The African Development Bank (AfDB) (www.AfDB.org) proudly celebrates its Diamond Jubilee, marking 60 years of driving social and economic transformation across the African continent. The Southern African regional celebration, held in Johannesburg, brought together leaders, stakeholders, and partners to reflect on the institution’s remarkable journey and its vision for a prosperous future.
Speaking at the event, Ms Leila Farah Mokaddem, Director General of the African Development Bank Group, highlighted the Bank’s legacy of impact and transformation. “Sixty years ago, the African Development Bank was born out of a vision for a better Africa. Today, we celebrate not just numbers but the lives transformed and communities uplifted through our work,” she said.
Key Achievements in Southern Africa
With an active portfolio of 226 projects worth USD 11 billion, the Bank’s unwavering commitment to fostering sustainable growth and integration in Southern Africa is evident. Notable achievements include:
- SADC Sub-Regional Transport and Facilitation Project: A USD 231.3 million investment connecting Malawi and Mozambique, fostering trade, and mitigating regional fragility.
- Lesotho Highlands Water Project: A USD 2.1 billion initiative enhancing water transfer and hydroelectric power, essential for energy security.
- Kazungula Bridge Project: A USD 81.6 million investment strengthening connectivity between Zambia and Botswana along the North-South Corridor.
- Support for Transnet: A recent USD 1 billion sovereign-guaranteed corporate loan to aid South Africa’s freight transport recovery and growth.
The celebration also underscored the deep partnership between the Bank and the Government of South Africa. Honourable Minister Enoch Godongwana shared his reflections on this enduring collaboration:
“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.
To view our anniversary video that encapsulates these achievements and our vision for the future, please click here: Anniversary Video (https://apo-opa.co/4g8Y2s3).
Distributed by APO Group on behalf of African Development Bank Group (AfDB).
Media contact:
Natalie Naudé,
Communication and External Relations Department
n.naude@afdb.org
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About the African Development Bank Group:
The African Development Bank Group (AfDB) is the premier multilateral financing institution dedicated to Africa’s development. It comprises three distinct entities: the African Development Bank (AfDB), the African Development Fund (ADF) and the Nigeria Trust Fund (NSF). The AfDB has a field presence in 41 African countries, with an external office in Japan, and contributes to the economic development and social progress of its 54 regional member states. For more information: www.AfDB.org
