Meet Sidi Ould Tah, AfDB President Elect Set to Succeed Akinwumi Adesina
Here are some quick facts about the AfDB president-elect:
AfDB’s past heads since its inception in 1964 are:
- Babacar N’Diaye (Senegal), 1985–1995
- Omar Kabbaj (Morocco), 1995–2005
- Donald Kaberuka (Rwanda), 2005–2015
- Dr Akinwumi Adesina (Nigeria), 2015–2025.
Channels reported that the Nigeria Trust Fund, the African Development Bank, and the African Development Fund are the three organisations that make up the AfDB Group. Among its shareholders are 54 African or regional member countries and 27 non-African or non-regional member countries.
Source: UGC
Legit.ng reported that the African Development Bank's (AfDB) 2025 economic outlook sees a possible reduction in export earnings predicted to force a decline in several African currencies this year, including the naira in Nigeria and the cedi in Ghana.
According to the Abidjan-based lender, if financial markets become unstable due to global uncertainties, 21 of the 54 African countries are expected to witness a decline in their currencies in 2025, while 25 may see modest gains.
However, the African-focused lender noted that some nations, such as Kenya, Morocco, and those in the CFA franc zone, may see currency appreciation of more than 3% against the US dollar.
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Source: Legit.ng
