AT the AU Summit in Addis Ababa, President Emmerson Mnangagwa and Zambian President Hakainde Hichilema, joined by Burundi’s Evariste Ndaishimiye, the Common Market for Eastern and Southern Africa (COMESA) chair, held a joint press conference to rally support for Zambian candidate Samuel Maimbo in the race for African Development Bank (AfDB) president.
Maimbo, a VP at the World Bank, secured backing from regional leaders at last year’s SADC Summit in Harare.
He faces competition from candidates across other regions ahead of the elections set for May in Côte d’Ivoire.
AfDB has played a significant role in Zimbabwe’s financial landscape, extending $55 million in credit lines to the private sector since 2023, with a further $135 million planned for 2025.
Outgoing AfDB president, Akinwumi Adesina, has also led Zimbabwe’s arrears clearance negotiations with creditors.
The bank’s ownership structure comprises 54 African nations, collectively holding a 60% stake, while 27 non-African member countries control the remaining share.
