President Paul Kagame on Wednesday, June 25, received Akinwumi Adesina, the outgoing President of the African Development Bank Group, who is in Rwanda for the 28th Annual Conference on Global Economic Analysis, at Urugwiro Village. According to the Office of the President, their discussion focused on the fruitful partnership between Rwanda and the African Development Bank, and the successful collaboration across key economic sectors under Dr. Adesina’s leadership. The African Development Bank has, among others, partnered with the Rwandan government to transform the agriculture sector through projects that have modernised farming and improved food security in the country. ALSO READ: Rwanda seeks $2.9bn annually to fund development agenda – AfDB Rwanda recorded a robust economic growth rate of 8.9 per cent in 2024 yet still faces an annual financing gap of $2.9 billion to implement its national development goals, according to a new African Development Bank (AfDB) report. Last month, as his decade-long leadership of the African Development Bank (AfDB) neared its end, Adesina called on his yet-to-be-elected successor to embrace the responsibility of defending Africa’s interests on the global stage with boldness and integrity. He was speaking at a media briefing at the start of the AfDB Group’s 2025 Annual Meetings, on May 26, in Abidjan, Côte d’Ivoire. ALSO READ: 60 years of impact: AfDB's role in building skills for a healthier future in Rwanda Adesina, who was first elected President of the AfDB on May 28, 2015, and re-elected in 2020, reflected on what he described as a mission-driven decade of transformation. Under his leadership, the Bank’s capital increased from $93 billion in 2015 to $318 billion in 2024, an achievement he described as “unprecedented.” He also led efforts to raise $8.9 billion for the 16th replenishment of the African Development Fund. According to Adesina, the Bank’s High 5s strategy, aimed at lighting up and powering Africa, feeding Africa, industrialising Africa, integrating Africa, and improving the quality of life for its people, has transformed the lives of over 565 million people across the continent. ALSO READ: Five things to know as govts race to power 300m Africans Adesina urged his successor to recognise the immense responsibility that comes with the role. “This is not a job. This is a mission. This is a position that demands courage to confront ideas and philosophies that may not promote Africa’s interests, he said, adding that more often than not Africa finds itself in the middle of global challenges that require bold leadership.
