- Diplomatic sources say if Dr Maimbo secures the position, it would be a significant win for SADC
GAZETTE REPORTER
Botswana has joined other Southern African Development Community (SADC) member states in endorsing Zambia’s Dr Samuel M. Maimbo for the presidency of the African Development Bank (AfDB) Group.
Dr Maimbo emerged as SADC’s preferred candidate following a closely contested race during the recent Heads of State Summit in Zimbabwe.
He faced competition from six other candidates within the SADC region.
According to information reaching The Botswana Gazette, Botswana has not fielded its own candidate and President Mokgweetsi Masisi has committed to campaign for Dr Maimbo because he is a strong supporter of his candidacy.
Diplomatic sources suggest that if Dr Maimbo secures the position, it would be a significant win for SADC states.
In addition to managing the day-to-day operations of the bank, in accordance with Article 37 of the Agreement Establishing the Bank, the President of AfDB serves as the Chairperson of the Board of Directors, the chief of the bank’s staff and its legal representative.
Botswana’s post-pandemic recovery
“He would be key in advancing the SADC agenda, which focuses on economic development and integration across member states,” said a source familiar with the recent SADC meeting.
In 2022, the AfDB approved Botswana’s $179.66 million (approximately P2.3 billion) to support government reforms to restore post-pandemic fiscal stability and economic recovery.
While Sub-Saharan Africa has been represented in AfDB leadership, there has not been a president from a SADC member country in recent years.
Opportunity for the SADC region
The endorsement of Dr Samuel Maimbo of Zambia therefore represents a significant opportunity for the SADC region to potentially lead the bank.
The current President of the bank, Dr Akinwumi A. Adesina of Nigeria, was first elected on 28 May 2015 and commenced his second term on 1st September 2020.
The AfDB President is elected by the Board of Governors and serves a five-year term, renewable once.
Dr Maimbos candidacy for the upcoming election in May 2025 is seen as a strategic move to enhance SADC’s influence within the AfDB.
How the AfDB President is elected
The election of the President of the African Development Bank (AfDB) is determined by the Board of Governors, which consists of representatives from the 54 regional member countries (African countries) and 27 non-regional member countries (countries outside Africa) that are shareholders in the AfDB.
Each member country’s vote is weighted according to the size of its shareholding in the bank. The candidate who receives a majority of the weighted votes cast by the Board of Governors is elected as the President of the AfDB.
The election process involves several rounds of voting, and if no candidate secures the required majority in the initial rounds, the candidate with the least votes is eliminated, and voting continues until a candidate wins.