SADC Chairperson President Mnangagwa Endorses Dr. Samuel Munzele Maimbo for ADB Presidency By Takasununguka Ziki FOLLOW OUR CHANNEL: https://whatsapp.com/channel/0029VaCpLzu2f3EBYPSgI93M 15 February, 2025 | Zim Global Media News 🗞️ Addis Ababa, Ethiopia – In a significant move aimed at shaping the future of Africa’s economic development, Southern African Development Community (SADC) Chairperson and Zimbabwean President His Excellency Dr. Emmerson Dambudzo Mnangagwa has officially endorsed Dr. Samuel Munzele Maimbo for the presidency of the African Development Bank (ADB). The endorsement was made during a high-level meeting held on the sidelines of the African Union (AU) Summit in Addis Ababa this Saturday evening. The African Development Bank, a cornerstone institution for economic growth, regional integration, and poverty eradication on the continent, is set to undergo a leadership transition as its current president, Dr. Akinwumi Adesina, concludes his decade-long tenure. Dr. Maimbo, a seasoned economist and development expert from Zambia, has emerged as a frontrunner for the position, garnering support from key regional blocs, including SADC and the Common Market for Eastern and Southern Africa (COMESA). President Mnangagwa, speaking in his capacity as SADC Chairperson, emphasized the critical role the ADB plays in addressing Africa’s pressing challenges while unlocking its vast potential. “The new leadership of the African Development Bank comes at a pivotal moment for our continent. We are faced with numerous challenges, but equally, we are presented with greater possibilities and opportunities,” he stated. The endorsement of Dr. Maimbo reflects a collective regional commitment to ensuring that the ADB continues to drive transformative development across Africa. President Mnangagwa highlighted the institution’s importance in fostering economic growth, promoting regional integration, and eradicating poverty. “The ADB remains a cornerstone institution for Africa’s development. Its leadership must be visionary, experienced, and deeply committed to the continent’s aspirations,” he added. The launch of Dr. Maimbo’s candidacy was met with widespread support, not only from SADC but also from COMESA, further solidifying his position as a unifying candidate for the ADB presidency. Zambian President Hakainde Hichilema, who attended the event, expressed his confidence in Dr. Maimbo’s ability to lead the institution effectively. “Following the endorsement by COMESA and SADC, our candidate, Dr. Samuel Munzele Maimbo, is in a strong position to run for the presidency of the African Development Bank,” President Hichilema said. He emphasized the importance of the ADB in addressing Africa’s development challenges, particularly in areas such as infrastructure development, climate resilience, and youth empowerment. Dr. Maimbo’s candidacy is seen as a testament to Zambia’s growing influence in regional and continental affairs. With a distinguished career in economics and development finance, Dr. Maimbo has earned a reputation as a pragmatic and innovative leader. His extensive experience includes senior roles at the World Bank, where he spearheaded initiatives aimed at improving financial systems and fostering inclusive growth in developing countries. In his address, Dr. Maimbo outlined his vision for the ADB, emphasizing the need for the institution to adapt to the evolving needs of the continent. “Africa is at a crossroads. We have the potential to become a global economic powerhouse, but this requires bold leadership, innovative solutions, and a relentless focus on implementation,” he said. Dr. Maimbo’s agenda for the ADB includes strengthening the bank’s financial capacity to support large-scale infrastructure projects, enhancing its role in addressing climate change, and promoting private sector investment in key sectors such as agriculture, energy, and technology. He also stressed the importance of empowering women and youth, who represent the backbone of Africa’s future. “The African Development Bank must be a catalyst for change, driving projects that create jobs, improve livelihoods, and ensure sustainable development. We cannot afford to leave anyone behind,” Dr. Maimbo asserted. The outgoing ADB president, Dr. Akinwumi Adesina, leaves behind a legacy of transformative leadership. Under his stewardship, the bank achieved significant milestones, including the approval of a historic $115 billion capital increase in 2019, the largest in the institution’s history. Dr. Adesina also championed initiatives such as the “High 5s,” which focused on lighting up and powering Africa, feeding Africa, industrializing Africa, integrating Africa, and improving the quality of life for Africans. As the continent prepares to welcome a new leader, expectations are high for the incoming president to build on this foundation and address emerging challenges. These include the economic fallout from the COVID-19 pandemic, the growing threat of climate change, and the need to harness the potential of the African Continental Free Trade Area (AfCFTA). The endorsement of Dr. Maimbo by SADC and COMESA underscores the importance of regional unity in advancing Africa’s interests on the global stage. President Mnangagwa called on other regional blocs and member states to rally behind Dr. Maimbo’s candidacy, emphasizing the need for a cohesive African voice in international financial institutions. “Africa’s strength lies in its unity. By supporting Dr. Maimbo, we are not only endorsing a candidate but also affirming our collective commitment to a prosperous and integrated Africa,” President Mnangagwa said. The African Development Bank, established in 1964, has played a pivotal role in financing development projects across the continent. With 81 member countries, including 54 African nations and 27 non-African shareholders, the bank is uniquely positioned to mobilize resources and drive impactful initiatives. Dr. Maimbo’s candidacy represents a beacon of hope for millions of Africans who aspire to a brighter future. His vision for the ADB aligns with the aspirations of Agenda 2063, the African Union’s blueprint for transforming the continent into a global powerhouse. The endorsement of Dr. Samuel Munzele Maimbo by SADC and COMESA marks a significant step forward in Africa’s quest for sustainable development. As the continent navigates the complexities of the 21st century, the leadership of the African Development Bank will be instrumental in shaping its destiny. With Dr. Maimbo at the helm, Africa can look forward to a new era of innovation, inclusivity, and prosperity. ——————————————— Zim Global Media News 🗞️ an Afrocentric Voice https://www.zimglobalmedia.co.zw ———————————————