Adesina reaffirms commitment to Africa’s development as AfDB presidency nears end

As his tenure as President of the African Development Bank (AfDB) draws to a close on September 1, 2025, Dr. Akinwumi Adesina has reaffirmed his lifelong commitment to mobilising global capital to unlock Africa’s development potential.

Speaking at the Standard Chartered Africa Summit held in Lagos on July 31, Adesina delivered a keynote address titled “Tilting Global Capital for Unlocking Investment Opportunities in Africa”, where he declared:

“Together, let us tilt global capital to unlock Africa’s assets. As I step into a new future, you can be sure this will be my focus! For I will always have Africa in my heart and in my sight.”

The summit, themed “Africa to the Globe: Innovation, Resilience, and Growth”, convened leading voices from across the continent, including Aliko Dangote; Nigeria’s Minister of Trade and Investment, Dr. Jumoke Oduwole; FSDH Chairman and Harvard lecturer Hakeem Belo-Osagie; and award-winning author Chimamanda Ngozi Adichie.

Known for his enduring optimism about Africa, Adesina opened his remarks by embracing the title he has come to be known by:

“How can someone called ‘Africa’s Optimist in Chief’ not speak about Africa?”

Reflecting on his 10-year leadership at the AfDB, Adesina highlighted bold financial innovations that have defined his presidency:

Over $102 billion in low-cost financing approved for African nations since 2015

Capital base increase from $93 billion in 2015 to $318 billion in 2024—the highest in the Bank’s 60-year history

Leadership in pushing for IMF Special Drawing Rights (SDRs) rechanneling to multilateral development banks, which can be leveraged 4–8 times using hybrid capital structures

Creation of the Africa Investment Forum, which has attracted $225 billion in investment interest since 2018 across infrastructure, energy, manufacturing, and agribusiness

Largest-ever social bond issuance by a multilateral development bank: $14 billion over the past eight years

$10 billion in global benchmark bonds raised in 2025 alone to finance development projects

First-ever synthetic securitization of a non-sovereign portfolio by a multilateral bank: $1 billion in private sector loans

First-ever private sector hybrid capital transaction: a $750 million offering with a record-breaking $5.1 billion book order from over 275 investors

‘Room to Run Sovereign’ initiative, unlocking $2 billion in new sovereign lending space

16 guarantees worth nearly $3 billion, mobilising $5 billion for key African economies

A $250 million guarantee that enabled Egypt to issue Africa’s first Panda Bond worth $500 million on China’s capital market

Adesina also applauded Standard Chartered Bank for its collaborative efforts with the AfDB, citing the bank’s role in a 2023 partial credit guarantee that unlocked €533 million in sustainable financing for Côte d’Ivoire—a deal that won ‘Sovereign Syndicated Loan Deal of the Year’ at the 2025 Bonds, Loans & ESG Capital Markets Africa Awards.

He also congratulated Standard Chartered for winning 127 global awards, including Best Transaction Bank at the Asset Triple A Treasurise Awards in Hong Kong.

Calling for deeper collaboration with global financial institutions, Adesina urged greater use of risk mitigation tools, increased local currency financing, and the mainstreaming of environmental, social, and governance (ESG) standards to scale up capital inflows to Africa.

Joining Adesina at the summit were Solomon Quaynor, AfDB Vice President for Private Sector, Infrastructure and Industrialization, and Dr. Abdul Kamara, Director General of the Nigeria Country Department.

Adesina also highlighted the Bank’s current operations in Nigeria—the largest national portfolio within AfDB—valued at $5.1 billion across 52 projects evenly split between public and private sectors. National initiatives represent 84% of the portfolio, while regional or multinational projects account for the remaining 16%.

Among the key initiatives underway in Nigeria are:

Plans to establish a Youth Entrepreneurship Investment Bank as part of a continental strategy to support young African entrepreneurs

Rollout of Phase 1 of Special Agro-Industrial Processing Zones across eight states and the FCT, with construction already underway in Kaduna, Cross River, Oyo, and Ogun

Phase 2 of the project, targeting the remaining 28 states, set to launch in September 2025

As Adesina prepares to exit the Bank’s top office, his speech reinforced a clear message: his commitment to Africa’s economic transformation will endure well beyond his official tenure.