The African Development Bank (AfDB) has celebrated its 60th anniversary, highlighting six decades of driving social and economic progress across Africa. A regional celebration held in Johannesburg gathered leaders, stakeholders, and partners to reflect on the Bank’s legacy and discuss its vision for a more prosperous future.
Ms. Leila Farah Mokaddem, Director General of the African Development Bank Group, emphasized the Bank’s transformative role over the years. “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,” she stated.
Key Milestones in Southern Africa
The Bank’s active portfolio in Southern Africa comprises 226 projects valued at $11 billion, demonstrating its commitment to fostering sustainable growth and regional integration. Key achievements include:
- SADC Sub-Regional Transport and Facilitation Project: A $231.3 million investment linking Malawi and Mozambique to boost trade and regional stability.
- Lesotho Highlands Water Project: A $2.1 billion initiative enhancing water transfer and hydroelectric power, contributing to energy security.
- Kazungula Bridge Project: An $81.6 million project improving connectivity between Zambia and Botswana along the North-South Corridor.
- Support for Transnet: A recent $1 billion sovereign-guaranteed loan to support South Africa’s freight transport recovery and growth.
Strengthening Partnerships
The celebration highlighted the enduring collaboration between the AfDB and the Government of South Africa. South African Minister of Finance, Honourable Enoch Godongwana, commended the Bank’s impact:
"The Government of the Republic of South Africa celebrates this significant milestone with the African Development Bank. Our region, and indeed South Africa, continues to enjoy a fruitful partnership with the Bank as we work together toward a shared goal of creating a better Africa for future generations.
As we gather to celebrate the many achievements of our collaborative efforts, we also recognise the need to continue advancing Africa’s development agenda. This milestone energises us and strengthens our commitment to a shared vision for the next 60 years!"
Looking Ahead: A Vision for the Future
As the Bank embarks on its new Ten-Year Strategy, it prioritises integrated regional projects and climate resilience. Projects like the Lobito Rail Integrated Corridor, connecting Angola, DRC, and Zambia, promise to drive economic growth, agriculture value chains and renewable energy investments.
"Our work is far from over," Ms Mokaddem noted. "We invite all partners—governments, private sector actors, and international institutions—to join us in building a more inclusive and sustainable Africa. Together, we can address climate-related challenges and mobilise resources to ensure no one is left behind."
A Commitment to Africa’s Development
Under the leadership of President Dr Akinwumi A. Adesina, the Bank has maintained its AAA rating and authorised capital of USD 318 billion, with nearly 2,000 staff serving all 54 African countries. The institution continues to champion its “High 5s” priorities: lighting up and powering Africa, feeding Africa, industrialising Africa, integrating Africa, and improving the quality of life for the people of Africa.
The 60th-anniversary celebrations are a testament to the Bank’s resilience and the enduring support of its partners. The African Development Bank remains steadfast in its mission to transform lives and catalyse growth across the continent.
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