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A REVIEW OF AKIN ADESINA’S DECADE
JOSHUA J. OMOJUWA pays tribute to Akinwumi Adesina, President of the African Development Bank
Have you ever wondered what it’d look like to have a President of Africa? Someone to decide the policy direction, infrastructural fate, and help advance prosperity across the continent. I have. In deed, there may never be one. It takes a lot uniting many of the individual countries, one cannot begin to imagine what it’d take bringing Africa under one sovereign umbrella.
Based on today’s realities, the closest to a President of Africa would be the President of the African Development Bank Group (AfDB). Some could argue whoever leads the African Union (AU) ought to take precedence, but whilst that position probably has more political bearing, by design, it doesn’t leave development in its wake the way the AfDB has done across the continent. The numbers could not be more impressive.
He is no President of Africa and has never pretended to be one, but in the last decade, Nigeria’s Dr. Akinwumi Adesina has filled in that role far too many times to not get one wondering, what if? It is a tough ask to capture a decade’s worth of an extraordinary run in a short piece, but a few things stand out. It was quite beautiful to watch him extend his gratitude to leaders across Africa who have impacted his work in different ways, more so when he reeled out names of Nigerian leaders and their shades of support, whether it was President Goodluck Jonathan nominating him for the role, or President Buhari who not only backed his re-election but stood with him when he needed support at a time his re-election came under threat. In the end, he won a unanimous re-election. The AfDB Group president’s gratitude was also reserved for President Bola Tinubu and Vice President Kashim Shettima, specifically thanking them for replenishing the Nigeria Trust Fund at $500m for the next 15 years.
Adesina’s leadership at the AfDB has been exemplary. When he assumed the presidency of the bank in 2015, as in the many decades before, the continent was running short on its development indices and expectations. This was about the time commodity prices were taking a dip around the world. The bank stepped in. The AfDB under his stewardship has consistently advocated for Africa’s development, with a focus on improving the continent’s infrastructure, increasing access to energy, improving agricultural productivity, and fostering sustainable development.
Adesina’s major accomplishments have been built on the bank’s High 5s. Five key priorities that would shape the development agenda for Africa. These are: Light up and power Africa; Feed Africa; Industrialize Africa; Integrate Africa; and Improve the quality of life for the people of Africa. Through these priorities, Adesina sought to direct the bank’s resources toward projects that have gone on to accelerate the continent’s economic transformation.
Under his leadership, the AfDB has facilitated billions of dollars in investments aimed at providing critical infrastructure. Take the $3.2 billion standard gauge railway which connects Tanzania to the Democratic Republic of Congo and Burundi. Massive development of the transport corridor in East Africa linking Addis Ababa to Nairobi and Mombasa. This helped to reduce travel time from three days to one whilst expanding trade between both countries by some 400 percent. There is the Kazungula bridge. This connects Zambia to Malawi and Namibia, helping to boost regional trade down south. There is the Senegambia bridge, connecting Senegal and The Gambia. One could do an entire book on the infrastructural interventions alone, with every region of the continent benefitting from strategic infrastructure intended to advance continental trade, fast-track commerce and boost productivity.
The Desert to Power initiative, which aims to create the world’s largest solar zone in the Sahel region, is a prime example of how the bank is pursuing energy security for the continent. Through these projects, Adesina has solidified the AfDB’s position as a crucial player in Africa’s economic integration. He has also been a tireless advocate for Africa on the global stage. His advocacy for African economies to have more representation in global financial institutions like the World Bank and the International Monetary Fund (IMF) helped put the spotlight on Africa’s development needs. He also raised his voice on critical global issues, such as the impact of climate change on African countries, the need for debt restructuring, and equitable access to vaccines during the COVID-19 pandemic.
His leadership at the AfDB was instrumental in pushing for greater investment in Africa’s future workforce. Recognizing that Africa’s demographic dividend could either be a blessing or a curse, Adesina has championed the need for investments in education, skills training, and job creation, particularly for Africa’s youth.
When the COVID-19 pandemic struck, Africa needed to stand for itself. As countries across the continent faced lockdowns, rising unemployment, and economic contractions, the AfDB responded swiftly. The bank released $10 billion in emergency funding to help African countries fight the virus and mitigate the economic fallout. One of Adesina’s landmark moments during the pandemic was securing a $3 billion bond issue to help address the immediate needs of African governments in their fight against COVID-19. This was not only a demonstration of the bank’s financial strength but also its commitment to supporting Africa’s most vulnerable nations during an unprecedented crisis.
Beyond the specific policies and projects, what stands out most about Adesina’s leadership is his focus on building partnerships across the continent. His ability to bring together governments, the private sector, and civil society has been one of his defining traits. From the African Union’s Agenda 2063 to the African Continental Free Trade Area (AfCFTA), he has been a vocal supporter of pan-African initiatives that aim to create a unified and prosperous Africa.
As his tenure draws close, there’s no question that Dr. Akinwumi Adesina’s leadership of the AfDB has been nothing short of historic. His work, passion, and unwavering commitment to Africa’s prosperity have had a lasting impact on the continent’s trajectory. Whilst the title of “President of Africa” may not exist, Akin Adesina’s influence in shaping Africa’s future stands out. He is set for a historic bow this September.
Omojuwa is chief strategist, Alpha Reach/BGX Publishing
