The bank’s shareholders should back the only female candidate for bank president, to send a message to women across Africa and boost returns for its investors, say Amina Mohamed and Susana Malcorra
As the African Development Bank (AfDB) prepares to elect its 10th president this month, its shareholders should seize the strategic opportunity of naming a woman to fill this critical post.
The AfDB plays an important role in support of economic and social development in 54 African countries, with a combined population of nearly 1.5 billion people. But, just as important in today’s geopolitical landscape, the AfDB is no aid agency: it is a development bank, and its shareholders – all 54 Africa nations and non-African countries, including the United States, Britain, and France – receive a return on their investment. It proffers a rare example of how Africa’s crucial development initiatives including infrastructure, agriculture, and manufacturing, can be funded.
So, as an important institution it matters both to Africa and its shareholders on that continent and across the world who will take up the helm. All five candidates for the bank’s presidency have impressive credentials, and they have each offered compelling visions for leading this vital institution. However, when only one of the candidates – Swazi Tshabalala – is a woman, it is also worth asking what additional impact her election could have.
Since its founding in 1964, the AfDB has been led exclusively by men. This pattern reflects the persistent underrepresentation of women in the top leadership roles of international institutions around the world. We are members of GWL Voices, an advocacy group that studies the leadership of 54 of these organizations.
In our latest annual report, “Women In Multilateralism 2025”, we note that the AfDB is one of 19 international organizations that has never been led by a woman. This group has been steadily shrinking in recent years, as institutions such as the International Monetary Fund, the World Trade Organization, the European Investment Bank, and the World Meteorological Organization have elected women to the top job for the first time. These elections reflect a global consensus that the leadership of these institutions should mirror the gender composition of the societies that serve.
Africa needs smart, determined, and visionary leadership to tackle its pressing challenges, from climate change to unemployment to infrastructure deficits. Fortunately, there is no shortage of African women who fit that bill. Across the continent, we have distinguished ourselves as ministers of finance, central bank governors, CEOs, economists, and development experts. Many of us have risen through the ranks in multilateral institutions, combining local knowledge with global experience. It is not a question of whether African women are qualified—it is a question of whether we will be given the platform to lead.
Unfortunately, women across Africa continue to face systemic barriers to accessing power and influence. While progress has been made in some countries, gender inequality remains entrenched in many spheres of public and economic life. Women are often sidelined from the highest echelons of political and financial decision-making, even when they demonstrate exceptional competence and leadership.
Given this context, electing a woman to lead the African Development Bank would send a powerful signal. The AfDB is a pillar of development on the continent, responsible for financing critical infrastructure, promoting economic integration, and shaping the future of Africa’s economy. It is also at the forefront of efforts to combat the disproportionate impact of poverty on women, and to expand their access to education, jobs and digital connectivity.
Were girls and young women to see someone who looks like them leading the AfDB, it would expand their vision of what is possible. It would shift mindsets—not just among women, but also among men—about who belongs in leadership roles.
The symbolic power of a woman president at the AfDB would ripple far beyond the bank’s headquarters in Abidjan. It would reach rural schools in Malawi, startup hubs in Nairobi, and parliamentary chambers in Abuja. For the millions of African girls growing up in societies where their ambitions are often curtailed by social expectations, this could offer thrilling evidence that change is possible.
Choosing a woman could also benefit the AfDB’s performance, because research consistently shows that diverse leadership leads to better outcomes, greater innovation, and more inclusive decision-making.
At a time when Africa’s people are clamouring for bold, inclusive, and transformative leadership, the shareholding nations of AfDB have a clear opportunity to answer that call with a historic election.
Amina Mohamed is former foreign minister of Kenya; Susana Malcorra is former foreign minister of Argentina and chief-of-staff to former UN Secretary General Ban ki-Moon. Together they are a board member and co-founder of GWL Voices, a global advocacy group of 76 women leaders from around the world who have held high-level positions in governments and international organizations.
