You need friends;Zim to support Zambia’s candidate in the AfDB race
You need friends;Zim to support Zambia’s candidate in the AfDB race
President of the Bank, Dr. Akinwumi A. Adesina, a national of Nigeria, was elected on 28 May 2015, and commenced his first term on 1 September 2015. Following his re-election on 27 August 2020, Dr. Adesina commenced his last 5-year term on 1 September 2020.
● Zambia is floating Dr. Samuel Munzele Maimbo as a candidate to replace Dr. Adesina.
Samuel Munzele Maimbo is the Vice President, Budget, Performance Review & Strategic Planning (BPS) at the World Bank Group.Samuel Munzele Maimbo is Vice President for Budget, Performance Review, and Strategic Planning since July 1, 2023.
In this role, Mr. Maimbo oversees the World Bank’s annual Program Budget and All Funds ̶ including the administrative budget for Bank Budget (BB) funds, Trust Funds, and Reimbursable Funds, ensuring resources are aligned with the institution’s strategic priorities, financial sustainability objectives, efficiency targets and business needs.
He also serves as the top advisor to the World Bank’s senior management team on resource management allocation, leads the financial planning and performance review process for the institution’s multi-year Strategy and Business Outlook, and ensuA Zambian national, Mr. Maimbo has nearly thirty years of experience in development, financial markets, resource mobilization and strategic planning.
Prior to his current position, he served as the Chief of Staff to World Bank Presidents. He also served as the Director of the International Development Association (IDA) Resource Mobilization and International Bank for Reconstruction and Development (IBRD) Corporate Finance department for just over two years, where he was responsible for the implementation of IDA’s hybrid financial model and the policy analysis of IBRD income and corporate finance. In this role, he oversaw the successful IDA20 replenishment one year early, with a record amount of $93 billion.
● Election of the next President of the African Development Bank Group
The President is elected by the Board of Governors of the African Development Bank. The composition of the Board of Governors is made up of representatives of the eighty-one (81) member states, who are usually ministers of finance, planning or central bank governors or their duly designated alternates.
The election of the President is held during the Annual Meeting of the Bank closest to the end of the term of office of the serving President. The current President assumed office on 1 September 2020, following his re-election for a second term on 27 August 2020. Accordingly, his term of office will elapse on 31 August 2025.
The elections for a new President will therefore take place during the 2025 Annual Meeting, specifically on 29 May 2025 in Abidjan, Côte d’Ivoire.
● What is the African Development Bank Group?
The African Development Bank (AfDB) is a multilateral institution whose objective is to contribute to the sustainable economic development and social progress of the African countries that make up the AfDB’s Regional Member Countries (RMCs).
It is a multilateral development finance institution, headquartered in Abidjan, Ivory Coast since September 2014.