The African Development Bank (AfDB) has reported an extraordinary 241.9% increase in its capital base over the past decade, rising from $93 billion in 2015 to a record $318 billion in 2025. The announcement comes as the institution prepares for a significant leadership transition, with a new president set to be elected during its 2025 Annual Meetings in Abidjan, Côte d’Ivoire.

Outgoing AfDB President, Dr. Akinwumi Adesina, who assumed office in 2015, highlighted key milestones achieved under his leadership, including the successful replenishment of the African Development Fund (ADF), which mobilized $8.9 billion to support low-income countries. According to Adesina, the Bank’s interventions have positively impacted over 500 million people across the continent over the past ten years.

Reflecting on his tenure, Adesina described the role as far more than a professional appointment.

“This is not a job. If anyone is looking for a job, please don’t take it. This is a mission,” he stated during a press briefing ahead of the Annual Meetings.

He noted the personal sacrifice required to lead an institution of AfDB’s scale and influence.

“As my wife Grace and the staff would tell you, for ten years, I have had no life—completely zero. I worked every single day. Every single step,” he said.

Leadership Transition Begins

The Annual Meetings, which will run from May 26 to May 30, 2025, mark a pivotal moment for the Bank as it prepares to elect a new president on May 29. The incoming leader will assume office on September 1, 2025.

The shortlist of candidates includes:

Ms. Swazi Tshabalala – South Africa
Mr. Hott Amadou – Senegal
Dr. Samuel Munzele Maimbo – Zambia
Dr. Sidi Tah Ould – Mauritania
Mr. Abbas Mahamat Tolli – Chad

The election is set to take place at the Bank’s headquarters in Abidjan, with over 6,000 delegates from 91 member countries expected to attend—making it the largest gathering in the Bank’s history.

Mission Continues Beyond Leadership

In his parting remarks, Adesina emphasized the continuity of the Bank’s mission regardless of leadership changes.

“Leadership may change, but the mission remains. The Bank’s direction is clear, its resolve strong, and its commitment to Africa’s development unshakable,” he affirmed.

Adesina’s decade at the helm of the AfDB will be remembered for transformative capital growth, renewed focus on infrastructure, energy, and food security, and a strengthened reputation as Africa’s premier development finance institution.