Nuggets from AfDB’s 2025 annual meetings in Abidjan, by Femi Adesina

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For five days (May 26-30), over 5,000 delegates and participants from 81 countries gathered in Abidjan, Côte d’Ivoire, for the 2025 Annual Meetings of the African Development Bank, AfDB. Venue was Sofitel Hotel in that country’s commercial capital.

There were Presidents in attendance from a number of African countries, as well as a battery of Vice Presidents representing their principals. President of AfDB, Nigeria’s Dr Akinwumi Adesina, said “ this will be my last and final Annual Meetings as President of the African Development Bank Group. It is a special moment to reflect on the 10-year journey of my Presidency and to give a public account of the stewardship you have collectively entrusted to my care.”

It was not his final hurray, as Adesina would not say au revoir till August 31, when he hands over to his elected successor, Sidi Ould Tah, from Mauritania.

And to the 81-member countries who elected him for two terms of five years each, he had a message:

“Thank you for electing me as President of the African Development Bank on May 28th, 2015 right here in Abidjan, in this very same hall.

“Thank you for re-electing me in 2020 to a second 5-year term, with a historic 100% of the votes of all 81 regional and non-regional shareholder countries, the first ever such in the history of the African Development Bank.

“As I have always said, being President of the African Development Bank, for me, is not a job; it is a mission. Nothing can be greater than to be given the responsibility, resources, mandate, support and the platform to help transform Africa, the continent of my birth.”

Still going down the memory lane, Dr Adesina said the most important part of the African Development Bank is the “development” part, adding that we must fast track Africa’s development.

“I am proud that over the past 10 years, the African Development Bank has been an accelerator of Africa’s development.

“The High 5s of the Bank, to light up and power Africa, feed Africa, industrialize Africa, integrate Africa and improve the quality of life of the people of Africa have been transformational for Africa.”

He said in the past decade, the work of the African Development Bank has impacted the lives of 565 million people, which includes:

28 million people with access to electricity;
104 million people with food security;
121 million people with access to improved transport;
128 million people with access to improved health services;
67 million with improved access to information and communication technology;
63 million people with access to drinking water;
34 million people with access to sanitation.

Over the ten-year period under Adesina’s presidency the African Development provided a total of $102 billion in support to Africa. This represents 46% of all the financing of the Bank since its establishment in 1964.
The African Development Bank financed over $55 billion in support of infrastructure, from roads, rails, airports, seaports, digital and communications, health, water and sanitation.

The outgoing AfDB President recounted some strides that have been taken, starting from the host country of Côte d ‘Ivoire:

“Right here in our host country, almost all the major urban infrastructure you see in Abidjan, were supported by the Bank.

“Your Excellency, President Ouattara, I am delighted to let you know that, under my Presidency, the African Development Bank’s financial support to Cote d’Ivoire grew by 157% over the last ten years.

“To put this in perspective, the total lending by the African Development Bank to Cote d’Ivoire from 1964 to 2014 (50 years) was EUR 2.3 billion. From 2015, when I was elected to the present, the Bank’s financing for Cote d’Ivoire stands at EUR 3.6 billion, 1.6 times more than what had been approved for Cote d’Ivoire in the previous 50 years.

“This includes the now famous Henri Konan Bedie bridge in Abidjan. Also, the Bank, through the Projet de Transport Urbain de la ville d’Abidjan (PTUA) financed the iconic 1,400-meter-long 4th bridge linking Yopougon to Adjame; including 88 kilometers of city highways and 89 intersections.
“It includes all the beautiful highways leading to the new Alassane Ouattara Stadium, where Cote d’Ivoire won the 2023 African Cup of Nations!

In Tanzania, the Bank is supporting the $3.2 billion standard gauge railway connecting Tanzania to the Democratic Republic of Congo and Burundi.

“We supported the transport corridor that links Addis Ababa to Nairobi and Mombasa which has reduced the time of travel from 3 days to 1 day and expanded trade between both nations by 400%.

“The Bank’s Last Mile Connectivity Project in Kenya has helped to increase the number of Kenyans connected to national electricity grid from 2.42 million households in 2014 to 9.7 million households in 2024. This helped the country increase electricity access from 36% to 76% over the same period.

“Also, the Lake Turkana wind project in Kenya is the largest operational wind power mill in Africa.
Today, the Kazungula bridge connecting Zambia to Malawi and Namibia is expanding regional trade in southern Africa.

