The Arab Bank for Economic Development in Africa (Badea) has acquired an equity stake in the Eastern and Southern African Trade and Development Bank (TBD).
Badea CEO Sidi Ould Tah and TDB president Admassu Tadesse ratified the agreement at the Africa Investment Forum held in Johannesburg.
“This is a historic milestone that takes us to a higher level of strategic partnership,” Tadesse comments, adding that the Eastern and Southern African Trade and Development Bank also had 22 sovereign shareholders. “We are delighted to welcome BADEA as our thirteenth institutional shareholder.”
“We are excited to become part of the TDB success story,” says Ould Tah. “We will co-finance more and more transactions in the months and years to come,” he adds.