Lagos: Dr Akinwumi Adesina has reaffirmed his dedication to Africa's development as his tenure as President of the African Development Bank (AfDB) nears its end on September 1, 2025. Adesina emphasized his ongoing commitment to mobilizing global capital for the continent’s growth during his keynote address at the Standard Chartered Africa Summit in Lagos.
According to African Press Organization, Adesina, during his speech titled "Tilting Global Capital for Unlocking Investment Opportunities in Africa," expressed his resolve to continue focusing on Africa's development. He stated, "Together, let us tilt global capital to unlock Africa's assets. As I step into a new future, you can be sure this will be my focus! For I will always have Africa in my heart and in my sight."
The summit, themed "Africa to the Globe: Innovation, Resilience, and Growth," brought together key corporate leaders, policymakers, and investors, including Sunil Kaushal and Roberto Hoornweg from Standard Chartered, Nigeria's Minister of Trade and Investment Dr. Jumoke Oduwole, and prominent figures like Aliko Dangote and Chimamanda Adichie.
Under Adesina's leadership, the AfDB has significantly increased its financing efforts, raising capital from $93 billion in 2015 to a projected $318 billion by 2024, marking the highest in the Bank's sixty-year history. The Bank has also mobilized over $225 billion in investment interest since 2018 through the Africa Investment Forum, targeting sectors such as infrastructure, energy, and agribusiness.
The AfDB has achieved notable milestones, including the largest social bond issuance by multilateral development banks at $14 billion and the first-ever synthetic securitization of a non-sovereign portfolio valued at $1 billion. Additionally, the Bank conducted its first private sector hybrid capital transaction, attracting over 275 investors with a $5.1 billion book order.
Adesina praised Standard Chartered Bank for its partnership, notably the partial credit guarantee for Côte d'Ivoire in 2023, which received the Sovereign Syndicated Loan Deal of the Year award in 2025. This collaboration unlocked £533 million from Standard Chartered Bank to support Côte d'Ivoire’s financing needs.
Adesina urged global financial institutions to enhance partnerships with the AfDB to increase capital flows to Africa. He advocated for greater use of risk mitigation, credit enhancement instruments, and collaboration to scale up local currency financing solutions.
The AfDB's active portfolio in Nigeria, valued at $5.1 billion, is the largest within the Bank, comprising 52 operations equally distributed between public and private sectors. The Bank plans to establish a Youth Entrepreneurship Investment Bank in Nigeria and is rolling out its Special Agro-Industrial Processing Zones across multiple states to boost economic opportunities.