Oil slump, slow growth face next AfDB chief
The next president of the African Development Bank will take over an institution entering a much tougher economic environment than the one Donald Kaberuka inherited when he won the job a decade ago.
Kaberuka's successor, who will be elected on Thursday during the AfDB's annual meeting in Abidjan, Cote d'Ivoire, faces a slowdown in some of Africa's biggest economies after a plunge in oil prices and rising political risk.
"There's uncertainty about the commodity price outlook and there are security challenges in some more prominent markets like Kenya and Nigeria that weren't there 10 years ago," Ridle Markus, a strategist at Barclays Plc's Africa unit, said by phone from Johannesburg. "There are a lot more medium-term challenges they'll have to overcome."
