Sidi Ould Tah will lead African Development Bank

Sidi Ould Tah, former Mauritanian Economy Minister, was elected as the new President of the African Development Bank on Thursday. He secured the position with strong support from African nations, France, and Spain. Tah, who previously led the Arab Bank for Economic Development in Africa, will succeed Akinwumi Adesina on September 1st. The election involved a competitive process, with Tah ultimately prevailing over other candidates, including one from Zambia. Tah's election marks a shift, as he was not the candidate supported by the United States. He plans to focus on economic formalization and infrastructure development during his five-year term.