By Sarah Baafi
A candidate for the African Development Bank (AfDB) presidency, Dr. Samuel Munzele Maimbo, has outlined a bold vision to redefine Africa’s development path.
In an interview on GTV’s Breakfast Show, Dr. Maimbo stressed the need for African countries to adopt homegrown strategies and leverage diverse financing sources, including private sector investments, to achieve sustainable growth.
Drawing from his experience at the World Bank, he argued that successful development hinges not on external institutions but on countries’ ability to craft and execute their own comprehensive plans.
Dr. Maimbo highlighted the AfDB’s critical role in advocating for Africa’s collective voice in global financial systems.
He proposed establishing an “Accra Club,” akin to the Paris Club, where African nations can collectively address debt challenges and negotiate better terms. Stressing the importance of regional integration, he pointed out inefficiencies like high shipping costs within Africa compared to exporting to Europe.
He called for urgent implementation of the African Continental Free Trade Agreement (AfCFTA), noting that reducing tariffs and improving infrastructure would unlock significant trade potential.
He shared his success in streamlining bureaucratic processes during his career, advocating for similar reforms in public-private partnerships and customs agreements. By removing outdated regulations and fostering domestic private sector growth, he envisions a more dynamic economic environment.
His leadership would prioritise actionable steps over prolonged negotiations, using data-driven approaches to demonstrate the tangible benefits of regional cooperation.
Dr. Maimbo aims to shift Africa’s narrative from potential to progress, ensuring that development is both sustainable and impactful across the continent.
