Abidjan: Sidi Ould Tah, 61, from Mauritania, was elected President of the African Development Bank (AfDB) following the institution's Annual Meetings currently taking place in Abidjan, C´te d'Ivoire. This was announced in a press release published on the AfDB website.

According to Burkina Information Agency, the election took place during the meeting of the AfDB Board of Governors. Four other candidates were vying for the presidency, representing Zambia, Senegal, Chad, and South Africa respectively. Mr. Tah was elected in the third round of voting, obtaining the required two-thirds of the votes.

Mr. Tah has served as Director General of the Arab Bank for Economic Development in Africa (Badea) since 2015. He also served as Mauritania's Minister of Economic Affairs and Sustainable Development between 2008 and 2015.

He will take office on September 1, 2025, for a five-year term, succeeding Nigerian Akinwumi Adesina, who has been in office since 2015.

The African Development Bank, founded in 1964 and headquartered in Abidjan, now has 81 member countries, including 54 African countries. It is the only financial institution on the continent whose securities carry the highest investment-grade rating.