“Since 1974, the collective dream of the people of Senegal and the Gambia was to have a bridge connecting both countries. That dream was realized by the African Development Bank and the African Development Fund. The impressive Senegambia bridge and the 24-kilometer road leading up to it has cut travel time from two days to less than 10 minutes.”

In Egypt, according to Adesina, the Bank supported the Gabal El Asfar, a wastewater treatment plant. It serves 12 million residents. It is now the largest water treatment plant in Africa and is set to serve a total of 17.5 million people by 2040.

“The Bank supported the Noor Ouarzazate solar complex in Morocco, which was the world’s largest concentrated solar power plant at the time of its completion.

“We launched the Lagos to Abidjan highway corridor for which the African Development Bank is supporting the feasibility studies, and we have mobilized $15 billion in investment interests.

“In Nigeria, we are implementing the development of special agro-industrial processing zones in 8 States and the FCT and have mobilized $2.9 billion to support the establishment of these zones in 28 more States of Nigeria.

“We have stood by countries that were under sanctions to clear their debt arrears to the Bank, including Somalia and Sudan. Today, thanks to support from the African Development Fund, Somalia is showing recovery and greater resilience.”

The past ten years, the AfDB boss said, were filled with never-before-seen multiple and simultaneous crises, from Covid 19 to geopolitical tensions emanating from the Russian war with Ukraine, which in turn triggered a global food crisis. At the same time, a global debt crisis and devastating climate change, posed untold hardships and challenges.

In the midst of these polycrises, the African Development Bank Group stood strong and innovatively supported Africa as it navigated each crisis. Africa survived. Africa was resilient. Africa grew out of them all, Adesina said.

On food security, the African Development Bank swung into action with its $1.5 billion emergency food production facility. In just 2 years, the support had allowed 14 million farmers across 30 countries to have access to improved seeds and fertilizers. They produced 44 million tons of food (116% above the target) worth $17.3 billion.

Thanks to the Bank’s support, Ethiopia increased its agricultural areas producing heat tolerant wheat varieties from 5,000 hectares in 2018, to over 650,000 hectares by 2023, allowing the country to become self-sufficient in wheat within four years.

The landmark Feed Africa Summit, which was held in Dakar, brought together over 30 Heads of State and Government, who signed the Food and Agriculture Delivery Compacts to accelerate food production and food sovereignty in their countries, which was approved unanimously by the African Union. The Bank mobilized $72 billion globally for Africa’s food security.

To fast-track access to electricity, Adesina informed, the African Development Bank and the World Bank jointly launched the Mission 300 in Dar Es Salaam, to connect 300 million people in Africa to electricity by 2030.

“At the Africa Energy Summit in January this year, we organized, hosted and co-chaired along with Her Excellency President Samia Suluhu Hassan, a historic gathering of over 48 African countries, where leaders unanimously endorsed the Dar es Salaam Declaration on Energy Access, with the full support of the African Union. The Declaration marks an unprecedented continental commitment to accelerate energy access through coordinated national actions, regional interconnections, and enhanced investment in renewables and grid expansion.

“In all, we mobilized $55 billion in support of these national energy compacts.”

In support of the youth, and to help unleash their potential, the Bank launched Youth Entrepreneurship Investment Banks, which will expand access to finance to create youth-based wealth across Africa.

Still counting blessings, Adesina said the Bank raised $8.9 billion for ADF16, the largest ever in the history of the Fund since 1973. “We innovated and developed a new financial framework that will allow the ADF to mobilize $27 billion from global capital markets.
The shareholders of the Bank showed extraordinary support and confidence in our leadership and management of the Bank.

“When I was first elected President of the Bank in 2015 the capital of the Bank stood at $93 billion. From 2015 to 2025, we have grown the Bank’s capital from $93 billion to $318 billion.

“We put the expanded capital into remarkable use with unprecedented financial support to all the African countries.”

As his mandate as President of the Bank draws to a close, Adesina said he was extremely proud of the work they have done and the incredible impact the Bank has had on the daily lives of millions of Africans. “This has been a collaborative effort that we can all take great pride in.

“We maintained the stellar AAA-credit ratings of the Bank for 10 years in a row with all three global credit ratings agencies (Fitch, Moody’s and Standard and Poor’s) even during turbulent periods of Covid19 and multiple challenges confronting several shareholder countries.

