In a farewell ceremony marked by glowing tributes recognizing significant milestones witnessed during his presidency, Dr. Akinwumi Adesina concluded his decade of leadership at the African Development Bank Group on Saturday August 30.
African leaders, development partners, and African Development Group staff gathered at Abidjan’s Sofitel Hotel to recognize Dr. Adesina’s contributions as he prepares to hand over the Bank’s Presidencyto Dr. Sidi Ould Tah on September 1.
Nigeria’s industry minister Dr. Doris Nkiruka Uzoka-Anite, representing President Bola Ahmed Tinubu, lauded Adesina’s impact. “He has shown us how development is not an abstract concept, but a powerful force that touches and transforms millions of lives. His legacy is not just in the projects he built, but in the excellence, integrity, and innovative spirit he instilled in every person he led,” she said.
The minister led a high-level delegation from Nigeria, Dr. Adesina’s home country, that included former Vice President Yemi Osinbajo, and state governors Seyi Makinde, Caleb Muftwang and Uba Sani of Oyo, Plateau and Kaduna States respectively.
From mission to legacy
“I came to the Bank with a mission, not to take a job,” Dr. Adesina said in his final address which ended in a standing ovation. “That mission …to be known not just for being a great bank, but for being Africa’s most trusted development financier.”
Under Adesina’s leadership, the African Development Bank Group’s High 5 strategic priorities impacted on the lives of 565 million people.
The Bank’s capital base grew from $93 billion in 2015 to $318 billion in 2024, while maintaining AAA credit ratings throughout his tenure.
Dr. Adesina enumerated the achievements of his presidency, including navigating multiple global crises and implementing significant institutional reforms.
Reaffirming his dedication to Africa’s progress, Adesina said: “I will live as an African and die as an African, and if at all possible, ask God on the last day to resurrect as an African!”
Adesina is credited for driving innovation in development finance. During his tenure the institution became the first multilateral development bank to deploy synthetic securitization. In 2024, it achieved another first by launching a private sector hybrid capital transaction worth $750 million.
Under his leadership, the Bank provided over $102 billion in support for Africa and invested over $55 billion in infrastructure, covering energy, water and sanitation, roads, transport corridors, digital infrastructure, seaports, railways, and airports.
Global recognition, African pride
Due to its transformative work, over the last decade the Bank won international recognition. In 2024, for the second year consecutively, the African Development Bank Group was ranked as the world’s most transparent financial institution for its sovereign portfolio by Publish What You Fund. The Bank’s concessional financing window, the African Development Fund, meanwhile, was named the second-best concessional financing institution globally, surpassing 55 similar organizations in developed countries.
The burdens and rewards of leadership
“Great leadership is not just about responding to a crisis, but about the preparations you put in place long before it hits,” said former Nigerian Vice President Yemi Osinbajo paying tribute to Dr Adesina’s visionary leadership. “Today, we are celebrating a triumph over adversity. The success we see now is not just from the last two years, but from the foundation laid a decade ago. The story would have been different if we had not had a readiness and a rapid response.”
Adesina thanked his wife Grace for her support, revealing that every major Bank program had passed through “rigorous weekend family-work dialogues” with her.
His staff, he added, are “the bank’s greatest asset” and “an exemplary showcase of Africa’s very best to the world.”
Transforming lives, building careers
While the macroeconomic achievements grab headlines, Dr. Adesina’s impact on individual lives – both of ordinary Africans and his own staff – tells an equally compelling story. The institutional culture he fostered led to remarkable career advancement opportunities, with 236 staff members receiving promotions during his tenure: many moving from entry-level positions into professional categories.
The commitment to gender equality was particularly striking. The percentage of women Vice Presidents increased from just 14% in 2015 to 44% in 2025, reflecting what Senior Vice President Akin-Olugbade described as inclusivity that “strengthens the Bank’s impact and embodies Africa’s talent and promise.”
These efforts did not go unnoticed by the global community. Louis Allen Worldwide ranked the African Development Bank Group among the best top 10% of the best employers in the world.
Passing the Baton
As Dr. Sidi Ould Tah prepares to assume the presidency on September 1, 2025, Dr. Adesina offered a message of confidence in institutional continuity to his successor. “Leadership may change, but the mission remains,” he stated. “The Bank’s direction is clear, its resolve strong, and its commitment to Africa’s development unshakable.”
