TDB DANGLES E200M INVESTMENT TO PSPF

EZULWINI – The Trade Development Bank (TDB) has dangled a E200 million investment opportunity for PSPF.

Should the Public Service Pension Fund (PSPF) eventually decide on investing in TDB, which boasts of an asset base of around E45 billion, it will enjoy dividends from the organisation which has witnessed over 20 per cent growth per annum by virtue of being shareholders.

TDB also known as the Eastern and Southern African Trade and Development Bank is an award-winning, world-class regional development financial institution with 21 Member states/countries and 10 institutional shareholders.

The leading regional multilateral Development Finance Institution (DFI) has also announced that it will continue to increase financing for priority sectors such as infrastructure, manufacturing, industry and agribusiness across the 21 member states it operates in, over the next five years.

TDB Corporate Affairs and Investor Relations Director Mary Kamari congratulated the country for having gained membership into TDB, which will allow for access to finance as and when required. She said they looked forward to PSPF joining the bank as shareholders soon after the finalisation of negotiations which already started.

“We have offered between E100 and E200 million worth of shares to PSPF and hope negotiations would have been finalised by the end of the year,” said Kamari during the TDB and Federation of Swaziland Employers and Chamber of Commerce (FSE&CC) business seminar convened at the Royal Swazi Hotel yesterday.

PSPF Director Investments Masotja Vilakati confirmed the offer extended to the fund by TSB.
“They have tabled an offer and it is still being deliberated on. There is not much detail that can be disclosed at this point,” briefly said Vilakati.

Admassu Tadesse, President and Chief Executive of TDB, said in recent years, they had been giving a big boost to financing of trade, enterprise and infrastructure, which was evidenced in the tripling of their loan assets in the past five years.

“We have made substantial contributions to the rising economic growth and infrastructure development in the region, in line with regional and international development strategies, notably those aimed at achieving the Sustainable Development Goals and Africa’s Vision 2063,” said Tadasse.

He mentioned that they had funded several landmark projects such as Kilwa Power in Tanzania, the Fibre Optic Backbone Project in Burundi and renewable energy projects such as Turkana Wind Power in Kenya, Hydromax Minihydro in Uganda, Agribusiness projects in Malawi and industrial projects such as cement and steel plants in DR Congo, Djibouti, Zambia, Rwanda, Ethiopia and Zimbabwe.
“We will continue scaling up, with continued attention to sustainability and good corporate governance,” assured Tadasse.

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