Mauritanian Sidi Ould Tah Elected President of African Development Bank
Doha – The Mauritanian economist Sidi Ould Tah has been elected president of the African Development Bank (AfDB) with 76.18% of the votes. The election took place on Thursday, during the institution's annual meetings in Abidjan.
Ould Tah prevailed after three rounds of voting, defeating Zambian Samuel Munzele Maimbo who received 20.26% of votes and Senegalese Amadou Hott with 3.55%. The two other candidates, Chadian Mahamat Abbas Tolli and South African Swazi Tshabalala, were eliminated in earlier rounds.
'I would like to thank Africa for this trust. I thank you for this confidence, and I understand the responsibility and duty that comes with it,' declared Ould Tah following his election. He concluded his brief speech in English saying: 'Now, it's time to go to work. I'm ready.'
The newly elected president brings substantial experience to the position. For the past decade, he has served as head of the Arab Bank for Economic Development in Africa (BADEA), where he significantly transformed the institution. Under his leadership, BADEA's annual commitments increased from $200 million to $2.2 billion in 2023.
Prior to BADEA, Ould Tah assumed the post of Mauritania's Minister of Economic Affairs and Development from 2008 to 2015. He holds a doctorate in economics from the University of Nice Sophia Antipolis and a postgraduate degree from the University of Paris VII.
His campaign focused on four priorities: climate resilience, economic diversification, inclusion of youth and women, and mobilizing innovative financing. He also advocates for reforming Africa's financial architecture and better integration of the informal sector through fintech and blockchain.
Read also: AfDB Accelerates Morocco's World Cup 2030 Vision with $685 Million Investment
'His various experiences have allowed him to develop expertise that will be invaluable,' said Nialé Kaba, Ivorian Minister of Economy and Planning and chair of the AfDB Board of Governors. 'He represents great hope for Africa. Given the complex international context, we need more than ever to mobilize financing. We are convinced he will succeed.'
Ould Tah will officially take office on September 1, succeeding Nigerian Akinwumi Adesina, who led the institution for ten years. Despite mixed reviews of Adesina's tenure, he leaves the AfDB in excellent financial health, with a net profit of €310 million last year.
Founded in 1964, the bank, which has 81 member countries, including 54 African nations, is one of the major multilateral development banks globally. Under Adesina's presidency, the AfDB's capital tripled from $93 billion to $318 billion.
Ould Tah inherits a ten-year strategy (2024-2033) focused on Adesina's 'High 5' priorities: feed, light up, integrate and industrialize Africa, while improving Africans' quality of life. However, he may reorient this strategy according to his own priorities, which he has called 'The Four Cardinal Points.'
The new president faces immediate challenges, including a changing international economic environment. The United States has announced plans to eliminate its half-billion-dollar contribution to the bank's fund for low-income countries on the continent.
Morocco has maintained a strong partnership with the AfDB since 1978. The bank has committed a cumulative $15 billion to the country, supporting over 150 projects in sectors ranging from human development to energy, transportation, agriculture, industry, and finance.
Notable projects include the Noor Ouarzazate solar complex and the strategic Nador West Med port. The AfDB has also supported infrastructure development in preparation for Morocco's co-hosting of the 2030 World Cup and invested over €1.5 billion in water management projects to address persistent drought. Tags: AFDBAfrican Development Bank
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Ya Biladi
7 hours ago
- Ya Biladi
Following border closures, Polisario sends delegation to Mauritania
«A few hours after the phone conversation between Algerian President Abdelmadjid Tebboune and his Mauritanian counterpart Mohamed Ould El Ghazouani, a Polisario delegation was swiftly dispatched to Nouakchott», a well-informed source told Yabiladi. «The members of this delegation landed last night at Algiers Airport. Led by Sahrawi Parliament President Hamma Salama, accompanied by a military commander, the mission's goal is to persuade Mauritanian authorities to reverse their decision prohibiting Polisario members from illegally entering Mauritania to carry out armed attacks against Morocco, particularly from the Lebriga region near the Algerian border», the source added. Last week, the Mauritanian army declared the Lebriga area «off-limits to civilians», followed by a troop deployment along the border with Algeria. On Tuesday, May 27, Mauritanian soldiers reportedly blocked Polisario members attempting to cross into the zone, forcing them to turn back towards the Tindouf camps. The Polisario delegation is hoping to secure an audience with the Mauritanian president. In Nouakchott, they also plan to meet with political party representatives and the President of the Mauritanian Parliament, who has family ties with his Polisario counterpart. It's worth noting that following a phone call from Abdelmadjid Tebboune, President Ould El Ghazouani agreed to invite Brahim Ghali to his inauguration ceremony, scheduled for August 1, 2024, marking the start of his second term.
