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.

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.

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. TDB is the financial arm of COMESA.

Shareholders

The membership of the TDB includes twenty-two member states, nineteen of which are COMESA members. The

People's Republic of China China, officially the People's Republic of China (PRC), is a country in East Asia. It is the world's most populous country, with a population exceeding 1.4 billion, slightly ahead of India. China spans the equivalent of five time zones and ...

was the first non-regional member state to join TDB in 2000. The

African Development Bank The African Development Bank Group (AfDB) or (BAD) is a multilateral development finance institution headquartered in Abidjan, Ivory Coast, since September 2014. The AfDB is a financial provider to African governments and private companies i ...

(AfDB) is a major institutional shareholder, alongside eleven other institutional investors, including the

Arab Bank for Economic Development in Africa The Arab Bank for Economic Development in Africa (BADEA) (Banque Arabe pour le Développement Economique en Afrique) (المصرف العربي للتنمية الاقتصادية في أفريقيا) was established pursuant to the resolution o ...

(BADEA) and OPEC Fund (

The OPEC Fund for International Development The OPEC Fund for International Development (OPEC Fund) is an intergovernmental development finance institution established in 1976 by the member states of the OPEC, Organization of the Petroleum Exporting Countries (OPEC). The OPEC Fund was conc ...

). The following countries are the African member states of TDB.

Location

The headquarters of TDB are in

Bujumbura, Burundi Bujumbura (; ), formerly Usumbura, is the economic capital, largest city and main port of Burundi. It ships most of the country's chief export, coffee, as well as cotton and tin ore. Bujumbura was formerly the country's normal capital. In late ...

and Ebene, Mauritius. The bank also maintains regional offices in

Nairobi, Kenya Nairobi ( ) is the Capital city, capital and largest city of Kenya. The name is derived from the Maasai language, Maasai phrase ''Enkare Nairobi'', which translates to "place of cool waters", a reference to the Nairobi River which flows throug ...

Harare, Zimbabwe Harare (; formerly Salisbury ) is the capital and most populous city of Zimbabwe. The city proper has an area of 940 km2 (371 mi2) and a population of 2.12 million in the 2012 census and an estimated 3.12 million in its metropolitan ...

, Addis Ababa, Ethiopia, and Kinshasa, Democratic Republic of Congo. The Nairobi office serves as both the primary operating hub for TDB and the regional office for

Eastern Africa East Africa, Eastern Africa, or East of Africa, is the eastern subregion of the African continent. In the United Nations Statistics Division scheme of geographic regions, 10-11-(16*) territories make up Eastern Africa: Due to the historical ...

. In June 2022, TDB moved into a new 19-storey skyscraper in the

Kilimani Kilimani is a mixed-use commercial and residential neighbourhood in the city of Nairobi. Location Kilimani is located approximately west of Nairobi's central business district, within Westlands Sub-county. It is north of Woodley; east of ...

neighborhood of Nairobi, that serves as the bank's regional headquarters of the bank's eastern region.

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.

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 A board of directors (commonly referred simply as the board) is an executive committee that jointly supervises the activities of an organization, which can be either a for-profit or a nonprofit organization such as a business, nonprofit organiz ...

. * 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.

Credit rating

In October 2017, the long-term issuer rating of TDB was upgraded to "Baa3" from "Ba1" by

Moody's Investors Service Moody's Investors Service, often referred to as Moody's, is the bond credit rating business of Moody's Corporation, representing the company's traditional line of business and its historical name. Moody's Investors Service provides international ...

. In October 2019,

Fitch Ratings Fitch Ratings Inc. is an American credit rating agency and is one of the " Big Three credit rating agencies", the other two being Moody's and Standard & Poor's. It is one of the three nationally recognized statistical rating organizations (NRSRO) ...

affirmed the Long-term Issuer Default Rating of TDB at "BB+" with Stable Outlook.

References

External links

*
East Africa: PTA Bank Signs Deal to Finance European Exports to Africa
{{DEFAULTSORT:Trade and Development Bank International organizations based in Africa International development in Africa Economy of Africa Multilateral development banks Supranational banks International banking institutions Development finance institutions