Mauritanian economist assumes presidency of African Development Bank

Alsharq Tribune -AFP

Mauritanian economist Sidi Ould Tah was sworn in as president of the African Development Bank (AfDB) at the institution's headquarters in Abidjan, Cote d'Ivoire on Monday.

The ceremony was attended by Ivorian President Alassane Ouattara, Mauritanian President Mohamed Ould Cheikh Ghazouani, and members of the AfDB Group's Board of Governors.

Ould Tah delivered the oath of office with solemnity. After taking the oath, he signed the written version, which was officially certified by Ludovic Ngatse, minister of economy, planning, and regional integration of the Republic of the Congo, also chair of the Board of Governors of the AfDB.

Ould Tah was elected the ninth president of the bank on May 29, securing more than 76 percent of the vote, the highest first-term margin in the bank's history.

Elected for a five-year term, the new AfDB president outlined four strategic pillars -- to unlock Africa's financial resources, to reform and strengthen the continent's fiscal sovereignty, to turn demography into a dividend, and to build resilient infrastructure.

Ould Tah, 60, is introduced on the AfDB website as a seasoned economist and development banker with more than 40 years of experience in banking, as well as economist and ministerial roles in Africa and the Global South.

Founded in 1964, the AfDB has 81 member countries, comprising 54 African countries and 27 non-African countries.