BREAKING: Akinwunmi Adesina Re-Elected as AfDB President

Adesina has just been re-elected as the President of African Development Bank (AfDB) to serve a second five-year term.

Adesina was first elected to the position on May 28, 2015 by the Bank’s Board of Governors at its Annual Meetings in Abidjan, Côte d’Ivoire.

The 60-year-old is a development economist and agricultural development expert with 27 years of international experience. He is alao the first Nigerian to serve as President of the Bank Group.

Adesina had no one to challenge his re-election for another 5years tenure, although he recently survived an inquiry, following pressures from the United States government.

Within three years of his first term, Adesina embarked on bold reforms of the bank. On his watch, the bank has been substantially repositioned globally, and he has driven highly impactful programs that are accelerating the development of the continent.

Since his election as president, the bank has maintained its AAA rating by all the four major global rating agencies, four years in a row. This is a reflection of the bank’s sound financial and risk management, excellent liquidity and strong shareholder support.

Recall, it was reported that the re-election of the President of African Development Bank (AfDB), Akinwumi Adesina draws closer, Nigeria has increased its shares in ownership of the Bank.

Adesina served as Nigeria’s Minister of Agriculture and Rural Development from 2011 to 2015.