President Kagame discusses partnership with outgoing AfDB president

President Paul Kagame, on Wednesday, June 25, at Urugwiro Village, received Dr. Akinwumi Adesina, the outgoing President of the African Development Bank Group, who is in Rwanda for the 28th Annual Conference on Global Economic Analysis. According to the Office of the President, their discussion focused on the fruitful partnership between Rwanda and the African Development Bank, and the successful collaboration across key economic sectors under Dr. Adesina’s leadership. Adesina, who was first elected President of the AfDB on May 28, 2015, and re-elected in 2020, reflected on what he described

President Paul Kagame, on Wednesday, June 25, at Urugwiro Village, received Dr. Akinwumi Adesina, the outgoing President of the African Development Bank Group, who is in Rwanda for the 28th Annual Conference on Global Economic Analysis. According to the Office of the President, their discussion focused on the fruitful partnership between Rwanda and the African Development Bank, and the successful collaboration across key economic sectors under Dr. Adesina’s leadership. Adesina, who was first elected President of the AfDB on May 28, 2015, and re-elected in 2020, reflected on what he described as a mission-driven decade of transformation. Under his leadership, the Bank’s capital increased from $93 billion in 2015 to $318 billion in 2024—an achievement he described as "unprecedented." He also led efforts to raise $8.9 billion for the 16th replenishment of the African Development Fund. Recently, Sidi Ould Tah of Mauritania was elected as the new President of the African Development Bank Group. The announcement was made during the Bank’s Annual Meetings in Abidjan, Côte d’Ivoire. According to the African Development Bank Group, Tah will succeed President Dr. Akinwumi Adesina, whose second term ends this year. Tah is set to begin a five-year term. Rwanda recorded a robust economic growth rate of 8.9 percent in 2024 but still faces an annual financing gap of $2.9 billion to implement its national development goals, according to a new AfDB report. On June 25, 2025, the African Development Bank approved a grant of $500,000 to fund a feasibility study for the first phase of a cable car transport network in Kigali, which will be sub-Saharan Africa’s first aerial urban transit system. The funds, to be sourced from the Bank Group’s Urban and Municipal Development Fund, are expected to support the Kigali Urban Cable Car Projecta 5.5 km mobility initiative valued at $100 million. The project aims to ease the city’s traffic congestion, reduce greenhouse gas emissions, and connect underserved communities to jobs and essential services. Construction is expected to begin in late 2026, with commissioning scheduled for 2028. Once complete, the cable car will transport over 50,000 passengers per day on a 15-minute end-to-end journey, integrated into the city’s existing transport infrastructure. Phase 1 of the project will comprise two critical transit corridors: from Nyabugogo Taxi Park to the Central Business District (CBD) Hub, and from the Kigali Convention Center to Kigali Sports City. The network will connect key public landmarks such as Amahoro Stadium, BK Arena, and the newly developed Zaria Court.