SADC backs Samuel Munzele Maimbo for AfDB presidency

African Heads of State and Government in the regional body, SADC, have endorsed Zambian national Samuel Munzele Maimbo, as the preferred candidate for the position of the African Development Bank (AfDB) Group’s president.

The endorsement was made during the 44th Ordinary SADC Summit of Heads of States and Government in Harare, Zimbabwe on 17 August 2024.

Elected by the Board of Governors, on the recommendation of the Board of Directors, the AfDB President is the Chief Executive and conducts the business of the Bank. The President is also the legal representative of the Bank.

Maimbo is currently the Vice President for Budget, Performance Review, and Strategic Planning at the World Bank Group, a position he has occupied since July 2023. In this role, he oversees the World Bank’s annual Programme Budget and All Funds, including the administrative budget for Bank Budget (BB) funds, Trust Funds, and Reimbursable Funds, ensuring that resources are aligned with the institution’s strategic priorities, financial sustainability objectives, efficiency targets and business needs.

Prior to joining the World Bank, Maimbo held the position of Auditor at PricewaterhouseCoopers and Bank Inspector at the Bank of Zambia.

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The Zambian has served as the top advisor to the World Bank’s senior management team on resource management allocation, leads the financial planning and performance review process for the institution’s multi-year Strategy and Business Outlook, and ensures the institution operates within budget.

Maimbo has nearly thirty years of experience in development, financial markets, resource mobilization and strategic planning.

Prior to his current position, he served as the Chief of Staff to World Bank Presidents. He also served as the Director of the International Development Association (IDA) Resource Mobilization and International Bank for Reconstruction and Development (IBRD) Corporate Finance department for just over two years, where he was responsible for the implementation of IDA’s hybrid financial model and the policy analysis of IBRD income and corporate finance.

In the past 23 years at the World Bank, Dr. Maimbo has held several positions, including Senior Advisor in the Office of the Managing Director and Chief Financial Officer.

He also served as Financial Sector Specialist in three regions, including South Asia, sub-Saharan Africa, and Europe and Central Asia.