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About PTA Bank

About PTA Bank (8)

As at 31/12/2016

All powers of the Bank are vested in the Board of Governors. Each Member of the Bank appoints one Governor and one alternate, with the alternate only voting in the absence of his principal. The Governor or the alternate exercises voting powers on behalf of the Member for which he is nominee.
The Board of Governors generally comprise Ministers of Finance or Ministers of Economic Planning from Member States, as well as appointees by Members of the Bank other than the Member States.

Hon. Dr. Abraham Tekeste, Minister of Finance and Economic Cooperation, Federal Democratic Republic of Ethiopia

Hon. Felix Mutati, Minister of Finance and National Planning, Republic of Zambia

Hon. Pravind Kumar Jugnauth, Minister of Finance and Economic Development, Republic of Mauritius

Mr. Louis Rene Peter Larose, Minister of Finance, Trade and the Blue Economy, Republic of Seychelles

Hon. Matia Kasaija, Minister of Finance, Planning and Economic Development Republic of Uganda

Hon. Dr. Domitien Ndihokubwayo, Minister of Finance, Budget and Privatisations, Republic of Burundi


Hon. Said Ali Said Chayhane, Minister of Finance and Budget, Union of Comoros

Hon. Ilyas Moussa Dawaleh, Minister of Economy, Finance and Planning, Republic of Djibouti

Hon. Dr. Amr EL-Garhy ,Minister of Finance, Republic of Egypt

Hon. Berhane Habtemariam, Minister of Finance State of Eritrea

Hon. Adan Mohamed, EGH, Cabinet Secretary Ministry of Industry, Investment and Trade Republic of Kenya

Hon. Goodall Gondwe, Minister for Finance, Economic Planning and Development Republic of Malawi

Hon. Patrick Chinamasa ,Minister of Finance and Economic Development Republic of Zimbabwe

Hon. Claver Gatete, Minister of Finance and Economic Planning Republic of Rwanda Chairman, Board of Governors

Hon. Badr El-Din Mahmoud Abbas, Minister of Finance and National Economy Republic of Sudan. 

Hon. Phillip Mpango, Minister of Finance and Economic Affairs, United Republic of Tanzania

Hon. Henri Yav Mulang  ,Minister of Finance Democratic Republic of Congo

Hon. Mohamed Aden Ibrahim, Minister for Finance Federal Republic of Somalia

Hon. Adriano Afonso Maleiane, Minister of Economy and Finance Mozambique

 Mr. Charles O Boamah, Vice President – Finance, African Development Bank (AfDB)



H.E. Dr. Zhou Xiaochuan ,Governor, People's Bank of China, People's Republic of China

Mr. Andrei S. Brishtelev, Chairman of the Board, Paritetbank, Belarus

Mr Veenay Rambarassah, Senior Analyst, National Pension Fund of Mauritius. 

Mr. Derek Wong Wan Po ,Managing Director, Mauritian Eagle Insurance Company Ltd

Ms. Lekha Nair, Chief Executive Officer, Seychelles Pension Fund

Mr. Corneille Karekezi, Group Managing Director, Africa-Re Insurance Company. 

Ms. Hope Murera  ,Managing Director, Zep-Re (PTA Reinsurance Company)

Mr. Jonathan Gatera , Director General, Rwanda Social Security Board

Mr. Richard Byarugaba, Chief Executive Officer, National Social Security Fund Uganda. 

Mr. Tomas Rodrigues Matola ,President, Banco Nacional de Investimento

Mr. John A K Esther, Chief Executive Officer, SACOS Group Limited


Saturday, 24 November 2012 17:41

Management Team

Published in About PTA Bank Written by

The Bank's management, headed by the President, is charged with the responsibility of managing the Bank's affairs on a day-to-day basis. There are departments, namely Finance, Portfolio, Project and Infrastructure, Trade, Legal and Administration and Human Resources. They are headed by departmental heads who report to the Chief Executive Officer. The Presidency is also a department on its own.


Mr. Admassu Tadesse, President and CEO


Mr. Tadesse is the President and Chief Executive Officer of the Bank.  Prior to his appointment, Mr. Tadesse served as a top executive for 10 years at the Development Bank of Southern Africa (DBSA) where he was responsible for international finance and investment, as well as corporate strategy. Much earlier in his career, he served in various management and technical capacities with specialized UN agencies.


Mr. Tadesse is the vice-chairman of the Association of African Development Finance Institutions (AADFI) and a member of the Institute of Bankers and the Institute of Directors of Southern Africa. He serves on several international boards and trust funds.


