AfDB President, Akinwumi Adesina’s Acceptance Speech

Speech by Dr. Akinwumi A. Adesina
President and Chairman of the Boards of Directors, African Development Bank Group, At the State House Event on the Conferment of the Chief of the Order of Golden Heart, C.G.H, State House, Nairobi, Kenya, March 17, 2025.

Your Excellency, Dr. William Samoei Ruto, President of the Republic of Kenya, C.G.H.

Your Excellency, Professor Kithure Kindiki, Deputy President of the Republic of Kenya.

Honorable Musalia Mudavadi, Prime Cabinet Secretary,
Honorable Cabinet Secretaries,
Distinguished Ladies and Gentlemen.

Good morning! Habari za Azubuhi.

Your Excellency, President Ruto, I am most grateful for your conferring on me today the prestigious honor of the Chief of the Order of Golden Heart, C.G.H, Kenya’s highest and most distinguished honor.

I am greatly humbled by your incredible kindness!

What a great honor! What a rare privilege! What a historic recognition!

Thank you, thank you, and thank you, Your Excellency, Mr. President.

It is such a joy to be back here, with my dear wife Grace, in Kenya, a nation that I love, and to be in the State House, with a President who is a dear brother and friend. They say home is where your heart will always be.

I consider Kenya as my home. Afterall, I lived and worked here in this beautiful country for about 9 years, starting from my days working with the Rockefeller Foundation and the Alliance for Green Revolution in Africa (AGRA). I have been back ever since, so I can claim to have been working in and on Kenya for at least 20 years.

The friendship between myself and President Ruto goes way back over those 20 years. As we say in Kenya, “Tumetoka Mbali” – we have come from far.”
Yes, we have come from far since Mr. President you were a much younger Minister of Agriculture, under the then government of President Mwai Kibaki. Your predecessor, former President Kenyatta, was then the Deputy Prime Minister and Minister of Finance.

I recall the very frequent and engaging discussions between us on how to improve the quality of lives of Kenyans. From seminars to workshops and conferences, we engaged intensely. I was not just working in Kenya, I was a Kenyan by mind, heart and soul, as I immersed myself in Kenya.

I remember that when I was later appointed as the Minister of agriculture in Nigeria, I came along with President Goodluck Jonathan on a State visit to Kenya. President Kenyatta and yourself, as then Deputy President, received us at the Jomo Kenyatta airport. As President Jonathan was making introductions of his ministers and got to me, he introduced me as “Minister of Agriculture of Nigeria.” President Kenyatta said “Yes, I know him. He is the Kenyan on loan to the Nigerian government!” We all busted out laughing (Laugh).

Of course, he was right, for even when I was appointed Nigeria’s Minister of Agriculture, I appointed Maria Mulindi, a Kenyan, as my Chief of Staff.

I worked everywhere in Kenya and have such great memories. From my praying and preaching at the Nairobi Pentecostal Church Valley Road (with Bishop Boniface Adoyo, Bishop Oginde and many others) to small family prayer groups with my Kenyan friends, to working with farmers and schools across Kenya.

From working with a friend of mine (Robert Mbugua) speaking across high schools to encourage and inspire the youth, to supporting research institutions including the Kenyan Agricultural Research Institute, the African Economic Research Consortium (with Dr. Harris Mule and Prof. Willis Oluoch-Kosura, Prof Chris Ackello Ogutu and Dr. Gem Argwings-Kodhek), to working with corporate giants such as Chris Kirubi who owned the International House, and Vimal Shah, of BIDCO Oil Refineries.

From working to support girls education with the Forum for Women Educationalists in Africa (with Dr. Edda Gachukia and Dr. Ruth Kagia) to working to improve the lives of farmers across the farms from Bungoma, to Eldoret, Kisi, and across the Rift Valley.
From working with the Kenyan Agricultural Research Institute (KARI) to develop new technologies, to working on the farms in Muranga with Dr. Florence Wambugu, to scale up the uptake of tissue culture bananas by farmers.

