DR Samuel Maimbo, a front-runner for the high office of President, the African Development Bank (AfDB), is truly prepped up for the post. His every thought exudes a fresh idea of how to make the pan-African bank the catalyst for the continent’s surge away from poverty, given Africa’s acknowledged human and natural resources.
There is a wide consensus that Dr Maimbo is the most technically qualified candidate to be the next President of the AfDB. He is clear-headed where he wants to take the Bank. What sets him apart is not just the support he commands, but his preparedness and passion to walk his talk, the practical realism of his vision for the Bank, and the three decades experience he has earned in development finance at the highest levels at the World Bank, arguably the foremost global development finance institution. His mission, he says, is to lead AfDB into transforming Africa’s future with an emphasis on competence, transparency and speed of execution.
Dr Maimbo believes that Africans are tired of promises and deserve performance, hence his resolve to breathe fresh air into the affairs of the AfDB. He specifically hopes to jettison the age-long regional and non-regional divide at the Bank, opting to treat all stakeholders equally and fairly to get the very best human, organisational, and material inputs/assets into the institution.
This strategy will, of course, require working closer with the private sector to ginger the Bank’s operations and speed up measurable delivery in all its transactions. More poignant, Dr Maimbo says he is more than ready to “roll up his sleeves” to ensure that programmes, as well as projects, remain in focus and targets are met. As a development expert, he knows what should be done and promptly too. Maimbo readily observes that Africa is awash with plans but almost always fall short on delivery. This is why, as President of the AfDB, he hopes to focus squarely on implementation.
With the diplomatic and development experience garnered in over 30 years of work with the world’s largest multilateral development agency, he hopes to partner with the various governments to enhance Africa’s developments. His words: “We need to work with governments to grow our economies in real-time, help our continent navigate today’s development challenges, and invest in the enablers that will accelerate our economies into middle-income status.” The following exclusive interview tells the story much better:
What is the central theme of your campaign?
If elected President of the African Development Bank, I will focus on three core priorities. First, we must accelerate the scale and pace of economic growth across Africa to ensure inclusive development and leapfrog our continent into middle-income status. We currently have 16 countries growing at over 6% of GDP; we need to make sure that number increases to generate jobs for our young people and resolve outstanding debt issues. We will do this by investing in infrastructure, energy access, and priority growth industries, including agriculture.
Second, we must support our governments, who know exactly what they want and need, and ensure they have the financial resources they require to finance the growth and development they aspire for their people. And third, we must dedicate ourselves to ensuring the pillars of the AfDB itself are strong. We will focus on governance, leadership team diversity, efficiency and impact, and staff empowerment. We will lean into our partnerships with governments, other multilateral development banks (MDBs), and the private sector to scale up and leverage the influence and resources of the AfDB.
What feedback are you getting in terms of support for your candidacy from the regional and non-regional stakeholders of the AfDB?
Throughout my campaign, I have reached out to the governors of the AfDB as I have travelled the length and breadth of our continent and beyond. They have expressed their expectations of the institution in terms of ensuring the prioritization process and delivery speed are best in class, and that the AfDB achieves meaningful results for all of Africa every day.
One thing I would like to note is that, as President, I will personally move away from the language of ‘regional’ and ‘non-regional’. We have one board of the AfDB, and I will engage with them as one board. I will work with all Board members individually and collectively to establish a shared sense of purpose to deliver our key priorities. Throughout my 30 years working in resource mobilisation and development, I have been able to effect significant change by ensuring that we can find common ground to make decisions. As President, my responsibility will be to the continent of Africa and our good people, who deserve better than what they have today; to our governments, who are trying to do the right thing; and to the staff at the Bank.
What drives your optimism in winning the race against other worthy candidates?
I have been honoured to receive the endorsements of both the Southern African Development Community (SADC) and the Common Market for Eastern and Southern Africa (COMESA), and the positive feedback and support for my candidacy have continued to grow over time. The campaign has been a journey which gives me hope because we have a generation of leaders across the continent who know what we need to do, whether it is minimising the risk profile so we pay reasonable amounts for our financing or attracting funds to the sectors that will create the jobs we need for our youth, women, and all Africans. Throughout my conversations across the continent, I am strongly encouraged that the vision I have been sharing is one that we can all collectively own, so come election time, this is not just my vision but our vision for the future.
