The Southern Africa Development Community (SADC) has endorsed Zambian National, Dr. Samuel Maimbo as a candidate for the African Development Bank (AFDB) presidency.
The Southern African Development Community Heads of State and Government okayed Dr. Samuel M. Maimbo’s candidacy. Dr Maimbo emerged victorious in a pool of seven candidates in a competitive selection process.
He is vying for the position of the Office of the President of the African Development Group which fall vacant when the current President of the Bank, Dr. Akinwumi A. Adesina, a national of Nigeria’s term of office expires. Dr. Adesinaโs successor will be elected on the 29th May 2025, during the 2025 Annual Meeting of the Board of Governors of the Bank, scheduled to take place in Abidjan, Cรดte dโIvoire, from 26 to 30 May 2025.
The President of AFDB conducts the current business of the Bank, under the direction of the Board of Directors. Under article 36 of the Agreement Establishing the Bank, the President is elected by the Board of Governors and serves a 5-year term, renewable once.
The endorsement by SADC of Dr. Maimbo was approved during the 44th Ordinary SADC Summit of Heads of States and Government in Harare, Zimbabwe on 17 August 2024.
Currently, Dr Maimbo is the Vice President for Budget, Performance Review, and Strategic Planning at the World Bank Group since July 1, 2023.
In this role, Dr. Maimbo oversees the World Bankโs annual Programme Budget and All Funds, including the administrative budget for Bank Budget (BB) funds, Trust Funds, and Reimbursable Funds, ensuring resources are aligned with the institutionโs strategic priorities, financial sustainability objectives, efficiency targets and business needs. He also serves as the top advisor to the World Bankโs senior management team on resource management allocation, leads the financial planning and performance review process for the institutionโs multi-year Strategy and Business Outlook, and ensures the institution operates within budget.
Dr. Maimbo has nearly thirty years of experience in development, financial markets, resource mobilization and strategic planning. Prior to his current position, he served as the Chief of Staff to World Bank Presidents. He also served as the Director of the International Development Association (IDA) Resource Mobilization and International Bank for Reconstruction and Development (IBRD) Corporate Finance department for just over two years, where he was responsible for the implementation of IDAโs hybrid financial model and the policy analysis of IBRD income and corporate finance.
In the past 23 years at the World Bank, Dr. Maimbo has held several positions, including Senior Advisor in the Office of the Managing Director and Chief Financial Officer. He has also worked on a diverse range of operations and countries in the Bankโs Finance Competitiveness and Innovations (FCI) Global Practice, including as Practice Manager for Strategy and Operations; and Practice Manager for Long-Term Finance & Risk Management supporting the Agriculture Finance & Insurance, Capital Market Development, Disaster Risk Finance, Housing Finance, Infrastructure Finance, Pensions & Insurance, and Climate Finance programs. He also served as Financial Sector Specialist in three regions, including South Asia, sub-Saharan Africa, and Europe and Central Asia.
Prior to joining the World Bank, Dr. Maimbo held the position of Bank Inspector at the Bank of Zambia and Auditor at PricewaterhouseCoopers (PWC).
Despite Zambian President H HIchilema’s no show at the SADC Summit, Zimbabwe is in full support of the candidature of the neighbour’s national signalling maturity and putting the region’s interests at the forefront on the part of the country’s leadership.
The leadership of the country has not allowed egos to cloud the regional bloc’s quest to support one of their own.
The SADC Chairperson, President Mnangagwa is a unifier who yearns and advocates for the upliftment of the region socially, politically and economically.
As 2025 approaches, the work to canvass support for Dr Maimbo begins in ernest.
sadc,int/Positive Eye News
