Maimbo Gains Regional Support for AfDB Presidency Climate Agenda
Maimbo aims to mobilise $25 billion annually for renewable energy projects to serve 600 million Africans lacking electricity while addressing the continent's debt crisis.
ADDIS ABABA, Ethiopia— Dr. Samuel Munzele Maimbo has secured endorsements from two major African economic blocs for his African Development Bank presidential bid, bolstering his climate-focused campaign, write AfricaBrief & Distory.
The Zambian economist received backing from both the Southern African Development Community and the Common Market for Eastern and Southern Africa, according to an exclusive interview with Africa Briefs.
"My strategy on climate is we do better on anticipating," Maimbo said, emphasising his plan to address Africa's $1.3 trillion annual climate finance needs, far exceeding the $300 billion commitment from developed nations.
Maimbo proposes creating a continent-wide disaster risk fund to help nations access emergency financing without increasing debt burdens.
"The disaster risk financing is one I will invest in," he said, advocating for insurance-backed climate finance models.
The former World Bank official faces competition from four candidates, including Senegal's Hassatou N'Sele and Amadou Hott, Cape Verde's Cristina Duarte, and Mauritania's Sidi Ould Tah.
Maimbo aims to mobilise $25 billion annually for renewable energy projects to serve 600 million Africans lacking electricity while addressing the continent's debt crisis.
"This is Africa's moment to set the agenda—not just follow it," he said.