I recall my work launching the development of agro-dealer networks across Kenya (with Dr. Caleb Wangia of the Agricultural Market Development Trust (AGMARK), as we rapidly expanded availability of farm input traders across Kenya.

I was so driven and so much wanted things to change positively for Kenyans. I was very concerned then about the millions of poor farmers in Kenya who were begging for food and had no access to seeds or fertilizers. I wanted to see a national program to provide subsidized seeds and fertilizers for poor farmers across Kenya.
The then PS of agriculture, Dr. Romano Kiome, and then Minister of Agriculture, Kipruto Arap Kirwa, became allies and agreed.

But it was not a popular move. Several donors were unhappy with me at the time for trying to push for subsidies for farmers, including my own office, The Rockefeller Foundation. I was even told that if I did not back off, I could lose my job. I was undeterred, as I said, “if trying to help poor people is the reason for losing my job, I cannot think of a more honorable way to lose a job: fighting for the poor.”

I recall going to one meeting of donors at the time to push for this, and as soon I raised the issue, the chair of the session (a Kenyan who worked then for the World Bank by the name Daniel) simply said, “next agenda item please.” I retorted that “if I had been the Minister of Foreign Affairs, I would have sent you all packing for spending your time on beaches and not even having a heart for the poor people in Kenya.”

When William Ruto was appointed as the agriculture minister, I asked for a meeting. You need to know something about this man, then Minister Ruto, now President Ruto: he is a man of action. He is relentless. And he will push until he gets things done. He did not wait for me to visit with him at the Kilimo House, he made his way to my office, and we met at 7.30 am. That was how we developed and rolled out the Kilimo Plus program to provide subsidized farm inputs for over 2.5 million poor farmers in the country.

I recall while at AGRA how I developed and rolled out the Kilimo Biashara program, which provided financial guarantee facilities that reduced the risk of lending by commercial banks in Kenya to farmers. It worked so well that it supported Banks such as the Equity Bank (working with James Mwangi) to rapidly expand their lending to the agriculture sector, from its humble beginning, to becoming what it is today, of which I am very proud.

I recall my work with Kenyan colleagues as we developed at the time what was called the Kenyan Agricultural Commodity Exchange (with Adrian Mukhibi, Albert Wessonga) to provide market price information for farmers in the country, using their mobile phones. I remember our working with the Mayor of Bungoma at the time to set up the commodity exchange in Chewele market so farmers could bulk their maize and sell based on grade and quality at the exchange, working at the time with SACRED Africa, an NGO based in Bungoma (with Dr. Eusebius Mukhwana, who later became a Senator).

It worked so well, as middlemen could not rip off farmers anymore. In fact, it worked so well, that some disgruntled middlemen vandalized some of the commodity exchange Kiosks. One day, Mr. Kofi Annan, then former United Nations Secretary General, who was at the time the Chairman of the Board of AGRA, visited Chewele. He was so amazed, as he used his mobile phone to make orders via the exchange; he turned to me and said, “this is the Chicago Board of Exchange in a village in Kenya.”

I tried so hard to be Kenyan, so much so that I started running in the Jaffrey Center, early mornings and weekends. If only I could run like those long-distance runners of Kenya, maybe I could become a Kenyan! I failed, as I could not keep up with them. So, I told myself, let me just stick with being a Nigerian, at least I know that Nigeria can always defeat Kenya in football.

As President of the African Development Bank, I am proud that my colleagues and I have been running with Kenya and scoring development goals with Kenya. Kenya has a special place in the history of the African Development Bank since its establishment in 1964. The very first project ever financed by the African Development Bank was right here in Kenya in 1967, that’s 58 years ago.
The first one links Eldoret to Tororo in Uganda, laying the foundation for a transport infrastructure that drives commerce between countries of the Great Lakes and the Indian Ocean regions. The second road, which connects Nairobi to Kilimanjaro region in Tanzania, has become a major trunk road for commerce and tourism between both countries.
Since 1964, the Bank has financed a total of 167 projects, with financial commitment of $7.8 billion.

