Dr. Samuel Maimbo, a leading candidate for the presidency of the African Development Bank (AfDB), has unveiled his vision for higher rates of economic growth, infrastructure modernization, and regional integration in Africa. In an exclusive interview with Business Insider Africa, Dr. Maimbo emphasized the need to reduce reliance on foreign aid by mobilizing domestic resources and private sector investment.

As a frontrunner for the AfDB presidency, Dr. Maimbo faces competition from four other candidates, including Amadou Hott (Senegal), Bajabulile Swazi Tshabalala (South Africa), Mahamat Abbas Tolli (Chad), and Sidi Ould Tah (Mauritania). The election for the new President will be held on May 29, 2025, during the African Development Bank's Annual Meeting in Abidjan, Côte d'Ivoire.

Dr. Maimbo's vision for the AfDB is centered around creating a results-driven institution that delivers impact, scales up ambitions, and helps governments create opportunities for one billion people to work. He prioritizes trade, regional integration, infrastructure, agriculture, energy, financial resources, inclusive growth, climate resilience, and creative industries as key areas for focus.

In terms of aligning the Bank's priorities with the African Union's Agenda 2063 and the Sustainable Development Goals, Dr. Maimbo emphasized the need to modernize Africa's infrastructure, deepen regional integration through the AfCFTA, and support governments in mobilizing a diverse array of domestic and global resources.

The SADC has recently pledged its support for Dr. Maimbo's candidacy, which he believes will help secure his path to becoming the next AfDB president. However, he also acknowledged the importance of building on the support received so far to deliver a future where Africa's progress is inclusive, resilient, and scaled up for generations to come.

Regarding the potential impact of reduced or cut-off aid from the United States, Dr. Maimbo stressed the importance of diversifying revenue and investment sources to power Africa's development. He highlighted the need for the AfDB to focus on facilitating private sector investment, tapping into underutilized resources, and building stronger partnerships with other global multilateral development banks.

Dr. Maimbo also emphasized the importance of leveraging initiatives such as the African Continental Free Trade Area (AfCFTA) to boost regional integration and economic growth. He proposed modernizing infrastructure, stabilizing prices, and boosting competitiveness to foster intra-African trade and address barriers to regional economic integration.

Finally, Dr. Maimbo expressed his commitment to making the AfDB the premier development institution of choice for governments in Africa, regardless of their membership in regional or global bodies such as BRICS. He emphasized the need to focus on delivering generational job creation, unlocking Africa's advantages in agriculture, modernizing infrastructure, and delivering energy access.

Overall, Dr. Maimbo's vision for the AfDB presidency prioritizes economic growth, regional integration, and private sector collaboration to drive Africa's development and prosperity.