This year, the African Development Bank celebrated its Diamond Jubilee with events held across the continent, marking six decades of driving social and economic advancement in Africa. The regional celebration in Southern Africa took place in Johannesburg in December, bringing together leaders, stakeholders, and partners to reflect on the institution’s accomplishments and its future aspirations. This event not only showcased the Bank’s contributions to Africa’s development but also offered officials a platform to reaffirm their dedication to promoting progress in the region.

Leila Farah Mokaddem, Director General of the African Development Bank Group, highlighted the Bank’s enduring legacy during the event.

“Sixty years ago, the African Development Bank was born from a vision for a more prosperous Africa. Today, we celebrate not just our achievements, but the lives transformed and communities uplifted as a result of our work,” she declared.

The Bank has undertaken 226 projects in the region, investing over $11 billion in Southern Africa. Among its key initiatives are the SADC Sub-Regional Transport and Facilitation Project, a $231.3 million effort to connect Malawi and Mozambique, enhancing trade and reducing regional vulnerabilities. The Lesotho Highlands Water Project, valued at $2.1 billion, has improved water supply and hydroelectric power, addressing critical energy security needs. The Kazungula Bridge Project, which received $81.6 million in support from the Bank, has enhanced connectivity between Zambia and Botswana along the North-South Corridor. Additionally, the Bank has recently approved a $1 billion sovereign-backed corporate loan to Transnet to support the recovery and expansion of South Africa’s freight transport sector.

South Africa’s Minister of Finance, Enoch Godongwana, who was also present at the ceremony, reflected on the Bank’s influence in the region and the collaboration between his country and the African Development Bank. “The Government of the Republic of South Africa celebrates this significant occasion with the African Development Bank. Our region, and particularly South Africa, continues to experience the benefits of a fruitful partnership with the Bank as we work together to foster a better Africa for future generations,” he stated.

Looking forward, Godongwana remarked, “As we gather to honor our many shared successes, we also recognize the necessity of advancing Africa’s development agenda. This milestone energizes us and reinforces our commitment to a collective vision for the next 60 years!”

Mokaddem echoed Godongwana’s message, inviting all partners—including governments, private sector leaders, and international organizations—to collaborate with the Bank in building a more inclusive and sustainable Africa. “Our mission is far from over,” she stated, emphasizing that “together, we can address climate-related challenges and mobilize resources to ensure that nobody is left behind.”

Through its new Ten-Year Strategy, the African Development Bank aims to focus on integrated regional projects and climate resilience. Initiatives like the Lobito Rail Integrated Corridor, which connects Angola, the Democratic Republic of Congo, and Zambia, are set to foster economic growth, enhance agricultural value chains, and promote investments in renewable energy.

As the largest development finance institution in Africa, with authorized capital of $318 billion and a Triple A credit rating, the African Development Bank plays a vital role in supporting African nations, strengthening their economies through interventions in agriculture, manufacturing, energy, infrastructure, trade, health, education, and other social services. The Bank is also at the forefront of climate action, channeling investments to assist member countries in achieving their climate objectives.