DR Tah secured more than three-quarters of shareholder votes in a closely watched election on Thursday, emerging victorious over four other candidates, including Amadou Hott (Senegal), Samuel Maimbo (Zambia), Mahamat Abbas Tolli (Chad), and Bajabulile Swazi Tshabalala (South Africa).
He is set to officially assume office on September 1.
His election comes at a pivotal moment for the AfDB, as the institution faces rising economic pressures across the continent and uncertainty over international support. Notably, U.S. President Donald Trump has proposed slashing $555 million in funding to the Bank's key development fund, an essential financial lifeline for projects considered too high-risk for private investment.
The Chairperson of the African Union Commission, Mahamoud Ali Youssouf, has extended his warm congratulations to Dr. Tah, describing his election as a testament to his exceptional leadership and steadfast commitment to advancing Africa's development agenda.
With a career in development finance spanning nearly four decades, Dr Tah brings deep experience and a reputation for reform. Most recently, he served for ten years as president of the Arab Bank for Economic Development in Africa (BADEA), where he oversaw a period of growth that saw the bank's credit rating upgraded and its assets increase from $4 billion to $7 billion.
Earlier in his career, Dr Tah was Mauritania's Minister of Economy and Finance from 2008 to 2015. He has also held positions at the Mauritanian Bank for Development and Commerce, the Islamic Development Bank, the Arab Authority for Agricultural Investment and Development (AAAID), and the country's Food Security Commission.
An economist by training, Dr Tah holds a PhD from the University of Nice Sophia Antipolis in France, a master's from Paris Diderot University, and a bachelor's from the University of Nouakchott.
In a recent interview, Dr Tah emphasised the importance of innovation and a more assertive African voice in global economic forums.
'I believe that the AfDB has the responsibility to be the voice of Africa in the international arena as far as macroeconomics and economic development are concerned,' he told The EastAfrican.
'The bank has the legitimacy, the convening power, and the ability to do so," he added.
He has also called for a shift away from excessive public borrowing toward more public-private partnerships to finance infrastructure. Dr Tah has criticised what he sees as unfair treatment of African economies in global credit markets and argued for reframing Africa's image to unlock greater investment.
As he prepares to lead one of Africa's most influential financial institutions, expectations are high that Dr Tah will focus on diversifying the AfDB's funding base and leveraging his Gulf connections to expand the bank's resources and reach.
Wycliffe Nyamasege
Source : https://en.igihe.com/business-62/article/mauritania-s-sidi-ould-tah-elected-new-president-of-afdb