An Economist and Banker, Mr. Tadesse qualified at the London School of Economics and Political Science, Wits Business School and the University of Western Ontario. He also trained in advanced management and banking at Harvard Business School and INSEAD. 


Mrs. Joy Ntare , Chief Risk Officer


Ms. Ntare joined the Bank in April 2014 with over 26 years of experience in accounting and finance.  She was previously  employed by the Central Bank of Rwanda for 20 years in several capacities including as Director General for Financial Stability and Director of Supervision of Non-Bank Financial Institutions.  She also worked at the Tanzania Electric Supply Company.


Ms. Ntare holds Advanced Diploma in Accountancy and a MBA from Cardiff Business School, University of Wales.  She is a member of the Association of Chartered Certified Accountants (UK) and the Institute of Certified Public Accountants of Rwanda (ICPAR)






Mr. George Mudange, Senior Director Trade Finance/Chief Trade Finance Officer and Deputy CEO, Eastern and Southern African Trade Advisers Limited (ESATAL)

Mr. Mudange has over 20 years of deal origination and structuring experience in trade finance, project finance, advisory services and lately funds management. Prior to joining the Bank, he worked with various Banks in Zimbabwe, Merchant Bank of Central Africa and finally in a senior management role as General Manager, Agribusiness at Trust Bank Zimbabwe Limited. Currently he is the Senior Director for Trade Finance and Chief Trade Finance Officer at TDB as well as Deputy CEO of Eastern and Southern African Trade Advisors Limited, a joint venture asset management company co-owned by TDB and GML Capital.

Mr. Mudange holds an MBA from the University of Zimbabwe and a BSc in Economics. He also holds a Diploma in Banking from the Institute of Bankers of Zimbabwe of which he is an associate member.




Ms. Catherine Kimaryo, Director, Nairobi Regional Office


Ms. Kimaryo is Director, of the Nairobi Regional Office.  She has over 15 years of experience in project and corporate finance and deal structuring.  Prior to joining the Bank in 2013, she was  a Senior Investment Officer at the World Bank, where she worked for 8 years.  She also worked for the United Nations in Kosovo and Akiba Commercial Bank in Tanzania.

Ms. Kimaryo holds a MBA from Wits Business School and a Bachelor of Commerce from McGill University




Mr. James Kabuga, Senior Director, Harare Regional Office


Mr. Kabuga has over 20 years of development and investment banking experience, specialising in project and structured finance in the areas of credit appraisal, loan administration, budgeting and finance.  Prior to joining the Bank in 1994, he worked in various senior capacities in the financial sector.


Mr. Kabuga holds a Master of Agricultural Economics from Colorado State University and a Bachelor of Economics from the University of Nairobi.




Mr. Abraham Byanyima,

Director,Treasury Management


Mr. Byanyima has over 15 years of diverse and progressive experiences in Emerging and Global Markets gained from working for Global Banks and Africa based Financial Institutions.  His expertise includes interest rate derivatives and global currency derivative products, forex trading and risk management.


Prior to joining the Bank, Mr. Byanyima worked as Vice President of Bank of New York Mellon and as Associate Director at UBS Investment Bank, New York.


Mr. Byanyima holds a MBA from Fordham University.


Mr. Goodman Chakanyuka, Director, Credit Risk Management


Mr. Chakanyuka  has over 18 years of experience in commercial banking across Southern Africa. Prior to joining the Bank, he was the Chief Risk Officer at Ned Bank (Swaziland) for 8 years and held senior positions with Kingdom Bank and  the African Export Import Bank.


Mr. Chakanyuka holds  a Doctorate  in Business  Leadership from  UNISA, a MBA and a BSc in Economics  from the University of Zimbabwe.  He is an associate member of the Institute of Bankers (Zimbabwe)



Mr. Wycliffe Bbossa, Director , Portfolio Management


Mr. Bbossa is the Director of Portfolio Management Department. He has worked with the Bank since 2000 in operations and has 20 years of experience in development finance, business advisory and commercial banking. Prior to joining the Bank, Mr. Bbossa worked with KPMG East Africa as a pre-divestiture and banking sector reforms consultant and as a debt recovery manager.


Mr. Bbossa holds a Master and a Bachelor in Economics from the University of Malawi in addition to Post Graduate diplomas in Economics Education and Industrial Projects Appraisal.





Mr. Francis Namboya, Ag. Director, Financial Management


Mr. Namboya has been with the Bank for over 10 years and holds over 20 years of experience as a finance specialist. Prior to joining the Bank, Mr. Namboya worked as Financial Controller, Company Secretary and Treasurer for the Commonwealth Development Corporation (CDC) in Tanzania, United Kingdom and Malawi.


