Ivorian President Alassane Ouattara opened the African Development Bank Group’s 2025 Annual Meetings with a rousing call for Africa to mobilize its own capital, accelerate regional integration, and chart a new path of economic self-reliance.
The host country head urged African nations and their international partners to capitalize on the continent’s resources and youth to spur transformative, inclusive growth.
He praised the Bank Group for its transformative impact across the continent under the leadership of President Akinwumi Adesina, who is concluding his decade-long tenure at the end of August this year—a period that saw the Bank emerge as a global leader in development finance: “Despite the challenges Africa has faced in recent years, it is clear that the situation would have been far worse without the African Development Bank’s intervention… You have revitalized this institution. Congratulations once again, my friend and dear brother.”
In an emotional farewell speech, Adesina gave an upbeat account of his 10 years at the helm of Africa’s premier development finance institution but also warned that the continent needs to stand on its own two feet.
“This is no longer a time to depend on fragments of foreign aid,” Adesina said. “Africa must unlock its own resources—human, financial, natural—and build internal value chains that drive inclusive growth.”
Adesina thanked Africa’s leaders and his staff for helping make a reality the Bank’s “High 5s” strategy, which has improved the lives of 565 million Africans.
Over the past decade, the Bank has invested $102 billion, representing 46 percent of its total funding since its creation in 1964. This includes $55 billion in infrastructure and support for Mission300—a bold initiative to provide 300 million Africans with electricity by 2030. Through the Africa Investment Forum it has mobilized a further $225 billion in investment interest.
In a video tribute, United Nations Secretary-General António Guterres hailed Adesina for his visionary leadership and commitment to inclusive and sustainable development across the African continent: “The United Nations thanks you and looks forward to building on your remarkable record in the years ahead,” Guterres said. “Thank you for all you have done to advance inclusive development and a fairer global financial order.”
Source: African Development Bank (AfDB)
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