Boakai Lauds Adesina as Africa’s Most Trusted Development Ally

Liberian President Joseph Nyuma Boakai has praised Dr. Akinwumi Adesina, President of the African Development Bank (AfDB), describing him as a “trusted partner” and “champion for Africa’s development.” Boakai made the remarks during the official launch of Liberia’s Youth Entrepreneurship Investment Bank (YEIB) held at the EJS Ministerial Complex in Monrovia.

The ceremony, which also marked the nearing end of Adesina’s decade-long tenure as AfDB President, attracted high-level dignitaries and stakeholders from across the continent. Boakai commended Adesina’s remarkable leadership, highlighting the growth of the Bank’s capital base from $93 billion in 2015 to $318 billion in 2025.

“That’s not just progress. Boakai said, “That’s transformation,” stressing how Adesina’s leadership has changed how development finance works in Africa.

The opening of YEIB is a historic event because it is Africa’s first investment bank for young people. The AfDB gave the bank $16 million to start up. The bank’s goal is to help businesses run by young people by giving them mentorship, money, and training in important areas like agriculture, technology, and the creative economy.

“This initiative will shift young Liberians from job seekers to job creators,” Boakai noted, adding that it perfectly aligns with his administration’s ARREST Agenda—an acronym for Agriculture, Roads, Rule of Law, Education, Sanitation, and Tourism, which serves as his blueprint for national development.

In his address, Dr. Adesina said again that the AfDB is dedicated to giving young people power and promoting sustainable development. He drew parallels between the YEIB and the Bank’s “High5s” strategy: Light Up and Power Africa, Feed Africa, Industrialise Africa, Integrate Africa, and Improve the Quality of Life of Africans.

“Liberia is where the dream of the African Development Bank began,” Adesina reflected. “And today, we return to that dream—transformed, strengthened, and more determined than ever.”

Adesina also shared some of the Bank’s major achievements in Liberia under his leadership. These include the construction of 177 kilometres of roads, installation of 2,400 kilometres of energy transmission lines, expanded electricity access to 40,000 homes and institutions, and the training of over 100 young professionals.

He offered leadership advice drawn from his tenure, stressing the importance of accountability in government. “Ministers are not small Presidents,” he remarked. “They are enablers of the President’s vision. And if they don’t deliver, change the game plan.”

Adesina also urged Liberia to shift from raw material exports to value-added production, calling the latter a “highway to wealth,” a statement that earned resounding applause.

At the close of the event, President Boakai reiterated his administration’s focus on transparency, economic transformation, and youth empowerment. He dedicated a newly constructed model school building as a symbol of his government’s commitment to education and infrastructure development.

“Liberia must shine—for itself, for Africa, and for the black race,” Boakai declared.