About
Jacques Emmanuel Attoumbre is an Analyst at Concerto, based in Paris. He focuses on digital communications and supports research and strategic analysis on political and economic developments across Africa.
QUICK INSIGHTS
- The incoming president secured an overwhelming majority during voting, underscoring his broad-based appeal among regional and non-regional members, providing early momentum for the implementation of his agenda.
- Amid a reduction in budget support from donor countries, Tah intends to mobilise funding from continental institutions and the Gulf.
- While the High 5 priorities formulated by the previous leadership will still inform decision-making, Tah’s agenda will revolve around shifting the bank from an aid provider to an investment catalyst.
A bid bolstered by widespread support and backing from the Arab world
While he was the last to declare his candidacy, his bid was supported by a coalition of African and Arab countries, notably Saudi Arabia, which lobbied Arab League members. Three key dynamics played in his favour. Firstly, the bank’s African shareholders did not vote along regional lines, breaking with past elections. Secondly, his unique positioning, fluency in three of the five African Union languages and broad-based appeal were key. Lastly, his strong track record at the BADEA—where he more than tripled the institution’s capital over his presidency and secured the second-best credit rating, a notch below the coveted AAA rating—also played in his favour.
This leadership transition occurs at a critical juncture for development finance, as donors reduce their bilateral and multilateral allocations amid growing needs. The African Development Bank is not immune to these dynamics. While the Africa Development Fund—its concessional arm focused on low-income countries—mobilised USD 2.4 billion for its 2023-2025 cycle, this is set to drop to USD 1.5 billion for the 2026-2028 cycle, representing a 37.5% decrease. The fund’s top-five donors have all announced significant reductions in their contributions, reflecting new policy priorities and challenging domestic economic outlooks and fiscal consolidation efforts, particularly in Europe. Against this backdrop, Tah will have to contend with fewer resources and a shifting geopolitical landscape.
A strong track record in development finance
His decade as president of the BADEA will place him in good standing to mobilise more capital from the Arab world, where he has strong ties. Top priorities include mobilising the estimated USD 2 trillion held by African pension funds for long-term infrastructure projects, as well as establishing greater synergies with key institutions such as Afreximbank and the Africa Finance Corporation. This agenda aims to reduce the bank’s reliance on external financing and vulnerability to external (geopolitical) shocks, while building the institution’s resilience.
Despite Tah’s goal of shifting the bank from an aid provider to an investment catalyst and multiplying the impact of every dollar invested represents a new ambition, his agenda is expected to mark a degree of continuity with his predecessor’s “High 5s” priorities, which form the backbone of the bank’s 2024-2033 strategy. Launched in 2015, Outgoing President Adesina’s mandate focused heavily on power, agriculture, industrialisation, regional integration and improving the quality of life for the continent’s 1.5 billion population.
Tah’s approach will differ from his predecessor’s and focus on capital mobilisation, reform of Africa’s financial architecture, leveraging the demographic dividend, and industrialisation based on natural resources. He is expected to reorient the bank’s 10-year strategic blueprint to reflect this vision.
The African Development Bank’s leadership transition could mark a turning point for the continent. Tah’s ambitious agenda will require major structural reforms, strong political will and agile execution. While there is clear momentum behind him—he was elected with over three-quarters of the vote in the third round—translating this into tangible change represents a tall order. It’s too early to tell whether he can replicate the wins of his tenure at the helm of the BADEA. The litmus test of his mandate will likely be how successfully he can secure billions of dollars from the Gulf to support Africa’s development.
