…Chapo commends leadership at Africa50 meeting
Mozambique’s President Daniel Chapo has praised Akinwumi Adesina for a decade of leadership at the African Development Bank Group, crediting his role in shaping the Bank and improving lives across the continent.
Speaking at the opening of the Africa50 General Shareholders Meeting in Maputo on Wednesday, President Chapo thanked Adesina for his contributions both at the Bank and as Chair of Africa50, an investment platform created by African governments and the Bank to close the infrastructure funding gap.
“Your legacy is not just institutional but impacting the lives of Africans, and we thank you and wish you the most success for what the future has in store for you,” President Chapo said.
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Africa50 highlights
Africa50 Chief Executive Officer Alain Ebobissé also acknowledged Adesina’s contribution to the institution. He noted the impact of the Alliance for Green Infrastructure in Africa (AGIA), an initiative Adesina launched with partners to mobilise investment and unlock up to $10 billion in green infrastructure opportunities for the private sector.
A fireside chat moderated by Nozipho Mbanjwa-Tshabalala, CEO of the Conversation Strategists, reflected on Adesina’s record, including institutional reforms and the role of the Bank in strengthening confidence in Africa’s development prospects.
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Infrastructure, growth and focus on youth
In his remarks, Adesina underlined the importance of power generation as the basis for economic expansion.
“Economies that don’t have power can never grow. It’s a direct correlation with your GDP growth and access to electricity. You can’t create jobs, you can’t industrialise, and sadly, you are not going to industrialise and be competitive in the dark,” he said.
He challenged views that Africa presents high risks for investment, pointing to Moody’s data showing cumulative losses on infrastructure investments in Africa of just 1.9 percent over 15 years, lower than other regions.
“Africa is not as risky as it is perceived — You can invest in Africa, get great returns in Africa, and have great institutions like us that will always be there beside you, making sure your capital not only comes, your capital stays, your capital grows, and you can take your capital back,” he added.
Adesina also emphasised the need to focus on Africa’s young population of 420 million people.
“Everything we do needs to be focused on African youth — If you don’t create youth-based wealth, who is going to pay the taxes in the future?” he asked.
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A decade of growth at AfDB
During Adesina’s tenure, the Bank’s capital rose from $93 billion in 2015 to $318 billion in 2024. This growth supported its “High 5s” strategy, which impacted 565 million people through initiatives in energy, food, industry, integration, and quality of life.
The Bank was named the best multilateral financing institution in the world for two consecutive years and maintained its AAA rating, including during the COVID-19 pandemic.
Africa50 expansion
Adesina also oversaw the growth of Africa50 into a leading infrastructure platform. The institution now manages $1.4 billion in assets with a portfolio valued at more than $8 billion. It has 33 active projects in 32 countries across energy, transport, digital infrastructure, healthcare, and education. In addition, it raised $275 million for the Africa Infrastructure Acceleration Fund from over 20 African institutional investors.
In conclusion, Adesina will step down as President of the African Development Bank on 1 September 2025. Reflecting on his decade in office, he said:
“My legacy is not a personal one. My legacy is an Africa strong enough to deliver finance for its transformation at scale — we have come of age, and we can handle issues by ourselves and deliver.”
