- “I am proud of the journey we started together ten years ago; I can see its fruits. Kenyans can feel its benefits,” President Ruto
- “What a great honour! What a rare privilege! What a historic recognition!” Adesina
Kenya’s President H.E. William Samoei Ruto has conferred the country’s highest honour, Chief of the Order of the Golden Heart CGH, on the President of the African Development Bank Group, Dr Akinwumi Adesina (www.AfDB.org).
Dr Adesina becomes the 20th recipient of the honour that was established in 1967 and first awarded to Kenya’s founding father and former President, H.E. Jomo Kenyatta. Others include globally renowned leaders such as former UN Secretary General Kofi Annan, South Africa’s Nelson Mandela, Queen Elizabeth II of the United Kingdom, Uganda’s Yoweri Museveni and Kenya’s subsequent Presidents Daniel arap Moi, Mwai Kibaki, Uhuru Kenyatta and Dr Ruto.
During a colourful investiture ceremony at Nairobi’s State House, President Ruto praised Dr Adesina’s distinguished service, commitment, and passion for the economic development of Kenya and Africa.
President Ruto congratulated Adesina and told him, “You are amazing. You are a great leader. You deserve this honour and investiture.”
The two leaders share a warm relationship that dates back 20 years when Adesina lived and worked in Kenya for the Alliance for Green Revolution in Africa, AGRA. At that time Ruto was Kenya’s Minister for Agriculture. Both recalled how they worked together to provide subsidies to farmers despite opposition at the time from some donors and global financial institutions.
President Ruto said under his presidency he has continued with the same policy of offering subsidies to farmers, leading to an increase in the country’s food production.
“Our maize production increased from 40 million to 70 million bags last year. Our sales from tea, generated more than 220 billion shillings [approximately $1.7 billion], the highest ever earnings.”
“I am proud of the journey we started together ten years ago; I can see its fruits. Kenyans can feel its benefits,” President Ruto told Adesina who was accompanied by his wife, Mrs Grace Yemisi Adesina.
In its citation, the Kenya government recognized Adesina as a distinguished economist and a global development leader.
“He transformed the African Development Bank into a globally recognized institution for financial innovation and development impact and grown the Bank’s general capital from $93 billion to $318 billion,” the citation reads.
In his acceptance speech, Adesina said: “I am greatly humbled by your incredible kindness! What a great honour! What a rare privilege! What a historic recognition!”
Adesina spoke about Kenya’s special place in the history of the Bank which was established in 1964. Since then, the Bank has financed a total of 167 projects, with financial commitment of $7.8 billion.
He said the Bank’s current portfolio in Kenya consists of 45 projects worth $4.09 billion. They include, among others:
- The Last-Mile Connectivity electricity project, which has helped to increase the number of Kenyans connected to the national electricity grid from 2.42 million households in 2014 to 9.7 million households in 2024.
- The expansion of the Thika-Nairobi Highway, which has drastically reduced travel time from 2-3 hours to just 30-45 minutes between the two destinations.
- The Bank is providing $634 million for the Kenya Town’s Sustainable Water Supply and Sanitation project. This includes 314.92 million Euros for the construction of the Thwake Multipurpose Water Dam, to be completed by July 2026. It will provide water to about 1.3 million people in Kitui and Makueni counties, as well as the Konza Techno-City in Machakos County.
- The Bank’s support for the private sector in Kenya includes over $700 million in lines of credit to more than eight commercial banks.
President Ruto said the Bank’s support to the country’s mortgage sector has boosted the government’s national housing programme, with 150,000 houses under construction, generating jobs for 260, 000 youth.
Speaking about Kenya’s high youth unemployment, Adesina pointed to several youth riots that shook the country last year.
In addition to providing $309 million for eight on-going projects targeting skills development, Adesina said the Bank is preparing for Board approval, financial support for the establishment of a Youth Entrepreneurship Investment Bank of Kenya.
“This will be a stand-alone financial institution, that will be 100 percent dedicated to providing technical assistance, debt and equity financing for youth businesses in Kenya.”
Adesina was accompanied by Vice President for Power, Energy, Climate and Green Growth Dr Kevin Kariuki, the Vice President for Regional Development, Integration and Business Delivery Nnenna Nwabufo; the Director General for East Africa, Kennedy Mbekeani; the Executive Director for Eastern Africa, Jonathan Nzayikorera; and his Senior Advisor to the President for Communication and Stakeholder Engagement Dr Victor Oladokun, who delivered the opening prayer for the ceremony.
“This is an honour that I will cherish for life,” Adesina said. “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 honours the incredible contributions of the Bank to its development. I accept this honour with great humility.”
Distributed by APO Group on behalf of African Development Bank Group (AfDB).
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About the African Development Bank Group:
The African Development Bank Group is Africa’s premier development finance institution. It comprises three distinct entities: the African Development Bank (AfDB), the African Development Fund (ADF) and the Nigeria Trust Fund (NTF). On the ground in 41 African countries with an external office in Japan, the Bank contributes to the economic development and the social progress of its 54 regional member states. For more information: www.AfDB.org