Friday, March 29, 2024

Finance Minister Alexander Chikwanda is Chairperson of the ADB Board of Governors

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Finance Minister Alexander Chikwanda delivering the 2015 budget
Finance Minister Alexander Chikwanda

Finance Minister Alexander Chikwanda has assumed the leadership of the ADB Board of Governors as its Chairperson for the period 2015/2016. In addition, Zambia has been confirmed as the host of the 2016 Annual Meeting of the ADB to be held in Lusaka in May, 2016.

Mr. Chikwanda assumed the position at the Bank Group’s 50th Annual Meeting in Abidjan, Côte d’Ivoire.

At the same meeting, Zambia was confirmed as the host of the 2016 Annual Meeting of the ADB to be held in Lusaka in May, 2016.

And Nigerian Development Economist and serving Minister of Agriculture and Rural Development, Akinwumi Adesina has been elected as the 8th President of the ADB.

Meanwhile Mr. Chikwanda says Zambia has tremendous experience in hosting international meetings and that ZAMBIA will work hard to ensure that the 2016 Annual Meeting of the ADB is a resounding success.

This is according to a statement issued to media news by Ministry of Finance Public Relations Officer CHILESHE KANDETA.

Below is the full statement

NIGERIAN DEVELOPMENT ECONOMIST ELECTED AS NEXT ADB PRESIDENT AS CHIKWANDA TAKES OVER AS CHAIRPERSON OF THE ADB BOARD OF GOVERNORS

Friday, 29th May, 2015. Nigerian Development Economist and serving Minister of Agriculture and Rural Development, Akinwumi Adesina has been elected as the 8th President of the African Development Bank by the Bank’s Board of Governors; currently meeting to commemorate the Bank Group’s 50th Annual Meeting in Abidjan, Côte d’Ivoire.

Speaking after the election of the new ADB President, Finance Minister Alexander Chikwanda described Dr. Adesina as a worthy successor to Dr. Kaberuka, as “he is visionary with a remarkable track record of performance.”

Mr. Chikwanda disclosed that after the SADC preffered candidate Thomas Sakala, a Zimbabwean national, could not go past the 5th round of voting, the SADC regional block threw its voting weight on Dr. Adesina, the Nigerian candidate.

“Dr. Adesina has transformed agriculture in Nigeria and he strikes one as a man of vision, determination and total dedication to duty,” said Mr. Chikwanda, adding that, “he had the best credentials professionally and academically and he is somebody who seems to embody a veritable vision for Africa.”

Meanwhile Mr. Chikwanda has assumed the leadership of the ADB Board of Governors as its Chairperson for the period 2015/2016. In addition, Zambia has been confirmed as the host of the 2016 Annual Meeting of the ADB to be held in Lusaka in May, 2016.

“Zambia has tremendous experience in hosting international meetings and we do hope our nationals will work hard to ensure that the 2016 Annual Meeting of the ADB is a resounding success,” said the Minister.

He said, “it is a challenge for the organizer’s to make sure that people in the hospitality industry in Zambia begin to jack-up things and begin to get ready for a large influx of people so that we maintain the confidence that Africa and the World has shown in according Zambia the status of a preferred destination for safe and sustainable investment.”

The Abidjan meeting has been attended by more than 4, 500 people while more than 3, 500 are expected to jet into Lusaka for the 2016 edition. This is the second time that Zambia will host the ADB Annual Meeting, the first being in 1973.

Dr. Adesina, 55, succeeds Dr. Donald Kaberuka, whose second term as President of the Bank ends on 31st August, 2015.

Paying tribute to his distinguished predecessor, Dr. Adesina said in a press conference Thursday evening, “I salute the excellent work of President Kaberuka. It will be a big challenge for me to step into his shoes as he leaves a solid Bank behind him.”

“My vision is to help build a new Africa with prosperous, sustainable and inclusive growth; one that is peaceful, secure and united; one that is regionally integrated and globally competitive,” said Dr. Adesina upon his election, adding, “One that is filled with hope, opportunities, liberties and freedom; one that is open to the world and one that Africans are proud to call home.”

Dr. Adesina will assume office on 1 September 2015. The election process was concluded by voting among the Bank’s Board of Governors (54 regional member countries, 26 non-regional members), whose voting powers are weighted.

Mr. Chikwanda is in Abidjan, Ivory Coast for the Annual Meeting and the 50th Anniversary Commemoration of the ADB. He returns to Zambia on Saturday. In his delegation are Secretary to the Treasury Fredson Yamba, Bank of Zambia Governor Dr. Denny Kalyalya, and other Senior Treasury and Bank of Zambia Officials.

//SIGNED//

Chileshe Kandeta
Public Relations Officer
Ministry of Finance

Notes to editors

A total of eight candidatures whose nomination papers were received by the closing date of 30th January 2015, were approved by the Steering Committee of the Board of Governors. The other candidates who participated in the election were;

1) Sufian Ahmed (Ethiopia)

2) Jaloul Ayed (Tunisia)

3) Kordjé Bedoumra (Chad)

4) Cristina Duarte (Cabo Verde)

5) Samura M W Kamara (Sierra Leone)

6) Thomas Sakala (Zimbabwe)

7) Birama Boubacar Sidibé (Mali)

Dr. Akinwumi A. Adesina succeeds:

1) Mamoun Beheiry (Sudan), President, African Development Bank, 1964-1970;

2) Abdelwahab Labidi (Tunisia), President, African Development Bank, 1970-1976;

3) Kwame Donkor Fordwor (Ghana), African Development Bank, 1976-1980;

4) Willa Mung’omba (Zambia), President, African Development Bank, 1980-1985;

5) Babacar N’diaye (Senegal), President, African Development Bank, 1985-1995;

6) Omar Kabbaj (Morocco), President, African Development Bank, 1995-2005; and,

7) Donald Kaberuka (Rwanda), President, African Development Bank, 2005-present.

7 COMMENTS

  1. It’s Good for Zambia and we only hope the book for AFDB in subscriptions for member countries and partners matches the likes of ECB AIB and other regional blocks The African Development Bank has become a key institution in the drive towards greater African economic development inside the Africa Union

    We only hope access to financing for Zambia will up given the African investments outlook now and future

    Its a plus for Zambia and should meanfully translate

  2. Congratulations to Hon. Chikwanda and Dr. Adesina on the deserved election to ADB have confidence the two will provide leadership to ensure access to qualify financial services for all

  3. The Finance Minister is also working for one of the Bretton Woods institutions?

    No wonder why the mines don’t get taxed. No wonder why the Finance Minister doesn’t inquire about the non-payment of dividends at ZCCM-IH.

    Why not just elect a De Beers director as head of state and get it over and done with?

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