African Development Bank Marks 60 Years of Impact and Partnership in Africa. The African Development Bank (AfDB) celebrated its 60th anniversary yesterday, marking six decades of fostering economic and social progress across the continent. The commemorative event, held in Gaborone, was officiated by Botswana’s Vice President and Minister of Finance, Mr. Ndaba N. Gaolathe.
Founded in September 1964, the AfDB has played a central role in supporting infrastructure development, financial inclusion, and sustainable growth throughout Africa. In his address, Vice President Gaolathe praised the Bank’s continued commitment to the continent’s development, with particular recognition of its recent efforts to shape a unified African strategy for critical minerals.
He further acknowledged the Bank’s bold proposal for a Critical Minerals-Backed African Currency, noting it as a signal of intent for Africa to take full ownership of its natural resources, policies, and long-term vision. “The Bank’s message is clear,” Gaolathe said, “Africa must be the custodian of its own wealth and future.”
Representing the AfDB, Deputy Director General for Southern Africa and Country Manager for Botswana, Ms. Moono Mupotola, reiterated the institution’s dedication to supporting Botswana’s national priorities. These include economic diversification, job creation, industrial growth through manufacturing and value addition, expanded trade, and modernized agriculture for enhanced food security.
As the AfDB marks this milestone, the celebration served as a moment of reflection on the Bank’s historical achievements and its ongoing role as a key development partner to African nations. With continued collaboration between governments and financial institutions like the AfDB, the vision for a self-reliant and economically empowered Africa remains within reach.
