By Ajong Mbapndah L
The African Development Bank (AfDB) stands at a crossroads, and according to Zambian economist and AfDB presidential hopeful Samuel Munzele Maimbo, this is a moment that calls for bold reform, not incrementalism.
With clarity and urgency, Maimbo has laid out a vision for the bank’s evolution, one centered on unlocking the full potential of African capital to meet African challenges.
“Africa must stop relying solely on external actors and instead mobilize African money for African challenges,” Maimbo said in a recent televised interview with Arise News. His conviction is rooted in the understanding that transformational change cannot come from the outside in. It must be driven internally, strategically, and sustainably.
This isn’t just rhetoric—it’s a call to reengineer the very mechanics of development finance. Maimbo envisions a bank that acts as a catalyst, not merely a conduit, one that strategically leverages local financial institutions, pension funds, and private capital. “Partnerships with African financial institutions are crucial,” he emphasized. “By streamlining our decision-making and strategically deploying capital, we can enable the mobilization of private sector financing and create more sustainable solutions.”
He argues that when local capital is anchored in local priorities, solutions become inherently more resilient, less prone to the shocks of global economic volatility. And he’s not alone in this belief. The response across the continent has been overwhelmingly supportive, with experts, industry leaders, and academics rallying behind this vision of a redefined AfDB.
Dr. Okia, affiliated with Peking University’s development hub, offered a heartfelt endorsement: “You are the candidate for the Bank. Congratulations, Doc Samuel.” It’s a sentiment echoed by many who see Maimbo as a fresh and qualified voice, unencumbered by political entanglements and driven by merit and mission.
Among those voicing support is Donald Kanjungu, Director of Projects, who offered a pointed comparison: “Of all the candidates, he is the only one with an appropriate PhD. Unlike others, he doesn’t come with political connections.” In a region where technocratic expertise is often sidelined by political affiliations, Maimbo’s credentials stand out—not just academically, but in vision.
The Zambian candidate’s plan puts private sector development at the center of the Bank’s strategy. “Whether it’s infrastructure, energy, or job creation for young people, the private sector is the cornerstone of everything we aim to accomplish,” he said. This is particularly resonant in a continent where nearly 60% of the population is under the age of 25, and unemployment continues to stifle potential.
This generation, Maimbo implies, deserves more than pilot projects and slow-moving bureaucracy. They deserve opportunity, autonomy, and investment that drives real change. As Temiloluwa Emidun, a private sector professional from West Africa, passionately commented, “I have quality private sector experience and I’m enthusiastic about the role the private sector can play in job creation, energy, and being a catalyst for Africa’s development.”
The conversation is not just about money—it’s also about mindset. For far too long, development models have functioned as extractive systems. As Kwibisa Michael Masupelo, a leader in technology sourcing, pointed out, “Most of the projects financed by the African Development Bank—80% of the money ends up outside Africa, either in material or expertise costs.” The solution, he argues, is to “re-wire the financing architecture” so that African capital remains within African borders, circulating and multiplying its developmental impact.
Masupelo goes further, proposing that the AfDB prioritize funding for large-scale manufacturing in Africa and encourage major suppliers—such as Chinese manufacturers—to build and reinvest on the continent. “This will boost GDP and intra-Africa trade,” he said, echoing Maimbo’s belief that internal capacity-building is key.
There’s growing consensus that the AfDB’s future lies not just in writing checks, but in rewriting rules. Rules that elevate African solutions, empower African institutions, and create value chains rooted in local capacity.
“We must move beyond incremental progress,” Maimbo insists. “It’s time to create transformational success for all.” His critics may question the feasibility of his roadmap, but what’s clear is this: business as usual is no longer good enough.
Africa’s challenges are urgent. Its solutions must be too. If Maimbo’s vision becomes reality, the AfDB could be more than a bank. It could be a blueprint for how Africa redefines development—from the inside out.