Ultimately, this competition is not about any one candidate. This is a competition against poverty, unemployment, inequalities, inadequate infrastructure, and unsustainable debt. It is incumbent upon all of us to address the economic challenges facing our economies and drive inclusive growth for our continent.
How do you intend to translate your vision for the AfDB into reality if elected the next President of Africa’s premier development finance institution?
My goal is to make the most of the strengths of the AfDB: its voice, its finances, and its people. The Bank is uniquely positioned, given its on-the-ground presence, strong relationships, and its long history, to deliver the change that we need at pace and scale. I will position the Bank to leverage that voice, such as making sure we have a strong Chief Economist Office that is not shy about weighing in on challenging issues. The AfDB is both a bank of finance and knowledge. Both must work hand-in-hand at all times. It’s vital that my leadership team and I speak with, and speak up for, African countries – particularly in the current global economic climate.
Take the financing gap for Africa’s development. The AfDB must lead in this area and work with governments to diversify the range of financial resources available to them, such as through domestic resource mobilisation and getting the private sector into a position to unlock higher revenue streams. The Bank must also increase the financial capacity of the institution itself. There are practical and proven approaches to achieving this. There are plenty of good projects on the ground, but the sizes of many of these are not large enough to deliver a lasting impact and catapult countries into middle-income status. We must invest in scaling up our ambitions.
There is the campaign by some of your rivals that you are the candidate of the Non-Regionals. How do you respond to this?
I am a Zambian national and a proud African. My vision is to serve as a President for all stakeholders of the African Development Bank, fostering collaboration across regional and non-regional shareholders to advance Africa’s development. The Bank requires a leader who can work seamlessly with all partners, ensuring inclusive and effective engagement. This commitment reflects my work ethic and extensive experience in development. A divisive approach is unproductive; unity and cooperation must guide our path forward.
As the First African IDA Director, What Was the Impact on Africa?
As an African in global development, my lived experience—and that of my friends and relatives—has always remained at the forefront of my heart and mind. Throughout my tenure, I worked on critical initiatives such as the IDA 20 replenishment, the World Bank’s COVID-19 response, the Making Finance Work for Africa Initiative, and various operational, analytical, and financial projects at the Bank. Protecting and championing African interests was second nature in all these efforts.
I am particularly committed to supporting young African professionals within the institution, fostering opportunities for growth, leadership, and impactful contributions to development.
What is your take on the 10-year strategy recently launched by President Akinwumi Adesina?
Under my leadership, I will treat this strategy the same way I have treated every other strategy for Africa. I will focus on implementation and delivering results. My team and I will pick up the baton from President Adesina and work through all of the sub-targets in that strategy, delivering outcomes that are bold, realistic, and make a lasting difference across our continent. I will not spend time on targets we will not accomplish, nor on initiatives that lack impact, because the time for incremental change is over. We need to work with governments to grow our economies in real-time, help our continent navigate today’s development challenges, and invest in the enablers that will accelerate our economies into middle-income status. My presidency will be results-driven.
Are there any low-hanging fruits you intend to harvest upon resumption as President?
I am running for President of the African Development Bank because I know first-hand that many of the solutions to our development are hidden in plain sight. One of my priorities is to better engage the private sector and ensure we are listening and responding to their needs, enabling them to generate greater levels of economic growth and contribute to our continent’s development.
Under my Presidency, I will convene a council of private sector leaders and entrepreneurs from across the continent to ensure the Bank is better plugged into their plans and objectives. Secondly, I will ensure the Bank’s systems and procedures are much faster – such as reducing the time it takes for decisions and transactions – the private sector will demand this of us. I will strengthen the Bank’s support for the private sector by bringing the work under a Vice Presidency who can scrutinize each stage of a transaction and expedite delays to get projects completed.
This is one example area, but there are so many opportunities that are ripe for practical and swift solutions. We need to be nimble, pragmatic, and willing to roll up our sleeves and get the job done.
