome in Togo and supported sanitation projects in Lesotho and access to electricity in Kenya, he said. From 2015 to this year, the bank's capital more than tripled from $93 billion to $318 billion, he added. — AFP
Qatar Tribune
29-05-2025
- Business
- Qatar Tribune
Mauritanian Africa's new ‘super banker'
Agencies Mauritania's former economy minister Sidi Ould Tah was on Thursday elected to succeed Nigeria's Akinwumi Adesina as president of the African Development Bank (AfDB) and tackle the withdrawal of US financing from the institution. In 2015 Adesina took six rounds of voting to become Africa's 'super banker' but Tah, 60, secured the prestigious post in only three, winning 76.18 percent of votes. Zambian economist Samuel Munzele Maimbo trailed well behind in second on 20.26 percent, with Senegal's Amadou Hott third on 3.55 percent. The winner had to secure both a majority of votes from all 81 member countries and a majority of votes from the 54 African nations who are part of the AfDB. Tah, who headed the Arab Bank for Economic Development in Africa (BADEA) for 10 years, secured 72.37 percent of African votes. 'I wish to congratulate Dr Sidi Ould Tah on his successful election as the President-elect of the African Development Bank Group,' Maimbo said in a statement. 'I entered this race driven by love and deep concern for our continent, and offered a vision for Africa's future. Today, the Governors have chosen the leader they believe will best deliver the vision of the Africa we want at this pivotal moment.' With several north African states members of the AfDB, Tah's experience at the BADEA could be a bridge with sub-Saharan Africa. In his pitch for the AfDB leadership, he vowed to strengthen regional financial institutions, assert Africa's financial independence on global markets, use population growth as a development lever and build climate change-resistant infrastructure. The AfDB, founded in 1964, is one of the world's largest multilateral development banks and is funded by member subscriptions, loans raised on global markets as well as repayments and income from loans. But Tah will immediately face a disrupted international economic environment, notably due to announcements from the US Trump administration. Beyond tariffs, the AfDB is also facing the threat of losing $500 million in US funding for its projects to support low-income countries on the continent. All five candidates in the running for the top job promised to make the AfDB even more effective to transform Africa, continuing Adesina's five priorities to light up, feed, industrialize, integrate and improve quality of life. 'I am proud of the legacy we are leaving behind for... my successor, for the bank and for Africa,' the outgoing president said in a speech on Tuesday. 'We have built a world-class financial institution that will continue to advance Africa's position within a rapidly changing global development and geopolitical environment,' he added. Adesina said 565 million people had benefited from AfDB projects during his decade in charge. Major projects include support for the construction of the Gabal El Asfar wastewater treatment plant in Egypt — the largest in Africa. The bank also helped finance a bridge connecting Senegal and the Gambia, expanded the port of Lome in Togo and supported sanitation projects in Lesotho and access to electricity in Kenya, he said. From 2015 to this year, the bank's capital more than tripled from $93 billion to $318 billion, he added.
Zawya
29-05-2025
- Business
- Zawya
Sidi Ould Tah elected ninth president of the African Development Bank Group
Sidi Ould Tah of Mauritania was today elected President of the African Development Bank Group ( at the Bank's Annual Meetings held in Abidjan, Côte d'Ivoire. Tah was elected by the Bank'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 is the highest decision-making authority for the Bank Group. The results were announced by Nialé Kaba, Minister of Planning and Development for Côte d'Ivoire, and Chairman of the Board of Governors of the Bank Group. Addressing the Bank Group's governors ( and the media shortly after the announcement, Tah said, 'Let's go to work now, I'm ready!' The winning candidate is required to obtain at least 50.01% of both the regional and non-regional votes ( Tah brings over 35 years of experience in African and international finance. He served as president of the Arab Bank for Economic Development in Africa (BADEA) for 10 years from 2015, where he led a full transformation that quadrupled the Bank's balance sheet, secured a AAA rating, and positioned it among the top-rated development banks focused on Africa. A former Minister of Economic Affairs and Finance of Mauritania, Tah has held senior roles in multilateral institutions and has led crisis response, financial reform, and innovative resource mobilization for Africa. The Board of Governors Steering Committee received and approved a total of five candidates by the closing date of 31 January 2025. The list of candidates was officially announced on 21 February 2025. The other candidates in the election were: Amadou Hott (Senegal) Samuel Maimbo (Zambia) Mahamat Abbas Tolli (Chad) Bajabulile Swazi Tshabalala (South Africa) Tah will assume office on 1 September 2025, for a five-year term, following the end of the second mandate of current President, Dr. Akinwumi Adesina. The African Development Bank's past heads since its inception in 1964 are: Mamoun Beheiry (Sudan), 1964-1970 Abdelwahab Labidi (Tunisia), 1970-1976 Kwame Donkor Fordwor (Ghana), 1976-1980 Willa Mung'Omba (Zambia), 1980-1985 Babacar N'diaye (Senegal), 1985-1995 Omar Kabbaj (Morocco), 1995-2005 Donald Kaberuka (Rwanda), 2005-2015 Dr. Akinwumi Adesina (Nigeria), 2015-2025. The election ( of a new president comes at a crucial time in the Bank Group's six decades of existence. Africa has remained resilient despite climate shocks, economic disruption, and a shifting geopolitical landscape, but needs to move faster or risk falling behind on delivering on the African Union's Agenda 2063 and the Sustainable Development Goals, summed up in the Bank Group's High 5's. The 2025 Annual Meetings of the African Development Bank Group are taking place from May 26 to 30 in Abidjan, Côte d'Ivoire under the theme 'Making Africa's Capital Work Better for Africa's Development.' The African Development Bank Group comprises three entities: the African Development Bank, the African Development Fund and the Nigeria Trust Fund. Its shareholder countries include 54 African countries or regional member countries, and 27 non-African countries or non-regional member countries. Distributed by APO Group on behalf of African Development Bank Group (AfDB).
