Charles Muchoki | Africa Guardian
The African Development Bank (AfDB) (www.AfDB.org) proudly celebrates 60 years of advancing economic and social transformation across Africa. The Southern Africa regional celebration, held in Johannesburg, gathered leaders, stakeholders, and partners to honor the institution’s milestones and reaffirm its commitment to a prosperous future for the continent.
In her keynote address, Ms. Leila Farah Mokaddem, Director General of the African Development Bank Group, reflected on the Bank’s remarkable legacy:
“Sixty years ago, the African Development Bank was born out of a vision for a better Africa. Today, we celebrate not just milestones but the lives transformed and communities uplifted through our work.”
Transformative Achievements in Southern Africa
The Bank’s commitment to sustainable development is evident through its active portfolio of 226 projects, valued at USD 11 billion. Key achievements in the Southern Africa region include:
- SADC Sub-Regional Transport and Facilitation Project: A USD 231.3 million investment linking Malawi and Mozambique, enhancing trade and reducing regional fragility.
- Lesotho Highlands Water Project: A USD 2.1 billion initiative boosting water transfer and hydroelectric power for energy security.
- Kazungula Bridge Project: A USD 81.6 million project improving connectivity between Zambia and Botswana along the North-South Corridor.
- Support for Transnet: A USD 1 billion sovereign-guaranteed loan to drive the recovery and growth of South Africa’s freight transport system.
Highlighting the Bank’s long-standing collaboration with South Africa, Honourable Minister Enoch Godongwana remarked:
“The Government of the Republic of South Africa celebrates this milestone with the African Development Bank. Our partnership has been instrumental in pursuing a shared vision of a better Africa for future generations. This anniversary energises our efforts and deepens our commitment to advancing Africa’s development agenda.”
Shaping the Future: Integrated Growth and Climate Resilience
As the Bank charts its path forward with a new Ten-Year Strategy, it is prioritising integrated regional projects and climate resilience. Projects like the Lobito Rail Integrated Corridor, connecting Angola, the Democratic Republic of Congo, and Zambia, are poised to stimulate economic growth, strengthen agriculture value chains, and expand renewable energy investments.
“Our journey is far from over,” said Ms. Mokaddem. “We call on governments, private sector partners, and international institutions to join us in building a more inclusive and sustainable Africa. Together, we can address climate challenges and mobilise resources to leave no one behind.”
A Legacy of Leadership and Transformation
Under the leadership of President Dr. Akinwumi A. Adesina, the AfDB continues to uphold its AAA credit rating and maintain an authorised capital of USD 318 billion. With nearly 2,000 staff serving all 54 African nations, the Bank remains committed to its “High 5s” priorities:
- Lighting up and powering Africa.
- Feeding Africa.
- Industrialising Africa.
- Integrating Africa.
- Improving the quality of life for the people of Africa.
The 60th anniversary celebrates not only the Bank’s resilience but also the unwavering support of its partners. As the AfDB looks to the future, it remains steadfast in its mission to transform lives and catalyse growth across the continent.
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