Southern African Development Community leaders have officially endorsed Zambia’s Samuel Maimbo as the region’s candidate for the presidency of the African Development Bank (AfDB), the SADC Secretariat announced on Tuesday.
The Gaborone-based SADC secretariat said the endorsement took place during the 44th SADC Summit which was held in Harare on August 17.
“Maimbo was selected through a competitive process among seven candidates from the SADC region,” the organisation said in a statement.
According to the statement, the summit called on all the 16 SADC member states to rally behind and actively campaign for Maimbo’s candidacy.
Currently serving as the Vice President for Budget, Performance Review and Strategic Planning at the World Bank Group since July 2023, Maimbo brings nearly 30 years of extensive experience in development, financial markets and strategic planning.
In his current role, he is responsible for overseeing the World Bank’s annual programme budget, ensuring that resources align with the institution’s strategic priorities and operational needs.
Prior to this position, Maimbo served as chief of staff to World Bank presidents and was the director for resource mobilisation at the International Development Association.
His strategic leadership in various roles has established him as a key figure in implementing effective financial models and policies within the organisation.
Maimbo’s career at the World Bank spans over 23 years, during which he has held several pivotal roles, including senior advisor and practice manager in diverse sectors such as agriculture finance, infrastructure and climate finance.
Before his tenure at the World Bank, Maimbo was a bank inspector at Zambia’s central bank and an auditor at PricewaterhouseCoopers, further solidifying his expertise in financial management and governance.
The term of current AfDB president Akinwumi Adesina is due to end next year and elections for his replacement are scheduled for May 2025.
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