By Staff Reporter
AFRICA and the world should appropriately support Zimbabwe to clear its arrears as has been done for other nations, outgoing African Development Bank (AfDB) Group president Dr Akinwumi Adesina has said.
He promised to continue working with Zimbabwe, mainly on the arrears clearance and debt resolution process.
Elections for his successor were held on Thursday, with Mauritanian “super banker”, Dr Sidi Ould Tah, romping to a commanding victory after garnering 76,18 percent of the vote.
He beat four contenders: Dr Samuel Munzele Maimbo of Zambia (20,26 percent) and Mr Amadou Hott of Senegal (3,55 percent).
The other two candidates were Ms Bajabulile Swazi Tshabalala of South Africa and Mr Tolli Abbas Mahamat of Chad.
Dr Adesina will remain in office until August 31, with president-elect Dr Ould Tah assuming office from September 1.
As he concluded his remarks at a side event on Zimbabwe’s arrears clearance and debt resolution process on Monday, Dr Adesina implored stakeholders to “make sure that we appropriately support Zimbabwe to clear the arrears”.
“We have done it for Somalia, we have done it for Sudan; we need US$2,6 billion of bridge finance. Let’s get that done and support these folks who have worked so hard to come this far,” he said.
“You have heard testimonies (from former farmers, Ambassadors from Europe), so let’s get this done. And we are in the process of the ADF (African Development Fund) 17th replenishment; I would like to urge all of our donors on ADF, the ADF pillar 2 which is what we use for arrears clearance, please help us make sure we have that (money) so that we can support these great guys to do the work.
“We have already supported them to have the sovereign finance institution advisory to help on the arrears clearance roadmap to help them with the legal issues. The work should continue going on and finally, I may be ending my time as Africa Development Bank president, but I am not ending my support for Zimbabwe.”
Dr Adesina added that the new AfDB leader “will take the button”.
“It has been a great pleasure working with the Minister (of Finance Professor Mthuli Ncube) and everyone involved including President Mnangagwa,” he said.
In an interview yesterday to mark the end of the annual meetings, Prof Ncube said he was optimistic they will work well with Dr Ould Tah, adding that he previously did so during his time as president of the Arab Bank for Economic Development in Africa (BADEA).
At the formal opening ceremony of the 2025 AfDB annual meetings on Tuesday, Dr Adesina said he had never treated the post of AfDB president as a job, but “a mission” to uplift the continent, reiterating his efforts for Zimbabwe’s benefit.
He chronicled his successes in the last 10 years, including the work he is doing with former Mozambique President Joachim Chissano on the clearance of arrears and debt resolution.
“We are also standing with Zimbabwe to clear its arrears to the Bank and other creditors,” he said.
“As champion of the debt arrears process, working with former President (of Mozambique Joachim) Chissano, we have supported Zimbabwe to make significant progress.
“I am pleased that the IMF Staff Monitored Programme will be concluded this month. Yesterday (Monday at the side event) was an emotive day where we saw the remarkable efforts we are putting in addressing Zimbabwe’s arrears and debt,” he said.
Touched by a touching presentation by a former farmer, Ms Lisa Nislev, who spoke at the side event about how other farmers are happy to be receiving compensation after 23 years for the developments made on the farms they used to till, Dr Adesina left his seat and embraced her.
Turning to his last 10 years as AfDB president, Dr Adesina said he was honoured to be “given the responsibility, resources, mandate, support and the platform to help transform Africa, the continent of my birth”.
“In the past decade, the work of the African Development Bank has impacted the lives of 565 million people,” he said.
This includes 28 million people with access to electricity, 104 million people with food security, 121 million people with access to improved transport, 128 million people with access to improved health services, 67 million with improved access to information and communication technology, 63 million people with access to drinking water and 34 million people with access to sanitation.
The Bank accelerated regional integration with massive support for infrastructure to support the African Continental Free Trade Area.
The opening ceremony was graced by Côte d’Ivoire President Alassane Ouattara, President of the Union of Comoros Azali Assoumani, Ghana President John Mahama, Vice President of Tanzania Dr Philip Isdor Mpango who was representing President Samia Suluhu Hassan, Vice President of Botswana Ndaba Nkosinathi Gaolathe, Niger Prime Minister Ali Mahaman Lamine, former Mozambique President Chissano, and other senior officials.
