RABAT: As Dr. Akinwunmi Adesina concludes his tenure as President of the African Development Bank (AfDB), he reflects on a decade marked by significant achievements and formidable challenges. Under his leadership, the AfDB has made notable strides in bridging Africa’s infrastructure gap and advancing economic growth across the continent.
According to News Agency of Nigeria, Adesina’s presidency has been characterized by transformative initiatives, including the Africa Investment Forum (AIF). Launched in 2018, the AIF has mobilized nearly $180 billion in investment interest, fostering a new era of collaboration and innovation. His leadership has been recognized with the ‘African of the Decade’ award, sponsored by the All-Africa Business Leaders Awards, ABN Group, and CNBC Africa, celebrating his profound impact on the continent.
Adesina’s strategic vision, encapsulated in the High 5s development agenda, has addressed critical areas such as energy, agriculture, and industrialization. His efforts secured $7.6 billion in funding commitments through the African Development Fund (ADF) replenishment, supporting low-income countries and fragile states. He has also been a vocal advocate for climate action, women’s empowerment, and youth employment, launching several initiatives to promote sustainable development.
Despite these accomplishments, Adesina’s tenure faced challenges, including allegations of corruption in 2020, which an independent investigation ultimately dismissed. The incident, however, highlighted governance issues within the AfDB and underscored the importance of transparency. Additionally, Adesina navigated funding constraints, geopolitical tensions, and regional complexities, striving to maintain the bank’s impact and relevance.
As Adesina prepares to hand over leadership, his legacy will likely be remembered for advancing Africa’s development and setting a robust foundation for future growth. His successor will inherit both the successes and the challenges that defined his presidency, as the AfDB continues to play a crucial role in the continent’s economic transformation.