#Lusaka #Zambia #Samuel Maimbo #African Development Bank

Dr. Samuel Maimbo Announces Candidacy for African Development Bank Presidency

Dr. Samuel Maimbo, an expert in development finance, officially declared his candidacy for the presidency of the African Development Bank (AfDB) today. The announcement was made in Lusaka, Zambia, where he outlined his vision for a transformative economic future for Africa. This move comes with endorsements from both the Southern African Development Community (SADC) and the Common Market for Eastern and Southern Africa (COMESA).

Dr. Maimbo emphasized the crucial point that Africa stands at a decisive crossroads, noting the urgent need to mobilize a billion people into employment as quickly as possible. He stated, “We must provide strategic support to sectors that can improve living conditions and stimulate prosperity across our continent.” Maimbo insisted that the AfDB requires bold and results-oriented leadership, capable of making difficult decisions needed to realize these ambitious goals.

With a career spanning over three decades, Dr. Maimbo has demonstrated his ability to drive significant impacts, from record fundraising efforts to implementing ambitious visions and optimizing institutional frameworks. His presidential platform aims for Africa to achieve middle-income country status through a nimble, scalable, and efficient AfDB.

He notes that, “Africa needs considerably higher growth rates to overcome current development challenges and seize future opportunities. I am ready from day one to assist governments in achieving their objectives. It is time to stop discussing Africa's potential and start realizing it.”

Key Priorities of Dr. Maimbo’s Campaign

• - Trade and Regional Integration: Africa only accounts for 3% of global trade. The implementation of the African Continental Free Trade Area (AfCFTA) will unlock substantial growth potential for the continent's unified market of 1.4 billion people.

• - Financial Resources: Strengthening markets, enhancing savings, and attracting diverse investments can help close Africa's financing gaps.

• - Agricultural Transformation: With 60% of the world’s uncultivated arable land, Africa has the potential to become a global agricultural powerhouse.

• - Infrastructure Development: Upgrading infrastructure is crucial for enhancing competitiveness and driving growth in the region.

• - Energy Access: Accelerating access to energy while promoting sustainability will foster long-term economic progress in Africa.

• - Climate Action: Despite contributing less than 4% of global emissions, Africa faces disproportionate impacts from climate change. Increased investments in resilience and the adoption of new technologies will safeguard the continent's future.

• - Creative Industries: As a significant driver of youth employment and cultural exports, African creative industries can amplify the continent's global influence.

• - Inclusion: Engaging youth, women, and marginalized communities throughout Africa is essential in crafting effective strategies.

Born in Lusaka, Dr. Maimbo has extensive experience in development finance both in Africa and globally. Most recently, he served as the Vice President responsible for Budget, Performance Review, and Strategic Planning at the World Bank. In his role as Chief of Staff to various Bank presidents, he played a pivotal role in advancing strategic missions at the highest international levels. Notably, his leadership contributed to a record mobilization of $93 billion for the replenishment of the International Development Association (IDA), ensuring major commitments were directed towards Africa.

For more information on Dr. Samuel Maimbo’s candidacy, visit sammaimbo.com.

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