What it does: The African Development Bank is not a regular bank. It's like the African version of the World Bank. The African Development Bank provides finances to several African countries that are regional member countries, as well as some private establishments.
Mission: The clue is in the name itself. The African Development Bank's mission is to trigger continuous economic development as well as social progress in the various regional member nation-states. This institution aims to reduce poverty in Africa.
Size and presence: The African Development Bank has around 3000 employees. This establishment has only one office located in Central Business District, Abuja.
Best known for: The African Development Bank is best known for providing financial aid to its member countries and supporting the execution of vital community projects in impoverished African communities.
The good bits: Working at the African Development Bank comes with numerous benefits and perks, notably a tax-free salary. The work is exciting and meaningful. It comes with numerous travel opportunities. The establishment has a healthy working environment.
The not so good bits: Employees may get to travel more than they like. The work environment is fast-paced, and certain employees may have a hard time keeping up.
After the colonial era in Africa came to an end, there was a rising desire for African unity. This triggered the emergence of two draft charters. The first charter was for establishing the Organisation of African Unity (OAU), which was later succeeded by the African Union (AU). The second charter was for the establishment of a regional development bank.
After the draft accord was submitted, convened by the UNECA (United Nations Economic Commission for Africa), approved, and co-signed by 23 African countries, the African Development Bank was born in the third quarter of 1963. In 1964, the inaugural meeting of the Board of Governors took place in Lagos, Nigeria. The following year, AfDB established its headquarters in Abidjan, Cote d'Ivoire. In 1966, the African Development Bank officially commenced operations.
Initially, only African countries were member countries of the regional bank. However, since 1982, it has accommodated non-African countries. AfDB has financed more than 3,000 projects since its inception.
Being a regional development bank, the African Development Bank has an excellent work culture and a rich multicultural setting. The employees are supportive and friendly. Numerous collaborative projects bring co-workers together, especially field activities. It's a great place for fresh graduates to begin their careers.
You get to experience unique cultures within your workplace and in the field. The numerous travel opportunities and ever-changing activities from day to day make it impossible to have a dull moment in this establishment. Also, the management and staff get along just fine.
For one to get a job at the African Development Bank, one will have to;
There's good career progression at African Development Bank. This is great news for fresh graduates, interns, and even experienced professionals. Fresh graduates and young interns get to work with authorities in various fields on social projects and build a wealth of work experience. They have an Internship program and a Young Professionals Program.
Working at the African Development Bank also gives you the chance to work hand in hand with several African and non-African governments as well. For someone with lofty ambitions, the African Development Bank can be the perfect pedestal to ascend to a career at the United Nations or even the World Bank.
The average annual salary of a fresh graduate at the African Development Bank is ₦1.8 million.
African Development Bank has significantly contributed to several community development projects in Nigeria. A trade credit guarantee project supported by the African Development Bank enhanced the supply of fertilizers for certain farming communities in Nigeria.
There's no significant controversy involving African Development Bank.