Tuesday, July 24, 2018: The Eastern and Southern African Trade and Development Bank (TDB) 34th Annual General Meeting will be held at the Serena Hotel, in Kampala, Uganda on the 30th and 31st July 2018. The planned activities include the Board of Governors Meeting, two signing ceremonies, and a Gala Dinner.
The international event will gather government and institutional shareholders, investors, ministers of finance and other development finance partners to review the Bank’s performance and its regional impact, as well as to reflect on regional African opportunities and challenges.
“It is an immense pleasure to host the Trade and Development Bank here in Kampala, and I wish to reaffirm and extend our commitment as a government to strengthening our partnership with TDB to foster economic progress, investment and trade within the region and with the rest of the world, especially the Member Countries, shareholders, and strategic funding partners of the Bank,” said Uganda’s Minister for Finance, Planning and Economic Development, Hon. Matia Kasaija.
On the sidelines of the Bank’s 34th Board of Governors Meeting, a signing ceremony will take place where TDB is to sign a grant of USD 25,000 to Powah Limited, an energy and technology solutions provider, to support the construction of the “Powah Hub” as part of the Bank’s Corporate Social Responsibility strategy for the region. The ceremony will take place on the side-lines of the Bank’s Annual General Meeting (AGM) in Kampala, Uganda.
The Bank will also host a signing ceremony to commemorate the shareholding transfer from Paritetbank to the Development Bank of the Republic of Belarus (DBRB). The Development Bank of Belarus is taking over as Designated Institution of the Republic of Belarus after Paritetbank assumed the role for four years, ever since Belarus became a Member Country in 2014. Going forward, the Development Bank of Belarus must fulfil all shareholder obligations to TDB.
The 34th Annual General Meeting of the Trade and Development Bank will also be an opportunity to look at sustainable ways of tackling future challenges in the diverse industries and sectors of the region. “In recent years, we have been giving a big boost to our financing of trade, enterprise and infrastructure, which is evidenced in the tripling of our loan assets in the past five years. Cumulatively, the Bank has provided more than USD 16 billion in financing for trade and socio-economic investment in the region,” said TDB President and CEO Admassu Tadesse.
Established in 1985, TDB is a multilateral, treaty-based financial institution with immunities and privileges, and currently a balance sheet of about USD 4 billion. Currently, it has as shareholders, 22 member countries from the tripartite region (COMESA, EAC and SADC), the African Development Bank, the National Pension Fund of Mauritius, Mauritian Eagle Insurance Company Ltd, Rwanda Social Security Board, the OPEC Fund for International Development, Africa Re, ZEP RE, Seychelles Pension Fund, Banco Nacional Investimento (BNI), the National Social Security Fund of Uganda and SACOS Group as institutional shareholders, while the People’s Republic of China and the Republic of Belarus (Paritetbank) are non-regional member countries. The mission and objectives of the Bank are to provide developmental capital and services in the region, through customer focused and innovative financing instruments. TDB has dual headquarters in Bujumbura (Burundi) and Ebene (Mauritius), with regional offices in Nairobi (Kenya), Harare (Zimbabwe), and Addis Ababa (Ethiopia).