TDB Group’s 2025 AGM and 40th Anniversary Close in Kigali, Rwanda, ...

Media contacts: Anne-Marie Iskandar Senior Communications Officer Corporate Affairs and Investor Relations Trade and Development Bank [email protected]

Ministry of Finance and Economic Planning Jean Sam Rubulika [email protected]

Kigali, 06 August 2025 - TDB Group's 2025 Annual General Meetings 2025 and 40th anniversary held in Kigali, Rwanda on July 31 - August 1 2025, were hosted by the Government of Rwanda by the Ministry of Finance and Economic Planning, and proceeded under the theme "Innovating Solutions to Accelerate Sustainable Development", a testament to its core purpose and approach.

The Prime Minister of Rwanda, the Rt. Hon. Dr. Justin Nsengiyumva, in his keynote address at the Opening Ceremony, described TDB Group as a bank, which for four decades, has played a vital role in Africa driving development through the mobilisation of resources that have led to transformative initiatives in several sectors.

Speaking further, he applauded TDB Group's "dedication to fostering regional integration, enhancing trade, and championing inclusive and sustainable growth across Africa" and its "effective strategies and strong coordination of partners which have enabled it to turn objectives into real and tangible results", before noting that "Rwanda is proud to be one of the 11 founding members of TDB Group."

TDB Group's Outgoing Chairperson of the Board of Governors, Mozambique's Minister of Finance Carla Alexandra Oreste do Rosário Fernandes Loveira, speaking about the Bank's long, arduous, and rewarding journey, explained that "born as PTA Bank in 1985, our Bank has grown in leaps and bounds via reforms, becoming increasingly purpose-built to evolve with the times and effectively meet the expanding needs of our region." She recognised its "steadfast commitment to excellence and the remarkable agility with which the Bank adapts to changing circumstances, and wins, through innovation and strong, trusted partnerships."

Indeed, TDB Group has continued to evolve, innovate and play a pivotal role in relation to its regional sustainable development mandate, especially amidst the latest complex international and African economic landscape, which has been characterised by multiple interwoven shocks - where countries have had to implement difficult reforms to respond to global macroeconomic factors and ensure domestic macro-economic stability.

In his opening statement, Rwanda's Minister of Finance and Economic Planning, the Hon. Yusuf Murangwa - who assumed office as the new Chairperson of the TDB Group Board of Governors - mentioned that in the TDB Group region, "the Group has delivered catalytic financing in strategic sectors that include trade facilitation, infrastructure development, healthcare, clean energy, agribusiness, and industrial development." In Rwanda, he recounted how the Group has been a trusted partner, with significant investments across both the public and private sectors, and visible investments especially in the transport sector, both roads and aviation, financing institutions that facilitate finance, healthcare projects and small and medium enterprises.

In highlighting the Group's performance and speaking about 40-year story, Admassu Tadesse, TDB Group President and Managing Director acknowledged the people and institutions which have been integral parts of its journey of leveraging African capital, including his predecessor Dr Michael Gondwe who diligently served PTA Bank for 27 years in multiple executive leadership roles until his retirement, and subsequently for several years as a Member of the Board of Governors. In addition to the 2025 AGM host and its shareholders, Tadesse also recognised pioneering African and global institutional investors as well as other strategic partners who have invested equity and long-term funds into the Bank's balance sheet.

The Bank's growth trajectory includes going from 11 to 26 Member States in every African sub-region and 70 different sovereign and institutional shareholders across TDB Group and its subsidiaries. Speaking about the Bank's bonafides, Tadesse said "imagine the kind of growth that results in initial shareholder capital of US$ 15 million becoming US$ 2.3 billion. Consider how this US$ 2.3 billion gets leveraged to a balance sheet of 10 billion US$. Consider how this has been multiplied to generate US$58 billion in financing and guarantees. This is the kind of financial power and alchemy that Africa needs to unleash at scale to close the massive gaps in financing Africa's development."

A high point of the opening ceremony was the presentation of a US$ 100,000 CSR grant to a deserving green economy and eco-tourism initiative in Rwanda: the Nyandungu Urban Wetland Eco-Tourism Park. Under the grant, planned activities include wildlife reintroduction studies, expanding protected areas, exploring carbon credit opportunities, conducting biodiversity surveys, and enhancing community outreach programmes through community conservation strategies, school environmental clubs, and the creation of community-led local enterprises.

A high-level plenary session held following the opening under the theme "Navigating Africa's future: trade, resilience, integration and collaboration" featured a meaningful conversation including an address by H.E. Nardos Bekele-Thomas, CEO of AUDA-NEPAD, and exchanges of perspectives by H.E. Abdullah Almusaibeeh, President of the Arab Bank for Economic Development in Africa (BADEA); Dr. Kevin Kariuki, Vice President, Power, Energy, Climate and Green Growth of the African Development Bank Group; Mr. Lars Krogsgaard, Chief Investment Officer of Impact Fund Denmark; and Mr. Dingxin Gao, Deputy Director General of International Department of People's Bank of China (PBoC).

The Opening Ceremony followed an engaging rountable meeting held on the previous day where, as mentioned by Tadesse, "deep and frank reflections on the pressing question of how Africa can sustain its development trajectory, by boosting its own capacity, innovating and forming stronger strategic partnerships to better co-finance its development" were tackled. The roundtable gathered close to 40 notable speakers including a former head of state, ministers, MDBs, commercial banks, institutional investors, and several other development partners.

During the Closed Session, several decisions were taken, notably to re-affirm the multilateral nature of TDB Group which is 100% owned by sovereign and fully sovereign-owned entities such as central banks and other classical MDBs. Following a mid-term review of TDB Group's 5-year corporate plan, decisions were passed to scale up the Trade and Development Fund, TDB Group's well established concessional window, as well as to advance further several special purpose trade finance funds, such as ESATF I and its medium-term version, ESATF II, as well as others such as the Green Housing Value Chain Fund and the COMESA Infrastructure Fund. In this regard, the Board of Governors commended the Board of Directors and Executive Leadership of TDB Group and adopted the mid-term review directions, thrusts, adjustments and refinements.

In the past several years, to step-up its reach, impact and sustainability, TDB has restructured and grown into a group that has seen the establishment of several subsidiaries alongside strategic business units, which also include the TDB Captive Insurance Company (TCI), the ESATAL fund management company, and TDB Academy in addition to the existing trade and development banking operations of the group.

About TDB Group Established in 1985, the Trade and Development Bank Group (TDB Group) is an African regional multilateral development bank, with a mandate to finance and foster trade, regional economic integration, and sustainable development in Africa. TDB Group counts several subsidiaries and strategic business units including Trade and Development Banking, TDB Asset Management (TAM), the Trade and Development Fund (TDF), TDB Captive Insurance Company (TCI), the ESATAL fund management company and TDB Academy. https://www.tdbgroup.org

About the Ministry of Finance and Economic Planning The Ministry of Finance and Economic Planning is dedicated to fostering sustainable economic growth, expanding economic opportunities, and improving living standards for all Rwandans. Our vision is to position Rwanda as an upper-middle-income country by 2035 and a high-income country by 2050. https://www.minecofin.gov.rw