AfDB President Urges Bold Legal Reforms to Unlock Africa’s Prosperity

The President of the African Development Bank Group (AfDB), Dr. Akinwumi Adesina, has urged African nations to embrace bold legal and governance reforms, describing the rule of law as the continent’s “new gold” and the foundation for unlocking prosperity.

Speaking to more than 1,200 lawyers, judges, and policymakers at the Kenya Law Society’s 2025 Annual Conference in Diani, Adesina drew a direct link between judicial independence, transparent public finance, and sustainable economic growth.

“When Africa stands for the rule of law, the world will stand with Africa,” he declared in his closing keynote address titled Public Finance, Governance, Justice and Development.

Turning Challenges into Opportunities

Adesina warned that Africa faces an annual $100 billion gap in foreign direct investment (FDI), exacerbated by weak rule of law rankings, debt vulnerabilities, and predatory lawsuits from so-called “vulture funds.” These funds, he said, exploit weak legal systems to demand inflated debt repayments from struggling economies.

“Evidence suggests that foreign direct investments move more to countries that have political stability, stable democracies, transparency, and low levels of corruption,” he said, emphasizing the role of a strong judiciary, effective regulation, and respect for intellectual property.

He insisted that justice must be universally accessible, calling for expanded legal aid, digitised court systems, and grievance mechanisms that bring the law closer to citizens.

“Justice is not a byproduct of development; it is the foundation of development,” he said.

A Call for Reform

Adesina urged African governments to prioritize reforms that would strengthen judicial independence and transparency, a move he said was crucial for attracting global investment. He also called for natural resource laws to be revised to ensure that the wealth generated from Africa’s abundant resources directly benefits local communities rather than enriching only political and business elites.

He further emphasized the importance of developing sovereign wealth funds to secure prosperity for future generations and establishing strong African arbitration systems that can resolve disputes fairly and locally. Such measures, he argued, would not only safeguard economic stability but also build investor confidence and promote inclusive development across the continent.

He challenged lawyers and judges to serve as “guardians of promise and stewards of destiny” by upholding constitutional safeguards on public finance. He further urged the Kenya Law Society to champion ethics, embrace digitalisation, and protect African nations from exploitative debt practices.

Solutions Already in Motion

Adesina highlighted AfDB-supported initiatives already transforming governance and justice systems across the continent. In Rwanda and Côte d’Ivoire, the creation of specialised commercial courts has halved dispute resolution times, unlocking over $1 billion in investment. In Seychelles, constitutional reforms now require parliamentary approval for sovereign borrowing, helping reduce the country’s debt-to-GDP ratio from above 100 percent to below 55 percent.

Known as Africa’s “Optimist in Chief,” Adesina urged Africa’s legal fraternity to see themselves as central to driving development.

“Let us make a choice that history will record, and generations will remember,” he said. “As lawyers, justices, and guardians of the law, I urge you to uphold the rule of law, to execute justice with fairness and righteousness.”