Sufian Ahmed, Minister of Finance and Economic Development (MoFED), is vying to be the President of the African Development Bank (AfDB) along with other eight candidates.
On February 20, AfDB has disclosed the name of the eight candidates to select one who will be successor of Dr. Donald Kaberuka, the current president of the bank.
The current president has severed the bank for two terms that has five years each.
According to the bank’s statement Rules of Procedure Governing the Election of the President of the AfDB (Article 1), as amended, require that the Bank hold the election of the President during the Annual Meeting closest to the end of the term of office of the serving President.
Accordingly, the Board of Governors will be electing Dr. Kaberuka’s successor on 28 May 2015, during the Bank’s Annual Meeting, scheduled to take place in Abidjan, Côte d’Ivoire.
Sufian, 57, serves as Minister of Finance and Economic development for over 15 years and he played a leading role to convince and secure finances for various development projects in the country from international financers including AfDB.
The current President, Dr. Donald Kaberuka, a national of Rwanda, was elected in July 2005, and commenced his first term on 1 September 2005. Following his re-election in May 2010, he commenced his last 5-year term on 1 September 2010.
The African Development Bank operates under the leadership of the President, who serves as the legal representative of the Bank, the Chairperson of the Board of Directors, and the Chief of Staff of the Bank. The President conducts the current business of the Bank, under the direction of the Board of Directors. The President is elected by the Board of Governors and serves a 5-year term, renewable once.