Mr. Namboya holds a Bachelor of Commerce (Accountancy) and Diploma in Business Studies from the University of Malawi. He is a fellow of the Association of Chartered Certified Accountants (UK) and Certified Public Accountant (CPA) Malawi.




Ms. Mary Kamari, Ag. Director, Corporate Affairs and Investor Relations


Ms. Kamari is responsible for stakeholder relations, strategic partnerships and Board affairs.  Prior to joining the Bank in April 2012, she was Regional Project Director with UNOPS and concurrently, Resource Mobilization and International Relations Advisor at the Development Bank of South Africa, where she served for 5 years establishing various-donor facilities.


Previously, Ms. Kamari  served as Managing Director for GoodWorks International in Rwanda and a consultant to the World Bank.  She started her career as an Associate at the World Bank.


Ms. Kamari holds a MBA from California State University.



Mr. Daniel Mezgebu, Ag. Director, Human Resources and Administration


Mr. Mezgebu has over 25 years of professional experiences with several international institutions such the  Sheraton Hotel, the American Embassy and Ethiopian Airlines.

Prior to joining the Bank, Mr. Mezgebu served as Director of Human Resources and Administration  at dVenuts Wind Technologies.

Mr. Mezgebu holds a Master of Public Administration from  the University of Greenwich and Bachelor of Arts in Management and Public Administration from Addis Ababa University.



Mr. Devalingum Gopalla, Ag. Director, Legal Services


Mr. Gopalla has over 11 years of diverse and progressive experiences in Emerging and Global Markets gained from working in Mauritius, UK and USA. He previously served in senior capacities at Financial Services Commission in Mauritius, Clifford Chance and Conyers Dill & Pearman in London. Prior to joining the Bank, Mr. Gopalla worked as Head of Legal at Amicorp Group in Mauritius.


Mr. Gopalla holds LLB from University of Wolverhampton and LLM from Kings College London. He is a Barrister at Law admitted in England and Mauritius and is a Member of the New York State Bar Association



Saturday, 24 November 2012 17:10

Bank Charter

Published in About PTA Bank Written by

The PTA Bank’s Charter is the constitutive document establishing the institution. The Bank operates in accordance with the provisions of the Charter.

The Charter outlines the Bank’s objectives, legal status, rights and obligations, immunities and privileges, membership, governing organs, capital subscription and the general operations of the Bank.

Click here to view the current version of the PTA Bank Charter amended in January 2016.



Saturday, 24 November 2012 14:58

Board of Directors

Published in About PTA Bank Written by

The Board of Directors has responsibility for the general conduct of the ordinary operations of the Bank and, in this regard, exercises all the powers delegated to it by the Board of Governors to discharge the said responsibility.

The Board of Directors consists of not more than ten Non-Executive Directors and the Bank's President as an Executive Director.

Abdel-Rahaman Taha,

Dr. Taha holds a PhD in Business Administration from the University of California, Los Angeles and an MBA from the University of California, Berkeley. He has over 40 years’ experience in the management of regional multilateral development finance institutions focusing on trade finance and export credit and political risk insurance, covering African and other developing countries.

Dr. Taha previously served as the CEO of the Islamic Corporation for the Insurance of Investment and Export Credit.

He is an Independent Non-Executive Director.

Gerard Bussier

Gerard Bussier is a Director at the Ministry of Finance and Economic Development of the Government of Mauritius, heading the Directorate that deals with resource mobilization, bilateral agreements, and economic cooperation including international affairs and trade. Mr. Bussier is a Certified Chartered Accountant (UK) and a Certified Fraud Examiner (USA). He also holds a Master in Business Administration from the University of Mauritius with specialization in finance.

He is the Non-Executive Director representing Rwanda, Mauritius, Zimbabwe and Eritrea.

Mr. Gerome Masankisi Kamwanga,

Kamwanga is an economist and a holder of a Master's of Science in Mathematical Financial Modeling from the University of Witwatersrand in South Africa. He has over 7 years' experience in Financial Management gained from DRC and South Africa. He is currently a Senior Advisor in charge of Cooperation at the office of the Prime Minister of the Democratic Republic of Congo. He is the Non-Executive Director for the Democratic Republic of Congo, Uganda, Comoros and Sudan.


Isabel Maria Sumar

Isabel Sumar is the National Director of Cooperation in the Mozambican Ministry of Finance responsible for managing cooperation with International partners supporting the state budget and coordination of the SADC Regional Integration.

