Trade and Development Bank
| Company type | Multilateral and commercial, with public and private shareholding |
|---|---|
| Industry | Finance |
| Founded | 1985 |
| Headquarters | Ebene, Mauritius,
Bujumbura, Burundi Naairobi, Kenya Harare, Zimbabwe Addis Ababa, Ethiopia Kinshasa, DR Congo |
Key people | Admassu Yilma Tadesse, President & Chief Executive
Frannie Leautier, Special Advisor David Bamlango, General Counsel, Michael Awori, Executive, Operations Joy Ntare, Chief Risk Officer, Francis Namboya, Executive, Finance, Abraham Byanyima, Executive, Treasury Linda Bwakira, Corporate Secretary, |
| Products | Trade finance, corporate finance, project finance, asset/funds management, equity investment |
| Revenue | Net profit 111m USD in 2017 |
| Total assets | 5.2 billion USD in 2017 |
| Owner | Mixed and diversified, including sovereigns, central banks, DFIs, IFIs, sovereign wealth funds, pension funds, insurance companies |
Number of employees | 150 |
| Website | www |
The Trade and Development Bank (TDB), formerly the PTA Bank, is a trade and development financial institution in Africa. The TDB is an autonomous COMESA-based regional financial institution covering eastern and southern Africa. It has 22 sovereigns who are members, and 12 institutional investors. ,[1]
History
The Eastern and Southern African Trade and Development Bank, also known as the TDB, was established on 6 November 1985 under the Treaty of 1981 that established COMESA. The TDB is the financial arm of COMESA.[2]
Shareholders
The membership of the TDB includes eighteen member states, seventeen of which are COMESA members. The People's Republic of China was the first non-regional member state to join TDB in 2000. The African Development Bank is the sole institutional shareholder.
As of May 2009, China and the African Development Bank each owned 12.3 percent of the TDB's shares. The following countries and institutions were shareholders at that time.[3]
Location
The headquarters of the TDB are in Ebene, Mauritius, as well as Bujumbura, Burundi.[4] The bank maintains regional offices in Nairobi, Kenya, Harare, Zimbabwe and Addis Ababa, Ethiopia. The Nairobi office is responsible for anglophone east Africa. The Harare office is responsible for anglophone south eastern Africa. The Addis Ababa Office is responsible for north eastern Africa.
Board of governors
As of May 2016, the following were the members of the TDB's board of governors:[5]
- Charles Boamah : Senior Vice President - African Development Bank
- Tabu Abdallah Manirakiza: Minister of finance - Burundi
- Mohamed Soilihi: Minister of finance - Comoros
- Matata Ponyo Mapon: Governor for DRC - Democratic Republic of the Congo
- Ilyas Moussa Dawaleh: Minister of finance - Djibouti
- Hapem Saleh: Minister of foreign trade & industry - Egypt
- Berhane Abrehe: Minister of finance - Eritrea
- Abraham Tekeste: Minister of finance and economic planning - Ethiopia
- Adan Mohammed: Cabinet secretary for industry and trade - Kenya
- Goodall Gondwe: Minister of finance - Malawi
- Charles Gaetan Xavier-Luc Duval: Minister of finance and economic development - Mauritius - Chairman of the board of governors
- Zhou Xiaochuan: Governor, People's Bank of China - China
- John Rwangombwa: Minister of finance and economic planning - Rwanda
- Pierre Laporte: Minister of finance - Seychelles
- Awad Ahmed Aljazeir Ahmed Hassan: Minister of finance & national economy - Sudan
- Saada Mkuya Salum: Minister for finance and planning - Tanzania
- Maria Kiwanuka: Minister of finance, planning and economic development - Uganda
- Margaret Mwanakatwe: Minister of finance - Zambia
- Patrick Chinamasa: Minister for finance - Zimbabwe
Board of directors
As of May 2014, the following were the members of the board of directors.[6]
- Oliver Saasa - Zambian - Chairman - Director for the Constituency of Zambia, Kenya, and Somalia
- Kampeta Sayinzoga - Rwandese - Director for the Constituency of Rwanda, Mauritius, Zimbabwe, and Eritrea
- Gerome Masankisi Kamwanga - Congolese - Director for the Constituency of the Democratic Republic of the Congo, Uganda, Comoros, and Sudan
- Gao Dingxin - Chinese - Non-executive director representing China
- Mariam Hamadou - Djiboutian - Director for Djibouti, Tanzania, and Egypt
- Sanders Mutandwa - African - Director representing the African Development Bank
Management team
As of May 2014, the bank's chief executive officer was assisted by 16 senior managers in running the bank.[7]
Credit rating
In October 2017, the long-term issuer rating of TDB was upgraded to "Baa3" from "Ba1" by Moody's Investors Service.[8] In October 2013, Fitch Ratings upgraded the Long-term Issuer Default Rating of TDB to "BB" from "BB-".[9]
See also
References
- ^ "Audited December 2013 Annual Report". PTA Bank. 31 December 2013. Retrieved 23 May 2014.[permanent dead link]
- ^ "The History of PTA Bank". PTA Bank. 2012. Retrieved 23 May 2014.[permanent dead link]
- ^ "Shareholders In PTA Bank". PTA Bank. 2013. Retrieved 23 May 2014.[permanent dead link]
- ^ David Malingha (20 May 2014). "PTA Bank to Raise $300 Million in Syndicated Loan This Year". Bloomberg BusinessWeek. Retrieved 23 May 2014.
- ^ "Board of Governor At May 2014". PTA Bank. 2013. Retrieved 23 May 2014.[permanent dead link]
- ^ "PTA BANK Board of Directors At May 2014". PTA Bank. 2013. Retrieved 23 May 2014.
- ^ "Senior Managers At PTA Bank". PTA Bank. 2014. Retrieved 23 May 2014.
- ^ "Moody's upgrades Eastern and Southern Africa Trade and Development Bank to Baa3 from Ba1, outlook stable". Moody's Investor Service. 25 October 2017. Retrieved 25 July 2018.
- ^ "RPT-Fitch Upgrades PTA Bank to 'BB'; Outlook Stable". Reuters. 4 October 2014. Retrieved 23 May 2014.