Following a vote at the African Development Bank’s (AfDB) annual conference in Ivory Coast, the lender announced on Thursday that former Mauritanian Finance Minister Sidi Ould Tah had been chosen president of the organization.
He will succeed Nigerian economist Akinwumi Adesina, who will leave office in September after serving the maximum of two five-year terms.
Owned by 54 African governments and non-regional countries like the United Nations, Japan, and Saudi Arabia, the AfDB has $318 billion in capital. Nigeria is its largest shareholder.
Following a vote at the African Development Bank’s (AfDB) annual conference in Ivory Coast, the lender announced on Thursday that former Mauritanian Finance Minister Sidi Ould Tah had been chosen president of the organization.
He will succeed Nigerian economist Akinwumi Adesina, who will leave office in September after serving the maximum of two five-year terms.
Owned by 54 African governments and non-regional countries like the United Nations, Japan, and Saudi Arabia, the AfDB has $318 billion in capital. Nigeria is its largest shareholder.
