Africa: Bright Future Beckons in Next 60 Years for Africa Says the African Development Bank

The African Development Bank marked its 60th anniversary celebrations in Abidjan with a party atmosphere, amidst two distinct parts to the celebrations: on the one hand, an assessment of “60 years of making a difference” and, on the other, an ambitious look into the future where a prosperous, inclusive, resilient and integrated continent can be shaped.

Côte d’Ivoire, home to the Bank’s headquarters, played a visible role in the festivities, which took place from 9-10 September at the Hotel Ivoire in Abidjan.

A major photo exhibition retracing the history of the Bank attracted many visitors, who had the opportunity to measure the progress made since 1964 – under the leadership of its various presidents – to become the respected institution it is today: the premier multilateral development finance institution in Africa. It is assigned an ‘AAA’ rating by the major credit ratings agencies alongside other accolades obtained through a rigorous approach founded on the needs of the continent. Hard work and sacrifice have overcome countless challenges and obstacles.

Ivorian President Alassane Ouattara, the guest of honour, was keen to attend the Bank’s diamond jubilee celebrations. He emphasised the institution’s “unwavering support in times of crisis” for African countries. “This is an historic milestone and a great cause for celebration, but it is also an opportunity to see that the African Development Bank has financed some pivotal infrastructure and helped improve the living conditions of millions of Africans,” he said. “The Bank is a real source of pride and hope for Africa.”

Dr Akinwumi Adesina, head of the African Development Bank Group, returned the compliment in heartfelt fashion, thanking President Ouattara for his “extraordinary support”. He also expressed his gratitude to the Bank’s staff. “Irrespective of your job title or rank, you are very important to the African Development Bank, and you are important to Africa,” he explained.

Adesina, often described as “Africa’s optimist-in-chief”, pointed out that since 1964, the Bank has “supported more than 6,575 projects on the continent; in the last 10 years alone, we have invested $77 billion in 3,000 projects, making us Africa’s most dependable development partner.” He added: “In the last eight years alone, the Bank Group’s operations have had a direct impact on the lives of 400 million people in Africa.”

Nialé Kaba, Ivoirian Minister of Planning, Economy and Development and the Bank’s governor for Côte d’Ivoire, subsequently expressed the Ivorian government’s deep gratitude to President Adesina for his “leadership and the significant results achieved” at the head of the respected institution.

The Bank’s anniversary also provided a platform for collective reflection on current issues relating to young people and the private sector. The Bank’s country offices took part in discussion panels virtually, reporting on relevant achievements at national level.

An intergenerational dialogue on inclusive growth and sustainable development in Africa took place to pinpoint evidence-based solutions for young people and build resilient and sustainable growth in Africa.

The 60th anniversary event was attended by senior Ivorian government officials, members of the diplomatic corps and representatives of international organisations, in addition to the Bank’s management, Group Boards of Directors and staff.

Mamadou Touré, Ivorian Minister for the Promotion of Youth, Youth Employment and Civic Service, called on African youth organisations to take the initiative and be more demanding of their governments so as to play their part in the continent’s development.

The celebrations culminated in a high-calibre cultural performance, awash with colour and soothing African music. The Bank’s Staff Council and its Chairman, Foster Ofosu, ensured the smooth running of proceedings.

This should set the tempo for the next 60 years for the African Development Bank Group, which intends to continue hitting all the high notes, and pursue its mission of transforming Africa.