Africa: Mauritania’s AfDB Presidential Candidate Ould Tah Shares His Four Pillars of Leadership
NouakChott — Former Mauritanian Finance Minister and candidate for president of the African Development Bank (AfDB), Sidi Ould Tah, promised internal reforms at the regional development institution if elected at the upcoming Board of Governors meeting in Abidjan. Tah said there’s a need to improve key functions of the Bank, such as reducing the time frame for the implementation of projects and attracting the necessary talent.
The economist, who also previously headed the Arab Bank for Economic Development in Africa (BADEA), spoke at a well-attended press conference in Nouakchott on Tuesday, May 6, which was attended by Mauritania’s Minister of Economy and Finance, Sid’Ahmed Ould Bouh. The northwest African nation is rallying behind their compatriot since he formally declared his intention to head the AfDB earlier in the year.
Ahead of Tuesday’s press conference, Minister Bouh told a gathering of Mauritanian stakeholders and supporters of the Tah’s candidacy that he presents “a real chance” for Africa and the African Development Bank. The minister said that as a special envoy for the candidate, he visited many countries, including South Africa and the United States, helping to build support.
At Tuesday’s press briefing, Tah outlined four main pillars that would form the basis of his leadership, including the scaling up of financing for development and strengthening the continent’s financial architecture. “Obviously, the volume of financing falls far below what is required,” he said, noting that the needs on the continent require financing of more than U.S. $400 billion.
The AfDB’s outgoing President Akinwumi Adesina is credited with implementing the largest-ever capital increase in the Bank’s history – from U.S. $93 million when he took over in 2015 to U S. $318 million. Tah acknowledged that the task ahead would be difficult, but not impossible, as “plenty of tools” are available to upgrade the Bank’s financing by “tenfold”.
The former head of BADEA called for synergy amongst African financial institutions, such as the AfDB and other development finance institutions, which he said are working in “disconnect” with one another. Analysts say that inadequate infrastructure, limited access to financial services, and regulatory hurdles are among the myriad of challenges facing these institutions, and how Tah tackles them will be a testament to his leadership skills if elected.
One sector the Mauritanian has been noted for heralding in recent weeks is the continent’s growing youthful demographic, which he told journalists presents both an opportunity and a risk, as high unemployment can be a source of instability. He said the education system needs to be changed to cater to current realities, stressing that “most of our schools are not providing the required education for the skills needed on the continent”.
He said there was a need to focus on technical and vocational education that would allow young people to use acquired skills for development. “The youth needs to be encouraged to work outside the office environment”, Tah said.
Climate change and the use of Artificial Intelligence for development were also highlighted as “prospective pillars” of Tah’s policy prescription for the AfDB. Africa, he said, is part of the world, and therefore facing the same set of climate challenges.
With journalists from various news organizations in Nouakchott to cover the event, Tah used the opportunity to stress the importance of the media and the need for a strong relationship with the AfDB. He said the media can provide positive feedback on the effectiveness of the bank’s activities in member countries.
Tah believes the media can also be of help to the development work of the AfDB in the nature of their reporting. “We should work with the media on changing the negative narrative,” he said, while noting that the media can be an effective partner in raising awareness when dealing with continent-wide challenges such as pandemics.
The four other candidates challenging Tah for the presidency are Senegal’s Amadou Hott, the country’s former minister of economy and planning; Zambia’s Samuel Munzele Maimbo, who is Vice President of the World Bank; South Africa’s Bajabulile Swazi Tshabala, the only woman candidate who resigned her role as senior vice president of the AfDB to seek the top job; and Chad’s Abbas Mahamat Tolli, an economist and a former Governor of the Bank of Central African States.
By Boakai Fofana
