Election for the new President of the African Development Bank (AfDB) is underway in Ivory Coast’s commercial capital of Abidjan.
The spokesperson for the bank, Joel Kibazo said the electoral process was one of the best conducted processes as it was open, transparent and democratic.
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“The election is conducted in series and as the electoral cycle progresses voters can decide to change their preference,” Kibazo told CNBC Africa.
Kibazo said the electoral outcome was not necessarily determined by the level percentage different shareholders had in the bank.
Nigeria has about 9.6 per cent stake of the bank and which will not guarantee victory for the country’s Akinwumi Adesina who is one of the eight candidates seeking to replace the outgoing President Donald Kaberuka.
“Nigeria has contested three times before and the country is yet the bank is yet to get the President from its country,” said Kibazo.
“In case there is stalemate, there will be a reconvening of the board of governors and a list of candidates.”
Kibazo said he hoped by 1 September there will be a new president of the bank.
The spokesperson did not give anything away with regards to chances of Cristina Duarte, the Minister for Finance, Planning and Public Administration in Cape Verde, the only woman running for the presidency.
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“Gender plays a critical role in the bank after the its 2014 gender strategy was formalised. However, the election will be decided not on gender terms but on who will be better placed to take the region’s development agent ahead."