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The African Development Bank (AfDB) has elected Mauritanian economist Sidi Ould Tah as its new president following three intense rounds of voting. His election ushers in a new era for the 60-year-old institution, which plays a critical role in financing development across Africa’s 54 nations.
Ould Tah’s appointment comes at a turbulent time. The AfDB is facing the threat of massive funding reductions, with the U.S. proposing a $555 million cut to its contributions—including to the African Development Fund, which supports the continent’s most vulnerable economies. The cuts, initiated under the Trump administration, could significantly hamper the Bank’s mission to reduce poverty and boost sustainable development. Ould Tah, a seasoned development expert and former head of the Arab Bank for Economic Development in Africa (BADEA), now faces the formidable challenge of securing alternative funding streams and reinforcing investor confidence.
His leadership is expected to be pivotal in navigating the Bank through this financial and political uncertainty, while maintaining its focus on infrastructure, climate resilience, and inclusive growth across Africa.