She possesses expertise in the oil and gas industry, management of public enterprises. Ms. Sumar holds an MSc in Public Economic Management and Finance from the University of Birmingham in the United Kingdom and an Honors Degree in International Relations and Diplomacy from the National based University (ISRI)

She is the Non-Executive Director representing Kenya, Zambia, Somalia and Mozambique.

John Bosco Sebabi,

John Bosco Sebabi is the Deputy Director General of the Rwanda Social Security Board in charge of funds management. He holds an MSc in International Economics, Banking and Finance from Cardiff University, Wales (The United Kingdom) and a BSc in Economics and an Associate degree in Economics. Mr. Sebabi is a fellow of the Fletcher Leadership Program for Financial Inclusion of the Fletcher School, Tufts University, and holds an executive education certificate from the Advanced Management Program (AMP).

He is the Non-Executive Director representing All other Shareholders.

Juste Rwamabuga,

Juste Rwamabuga is a Burundian national with over 40 years’ experience in public, private and international organizations, including, the World Bank, International Finance Corporation and the African Development Bank. He previously served as Division Manager, Transports Infrastructure Department of the African Development Bank. He holds an MBA from the University Of Montreal, Canada.

He is the Independent Non-Executive Director.

Mingzhi Liu,

Mingzhi Liu is the Chief Representative for the People’s Bank of China at the Africa office in Tunis holds a Masters and a PhD in Economics from the Peking University in Beijing, China. He is currently working as Chief Representative for Africa of the People’s Bank of China (Central Bank of China) at the Bank’s office in Tunis. Mr. Liu possesses over 12 years of experience in development banking in Africa and China.

He is the Non-Executive Director representing Non-African States.


Mohamed Kalif

Mohamed Kalif is the Head of Financial Intermediation of the African Development Bank (AfDB) which covers commercial banks, trade finance, SMEs, insurance, leasing and regional development financial institutions. Before joining the Private Sector Department of the AfDB, Mr. Kalif was chief of risk of African Development Bank for a period of 7 years. Mr. Kalif has accumulated 24 years banking experiences, including of risk management, corporate banking and project finance lending in commercial banks and development financial institutions environment.

He is the Non-Executive Director representing African Institutions.

Dr. Natu El Mamry Mwamba,

Dr. Natu E. Mwamba holds a PhD in Economics from the University of Nottingham, United Kingdom and a Master’s Degree from the University of Dar es Salaam. She is the Deputy Governor of the Bank of Tanzania and was a Senior Lecturer at the University of Dar es Salaam prior to her appointment. Dr. Mwamba is an accomplished and published researcher in various areas including economics, social and gender issues.

She is the Non-Executive Director representing Djibouti, Eqypt and Tanzania


Peter Simbani

Peter Simbani heads the Department of Economic Planning and Development which is responsible for the formulation of the medium to long-term development plans for the country, the formulation of the public sector investment programme and monitoring the performance of sector plans. He has over 27 years’ experience in aid and debt management.

He holds a Master’s degree in International Development Studies from the University of Bradford and a Bachelor’s degree in Social Sciences from Chancellor College of the University of Malawi.

He is the Non-Executive Director representing Seychelles, Burundi, Ethiopia and Malawi.



Friday, 23 November 2012 00:43

Our History

Published in About PTA Bank Written by

The Eastern and Southern African Trade and Development Bank commonly known as PTA Bank is an African regional development financial institution established in 1985. The Bank’s mandate is to finance and foster trade, socio-economic development and regional economic integration across its Member States Although PTA Bank is an institution of the Common Market for Eastern and Southern Africa (COMESA), its membership is open to Non-COMESA States, non-regional countries as well as institutional shareholders. It offers a broad range of products and services, across both the private and public sectors, including debt, equity and quasi-equity as well as guarantees. PTA Bank’s investments cut across agriculture, trade, industry, infrastructure, energy and tourism, among others and are made on a commercial basis and sustainability principles.

Headquartered in Bujumbura (Burundi) with regional hubs in Nairobi (Kenya), Harare (Zimbabwe) and Ebene (Mauritius), PTA Bank’s current shareholders include: Burundi, Comoros, the Democratic Republic of Congo, Djibouti, Egypt, Eritrea, Ethiopia, Kenya, Malawi, Mauritius, Rwanda, Seychelles, Somalia, Sudan, Uganda, Zambia and Zimbabwe. It also has the African Development Bank, the National Pensions Fund of Mauritius, Mauritian Eagle Insurance Company Ltd, and Rwanda Social Security Board, