ABIDJAN, Côte d’Ivoire – Minister of Finance and Development Planning, Augustine Ngafuan, has been elected Chair of Constituency 15 of the African Development Bank (AfDB), a regional bloc within the Bank.
By Jaheim [email protected]
The Constituency, made up of Liberia, Ghana, The Gambia, Sierra Leone, and Sudan, plays a strategic role in shaping financial governance, regional integration, and development financing within the AfDB framework.
The election, which took place during the 2025 Constituency Annual Meetings on the margins of the AfDB Annual Meetings in Abidjan, hands Liberia a pivotal leadership seat at the continental financial institution.
Minister Ngafuan will formally assume the role on August 1, 2025, replacing Sierra Leone’s Finance Minister, Sheku A.F. Bangura, whose tenure ends this year.
The development marks a continued rise in regional influence for Liberia’s top fiscal authority. Ngafuan is currently serving as Chairperson of the AfDB Board of Governors’ Standing Committee on Conditions of Service for Elected Officers—a position he secured during the IMF/World Bank Spring Meetings in Washington, DC, in April.
Ngafuan’s rise coincides with the end of a widely commended tenure by Rufus N. Darkortey, Liberia’s outgoing Executive Director at the AfDB for Constituency 15.
Darkortey will vacate his post on August 1, wrapping up a tenure that many insiders say elevated the voice and visibility of the Constituency at the highest levels of Bank decision-making.
He expressed gratitude to member states and paid tribute to former President George Weah and President Joseph Boakai for their trust and support.
“Over the past three years, your confidence elevated our constituency’s voice in the governance and programming of the Bank. Your collective leadership redefined what is possible when countries act in unity.”
“I remain grateful for the trust reposed in me by two administrations committed to Africa’s progress,” Darkortey noted.
Under his leadership, Constituency 15 reportedly enhanced its policymaking influence, sharpened its engagement in key AfDB initiatives, and fostered greater cooperation among member states.
However, as the Constituency prepares for new leadership, Ngafuan pledged to build on the momentum of unity and development achieved under Darkortey’s stewardship, while championing Africa’s broader development agenda.
Minister Ngafuan’s leadership credentials are already drawing attention. On Friday, May 30, he is slated to participate in a major AfDB knowledge event on “Building Effective Institutions in Africa for Harnessing Capital for Development.”
He will share the stage with Ivorian Finance Minister Niale Kaba, Saudi Arabia’s Finance Minister Dr. Ryadh M. Alkhareif, and other top African financial minds.
The new Chair pledged to advance the regional group’s development objectives and ensure its voice remains central in the AfDB’s broader agenda to finance sustainable transformation across the continent.
With a strong technocratic background and now holding two strategic positions at the AfDB, Ngafuan’s growing presence signals Liberia’s expanding footprint on the continent’s economic and governance stage.
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