But I am especially proud of what we have done in and for Kenya over the past ten years since I was first elected President of the African Development Bank in 2015. Since I was elected President, the Bank has financed a total of 57 projects, with total financing commitment of $4.44 billion. That means we did in the past ten years (under my Presidency) 57% of all the African Development Bank has invested in Kenya for over the past 60 years!

That must tell you how special Kenya is to me!

The African Development Bank’s current portfolio consists of 45 projects worth $4.09 billion. And these projects are having huge impacts across Kenya.

For example, the Bank-supported Last-Mile Connectivity electricity project has helped to increase the population of Kenyans connected to the national electricity grid from 41% in 2014 to 76% in 2024. Put simply, electricity connections increased from 2.42 million households to 9.7 million households.

Many of you may not know that the Bank made this happen. You are not alone! On one of my field trips to the Rift Valley together with Cabinet Secretary minister at the time, Charles Keter, we walked down a dusty road in one of the villages that benefited from the last mile connectivity project. Right in front of us was an elderly woman whose name was Grace (not Grace, my wife!). She was asked by the Cabinet Secretary if she knows that the African Development Bank funded the connection of her village and household to electricity. She said, “I do not know the African Development Bank.” When further asked if she knows Dr. Adesina, President of the African Development Bank. She said “No, I do not know him, where is he?” Of course, I was beside her! She then said, “all I know is that we once were in darkness, now we have light!” (laugh).

With Kenya participating in the Mission 300 launched by the African Development Bank and the World Bank to connect 300 million people to electricity by 2030, Kenya is definitely on course to achieving 100% access to electricity by 2030. Ninaamini Tutatoboa!

The African Development Bank financed and was the Mandated Lead Arranger for the 310 megawatts Lake Turkana Project, which is the largest wind farm in Africa. The Bank also financed the 105 megawatts Menengai Geothermal power plant, further advancing Kenya’s leadership in geothermal development in Africa. For power transmission, the Bank provided $105.5 million for the recently completed Ethiopia-Kenya electricity highway project.

The African Development Bank is supporting several road and transport projects that are improving regional connectivity, trade and reducing travel costs for the population. Let me mention a few.
Take for example, right here in Nairobi, the Bank provided $106.7 million for the rehabilitation of the 13 kilometers Nairobi Outer Ring Road, turning it from a single lane to a dual carriageway, including service roads, grade separated intersections, pedestrian foot over-bridges, walkways and bicycle lanes, while providing secondary access to the Jomo Kenyatta International Airport.

The Bank co-financed with $175 million the expansion of the Thika-Nairobi road, expanding it into a six and eight lane highway. This has drastically reduced travel time from 2-3 hours to just 30-45 minutes.
The Bank has approved $852 million for on-going regional integration operations in Kenya. This includes the Bagamoyo-Tanga-Horohoro-/Lunga-Malindi road connecting Kenya and Tanzania. We are supporting the Kapchorwa-Suam-Kitale road project connecting Kenya and Uganda, as well as the Lesseru-Kitale roads project connecting Kenya and South Sudan.

The Bank financed the construction of the Addis-Ababa-Nairobi-Mombasa Highway that has reduced the travel time between Ethiopia and Kenya from 3 days to less than 24 hours and has helped to expand the trade between the two countries by 400%.

The Bank co-financed the dualization of the 84 kilometers Kenol-Sagna-Marua Highway, part of the Kenya section of the Trans-Africa Highway running from Cape to Cairo. Our support of $31million for the Timboroa-Eldoret Road Rehabilitation Project, part of the Northern Corridor, provides transit routes connecting Kenya, Uganda, Rwanda, Burundi, Eastern Congo and Southern Sudan.

