Dr. Akinwumi Adesina Highlights a Decade of Remarkable Achievements

Dr. Akinwumi A. Adesina, President of the African Development Bank (AfDB), delivered a powerful farewell address at the 38th African Union Summit, marking the end of a decade of transformative leadership at the Bank.

Speaking before Heads of State and Government in Addis Ababa, Ethiopia, Adesina reflected on the remarkable achievements of the AfDB, from economic transformation to infrastructure development and financial empowerment across the continent.

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“It has been an unprecedented partnership to advance the goal of the African Union towards achieving Agenda 2063: The Africa We Want,” said Adesina, who became the first AfDB President to address the AU Summit in February 2022.

As his tenure concludes on September 1, 2025, African leaders paid tribute to his exceptional leadership and strong global advocacy for Africa, acknowledging his pioneering contributions to economic development.

Transforming Lives Across Africa

Under Adesina’s leadership, the AfDB’s High 5s Agenda—Light up and Power Africa, Feed Africa, Industrialise Africa, Integrate Africa, and Improve the Quality of Life for Africans—has impacted over half a billion people.

Key achievements include:

• 127 million people gained access to better healthcare services.
• 61 million people accessed clean water.
• 33 million people benefited from improved sanitation.
• 46 million people gained ICT connectivity.
• 25 million people received electricity access.

The Bank’s role in Africa’s energy transition was reaffirmed by the endorsement of the Dar Es Salaam Energy Declaration, a commitment to connect 300 million Africans to electricity by 2030. The initiative, backed by $48 billion from the AfDB and World Bank, secured additional $7 billion from development partners.

A Roadmap for Africa’s Economic Sovereignty

At the AU Summit, leaders endorsed four key AfDB-led initiatives, reinforcing Africa’s financial independence and sustainable growth goals:

1. African Financing Stability Mechanism (AFSM): A financial buffer to prevent debt crises, expected to save African nations $20 billion in debt servicing costs by 2035.
2. Measuring Africa’s Green Wealth: Adoption of the Baku Declaration, ensuring that Africa’s natural resources are accounted for in GDP calculations.
3. Strategic Framework for Inclusive Growth and Sustainable Development: A roadmap to enable Africa to achieve an annual GDP growth rate of at least 7% over the next five decades.
4. Dar Es Salaam Energy Declaration: A commitment to universal electricity access for Africa, backed by multilateral funding and policy action.

Tackling Food Security and Job Creation

Under Adesina, the AfDB spearheaded Africa’s food security revolution through initiatives like Technologies for African Agricultural Transformation (TAAT) and the Africa Emergency Food Production Facility.

• 101 million people became food secure.
• The Dakar 2 Food Summit (2023) mobilised $72 billion for agriculture.
• Ethiopia achieved wheat self-sufficiency and became a wheat-exporting nation within four years.

On youth empowerment, the AfDB has:

• Trained 1.7 million youth in digital skills.
• Rolled out Youth Entrepreneurship Investment Banks to support youth-led economic growth.
• Through AFAWA (Affirmative Finance Action for Women in Africa), $2.5 billion in financing has been provided to 24,000 women-owned businesses.

A Legacy of Historic Financial Mobilisation

Under Adesina’s presidency, the AfDB achieved its largest-ever capital increase, growing from $93 billion in 2015 to $318 billion.

Key financial milestones include:

• $8.9 billion secured for low-income countries through the African Development Fund.
• $55 billion invested in African infrastructure, making the AfDB the largest multilateral financier of African infrastructure.
• $3 billion for quality healthcare infrastructure and $3 billion for pharmaceutical development, leading to the establishment of the Africa Pharmaceutical Technology Foundation.
• Over $200 billion mobilised for investment through the Africa Investment Forum.

Global Calls for Financial Reform and Reparations

The AU Summit, held under the theme “Justice for Africans and People of African Descent Through Reparations”, saw participation from global political leaders, including UN Secretary-General António Guterres and Barbados Prime Minister Mia Mottley.

Guterres reiterated his support for reforming global financial systems, stating that Africa’s economies remain burdened by expensive debt repayments and unfair borrowing costs.

Mottley emphasised Africa’s strategic role in global economic trends, particularly as the continent controls 40% of the world’s minerals.

She also called for:

• Closer Africa-Caribbean ties by removing artificial trade barriers.
• Elimination of transit visa requirements to boost trade and integration.
• A proactive role for Africa in artificial intelligence to avoid technological dependency.

A Farewell with Gratitude and Hope

As he addressed the AU Summit for the last time as AfDB President, Dr. Adesina expressed deep gratitude to African leaders, the AU Commission, and the people of Africa.

“As today will be my final attendance of the AU Summit as President of the African Development Bank, I want to immensely thank Your Excellencies for your extraordinary support over the past ten years. I am very grateful for your kindness, friendship, and partnership as we forged global alliances to advance Africa’s interests,” he said.

Ethiopian Prime Minister Abiy Ahmed urged continued unity among AU member states, stating:

“In a world marked by rapid change and multiple challenges, we find ourselves at the crossroads of uncertainty and opportunity. This moment calls upon us to strengthen our collective resolve, embrace resilience, and foster unity across Africa.”

• Dr. Adesina’s speech

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Source: The African Development Bank