Samuel Maimbo Launches Bid for African Development Bank Presidency, Calls for Greater Support for Africa’s Growth

Zambian-born development finance expert Samuel Maimbo has called for more support to aid Africa’s growth. Miambo officially launched his campaign for the Presidency of the African Development Bank (AfDB) on 31 January, vowing to drive Africa’s economic transformation. He emphasised the urgent need for strategic investment and financial support, declaring that "Africa stands at a critical juncture."

Endorsed by both the Southern African Development Community (SADC) and the Common Market for Eastern and Southern Africa (COMESA), Maimbo highlighted that 40% of African countries receiving financial concessions from multilateral institutions are struggling. To overcome this, he stressed the need for high-level support and bold economic reforms.

 "Africa needs significantly higher rates of growth to successfully navigate today's development challenges and capture tomorrow's opportunities," Maimb explained. 

In an interview with ZNBC, Maimbo underscored the importance of investing in the domestic private sector, arguing that true economic development stems from empowering local businesses and breaking down financial barriers.  He also called for greater regional integration, urging African markets to expand beyond the continent, as no single economy can thrive in isolation.

Maimbo further highlighted Africa’s employment crisis, noting that while the continent produces 10 million graduates, only three million jobs are available. He stressed the need for sectors to create sustainable employment opportunities for young people.

With the AfDB election set for 29 May 2025, Maimbo has pledged to hit the ground running if elected. "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 affirmed.