As he steps down after a decade at the helm of the African Development Bank, Akinwumi Adesina leaves behind a transformed institution.
Known for his broad smile and trademark bow tie, Adesina has long embraced his nickname of Africa’s “optimist in chief.”
At AfDB, Adesina expanded both the bank’s resources and its profile on the global stage. The capital tripled from $93 billion when he took office to $318 billion today. Under his leadership, AfDB pioneered new approaches to development finance — becoming the first multilateral development bank to issue hybrid capital, a type of financing that combines features of debt and equity and helps expand lending capacity; raising $750 million in 2024; and championing the rechanneling of International Monetary Fund Special Drawing Rights to strengthen multilateral lending.
About the author
Ayenat Mersie
Ayenat Mersie is a Global Development Reporter for Devex. Previously, she worked as a freelance journalist for publications such as National Geographic and Foreign Policy and as an East Africa correspondent for Reuters.
