LAGOS, Nigeria – As his presidency of the African Development Bank (AfDB) draws to a close, Dr. Akinwumi Adesina has reaffirmed an unwavering commitment to Africa’s economic transformation, pledging to continue mobilizing global capital for the continent beyond his current role.
Adesina, whose tenure as AfDB President ends on September 1, 2025, made this vow in a keynote address titled “Tilting Global Capital for Unlocking Investment Opportunities in Africa” at the Standard Chartered Africa Summit held in Lagos on July 31.
“Together, let us tilt global capital to unlock Africa’s assets. As I step into a new future, you can be sure this will be my focus,” Adesina declared passionately. “For I will always have Africa in my heart and in my sight.”
The summit, themed “Africa to the Globe: Innovation, Resilience, and Growth,” gathered influential leaders from finance, government, and industry, including Aliko Dangote, Nigeria’s Minister of Trade and Investment Dr. Jumoke Oduwole, Harvard Business School lecturer Hakeem Belo-Osagie, and author Chimamanda Ngozi Adichie.
Adesina – dubbed “Africa’s Optimist-in-Chief” – highlighted a decade of bold financial innovation at the African Development Bank, stressing its commitment to doing more with available capital.
Record-breaking achievements under Adesina’s leadership
Under Adesina, AfDB delivered over $102 billion in low-cost financing to Africa since 2015, with its capital base skyrocketing from $93 billion in 2015 to $318 billion by 2024 – the highest in the Bank’s 60-year history.
Key achievements include:
Mobilizing over $225 billion in investment interest through the Africa Investment Forum since 2018.
Leading a $14 billion social bond issuance – the largest among multilateral development banks.
Issuing $10 billion in global benchmark bonds in 2025 alone to finance African projects.
Orchestrating the first-ever synthetic securitization of a $1 billion non-sovereign portfolio.
Executing a $750 million private sector hybrid capital transaction, drawing a record $5.1 billion book order.
Launching the Room to Run Sovereign initiative, unlocking $2 billion in new sovereign lending headroom.
Rolling out 16 partial guarantees valued at nearly $3 billion, mobilizing an additional $5 billion.
Facilitating Africa’s first Panda Bond via a $250 million guarantee for Egypt, unlocking $500 million.
Adesina also spotlighted the Bank’s collaboration with Standard Chartered Bank, which delivered a €533 million partial credit guarantee deal for Côte d’Ivoire in 2023 – awarded ‘Sovereign Syndicated Loan Deal of the Year’ at the 2025 Bonds, Loans & ESG Capital Markets Africa Awards in Cape Town.
Call to global financial institutions
He urged international financial institutions to form deeper partnerships with AfDB and other multilateral banks to unlock capital flows into Africa. He emphasized tools like risk mitigation, ESG best practices, and enhanced local currency financing.
“The African Development Bank is not just waiting for more capital, we are innovating to do more with the capital we have,” Adesina said.
Nigeria: AfDB’s largest active portfolio
Nigeria remains central to AfDB’s strategy, with a $5.1 billion active portfolio spanning 52 operations – evenly split between public and private sectors. Notably, the Bank is establishing a Youth Entrepreneurship Investment Bank in Nigeria as part of a continent-wide strategy to empower young Africans.
In agriculture, Phase 1 of the Bank’s Special Agro-Industrial Processing Zones project is underway in eight states, including FCT, with construction ongoing in Kaduna, Cross River, Oyo, and Ogun. Phase 2, targeting the remaining 28 states, kicks off in September 2025.
A legacy beyond the bank
With less than a month remaining in his second term, Adesina’s message was clear: his mission for Africa’s economic sovereignty is only just beginning.
“As I step into a new future,” he said, “this will be my focus.”
APO
