Dr. Akinwumi Adesina, the outgoing President of the African Development Bank (AfDB), is stepping down after ten transformative years that saw the Bank’s capital base soar from $93 billion in 2015 to $318 billion in 2025. This historic $225 billion increase marks the most significant capital expansion in the Bank’s history.
Adesina, a development economist and former Nigerian Minister of Agriculture, took over the AfDB with a vision to unlock Africa’s full potential through targeted investment, innovation, and inclusive growth. A decade later, his leadership is credited with reshaping the Bank into a powerful force for change on the continent.
Driving Development Through Investment
Under his watch, the AfDB invested over $55 billion in infrastructure projects, making it the continent’s largest multilateral infrastructure financier. These projects included roads, power grids, and transport systems that now connect millions across African countries.
In agriculture, the Bank launched initiatives like the Technologies for African Agricultural Transformation (TAAT) and the Africa Emergency Food Production Facility, mobilizing $72 billion to fight hunger and enhance food production. These programs helped over 101 million Africans achieve food security.
Health, Women, and Youth Empowerment
Health and human development were key pillars of Adesina’s agenda. The AfDB invested $6 billion to improve healthcare infrastructure, provide clean water to 61 million people, and deliver better sanitation to 33 million.
Women and youth also benefited immensely. Through the Affirmative Finance Action for Women in Africa (AFAWA), the Bank deployed $2.5 billion in financing to support over 24,000 women-led businesses. Additionally, more than 1.7 million youths were trained in digital and technical skills to prepare them for the modern economy.
Boosting Africa’s Global Standing
To attract private investment into Africa, Adesina established the Africa Investment Forum, which has since generated over $200 billion in investment commitments for projects across the continent.
In climate finance, he led the AfDB to become the first multilateral development bank to issue a $750 million hybrid capital bond—an innovative move to scale up climate action financing.
A Legacy That Endures
As Adesina prepares to hand over leadership in August 2025, he leaves behind a bank that is stronger, more visible on the global stage, and deeply rooted in Africa’s development goals. He has also been recognized among Africa’s 100 most influential people, with a legacy defined by results, resilience, and reform.
His departure opens a new chapter for the AfDB—but one firmly grounded on the solid foundation he built.
