OPINION: Bravo to AfDB governors for standing their ground against the US
The US has a history of having its wishes granted, but for once came up short, judging from the outcome of the biggest meeting in Africa this past week, the joint 55th and 46th Annual Meetings of the Board of Governors of the African Development Bank and the African Development Fund , respectively.
The US unsuccessfully attempted a coup; using its 6.563% voting power to impugn Adesina’s fitness to hold office. Whistle-blowers accused him of corruption and nepotism. There are nine non-African voting member countries in the bank group’s top 20 shareholders, by equity percentage. His track record at the AfDB craves no spin-doctoring. On his watch, the Bank Group maintained a triple-A rating with a stable outlook from all four major global rating agencies. His management presented sterling operational and financial performance repeatedly.The AfDB grew its authorised capital by 100% to $208 billion.
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