Liberia’s Minister of Finance and Development Planning, Augustine Kpehe Ngafuan, has been elected Chair of Constituency 15 of the African Development Bank (AfDB), a group representing five West and North African countries: Liberia, Ghana, The Gambia, Sierra Leone, and Sudan.
The election took place during the 2025 Constituency Annual Meetings held on the sidelines of the AfDB’s Annual Meetings in Abidjan. Minister Ngafuan will officially assume the three-year post on August 1, 2025, succeeding Hon. Sheku A.F. Bangura, Finance Minister of Sierra Leone.
The leadership transition comes as Mr. Rufus N. Darkortey, Liberia’s outgoing Executive Director at the AfDB, concludes his term on the same date. Darkortey, who has served the Constituency with distinction since 2022, expressed his gratitude to member countries for their trust and collaboration.
“Over the past three years, your confidence elevated our Constituency’s voice in the governance and programming of the Bank,” Darkortey said. He credited both former President George Manneh Weah and current President Joseph Nyuma Boakai for their support during his tenure.
Under his leadership, Constituency 15 bolstered its influence in AfDB’s strategic direction, policy development, and regional cooperation, positioning member states for greater impact in the Bank’s decision-making processes.
Minister Ngafuan lauded Darkortey for his outstanding service, describing him as a strong advocate for Liberia and the entire Constituency. “Mr. Darkortey represented Liberia and the Constituency with distinction,” Ngafuan said.
As Chair-elect, Ngafuan expressed optimism about the future of the group. “We remain committed to working together to advance Africa’s development agenda through the African Development Bank,” he said.
The appointment adds to Minister Ngafuan’s growing leadership role within the AfDB. In April 2025, he was also elected Chairperson of the Bank’s Standing Committee on Conditions of Service for Elected Officers during the IMF/World Bank Spring Meetings in Washington, D.C. The committee includes finance ministers from AfDB member countries and plays a key role in the governance of the Bank.
In addition, Ngafuan has been invited to participate as a panelist at an AfDB knowledge event titled “Building Effective Institutions in Africa for Harnessing Capital for Development,” scheduled for May 30, 2025. He will be joined by high-level counterparts including Ivorian Finance Minister Mrs. Nialé Kaba and Saudi Arabia’s Finance Minister Dr. Ryadh M. Alkhareif.
The event will explore institutional reforms and governance frameworks needed to attract and manage development capital more effectively across the continent.
