Trade and Development Bank
Company type | Treaty-based multilateral institution |
---|---|
Industry | Finance |
Founded | 1985 |
Headquarters | Chaussée Prince Louis Rwagasore Bujumbura, Burundi |
Key people | Juste Rwamabuga (Chairman)
Admassu Yilma Tadesse (President & CEO) Joy Ntare (Chief Risk Officer) David Bamlango (General Counsel) Michael Awori (Chief Operating Officer) |
Products | International trade and development finance |
Revenue | Net US$129+ million (2018)[1] |
Total assets | US$8 billion (2022)[2] |
Owner | African Member States, African and non-African institutional investors, and non-African States |
Website | www |
The Trade and Development Bank (TDB), formerly the PTA Bank, is a trade and development financial institution operating in eastern and southern Africa. TDB is the financial arm of the Common Market for Eastern and Southern Africa (COMESA), although membership is open to non-COMESA states and other institutional shareholders.[3]
Overview
As of December 2018, TDB was a large financial institution with assets exceeding US$5.56 billion. The bank had 38 shareholders, across two classes of shares, with shareholders' equity in excess of US$1.19 billion.[4]
History
The Eastern and Southern African Trade and Development Bank, also known as TDB, was established on 6 November 1985 under Chapter Nine of the Treaty for the Establishment of the Preferential Trade Area for Eastern and Southern African States, which entered into effect on 2 September 1982 and was subsequently replaced by the Treaty for the Establishment of the Common Market for Eastern and Southern Africa of 1994 that established COMESA.[5] TDB is the financial arm of COMESA.[6]
The membership of the TDB includes twenty-two member states, nineteen of which are COMESA members. The
The following countries are the African member states of TDB.[7]
Location
The headquarters of TDB are in
Board of governors
The Board of Governors is the supreme authority of TDB. It is composed of shareholder representatives, with each shareholder designating one representative and one alternate.[10]
Board of directors
The board of directors is responsible for the conduct of the general operations of TDB. As of March 2019, the following were the members of the board of directors.[11]
- Juste Rwamabuga – Chairman and Director
- Gerard Bussier – Director
- Mohamed Kalif – Director
- Mingzhi Liu, Director
- Abdel-Rahaman Taha – Director
- Isabel Sumar – Director
- Said Mhamadi – Director representing the ADB
- Peter Simbani, Director
- Christian Rwakunda, Director
- Busiswe Alice Dlamini-Nsibande, Director
- Admassu Tadesse, Director (Executive)
Management team
As of March 2019, the bank's chief executive officer was assisted by 17 senior managers in running the bank.[12]
Credit rating
In October 2017, the long-term issuer rating of TDB was upgraded to "Baa3" from "Ba1" by
See also
References
- ^ "Eastern and Southern African Trade and Development Bank: Annual Report and Financial Statements, 2018, Integrating & Advancing the Region" (PDF). Trade and Development Bank. 28 March 2019. Retrieved 14 March 2020.
- ^ CEO Magazine Uganda (8 June 2022). "Kenyatta opens new Trade and Development Bank tower". CEO Magazine Uganda. Kampala, Uganda. Retrieved 23 June 2022.
- ^ "TDB Members". Retrieved 14 March 2020.
- ^ TDB, Trade & Development Bank. "Annual Report &Financial Statements, 2018" (PDF). tdbgroup.org. TDB. Retrieved 14 March 2020.
- ^ "Charter of TDB" (PDF). Archived from the original (PDF) on 2 November 2021. Retrieved 14 March 2020.
- ^ "The History of PTA Bank". PTA Bank. 2012. Archived from the original on 15 February 2013. Retrieved 23 May 2014.
- ^ "TDB Members". TDB. Retrieved 14 March 2020.
- ^ "TDB Offices". Retrieved 14 March 2020.
- ^ Presidential Security Communications Unit (7 June 2022). "President Uhuru Opens The Trade And Development Bank Tower". 98.4 Capital FM. Nairobi, Kenya. Retrieved 3 June 2022.
- ^ "Annual Report & Financial Statements" (PDF). TDB. Retrieved 14 March 2020.
- ^ "TDB Board of Directors as of 31 December 2019". TDB. Retrieved 14 March 2020.
- ^ "Senior Managers of TDB". TDB. Retrieved 14 March 2020.
- Moody's Investor Service. 25 October 2017. Retrieved 25 July 2018.
- ^ "Fitch Affirms TDB at 'BB+'; Outlook Stable". Fitch Ratings. 2 October 2019. Retrieved 14 March 2020.