The Trade and Development Bank (TDB), formerly the PTA Bank, is a trade and development financial institution in Africa. The 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.
As of December 2017, the TDB was a large financial institution with assets exceeding US$5.264 billion. The bank had 20 shareholders, with shareholders’ equity in excess of US$1.021 billion.
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.
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 (ADB) is the sole institutional shareholder.
As of May 2009, China and the ADB each owned 12.3 percent of the TDB’s shares. The following countries and institutions were shareholders at that time.
- China, People’s Republic of
- Democratic Republic of the Congo
The headquarters of the TDB are in Bujumbura, Burundi. The bank also maintains regional offices in Nairobi, Kenya and Harare, Zimbabwe. The Nairobi office is responsible for the northern region of the bank’s service area. The Bujumbura headquarters office is responsible for the central region of the bank’s service area. The Harare office is responsible for the southern service area, including the islands of Mauritius and Seychelles.
Board of governors
As of May 2014, the following were the members of the TDB’s board of governors:
- Gilbert Mbeshrubusa: Acting vice president of infrastructure, private sector and regional integration – 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
- Sufian Ahmed: Minister of finance and economic planning – Ethiopia
- Phyllis Kipkingor Kandie: Cabinet secretary for commerce, east African affairs and tourism – Kenya
- Maxwell Mkwe Zalamba: 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.
- Oliver Saasa – Chairman and Director for the Constituency of Zambia, Kenya, and Somalia
- Kampeta Sayinzoga – Director for the Constituency of Rwanda, Mauritius, Zimbabwe, and Eritrea
- Gerome Masankisi Kamwanga – Director for the Constituency of the Democratic Republic of the Congo, Uganda, Comoros, and Sudan
- Gao Dingxin – Non-executive director representing China
- Mariam Hamadou – Director for Djibouti, Tanzania, and Egypt
- Sanders Mutandwa – Director representing the ADB
As of May 2014, the bank’s chief executive officer was assisted by 16 senior managers in running the bank.
In October 2017, the long-term issuer rating of TDB was upgraded to “Baa3” from “Ba1” by Moody’s Investors Service. In October 2013, Fitch Ratings upgraded the Long-term Issuer Default Rating of TDB to “BB” from “BB-“.
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- ^Philip Ngunjiri (2 May 2009). “PTA Bank Gets BB- Rating”. The EastAfrican. Retrieved 23 May 2014.
- ^“The History of PTA Bank”. PTA Bank. 2012. Archived from the original on 15 February 2013. Retrieved 23 May 2014.
- ^“Shareholders In PTA Bank”. PTA Bank. 2013. Archived from the original on 10 April 2013. Retrieved 23 May 2014.
- ^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. Archived from the original on 6 April 2013. Retrieved 23 May 2014.
- ^“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 July2018.
- ^“RPT-Fitch Upgrades PTA Bank to ‘BB’; Outlook Stable”. Reuters. 4 October 2014. Retrieved 23 May 2014.