Ya Biladi
a day ago
- Ya Biladi
Sahara : Moroccan drone strikes Polisario vehicles
On Thursday afternoon, May 29, a drone from the Royal Armed Forces (FAR) targeted and destroyed vehicles belonging to the Polisario. «The strike took place near Mijek, east of the Sand Wall, at the border with Mauritania. It is still too early to determine the exact number of casualties among members of the Front's militias. The vehicles were completely destroyed», a Moroccan security source told Yabiladi. Meanwhile, Polisario-affiliated media offered a different version of events, claiming that the Moroccan Air Force drone strike «killed Mauritanian civilians who were searching for gold». The Mauritanian press, particularly outlets based in the Zouerate region, has not yet reported on the incident. Typically, they are the first to cover FAR drone strikes when Mauritanian gold prospectors are affected, often providing the names of the victims. This was the case following the May 16 strike in the locality of Karzaze.
Morocco World
2 days ago
- Morocco World
Mauritanian Sidi Ould Tah Elected President of African Development Bank
Doha – The Mauritanian economist Sidi Ould Tah has been elected president of the African Development Bank (AfDB) with 76.18% of the votes. The election took place on Thursday, during the institution's annual meetings in Abidjan. Ould Tah prevailed after three rounds of voting, defeating Zambian Samuel Munzele Maimbo who received 20.26% of votes and Senegalese Amadou Hott with 3.55%. The two other candidates, Chadian Mahamat Abbas Tolli and South African Swazi Tshabalala, were eliminated in earlier rounds. 'I would like to thank Africa for this trust. I thank you for this confidence, and I understand the responsibility and duty that comes with it,' declared Ould Tah following his election. He concluded his brief speech in English saying: 'Now, it's time to go to work. I'm ready.' The newly elected president brings substantial experience to the position. For the past decade, he has served as head of the Arab Bank for Economic Development in Africa (BADEA), where he significantly transformed the institution. Under his leadership, BADEA's annual commitments increased from $200 million to $2.2 billion in 2023. Prior to BADEA, Ould Tah assumed the post of Mauritania's Minister of Economic Affairs and Development from 2008 to 2015. He holds a doctorate in economics from the University of Nice Sophia Antipolis and a postgraduate degree from the University of Paris VII. His campaign focused on four priorities: climate resilience, economic diversification, inclusion of youth and women, and mobilizing innovative financing. He also advocates for reforming Africa's financial architecture and better integration of the informal sector through fintech and blockchain. Read also: AfDB Accelerates Morocco's World Cup 2030 Vision with $685 Million Investment 'His various experiences have allowed him to develop expertise that will be invaluable,' said Nialé Kaba, Ivorian Minister of Economy and Planning and chair of the AfDB Board of Governors. 'He represents great hope for Africa. Given the complex international context, we need more than ever to mobilize financing. We are convinced he will succeed.' Ould Tah will officially take office on September 1, succeeding Nigerian Akinwumi Adesina, who led the institution for ten years. Despite mixed reviews of Adesina's tenure, he leaves the AfDB in excellent financial health, with a net profit of €310 million last year. Founded in 1964, the bank, which has 81 member countries, including 54 African nations, is one of the major multilateral development banks globally. Under Adesina's presidency, the AfDB's capital tripled from $93 billion to $318 billion. Ould Tah inherits a ten-year strategy (2024-2033) focused on Adesina's 'High 5' priorities: feed, light up, integrate and industrialize Africa, while improving Africans' quality of life. However, he may reorient this strategy according to his own priorities, which he has called 'The Four Cardinal Points.' The new president faces immediate challenges, including a changing international economic environment. The United States has announced plans to eliminate its half-billion-dollar contribution to the bank's fund for low-income countries on the continent. Morocco has maintained a strong partnership with the AfDB since 1978. The bank has committed a cumulative $15 billion to the country, supporting over 150 projects in sectors ranging from human development to energy, transportation, agriculture, industry, and finance. Notable projects include the Noor Ouarzazate solar complex and the strategic Nador West Med port. The AfDB has also supported infrastructure development in preparation for Morocco's co-hosting of the 2030 World Cup and invested over €1.5 billion in water management projects to address persistent drought. Tags: AFDBAfrican Development Bank
