The Board of Governors of the Arab Bank for Economic Development in Africa (BADEA) has appointed His Excellency Abdullah Almusaibeeh, a current board member, as the new President of the institution.

He will succeed Mauritanian Dr. Sidi Ould Tah, whose exceptional tenure will officially conclude on June 30, 2025. The New leadership of BADEA was ratified at the Annual General Meeting of the Bank held in Kuwait City recently.

This change comes at a time when BADEA is experiencing unprecedented momentum, driven by Dr. Tah’s visionary leadership since his appointment in 2015. During his mandate, the Bank’s capital was trippled, and its operational volume also increased threefold, elevating it to the ranks of Africa’s leading financial institutions.

This growth has been marked by expanded budgetary support to states, major investments in infrastructure, and a significant increase in private sector financing.

Since its inception 50 years ago, BADEA has funded projects and operations amounting to over USD 15 billion, of which USD 11 billion was delivered under Dr. Tah’s leadership alone. In just 10 years, the bank has provided financing that more than doubles what was achieved in the previous forty years.

More importantly, the pace of project and operation implementation has significantly accelerated, with annual disbursements increasing eightfold over the past decade.

Remarkably, this rapid expansion did not compromise the quality of the Bank’s assets. On the contrary, the non-performing loan (NPL) ratio dropped from over 10% to just 0.5%. Furthermore, previously unrated, the bank has earned extremely high ratings from international agencies.

Initially self-funded, BADEA has successfully established itself as a trusted regular issuer in the international capital markets. The institution has also

obtained ISO certifications in key areas such as ESG, quality management, and IT security, while successfully undergoing a comprehensive digital transformation.

The bank has demonstrated notable resilience in navigating multiple crises, including the Covid-19 pandemic, political upheaval, and the war in Sudan. Recognising its pivotal role and the successful delivery of its transformation agenda, BADEA’s shareholders approved an exceptional capital increase of 376% in 2022.

Under Dr. Tah’s leadership, the bank invested USD 2.3 billion in more than 800 African SMEs, creating over 50,000 jobs across countries including Kenya, Senegal, Rwanda, and Ivory Coast. These targeted investments have focused on high-potential sectors such as agriculture, renewable energy, and tech start-ups.

It also supported major infrastructure projects, including the installation of 400 MW of solar power capacity in arid regions, supplying electricity to over 200,000 homes and businesses.

Strategic road projects connecting agricultural hubs in East Africa, representing an investment of USD 1.2 billion, have reduced transport costs by 15%, boosting the competitiveness of local agro-industries and supporting thousands of farmers sustainably.

Dr. Tah’s tenure also promoted the development of industrial corridors and smart city initiatives focused on sustainable urban planning, enabling greater participation by African businesses in BADEA-financed projects.

Alongside these achievements, Dr. Tah is now a candidate for the presidency of the African Development Bank (AfDB), building on his widely recognised track record in economic development, financial inclusion, and infrastructure advancement across Africa.

The new BADEA President, Mr. Abdullah Almusaibeeh, holds a degree in mathematics from Kuwait University and is a seasoned expert in international development finance.

He joined the Kuwait Fund for Arab Economic Development in 1993, holding several leadership roles overseeing portfolios in Asia, Latin America, the Caribbean, and the Arab region. Since 2022, he has served as Director of the Operations Department.

His expertise extends well beyond Kuwait, having represented the State of Kuwait on the steering committee of the Syria Recovery Trust Fund, and serving on BADEA’s Board of Directors, as well as on the administrative committee of the Al-Aqsa and Al-Ǫuds Funds.

Mr. Almusaibeeh’s appointment is seen as a continuation of the banks strategic path, with a clear ambition to consolidate its achievements and further expand the institution’s reach at a time when African economies are facing growing financial needs.