By Dr. Bernard TAWIAH
In May 2025, the African Development Bank (AfDB) will elect its new president, a decision that will have profound implications for Africa’s economic trajectory.
Among the contenders, Dr. Samuel Munzele Maimbo, a seasoned Vice President at the World Bank with 30 years of development finance experience, stands out as a visionary leader who can address the continent’s most pressing challenges.
His candidacy embodies the hope and promise of a brighter future for Africa through his dynamic and actionable priorities.
Efficiency and impact: maximizing the AfDB’s potential
Dr. Maimbo’s commitment to efficiency and impact centers on strengthening the AfDB’s internal governance, productivity, and financial capacity. He advocates for reconstructing teams in high-priority areas, incorporating data analytics, and streamlining operations to deliver better outcomes for member states.
This efficiency focus underpins his ability to drive transformative investments in energy and infrastructure, which are critical for revitalizing Africa’s economic growth. By leveraging his expertise in strategic planning and resource mobilization, Dr. Maimbo aims to unlock the AfDB’s full potential.
Economic transformation: driving inclusive growth
Africa’s economic growth has slowed significantly in recent years, with projections indicating a decline from 3.6percent in 2022 to 3.1percent in 2023. Despite economic growth in the aggregate, the average African is getting poor and economic inequality continues to increase. This stagnation stems from global economic uncertainties, underperforming large economies like Nigeria and South Africa, and persistent high inflation.
Dr. Maimbo’s economic transformation strategy addresses these concerns with precision, emphasizing targeted investments in sectors that generate jobs at pace and scale. His platform prioritizes public financial management, infrastructure development, and value-added industries, creating the foundation for long-term, inclusive growth. Energy remains at the heart of this transformation. Only 50percent of Africa’s 1.37 billion people have access to electricity.
Our continent’s energy sector receives just US$20 billion in investment, far short of the US$70-90 billion needed. But for Dr. Maimbo, it’s not only a numbers game – it’s about pursuing the right, and most practical, solutions. Recognizing that robust energy infrastructure is crucial for productivity, Dr. Maimbo advocates for expanded investment in renewable energy and power systems and greater regional integration to power parts of our continent.
This aligns with his broader vision to mobilize substantial concessional financial resources and leverage private-public partnerships to close infrastructure gaps. Under his leadership, the AfDB could unlock unprecedented growth opportunities across the continent.
Job creation: bridging opportunity gaps
Africa’s youthful population—set to account for a quarter of the global workforce by 2050— is its greatest asset.
Dr. Maimbo’s focus on job creation aims to bridge opportunity gaps through transformative investments in education, skills development, and healthcare. His vision prioritizes inclusive growth, particularly by empowering women, youth, and underserved rural and urban communities.
By scaling up digital government initiatives and ensuring access to quality education, Dr. Maimbo’s agenda seeks to prepare Africa’s workforce for the demands of the future global economy.
His vision for job creation also intersects with the need for robust agricultural and trade systems, and to help governments better serve urban and rural communities. By addressing infrastructure deficits and fostering regional integration, Dr. Maimbo seeks to catalyze economic activity and create sustainable employment opportunities. His approach emphasizes value addition and the development of small and medium-sized enterprises (SMEs) as engines of growth.
Climate resilience: building a sustainable future
Climate change poses a severe threat to Africa, exacerbating vulnerabilities and threatening economic stability. Seven of the ten countries most vulnerable to climate change are in Africa, necessitating immediate action.
Dr. Maimbo’s vision integrates resilience-building into the AfDB’s core agenda by championing investments in climate-resilient infrastructure, early warning systems, and renewable energy projects.His focus on future-proofing Africa’s development ensures that climate adaptation and mitigation are central to the Bank’s operations.
Why Dr. Maimbo is the right choice
Dr. Maimbo’s candidacy is built on an impressive track record at the World Bank and a clear vision for Africa. With Dr. Maimbo at the helm, the AfDB can become the driving force behind a prosperous, resilient, and inclusive Africa. His presidency would not only elevate the Bank’s impact but also solidify Africa’s role as a critical player in the global economic landscape.
For Dr. Maimbo, the time for endless discussion about Africa’s potential is over— Africa needs action, and it needs it now. In Dr. Maimbo, Africa finds not just a candidate but a champion—a leader who truly represents the hope of the continent.
>>>the writer is an Assistant Professor of Finance
