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African Development Bank Celebrates 60 Years of Transformative Impact in Africa Southern Region

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African Development Bank Celebrates 60 Years of Transformative Impact in Africa Southern Region:

The African Development Bank (AfDB) proudly celebrates its Diamond Jubilee, marking 60 years of driving social and economic transformation across the African continent. The Southern African regional celebration, held in Johannesburg, brought together leaders, stakeholders, and partners to reflect on the institution’s remarkable journey and its vision for a prosperous future.

Speaking at the event, Ms Leila Farah Mokaddem, Director General of the African Development Bank Group, highlighted the Bank’s legacy of impact and transformation. “Sixty years ago, the African Development Bank was born out of a vision for a better Africa. Today, we celebrate not just numbers but the lives transformed and communities uplifted through our work,” she said.

Key Achievements in Southern Africa

With an active portfolio of 226 projects worth USD 11 billion, the Bank’s unwavering commitment to fostering sustainable growth and integration in Southern Africa is evident. Notable achievements include:

  • SADC Sub-Regional Transport and Facilitation Project: A USD 231.3 million investment connecting Malawi and Mozambique, fostering trade, and mitigating regional fragility.
  • Lesotho Highlands Water Project: A USD 2.1 billion initiative enhancing water transfer and hydroelectric power, essential for energy security.
  • Kazungula Bridge Project: A USD 81.6 million investment strengthening connectivity between Zambia and Botswana along the North-South Corridor.
  • Support for Transnet: A recent USD 1 billion sovereign-guaranteed corporate loan to aid South Africa’s freight transport recovery and growth.

The celebration also underscored the deep partnership between the Bank and the Government of South Africa. Honourable Minister Enoch Godongwana shared his reflections on this enduring collaboration:

“The Government of the Republic of South Africa celebrates this significant milestone with the African Development Bank. Our region, and indeed South Africa, continues to enjoy a fruitful partnership with the Bank as we work together toward a shared goal of creating a better Africa for future generations.

As we gather to celebrate the many achievements of our collaborative efforts, we also recognise the need to continue advancing Africa’s development agenda. This milestone energises us and strengthens our commitment to a shared vision for the next 60 years!”

Looking Ahead: A Vision for the Future

As the Bank embarks on its new Ten-Year Strategy, it prioritises integrated regional projects and climate resilience. Projects like the Lobito Rail Integrated Corridor, connecting Angola, DRC, and Zambia, promise to drive economic growth, agriculture value chains and renewable energy investments.

“Our work is far from over,” Ms Mokaddem noted. “We invite all partners—governments, private sector actors, and international institutions—to join us in building a more inclusive and sustainable Africa. Together, we can address climate-related challenges and mobilise resources to ensure no one is left behind.”

A Commitment to Africa’s Development

Under the leadership of President Dr Akinwumi A. Adesina, the Bank has maintained its AAA rating and authorised capital of USD 318 billion, with nearly 2,000 staff serving all 54 African countries. The institution continues to champion its “High 5s” priorities: lighting up and powering Africa, feeding Africa, industrialising Africa, integrating Africa, and improving the quality of life for the people of Africa.

The 60th-anniversary celebrations are a testament to the Bank’s resilience and the enduring support of its partners. The African Development Bank remains steadfast in its mission to transform lives and catalyse growth across the continent.

To view our anniversary video that encapsulates these achievements and our vision for the future, please see below:

Per Kind Favour of APO

Africa Fact: In central Nigeria, West Africa’s oldest civilisation flourished between 1000 BC and 300 BC. Discovered in 1928, the ancient culture was called the Nok Civilisation, named after the village in which the early artefacts were discovered. Two modern scholars, declare that “[a]fter calibration, the period of Nok art spans from 1000 BC until 300 BC”. The site itself is much older going back as early as 4580 or 4290 BC.

– MyZA

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Ponte City: Transformation

As the “white flight” of the 1980s and 90s drained the inner city of capital, Ponte City underwent a dramatic and terrifying transformation. By the late 1990s, the building had become a “vertical slum” and a symbol of urban decay. It was famously “hijacked” by gangs; the retail levels were stripped, and the building became a fortress for drug dealing and human trafficking. The most haunting image from this era was the central core. Originally designed to be a light-filled courtyard, it became a literal trash heap. Residents on the upper floors would throw their refuse into the center of the building rather than taking it down. At its worst point, the trash in the core reached five stories high—a mountain of rotting debris, discarded furniture, and even, legend has it, the remains of those who had fallen or jumped.

During this period, the reputation of Ponte was so toxic that there was a serious proposal in 1998 to turn the entire skyscraper into a vertical prison. The plan was eventually scrapped, but the building remained a “no-go zone” for nearly a decade. The turnaround began in the mid-2000s when developers New Metro Property Group and later Dlala Nje began a massive, painstaking refurbishment. They cleared out the tons of trash from the core, restored the lifts (which had often been out of order, forcing residents to climb 50 flights of stairs), and implemented strict security protocols.