World Bank Group President Ajay Banga has commended African Development Bank Group President Dr. Akinwumi Adesina for his “transformative leadership” as he concludes his decade-long tenure at the end of August this year.
In a video tribute relayed on the final day of the Bank Group’s Annual Meetings in Abidjan, Côte d’Ivoire, Banga praised Dr. Adesina’s unwavering dedication to Africa’s development over the past ten years.
“Akin, I know this marks your final Annual Meeting as president of the African Development Bank—and what a tenure you have had! You brought vision, energy, and relentless determination to the job, and it’s been an absolute privilege to learn from you and work alongside you,” Banga said.
Reflecting on the strong personal and institutional partnership between the World Bank and the African Development Bank, Banga emphasized the foundation of mutual respect and a shared commitment to Africa’s future:
“I think our personal relationship, which started when I came to visit you when I was just a candidate for the job, helped to lay the groundwork for a renewed and stronger partnership between our two institutions. But friendship alone is not a strategy—and we both knew that.”
President Banga highlighted the prospects of a new partnershipbetween the two multilateral development banks, driven by impact and alignment on strategic priorities. One such example is the Mission 300 initiative, a joint effort to connect 300 million people to electricity across Africa.
“It’s a shared ambition to bring energy to 300 million people in Africa, a demonstration of what’s possible when the MDBs work like a system—We each play to our strengths, but we’re very aligned on the outcome.”
“I think we’ve made real progress in a short time, but the eyes of the world are upon us. What we need to show is real progress, real results, real opportunities for the private sector. That’s how we create jobs; that’s how we’ll improve the quality of life across the continent,” Banga affirmed.
Shareholders of the Bank on Thursday elected former Mauritanian Finance Minister Sidi Ould Tah as Adesina’s successor. Until recently, Tah served as president of the Arab Bank for Economic Development in Africa (BADEA) for 10 years.
As the Bank prepares to transition into new leadership, Banga expressed confidence in the continued strength of the World Bank–African Development Bank partnership. “It’ll grow stronger because our work is far from done, and we are united in our shared purpose.”
“From all of us at the World Bank Group, Akin, thank you, thank you for your leadership, thank you for your friendship, thank you for your passion, and thank you for your commitment to Africa, and thank you to all of those in the African Development Bank for your leadership, your excellence in working together with all of us. We’re very proud to be your partners,” Banga said.
Delivering his final Annual Meetings speech to a packed audience on Tuesday, Adesina gave an upbeat account of his 10 years at the helm of Africa’s premier development finance institution but also warned of the need for the continent to stand on its own two feet. “I earnestly gave Africa my heart, my mind, and my all.”
The Bank Group’s 2025 Annual Meetings were held under the theme “Making Africa’s Capital Work Better for Africa’s Development.” The Bank Group’s august gathering was attended by several heads of state and government including the host President Alassane Ouattara, Ghana’s President John Mahama and Azali Assoumani of the Union of the Comoros, and more than 6,000 delegates from various parts of the world.