President Ruto is passionate also about water and sanitation. When I visited with him in May, when Kenya graciously hosted the Bank’s Annual Meetings in 2024, he passionately requested the Bank’s expanded support for water and sanitation. Mr. President, I am pleased that the Bank is providing $634 million towards the Kenya Town’s Sustainable Water Supply and Sanitation. This includes Euros 314.92 million for the construction of the Thwake Multipurpose Water Dam, expected to be completed by July 2026. When completed it will provide 150,000 cubic meters of water per day to about 1.3 million people in Kitui and Makueni counties, as well as the Konza Techno-City in Machakos County.

The Bank is strongly supporting the private sector in Kenya. This includes the provision of over $700 million in lines of credit to more than 8 commercial banks, including Equity Bank Group, Kenya Commercial Bank, Diamond Trust Bank, Credit Bank, Commercial Bank of Africa, Family Bank and the Kenyan Mortgage Refinance Company.

I know that Kenya faces a huge challenge with high unemployment for its youth, as manifested in several youth riots that shook Kenya. Unemployment is especially high among Kenya’s well-educated youth. They demand support for skills upgrade, finance to build their businesses, and social protection, as well as inclusion in governance systems.

To support the youth of Kenya, the African Development Bank is providing $309 million for 8 on-going projects targeting skills development for the youth. This includes support for technical and vocational education that has already benefitted 88,000 trainees.

The African Development Bank’s flagship program in support of financing for women, the Affirmative Finance Action for Women in Africa (AFAWA) has provided a total of $177 million in loans for 3,177 women-owned businesses.

One of such young women entrepreneurs is Pauline Otila, the CEO of Apiculture Ventures, one of the fastest growing businesses in Kenya’s honey industry. With support received from AFAWA, right here in Kenya, Pauline has tripled her business and grew her beekeepers’ supply network from 1,200 to 10,000 beekeepers. Today, Pauline is one of the leaders in Kenya’s male-dominated beekeeping industry, showing how when women are supported they thrive. In her own words “women are bankable, if given a chance.”

I fully agree. No bird can fly with one wing. I am convinced that when women win, Kenya wins! When women win, Africa wins!
Yes, challenges may be there today, but let’s keep hope alive.

Kenya will grow. Kenya will thrive. Kenya will prosper.

I believe the future will be bright for the youth of Kenya!

That is why the African Development Bank is currently preparing for our Board’s approval, financial support to Kenya, for the establishment of Youth Entrepreneurship Investment Bank of Kenya. This will be a stand-alone financial institution, that will be 100% dedicated to providing technical assistance, debt and equity financing for the businesses of the youth of Kenya. When I earlier discussed this with President Ruto, as we both were at an airport lounge in Dubai, both of us coming from different tips, he said to me “Adesina. I want this in Kenya like yesterday.” And true to his words, within 48 hours, I received a formal letter of request from President Ruto for the African Development Bank to support the establishment of the Youth Entrepreneurship Investment Bank of Kenya.

To the youths of Kenya, you are not alone. The African Development Bank and our partners will work to boost opportunities for the youth in Kenya. Working with President Ruto and the Government of Kenya, the goal is simple: build youth-based wealth in Kenya.

So, as you can see, my heart has always been in Kenya. I am therefore immensely honored that President Ruto, you are conferring on me Kenya’s highest and most distinguished honor, the Chief of the Order of the Golden Heart, CGH. My heart is here, but you made it even better: you added Gold to my Heart!

Thank you President Ruto. Thank you, Kenya!

This an honor that I will cherish for life. It will be a constant reminder that the country I love so much, Kenya, loves me back, appreciates and celebrates my leadership at the African Development Bank, and values and honors the incredible contributions of the Bank to its development.

On behalf of my dear wife, Grace, the Board of Directors, Management and Staff of the African Development Bank, and on my own behalf, I accept this honor with great humility.

May God bless you, my dear brother, President Ruto.

Asante Sana Mheshimiwa Rais Ruto.

May God bless the good people of Kenya.

Mungu aibariki Kenya.

God bless Africa.

Mungu aibariki Afrika.

With all my heart, now the Golden Heart!

Thank you so very much.

Asante Sana!