Tah to tackle new challenges

MAURITANIA’S former economy minister, Sidi Ould Tah, was on Thursday elected to succeed Nigeria’s Akinwumi Adesina as president of the African Development Bank (AfDB) and tackle the withdrawal of US financing from the institution.

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In 2015 Adesina took six rounds of voting to become Africa’s “super banker”, but Tah, 60, secured the prestigious post in only three, winning 76% of votes.

Zambian economist Samuel Munzele Maimbo trailed well behind in second on 20%, with Senegal’s Amadou Hott third on less than 4%.

The winner had to secure both a majority of votes from all 81 member countries and a majority of votes from the 54 African nations that are part of the AfDB.

Tah, who headed the Arab Bank for Economic Development in Africa (BADEA) for 10 years, - which he claimed to have transformed from an institution “unknown to rating agencies” to one of the highest-rated development organisations in Africa — secured 72% of African votes.

He thanked “Africa for the trust” placed in him, adding: “I am fully aware of the responsibility and duty that come with it.”

Runner-up Maimbo — earlier extended his congratulations and said the bank’s governors had “chosen the leader they believe will best deliver the vision of the Africa we want at this pivotal moment”.