“The independent review of the governance systems of the African Development Bank by our Governors in 2020 was completed two months ago. The review showed that the African Development Bank is very well governed, respects the independence of its oversight organs and is at par with all its peers globally.

“The African Development Bank is today globally recognized and respected, ranked as the Best Multilateral Financial Institution in the world by Global Finance.”

As he completes his two five-year terms as President of the African Development Bank, Adesina is proud “of the legacy we are leaving behind … for my successor, for the Bank, and for Africa.

“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.

“I did not work or achieve alone. I worked with an exemplary group of people, at different points during the past ten years.”

Could he have forgotten his beloved Nigeria, and those who gave him robust support? Never! And so he said:

“To my beloved country Nigeria and the Presidents who nominated and supported me for election twice as President, I owe my deepest appreciation and gratitude.
To President Goodluck Jonathan who nominated me for my first term; and to President Muhammadu Buhari who carried it forward and backed my election and stood stoically behind me during challenging times and supported my re-election for second term, thank you most sincerely.

“My immense appreciation and gratitude also go to Nigeria’s former Presidents and heads of state, President Olusegun Obasanjo, General Abdusalam Abubakar, General Yakubu Gowon, General Ibrahim Babangida, and former Vice Presidents Atiku Abubakar, Namadi Sambo, Professor Yemi Osinbajo, and former Governor Ibikunle Amosun of Ogun State, all of whom played major roles in supporting me; and of course, my dear sister, Ngozi Okonjo Iweala, who as the then Minister of Finance of Nigeria was my indefatigable campaigner-in-chief in 2015.

“To President Bola Ahmed Tinubu, and to Vice President Kashim Shettima, for your support over the past two years, I am profoundly grateful. Thank you for graciously approving the replenishment of the Nigeria Trust Fund for another 15 years for $500 million.
May God bless you all our heads of state and government in Africa for your incredible kindness, support for me and my colleagues over the past decade.
And may God bless the African Union and all the Regional Economic Communities, the private sector, civil society, youth and women of Africa, multilateral and bilateral institutions, partner institutions, and media organizations who supported us along the way.
Together, we collectively joined hands around the Baobab tree of Africa’s challenges and opportunities.
Thank you all for believing in Africa.”

There were a number of side events during the five days AfDB Annual Meetings. One of such, which I attended, was the Novo Health Africa (NHA) dialogue under the theme: “Strengthening Africa’s Capital for Development: The Role of Robust Health Financing Systems Towards the Advancement of Africa’s Human Capital for Social Development and Economic Growth.”

This strategic dialogue convened a multidisciplinary panel of leaders across development finance, insurance, public policy, and technology to engage in an evidence-driven, solutions-oriented conversation aligned to four core pillars: The Economics of Health, Innovative Financing Models, Resilient Health Systems, and Policy & Regulatory Frameworks.

The event brought together over 200 stakeholders, including policymakers, development finance leaders, private investors, health insurers, and innovators, to discuss the critical role of health financing in Africa’s economic transformation.

Dr. Dorothy Jeff-Nnamani, CEO/Managing Director of Novo Health Africa, delivered compelling remarks underscoring the necessity of investing in health financing to bolster Africa’s human capital:
“If we want to strengthen human capital in Africa, we must stop seeing health as a cost and start treating it as an enabler of economic capacity—especially in the informal economy where most Africans live and work.
“Micro health insurance isn’t just about premiums—it’s about dignity, protection, and productivity for the people who drive our markets from the ground up.
“We have models that work. What we need is catalytic investment—not just in hospitals, but in people-centered financing mechanisms that remove the affordability barrier to care at the point of need.”

As the only female CEO on the panel and a staunch advocate for health equity, Dr. Jeff-Nnamani emphasized the role of private-sector innovation in strengthening health financing and infrastructure.
“Africa’s development rests not just on natural resources, but on the health of its people. Without robust, inclusive health financing systems, the continent’s productivity and future prosperity are at risk,” she said.
Her participation reflects Novo Health Africa’s continued advocacy for sustainable health financing models and mission to expand access and affordability especially for underserved communities.

The event formed part of the broader AfDB 2025 theme: “Making Africa’s Capital Work for Africa’s Development.”

Africa will never forget Akinwumi Adesina. He has left his footprints indelibly in the sands of time.

–Adesina was Special Adviser on Media and Publicity to President Muhammadu Buhari, 2015-2023