Liberia’s Minister of Finance and Development Planning, Hon. Augustine Kpehe Ngafuan, has been elected Chair of Constituency 15 of the African Development Bank (AfDB), a key regional bloc comprising Liberia, Ghana, The Gambia, Sierra Leone, and Sudan.
The election was held during the 2025 Constituency Annual Meetings, taking place on the margins of the AfDB Annual Meetings in Abidjan, Côte d’Ivoire. Minister Ngafuan is expected to officially assume the Chairmanship on August 1, 2025, succeeding Sierra Leone’s Finance Minister, Hon. Sheku A.F. Bangura. He will serve a three-year term.
The development marks a significant milestone for Liberia’s growing leadership role in regional finance and development policy. Minister Ngafuan’s election brings to two the number of key AfDB-related roles he now holds. Earlier in April 2025, during the IMF/World Bank Spring Meetings in Washington, D.C., he was elected Chairperson of the AfDB Board of Governors’ Standing Committee on Conditions of Service for Elected Officers, an influential committee made up of African finance ministers.
In a related transition, Mr. Rufus N. Darkortey, Liberia’s accomplished public servant and outgoing Executive Director representing Constituency 15 at the African Development Bank, will formally conclude his three-year tenure on August 1, 2025.
Mr. Darkortey used the moment to express profound gratitude to member countries for their unwavering support, which, he said, empowered the Constituency to become a more impactful force in the Bank’s governance and programming.
“Over the past three years, your confidence elevated our Constituency’s voice,” said Darkortey. “Your collective leadership redefined what is possible when countries act in unity.”
He also paid tribute to Liberia’s leadership across two administrations, thanking former President George Manneh Weah for recommending him to the post in 2022, and expressing appreciation to current President Joseph Nyuma Boakai for his sustained support and guidance throughout his service.
Under Darkortey’s stewardship, Constituency 15 significantly expanded its footprint in the AfDB’s strategic operations, sharpened its policymaking edge, and deepened inter-country collaboration within the Bank’s structure.
Paying homage to his predecessor, Minister Ngafuan praised Darkortey for representing the Constituency with honor and effectiveness. “Mr. Darkortey represented Liberia and the Constituency with distinction, as reflected in the strong support and commendations he received from member countries,” he stated.
As the Constituency embarks on a new chapter under his leadership, Ngafuan pledged to uphold the spirit of unity and progress, emphasizing that the region remains committed to advancing Africa’s development goals through the AfDB platform.
Looking ahead, Minister Ngafuan is also scheduled to serve as a panelist at an upcoming AfDB knowledge event titled “Building Effective Institutions in Africa for Harnessing Capital for Development,” scheduled for Friday, May 30, 2025.
The high-level panel will feature Minister Ngafuan alongside Ivorian Economy and Finance Minister Mrs. Niale Kaba, Saudi Arabia’s Minister of Finance Dr. Ryadh M. Alkhareif, and three other prominent experts. The session will explore innovative strategies for strengthening governance systems and implementing institutional reforms that enable African countries to attract and utilize capital more effectively.
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