The African Development Bank (AfDB) has appointed Dr Akinwumi Adesina a Nigerian National as its new President.
Dr Adesina comes in as the eighth President of the bank after Dr Donald Kaberuka’s term came to an end on 31 August.
Dr Adesina assumes office at Africa’s most notable multilateral development finance institution at the head office in Abidjan, Cote d’Ivoire. He will serve for a period of five years starting 1 September.
At 55 years, Dr Adesina is an agricultural economist and Graduate from the Purdue University in USA and the University of Ife in Nigeria. He was also the Minister for Agriculture and Rural Development in Nigeria.
According to the governing rules for AfDB, elections for the next president takes place during the annual meetings which take place when the term for the previous president is almost over.
This year’s meeting took place from May 25 and will be ending May 29.
There was intense campaigning by the eight contestants in the past three days in Abidjan. This signified the importance of the position. Elections were done by the Bank’s Board of Governors behind closed doors.
The Board has a representative in every state who is a Minister of Finance, planning or Central Bank Governors or designated alternates.
According to Dr Adesina, His vision is to Help Build a new Africa with Prosperous, Sustainable and inclusive growth. Peace, Security and Unity, Intergrationand competition are also his aims.
Only One woman, Cristina Duarte, the Minister for Finance and Planning in Cape Verde came in as third after the winner was announced.
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