Liberia’s Finance Minister Elected Chair of African Development Bank Constituency 15 as Executive Director Darkortey Successfully Ends Tenure

Abidjan, Côte d’Ivoire – 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 regional grouping that includes Liberia, Ghana, The Gambia, Sierra Leone, and Sudan.

The election took place during the 2025 Constituency Annual Meetings, held on the margins of the ongoing AfDB Annual Meetings in Abidjan, Côte d’Ivoire.

Minister Ngafuan will serve a three-year term, officially assuming leadership of the Constituency on August 1, 2025. He succeeds Sierra Leone’s Finance Minister, Hon. Sheku A.F. Bangura.

In a related development, Mr. Rufus N. Darkortey, a distinguished Liberian public servant, will conclude his tenure as Executive Director of Constituency 15 at the African Development Bank on August 1, 2025.

As he prepares to step down, Mr. Darkortey extended heartfelt gratitude to the member states for the trust and support that defined his three-year tenure.

“Over the past three years, your confidence elevated our Constituency’s voice in the governance and programming of the Bank,” he said. “Your collective leadership redefined what is possible when countries act in unity.”
Mr. Darkortey offered special recognition to former President George Manneh Weah and current President Joseph Nyumah

Boakai whose trust and support were pivotal during his tenure
He expressed gratitude to former President George Manneh Weah for his confidence in recommending him for the role in 2022.

Darkotey also expressed deep appreciation to His Excellency Joseph Nyuma Boakai, Sr., President of the Republic of Liberia, for his "ongoing support, guidance, and leadership throughout my service as Executive Director."

Under Mr. Darkortey’s leadership, the Constituency strengthened its engagement in AfDB’s strategic initiatives, increased its influence in policymaking, and enhanced regional cooperation and visibility within the Bank.

Minister Ngafuan, speaking on behalf of the Government and people of Liberia, commended Mr. Darkortey for his exemplary service for the past three years.

“Mr. Darkortey represented Liberia and the Constituency with distinction, as reflected in the strong support and commendations he received from member countries.”

As the Constituency transitions to a new leadership, incoming Chair Ngafuan expressed confidence in the continued success and unity of Constituency 15 in advancing Africa’s development agenda through the African Development Bank.

Minister Ngafuan's election as Chairperson of Constituency 15 of the AfDB brings to two the number of AfDB-related organs he chairs. On the sidelines of the IMF/World Bank Spring Meetings held in Washington, DC, USA in April this year, the Liberian Finance Minister was elected Chairperson of the Standing Committee on Conditions of Service for Elected Officers of the AfDB.The Standing Committe is one of the standing committees of the AfDB Board of Governors comprising ministers of finance of African member states of the AfDB.

Meanwhile, Minister Ngafuan has been invited by the AfDB to serve as one of the panelists at a knowledge event on "Building Effective Institutions in Africa for Harnessing Capital for Development" to be held on Friday, May 30, 2025.

Minister Ngafuan will join Ivorian Finance Minister Mrs. Niale Kaba and the Minister of Finance of Saudi Arabi, Dr.Ryadh M. Alkhareif, and three other distinguished panelists at this knowledge event aimed at discussing innovative approaches to support member states of the AfDB to implement frameworks that boost governance systems to leverage and attract capital as well as identify the type of institutions and institutional reforns needed to better harness capital for development.