ADESINA CHAMPIONS CONTINUED PUSH FOR AFRICA’S DEVELOPMENT BEYOND AFDB PRESIDENCY
AfDB President Akinwumi Adesina vows to keep mobilizing global capital for Africa, declaring his commitment to Africa’s development.
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As his presidency at the African Development Bank (AfDB) draws to a close, Dr. Akinwumi Adesina has reaffirmed his unwavering commitment to Africa’s economic transformation, declaring that his mission to mobilize global capital for the continent will not end with his tenure.
Speaking at the Standard Chartered Africa Summit in Lagos on July 31, Adesina delivered a rousing keynote address titled “Tilting Global Capital for Unlocking Investment Opportunities in Africa,” where he made clear that his passion for Africa’s development remains undiminished.
“Together, let us tilt global capital to unlock Africa’s assets,” he said to a packed audience of business leaders, policymakers, and development experts. “As I step into a new future, you can be sure this will be my focus. For I will always have Africa in my heart and my sight.”
The summit, themed “Africa to the Globe: Innovation, Resilience, and Growth,” attracted high-profile figures including Africa’s richest man, Aliko Dangote; Nigeria’s Minister of Trade and Investment, Dr. Jumoke Oduwole; business leader and academic Hakeem Belo-Osagie; and celebrated author Chimamanda Ngozi Adichie.
Adesina, often hailed as “Africa’s Optimist-in-Chief,” used the opportunity to reflect on his time at the helm of the AfDB, describing a legacy shaped by bold innovation and an unrelenting drive to make Africa globally competitive.
“Under my leadership, we have not just waited for more capital, we are innovating to do more with the capital we have,” he said. “Through our balance sheet optimization initiatives, we are stretching every dollar of risk capital further.“
He detailed how the Bank has worked to rechannel global financial flows toward African priorities through innovative mechanisms such as leveraging IMF Special Drawing Rights, expanding credit guarantees, pioneering hybrid capital transactions, and creating platforms to attract large-scale investments across key sectors, including infrastructure, energy, agriculture, and manufacturing.
Adesina highlighted the growing global appetite for investing in Africa, pointing to the success of the Africa Investment Forum and landmark deals such as the sustainable loan guarantee that unlocked €533 million for Côte d’Ivoire in 2023, a partnership with Standard Chartered that later earned international recognition at the 2025 Bonds, Loans & ESG Capital Markets Africa Awards in Cape Town.
He also praised Standard Chartered Bank’s extensive support, and he also congratulated the bank on receiving 127 accolades at the Asset Triple A Treasury Awards in Hong Kong, calling it a testament to excellence in global finance.
Adesina used the summit to issue a powerful call to action to global financial institutions, urging them to scale up their investments in Africa and work more strategically with multilateral development banks. He emphasized the importance of de-risking investments, mainstreaming ESG principles, and expanding local currency financing as tools to unlock sustainable growth.
He was joined at the summit by key AfDB officials, including Solomon Quaynor, Vice President for Private Sector, Infrastructure and Industrialization, and Dr. Abdul Kamara, Director General of the Bank’s Nigeria Country Department.
With Nigeria currently hosting the Bank’s largest active portfolio valued at $5.1 billion across 52 projects, Adesina announced new flagship initiatives such as the establishment of a Youth Entrepreneurship Investment Bank to support the next generation of African business leaders, as well as the rollout of Special Agro-Industrial Processing Zones across eight states in Nigeria.
As construction progresses in Kaduna, Cross River, Oyo, and Ogun States, Adesina confirmed that Phase Two, covering 28 additional states, will begin in September 2025.
Reflecting on his journey, Adesina said the mission to develop Africa is far from over. “My term may end, but my commitment endures,” he said. “Africa is not a problem to be solved, but it is a continent of solutions waiting to be financed. And I will keep working to tilt global capital toward its rise.”
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