Abidjan, Côte D’ivoire – Uganda’s Minister of State for General Duties at the Ministry of Finance, Hon. Henry Musasizi, represented Finance Minister Matia Kasaija at the 60th Annual Meeting of the African Development Bank (AfDB) and the 51st Meeting of the African Development Fund, held from May 26 to 29, 2025, in Abidjan, Côte d’Ivoire.
Held under the theme “Making Africa’s Capital Work Better for Africa’s Development,” the meetings brought together finance ministers, central bank governors, development partners, and private sector actors from across the continent to discuss Africa’s economic transformation strategies.
In his address, Hon. Musasizi emphasised Uganda’s ambition to achieve ten-fold economic growth through its ATMS strategy—Agro-industrialisation, Tourism, Mineral-Based Industrial Development (including Oil and Gas), and Science, Technology and Innovation (including ICT and the Creative Industry). He further outlined key enablers of this transformation: infrastructure, irrigation, industrial park development, human capital investment, and affordable credit for the private sector.
“Uganda’s transformation agenda is strongly aligned with the Bank’s High 5s and strategic direction. We call upon the Bank to continue supporting our ATMS strategy and its enablers,” said Hon. Musasizi.
The minister also extended heartfelt appreciation to Dr. Akinwumi A. Adesina, the outgoing AfDB President, for his decade-long leadership and support to Uganda. “We thank Dr Adesina for his visionary leadership over the last 10 years and the critical support extended to Uganda during his tenure,” he noted.
Uganda currently has 20 active projects with the AfDB, valued at USD 2.12 billion (UA 1.6 billion). The Integrated Transport Infrastructure Services Program dominates Uganda’s AfDB portfolio, accounting for projects worth USD 1.6 billion (UA 1.2 billion).
The Abidjan meetings also marked a milestone in the Bank’s governance, as member states elected a new president. Mr. Sidi Ould Tah of Mauritania, former head of the Arab Bank for Economic Development in Africa (BADEA), was elected President of the AfDB. He will assume office on August 1, 2025, for a five-year term.
On the sidelines of the meetings, Hon. Musasizi met with Ugandan professionals working at AfDB, recognising the 78 Ugandan nationals currently serving in various capacities within the institution. “We are proud of our nationals at the Bank. They are playing a vital role in Africa’s development and serve as Uganda’s ambassadors of excellence,” he said.
The annual meetings concluded with renewed calls for leveraging Africa’s capital for inclusive, sustainable growth across the continent.