AfDB: Mozambique President extols Adesina’s transformation
yarkarkara
By Jimoh Babatunde
As Dr. Akinwumi Adesina prepares to hand over the leadership of the African Development Bank (AfDB) on 1 September 2025, he has insisted that his legacy is not a personal one. His statement came as Mozambique’s President, Daniel Chapo, hailed him for a decade of transforming ambition into measurable outcomes.
Speaking at the opening of the Africa50 General Shareholders’ Meeting in Maputo, President Chapo credited Adesina’s tenure with improving the lives of millions across Africa through his leadership of the AfDB and as Board Chair of Africa50, an investment platform established by African governments and the Bank to close the continent’s infrastructure financing gap.
“Your legacy is not just institutional but one that impacts the lives of Africans,” Chapo said. “We thank you and wish you the most success for what the future has in store.”
Africa50 CEO, Alain Ebobissé, also paid tribute to Adesina, highlighting the success of the Alliance for Green Infrastructure in Africa (AGIA), an initiative launched under his leadership to mobilize up to $10 billion for green infrastructure opportunities.
But Adesina was quick to downplay personal praise. “My legacy is not a personal one. My legacy is an Africa strong enough to deliver finance for its transformation at scale. We have come of age, we can handle issues ourselves, and we can deliver,” he declared.
He urged African leaders to pursue bold, collective visions that are translated into tangible results, particularly in power generation, as the foundation of economic growth. “Economies without power can never grow. It’s directly correlated with GDP growth. You can’t create jobs, you can’t industrialize, and you can’t be competitive in the dark,” he emphasized.
Challenging perceptions of Africa as a high-risk investment destination, Adesina cited Moody’s data showing cumulative losses on African infrastructure investments at just 1.9 percent over 15 years—lower than in other regions. “Africa is not as risky as it is perceived. You can invest in Africa, get great returns, and have institutions like us ensuring your capital comes, stays, grows, and remains secure,” he said.
On youth, he emphasised the need to harness Africa’s 420 million young people as a demographic dividend. “Everything we do must focus on African youth. If you don’t create youth-based wealth, who will pay the taxes of the future?”
At a fireside chat moderated by Nozipho Mbanjwa-Tshabalala, CEO of The Conversation Strategists, Adesina’s legacy was dissected through the lenses of institutional transformation, record-breaking achievements, and renewed global confidence in Africa’s development prospects.
A Decade of Unprecedented Growth
Under Adesina’s stewardship, the AfDB achieved remarkable growth, increasing its capital from $93 billion in 2015 to $318 billion in 2024. This expansion enabled the Bank’s flagship High 5s initiatives to positively impact the lives of 565 million Africans, advancing energy access, food security, industrialization, regional integration, and improvements in quality of life.
The Bank was ranked the world’s best multilateral financing institution for two consecutive years and maintained its AAA credit rating throughout his tenure, even during the COVID-19 pandemic.
Africa50: From Vision to Global Player
Adesina’s impact also extended to Africa50, which matured into a global infrastructure facilitator. The platform now manages $1.4 billion in assets, with portfolio companies valued at over $8 billion. Its 33 active projects span energy, transport, digital infrastructure, healthcare, and education across 32 countries. Additionally, it raised $275 million for the Africa Infrastructure Acceleration Fund from more than 20 African institutional investors.
The post AfDB: Mozambique President extols Adesina’s transformation appeared first on Vanguard News.
