Ebène, 21 September 2022 – The Eastern and Southern African Trade & Development Bank Group (TDB Group) held its 38th Annual General Meeting (AGM) on the 24-25 August 2022 in Mauritius, where the Group’s Mauritius Principal Office is domiciled.
The AGM opening ceremony and closed session of the TDB Group Board of Governors were held on the 25th of August at Long Beach Mauritius.
During the opening ceremony, TDB Group presented a CSR grant to the National Resilience Fund of Mauritius to support its ‘Canotte Scheme’. This scheme provides financial support to local fishermen to enable them to purchase fiberglass fishing boats called ‘canottes’ and also to encourage them to fish off-lagoons. With close to 2,000 registered fishermen operating artisanal coastal fisheries, lagoon fish stock is currently overfished. By fishing off-lagoon, fishermen will not only benefit from comparatively higher catch rates, thereby enhancing their livelihoods, but will also contribute to protecting lagoon marine life.
As part of AGM events, on the 24th of August, TDB Group’s Mauritius Principal Office was formally inaugurated in Ebène by Dr. the Hon. Renganaden Padayachy, Minister of Finance, Economic Planning and Development of the Republic of Mauritius, host Minister of TDB Group’s 38th AGM and now TDB Group Chairperson, and Admassu Tadesse, TDB Group President Emeritus and Managing Director. To commemorate the launch, a plaque was unveiled by Dr. the Hon. Padayachy and Mr. Tadesse, and trees were planted by various dignitaries. TDB Group’s Mauritius Principal Office is located at Africa FI Place, which TDB Group shares with one of its shareholders, Africa-Re.
Likewise, the TDB Captive Insurance Company (TCI), was formally launched on 24th August 2022. TCI provides credit and political risk insurance and reinsurance cover for TDB Group subsidiaries, thereby creating greater efficiencies in the Group’s risk management.
Over 250 delegates from across TDB’s member states participated in TDB Group’s 38th AGM events including TDB Group Governors, Directors and senior executives, senior-ranking officials and attendees from the Government of Mauritius and the Mauritian business community, among others.
Mauritius has been a TDB member state since 1991, and host to a TDB Group principal office since 2013. In addition to regular trade and project finance operations through the Bank, another TDB Group subsidiary domiciled in Mauritius is Eastern and Southern African Trade Advisors Limited (ESATAL), which was established as part of the Group’s asset and fund management business. ESATAL manages the Mauritius-based Eastern and Southern African Trade Fund (ESATF), which now counts on various investors to advance trade-led economic and social development in TDB Group member states.
Established in 1985, the Eastern and Southern African Trade and Development Bank (TDB) is a multilateral, treaty-based, investment-grade development finance institution, with 41 sovereign and institutional shareholders and assets of USD 8bn. TDB serves 23 economies in its region, with the mandate to finance and foster trade, regional economic integration, and sustainable development.
Anne-Marie Iskandar, Senior Communications Officer
Corporate Affairs and Investor Relations
Trade and Development Bank