Sidi Ould Tah Sets Out Stall For Leadership Of Afdb

Sidi Ould Tah has been a player in the top tier of African finance for some time now. For a decade, until April, he led the 20bn Arab Bank for Development in Africa BADEA, having previously served as minister of economy and finance as well as minister of economic affairs and development in his native Mauritania. Now, as Akinwumi Adesina's second and final tenure comes to an end, Tah has joined the list of contestants for the presidency of the African Development Bank AfDB as it chooses a successor on 29 May.

For Tah, the role offers a unique opportunity to shape the future of the continent through the transformational power of the Bank. "It's about improving lives and livelihoods, and making dreams a reality," he tells African Business .

The AfDB, with a capital base of over 200bn and Triple A rating, is capable of rallying global partners behind Africa's development agenda, Tah observes. To him, this is not only a responsibility but a powerful incentive - particularly when it comes to empowering Africa's youth through job creation. "The potential is there, and for those of us who want to help transform the continent, the Bank is an incredibly powerful platform with which to do so," he says.

As he contemplates the issues that could potentially be in his in-tray, Tah's assessment is that the liquidity crunch, rising debt levels and the need for large scale financing require the most urgent attention. "This is an equation that needs solving. On one hand, countries are grappling with high debt and limited liquidity, especially during times of crisis. On the other, development needs are massive and growing." Tah believes the AfDB is uniquely positioned to help solve that equation, if only it can step more boldly into its leadership role.

The Bank, he says, needs to scale up its operations, streamline its interventions, and promote reforms across Africa's fragmented financial architecture. "If you compare Africa's institutional ecosystem to other regions, you see a lack of synergy between major players," he says in reference to the African Finance Corporation, African Export-Import Bank Afreximbank and the host of other regional development financial institutions with a similar mission to AfDB's. "There's a real opportunity for the AfDB to provide the leadership that brings these institutions together under a shared vision."