Nigeria’s minister of Agriculture and Rural Development Akinwumi A. Adesina has been elected as the new president of the African Development Bank (AfDB).
[contextly_sidebar id=”Q4zlaqe7J78n5dP45Dw31QcTKks6xBFZ”]He becomes the eighth person elected as AfDB president.
Akinwumi A. Adesina secured the position after beating two other candidates, Chadian Finance Minister Kordje Bedoumra and Cape Verde’s finance minister Cristina Duarte.
The three were shortlisted from a list of eight candidates .
Adesina secured 58 percent of the votes in the final round at a meeting in Abidjan, Ivory Coast a few hours ago.
The Chadian Finance Minister Kordje Bedoumra, secured 32 percent support, and his counterpart from Cape Verde, Cristina Duarte, 10 percent.
Adesina will take over as head of the development bank on Sept. 1, this year.
The African Development Bank operates under the leadership of the President, who serves as the legal representative of the Bank, the Chairperson of the Board of Directors, and the Chief of Staff of the Bank.
The President conducts the current business of the Bank, under the direction of the Board of Directors.
The President is elected by the Board of Governors and serves a 5-year term, renewable once.
The outgoing President, Dr. Donald Kaberuka, a national of Rwanda, was elected in July 2005, and commenced his first term on 1 September 2005.
Following his re-election in May 2010, he commenced his last 5-year term on 1 September 2010.
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By: Vivian Kai Lokko/citifmonline.com/Ghana