Dr. Akinwumi Adesina, President of the African Development Bank (AfDB), and Hassatou Diop N’Sele, the bank’s Vice President for Finance, have been recognized among the 100 Most Influential Africans of 2024 by New African Magazine. This prestigious accolade underscores their remarkable contributions to Africa’s economic development and financial innovation, solidifying their positions as leading figures shaping the continent’s future. Adesina’s leadership has been transformative for the AfDB, marked by a significant expansion of the institution’s capital base from $93 billion to an impressive $318 billion. This financial strengthening has empowered the bank to amplify its impact across various sectors, driving progress and development across the continent. This recognition further adds to Adesina’s growing list of accolades, recently being named “African of the Decade” for his profound and lasting impact on Africa’s development trajectory.
Adesina’s tenure at the helm of the AfDB has been characterized by a strong focus on key areas crucial for Africa’s progress: agriculture, infrastructure development, and sustainable economic growth. His vision for a prosperous Africa is underpinned by strategic investments and initiatives aimed at empowering local communities, fostering entrepreneurship, and creating a conducive environment for sustainable development. His commitment to serving the continent remains unwavering, with his tenure set to conclude in August 2025, leaving behind a legacy of impactful leadership and a strengthened institution poised to continue driving Africa’s transformation.
N’Sele’s inclusion in the list highlights her pioneering work in climate finance, a critical area for Africa’s sustainable development. Her innovative approach and leadership have been instrumental in the AfDB’s introduction of a groundbreaking $750 million hybrid bond. This innovative financial instrument, significantly oversubscribed by $6 billion, represents a major milestone in climate finance, paving the way for multilateral banks to leverage private capital for large-scale development projects with a focus on environmental sustainability. This innovative financing mechanism demonstrates the AfDB’s commitment to exploring new and effective ways to mobilize resources for crucial development initiatives.
The hybrid bond signifies a paradigm shift in development finance, blending the strengths of both public and private sector investments. It allows for the mobilization of substantial resources while mitigating risk and fostering collaboration for impactful projects. N’Sele’s leadership in this initiative underscores her commitment to finding sustainable and scalable solutions for financing development in Africa, particularly in the face of climate change challenges. The success of the bond further demonstrates the growing confidence of investors in the AfDB’s innovative approach and its potential for maximizing development impact.
The recognition of both Adesina and N’Sele by New African Magazine reflects the AfDB’s pivotal role in Africa’s economic progress. Their leadership has not only transformed the institution itself but has also contributed significantly to the broader development landscape of the continent. Their inclusion alongside other prominent figures such as King Mohammed VI of Morocco, Nigerian industrialist Aliko Dangote, and actor Idris Elba, further emphasizes the significance of their contributions on a continental and global scale. The list serves as a testament to the rising influence and impact of African leaders across various sectors.
The New African Magazine’s list of 100 Most Influential Africans is considered a definitive benchmark for recognizing and celebrating African excellence. It highlights the contributions of individuals shaping the continent’s future across diverse fields, including politics, business, arts, and science. The 2024 list, as described by editor Anver Versi, showcases Africa’s resilience and ingenuity, especially amidst global challenges. It serves as a powerful platform for promoting unity and highlighting the positive narrative of African progress and leadership on the world stage. The AfDB’s continued recognition on this list reinforces its position as a key driver of Africa’s economic advancement and its commitment to sustainable and inclusive growth.
