THE African Development Bank has directly impacted the lives of 565 million people across the continent over the past decade, marking the most transformative period in the institution’s 60-year history, outgoing President Dr. Akinwumi Adesina announced at the bank’s annual meeting.
Speaking at his farewell address in Abidjan, Côte d’Ivoire, Dr. Adesina revealed that under his leadership, the AfDB provided $102 billion in financing to African countries, representing nearly half of all the bank’s investments since its establishment in 1964.
“I am immensely proud that over the past decade, the African Development Bank has served as an accelerator of Africa’s development,” Dr. Adesina told delegates. “The Bank’s High 5s—to light up and power Africa, feed Africa, industrialise Africa, integrate Africa, and improve the quality of life for Africa’s people—have been truly transformational for our continent.”
The bank’s impact reached across multiple sectors, with 28 million people gaining access to electricity, 104 million achieving food security, and 121 million accessing improved transport infrastructure. Additionally, 128 million people received enhanced health services, while 67 million gained improved access to information and communication technology.
Infrastructure Revolution Spans Continent
The bank’s infrastructure investments of over $55 billion have reshaped the African landscape, from the iconic Fourth Bridge in Abidjan to the Lake Turkana wind project in Kenya, now the largest operational wind power facility in Africa.
“In Tanzania, we are supporting the $3.2 billion standard gauge railway connecting Tanzania to the Democratic Republic of Congo and Burundi,” Dr. Adesina said. “We supported the transport corridor linking Addis Ababa to Nairobi and Mombasa, which has reduced travel time from three days to one day and expanded trade between both nations by 400%.”
The transformation has been particularly dramatic in Kenya, where the bank’s Last Mile Connectivity Project helped increase household electricity connections from 2.42 million in 2014 to 9.7 million in 2024, boosting national electricity access from 36% to 76%.
President William Ruto of Kenya, who conferred the country’s highest national honour on Dr. Adesina, captured the sentiment: “I am proud of the journey we started together ten years ago; I can see its fruits. Kenyans can feel its benefits.”
Crisis Response Saves Continent from Food Catastrophe
The bank’s crisis management capabilities were tested during multiple global emergencies, from COVID-19 to the Russia-Ukraine war that threatened Africa’s food security. When experts predicted a catastrophic food crisis as Africa faced losing 30 million tons of imported wheat, maize, and oilseeds, the AfDB launched its $1.5 billion Emergency Food Production Facility.
“Our Feed Africa plan worked!” Dr. Adesina declared. “In just two years, our support allowed 14 million farmers across 30 countries to access improved seeds and fertilisers. They produced 44 million tons of food—116% above target—worth $17.3 billion.”
The success story extended to individual countries, with Ethiopia increasing its heat-tolerant wheat production areas from 5,000 hectares in 2018 to over 650,000 hectares by 2023, achieving wheat self-sufficiency within four years.
Record-Breaking Financial Innovation
Under Dr. Adesina’s leadership, the bank pioneered several financial innovations that expanded its impact. The AfDB became the first multilateral development bank to use synthetic securitisation in 2015 and launched the world’s first $750 million hybrid capital by a multilateral financial institution in 2024.
“When I was first elected President in 2015, the Bank’s capital stood at $93 billion,” Dr. Adesina noted. “From 2015 to 2025, we have grown the Bank’s capital from $93 billion to $318 billion.”
The bank’s COVID-19 response included launching a $3 billion social bond—the largest in world history at the time—to support African countries when they were left without vaccines, medicines, or protective equipment.
“As developed countries received second and third COVID-19 vaccine booster shots, Africa was scrambling for just one shot for its population,” Dr. Adesina recalled. “The AfDB swung into bold action.”
Continental Integration and Women’s Empowerment
The bank’s regional integration efforts included supporting the African Continental Free Trade Area with massive infrastructure investments. The historic Senegambia Bridge, connecting Senegal and The Gambia, fulfilled a 50-year dream by reducing travel time from two days to less than 10 minutes.
Women’s economic empowerment received significant attention through the bank’s Affirmative Finance Action for Women in Africa (AFAWA), which “approved $2.5 billion in support of over 24,000 women-owned businesses in Africa, expanding women’s business access to finance through 185 financial institutions in 44 countries,” Dr. Adesina reported.
Global Recognition and Future Vision
The bank’s transformation under Dr. Adesina’s leadership earned international recognition, with Global Finance ranking it as the Best Multilateral Financial Institution in the world. For two consecutive years, Publish What You Fund ranked it as the most transparent financial institution globally, scoring 98.8% on the transparency index.
“The past ten years were filled with unprecedented multiple and simultaneous crises,” Dr. Adesina reflected. “In the midst of these polycrises, the AfDB Group stood strong and innovatively supported Africa as it navigated each crisis. Africa survived. Africa was resilient. Africa grew through them all.”
As he steps down after two five-year terms, Dr. Adesina emphasised the institutional foundation he leaves behind: “We have built a world-class financial institution that will continue to advance Africa’s position within a rapidly changing global development and geopolitical environment.”
The bank’s ambitious future plans include Mission 300, launched jointly with the World Bank, aiming to connect 300 million people in Africa to electricity by 2030, with $55 billion already mobilised in support of national energy compacts.
- Dr. Adesina delivered his farewell address at the 2025 Annual Meetings of the African Development Bank Group in Côte d’Ivoire, concluding a decade of transformative leadership that repositioned the institution as a global leader in development finance.
