Dr. Samuel Maimbo Announces Candidacy for AfDB Presidency with Vision for Africa's Future
Dr. Samuel Maimbo, a development finance specialist with a decades-long career, has announced his intention to run for President of the African Development Bank (AfDB). Backed by endorsements from significant regional organizations such as the Southern African Development Community (SADC) and the Common Market for Eastern and Southern Africa (COMESA), Maimbo brings a promising vision aimed at reshaping the continent's economic landscape.
In his announcement, Dr. Maimbo emphasized the critical moment Africa finds itself in, stating, "Africa stands at a critical juncture." He outlined an ambitious goal to create job opportunities for one billion people by strategically supporting industries that can uplift livelihoods across the continent. Recognizing the challenges that lie ahead, he asserts that the AfDB requires bold and results-oriented leadership willing to make difficult decisions necessary for progress.
With a rich history that includes record fundraising achievements and effective implementation of development strategies, Dr. Maimbo's approach hinges on nurturing an AfDB that prioritizes pace, scale, and effectiveness. He highlighted the necessity of substantially higher growth rates to help Africa tackle current development hurdles while seizing future opportunities. "I'm ready on day one to support governments in reaching their goals. It's time to stop talking about Africa's potential and start realizing it," he declared.
Central to his campaign are key priorities that include:
1. Trade and Regional Integration: Currently, Africa comprises only 3% of global trade. Utilizing the Africa Continental Free Trade Area (AfCFTA) could tap into the vast market potential of 1.4 billion people.
2. Financial Resources: Closing the financing gap for Africa involves strengthening market dynamics, boosting savings, and attracting diverse investments.
3. Agricultural Transformation: With around 60% of the world’s uncultivated arable land, Africa possesses the capacity to emerge as a leader in global agriculture.
4. Infrastructure Development: Revamping infrastructure is crucial to enhancing the continent's competitiveness and growth trajectories.
5. Energy Access: By accelerating energy access while ensuring sustainable practices, Africa can secure its long-term economic development.
6. Climate Action: Despite being responsible for less than 4% of global emissions, Africa faces severe impacts of climate change. Scaling investments in resilience and adopting new technologies is essential for safeguarding the continent's future.
7. Creative Industries: The creative sectors can serve as a vital source of employment for youth and bolster cultural exports, thereby enhancing Africa's global presence.
8. Inclusivity: Essential strategies must include the voices of young people, women, and marginalized communities to ensure holistic development across the continent.
Born and raised in Lusaka, Dr. Maimbo's extensive work in development finance spans various regions around the globe. Previously, he served as the Vice President of Budget, Performance Review, and Strategic Planning at the World Bank. His tenure involved significant contributions to the institution's mission and strategies, where he secured a landmark $93 billion financing package under the International Development Association replenishment, allocating over 70% of funding towards African projects.
Dr. Maimbo's candidacy represents not just a personal ambition but a larger movement towards maximizing Africa's potential and fostering sustainable growth. As he embarks on this journey, he invites support and engagement from stakeholders across the continent and beyond to collaboratively navigate the path forward for Africa.
In his announcement, Dr. Maimbo emphasized the critical moment Africa finds itself in, stating, "Africa stands at a critical juncture." He outlined an ambitious goal to create job opportunities for one billion people by strategically supporting industries that can uplift livelihoods across the continent. Recognizing the challenges that lie ahead, he asserts that the AfDB requires bold and results-oriented leadership willing to make difficult decisions necessary for progress.
With a rich history that includes record fundraising achievements and effective implementation of development strategies, Dr. Maimbo's approach hinges on nurturing an AfDB that prioritizes pace, scale, and effectiveness. He highlighted the necessity of substantially higher growth rates to help Africa tackle current development hurdles while seizing future opportunities. "I'm ready on day one to support governments in reaching their goals. It's time to stop talking about Africa's potential and start realizing it," he declared.
Central to his campaign are key priorities that include:
1. Trade and Regional Integration: Currently, Africa comprises only 3% of global trade. Utilizing the Africa Continental Free Trade Area (AfCFTA) could tap into the vast market potential of 1.4 billion people.
2. Financial Resources: Closing the financing gap for Africa involves strengthening market dynamics, boosting savings, and attracting diverse investments.
3. Agricultural Transformation: With around 60% of the world’s uncultivated arable land, Africa possesses the capacity to emerge as a leader in global agriculture.
4. Infrastructure Development: Revamping infrastructure is crucial to enhancing the continent's competitiveness and growth trajectories.
5. Energy Access: By accelerating energy access while ensuring sustainable practices, Africa can secure its long-term economic development.
6. Climate Action: Despite being responsible for less than 4% of global emissions, Africa faces severe impacts of climate change. Scaling investments in resilience and adopting new technologies is essential for safeguarding the continent's future.
7. Creative Industries: The creative sectors can serve as a vital source of employment for youth and bolster cultural exports, thereby enhancing Africa's global presence.
8. Inclusivity: Essential strategies must include the voices of young people, women, and marginalized communities to ensure holistic development across the continent.
Born and raised in Lusaka, Dr. Maimbo's extensive work in development finance spans various regions around the globe. Previously, he served as the Vice President of Budget, Performance Review, and Strategic Planning at the World Bank. His tenure involved significant contributions to the institution's mission and strategies, where he secured a landmark $93 billion financing package under the International Development Association replenishment, allocating over 70% of funding towards African projects.
Dr. Maimbo's candidacy represents not just a personal ambition but a larger movement towards maximizing Africa's potential and fostering sustainable growth. As he embarks on this journey, he invites support and engagement from stakeholders across the continent and beyond to collaboratively navigate the path forward for Africa.
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