By Staff Reporter
Finance minister Dr Situmbeko Musokotwane has expressed confidence that the newly elected Africa Development Bank President Dr Sidi Ould Tah will take the bank to higher heights.
Dr Tah, who is former Mauritania’s economy minister defeated Zambia’s candidate Dr Samuel Munzele Maimbo, for the position of AfDB president during last week’s elections.
Dr Musokotwane who was tasked to deliver a vote of thanks for the outgoing President Dr Akinwuni Adesina by the 81 governors of the AFDB, thanked D Adesina for what he described as exceptional leadership, vision and strategic acumen with which he managed and led affairs of the bank during his tenure from September 2015.
He said that Dr Adesina spared no effort in expanding the bank’s global presence, convening power and normative influence in the international community, including participation in the G7 and G20.
He hailed Dr Adesina for the milestone which included the transformative agenda centered on the high five priorities which impacted the lives of over 565 million people across the continent.
“The successful mobilisation of 23 billion U.S dollars in the last three replenishment of resources for the African Development Fund, cumulative lending of over $102 billion between 2015 and 2024, and innovative approaches to capital markets are some key issues during your tenure,” Dr Musokotwane said.
He said others included the bank’s issuance of first hybrid capital among multilateral developments and unlocking new class for global institutional investors, including maintaining the bank’s triple A rating over a decade marked by global turbulence, including pandemics, climate shocks, food and energy crisis, debt distress and mounting development financing gaps.
“As I close, I wish you well. I also want to welcome the new President of the bank, Dr SIDI OULD TAH. He’s not a strange person to most of us. We interacted with him while he was at BADEA. I am confident that is going to take the bank to higher heights. Dr. ADESINA, well done and all the best,” said Musokotwane.
