Driving Economic Transformation: Adesina’s Legacy at the AfDB
In the preceding articles, we explored Dr. Akinwumi Adesina’s transformative impact on agriculture in Nigeria and his groundbreaking initiatives at the African Development Bank (AfDB), where he championed the High 5s strategy, mobilized billions in investments, and navigated Africa through unprecedented challenges. This final instalment discusses his remarkable leadership achievements, highlighting his enduring legacy as a driving force behind Africa’s economic transformation.
Thank you for reading this post, don't forget to subscribe!On August 27, 2020, Dr. Adesina made history by being re-elected as President of the AfDB for a second five-year term. Unanimously endorsed by all African and non-African member countries, he became the first leader in the Bank’s history to secure 100% of the votes. His re-election underscored global confidence in his vision and leadership.
One of Dr. Adesina’s standout accomplishments during his second term was the AfDB’s swift and robust response to the COVID-19 pandemic. Under his direction, the Bank launched a $10 billion Crisis Response Facility to support African countries and issued a $3 billion Fight-COVID-19 social bond, the largest U.S. dollar-denominated social bond in global history. These efforts provided critical resources to mitigate the pandemic’s socioeconomic impact across the continent.
The accolades for the AfDB under Adesina’s leadership are testament to his transformative influence. In 2021, the Bank was ranked by Publish What You Fund as the 4th most transparent institution in the world. Additionally, the African Development Fund (ADF), the AfDB Group’s concessional lending arm, earned the distinction of being the 2nd best-performing multilateral and bilateral lending institution globally. That same year, Global Finance magazine named the AfDB the Best Multilateral Financial Institution in the world.
Dr. Adesina’s exceptional contributions have earned him numerous prestigious awards and honors. In March 2024, he received the 2023 Obafemi Awolowo Leadership Award for his visionary leadership and dedication to Africa’s development. This recognition adds to an extensive list of accolades, including the YARA Prize (2007) for innovative agricultural approaches, the Borlaug CAST Communications Award (2010) for global leadership in agricultural science, and the World Food Prize (2017), often referred to as the “Nobel Prize for Agriculture.”
His contributions to academia are equally noteworthy. A prolific writer, Dr. Adesina has authored over 70 scholarly publications on agricultural and economic development. He has also supervised doctoral theses and served on editorial boards of leading academic journals, including the International Journal of Agricultural Economics. His excellence as an academic and leader was recognized when he was awarded the Outstanding Black Agricultural Economist Award by the American Association of Agricultural Economists and named a Distinguished Africanist Scholar at Cornell University.
Dr. Adesina’s legacy is further enriched by the numerous honorary doctorates and national honors he has received. These include distinctions from institutions such as Purdue University, Franklin and Marshall College, and the Federal University of Technology, Akure. He has been decorated with the highest national honors by Senegal, Cameroon, Madagascar, Togo, Liberia, Niger, and Tunisia, highlighting his widespread influence and respect.
In 2019, he was named African of the Year by African Leadership Magazine, and in 2020, he was honored with the Academy of Public Health’s Distinguished Fellowship Award for his efforts in mitigating the impact of COVID-19 in Africa.
Dr. Adesina’s enduring contributions to Africa’s development reflect his unwavering dedication to fostering sustainable growth and economic prosperity. From revolutionizing agriculture to spearheading innovative solutions at the AfDB, his legacy will continue to inspire generations to come.
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