“To be free is not only to get rid of one's chains; it is to live in a way that respects and enhances the freedom of others.

(Nelson Mandela)

For some time now, the African Development Bank (AfDB) has been going through a moment of turbulence. The moment, let's say it, is inopportune when we know the current difficulties of African countries. The AfDB is, however, an institution that remains an essential link in the development process of African countries. Founded in 1964, the AfDB is Africa's premier development finance institution and one of the top five multilateral development banks in the world. The African Development Bank (AfDB) Group's primary objective is to reduce poverty in its regional member countries by contributing to their sustainable economic development and social progress. To this end, it mobilizes resources to promote investment in these countries and provides them with technical assistance and advice on the policies to be implemented. Since 2015, like all multilateral development banks, the AfDB has intended to pursue common objectives, known as the Sustainable Development Goals (SDGs). But now, to finance development projects, resources must be mobilized. However, the mobilization of resources requires the credibility of the borrowing entity. From this point of view, the recent attacks against the president of the ADB do not militate in favor of the integrity of the pan-African bank. In this contribution, we support the idea of an independent commission of inquiry, as the way to preserve the integrity of the pan-African bank. To do this, we recall, first of all, the creation of the institution. Secondly, we present the conflicting situation that prevails and the reasons. Finally, thirdly, we encourage the idea of the independent commission of inquiry, as the solution to the crisis.

1. The creation of the African Development Bank

The agreement establishing the AfDB was signed on August 4, 1963 by 27 African finance ministers meeting for this purpose in Khartoum, Sudan. It was submitted for ratification by the independent African States and its entry into force took place on September 10, 1964, the official date of the birth of the Bank with the subscription of two thirds of the initial capital (250 million units of account). The constituent assembly could then be held from November 4 to 7, 1964 in Lagos, Nigeria. But Ragnar Nurkse's formula that “a country is poor because it is poor” reflects the common idea: underdevelopment is a vicious circle. Indeed, savings are insufficient because the income is low; this is low because the increase in production runs up against the imperfections of the market, the lack of capital, the absence of incentives for investment. In this case, initiating development, financing economic transition, such is the main problem, until domestic savings reach a sufficient level and growth is self-sustaining. It follows that development then becomes a promise of financing. The mass is said because in the case of the ADB, the low resources of the member countries oblige it to open its capital to non-regional countries (NRP) which were not satisfied with their participation in the African Development Fund (ADF, created in 1972). They brought money without political counterpart (without participation in decision-making). Following heated debates, the opening of the capital was decided in Libreville, Gabon, in 1978, and finally approved in Lomé, Togo, in 1981. The Bank's capital rose from 2.38 to 5.25 billion d UC (+120%) with the entry of 17 PNRs, on December 30, 1982. Today, the share of the 26 PNRs is 40%, for a bank capital of 93 billion dollars. The AfDB has 80 shareholder countries (54 African countries and 26 from Europe, America and Asia). The current President of the AfDB is Mr. Akinwumi Adesina, former Nigerian Minister of Agriculture and Rural Development, 8th President of the African Development Bank, since May 28, 2015.

2. The observation and the reasons for the crisis within the AfDB

The AfDB, one of the top five multilateral development banks in the world, has been the subject of a series of embarrassing accusations since the start of the year, leaked to the press in April 2020. In an open letter dated May 30, a "group of African staff members of the AfDB" harshly criticized the management of the president of the institution, accusing him of "mystification and smoke-screening", that is to say of communicating more than acting, and to have "weakened" the Bank. Better still, the employees alerted the Governors of the Bank to “unethical” behavior and preferential treatment within the Pan-African institution. Akinwumi Adesina, this brilliant economist and former Minister of Agriculture of Nigeria (2011-2015) finds himself accused by a section of the staff of favoritism for the benefit of close compatriots and of "unethical" behavior. Suspicions also relate to cases of “violation of the code of conduct” and “hindering of efficiency (…) affecting confidence in the integrity” of the Bank. For a former executive close to the president, Adesina has made no secret of his desire to “Nigerianize” the AfDB by entrusting key posts to compatriots, but also by granting lines of credit more easily to leading Nigerian companies. For other executives, it is a false trial because proportionally to its capital shares, Nigeria [9.33%] is under-represented among AfDB staff. Conversely, France [3.7%] has many employees. In any case, on January 19, 2020, bank executives filed a complaint and forwarded to the Bank's Integrity and Anti-Corruption Department an eleven-page document detailing sixteen cases of alleged abuse, sometimes involving President Adesina directly. Allegations "examined by the Board of Governors of the AfDB". In 2016, when an internal audit was requested to shed light on a case concerning one of his collaborators, President Adesina allegedly, according to whistleblowers, allowed his collaborator to resign and enjoy "significant severance pay ". In October 2019, a Zambian executive who allegedly fraudulently awarded two $18 million contracts to Russian and American companies in 2016 was promoted. Obviously, this is a blatant case of impunity that leaves one perplexed. The internal investigation could not stop the attacks against the AfDB President. According to the whistleblowers, staffers close to the president worked to sabotage all attempts by the ethics committee to carry out their duties. Indeed, Akinwumi Adesina was cleared by the institution's ethics commission. On May 5, 2020, the internal investigation opened made it possible to close the case, the commission having deemed the evidence insufficient. But the president is not finished with the troubles because this conclusion is not unanimous.

3. The independence inquiry as a solution to the crisis

The African Development Bank (AfDB) announced, on June 4, 2020, the launch of an independent investigation into the accusations of malpractice against its president. The pan-African development institution, which is based in Abidjan, finally yielded to the justified demand of the United States, dissatisfied with the internal investigation which had completely exonerated the Nigerian from serious accusations formulated by a group of "whistleblowers ". Considering the extent, seriousness and specificity of the allegations against the only candidate for the Bank's leadership for the next five years, it was important to conduct a more thorough investigation so that the President of the AfDB enjoys the support and confidence complete with shareholders. For us, there is no need to talk about a war of influence between the first shareholder, Nigeria, and the second, the United States. The AfDB has announced a “125%” increase in capital which will rise “from 93 to 208 billion dollars” over ten years, “from 2020 to 2030”. We all know that this capital increase will provide a lot of resources to the AfDB to enable it to finance the development of our continent. In addition, the election of the new president is scheduled for the end of August 2020. The AfDB is a powerful financier for many African countries and private companies investing in member countries of the region. Its priorities are the fight against poverty, the improvement of the living conditions of the African populations and the mobilization of resources for the economic and social progress of the African member countries. In view of all these assets, African countries must do everything to preserve the integrity of the Pan-African bank. And this goes through an independent commission of inquiry, which, we hope, will clear President Akinwumi Adesina.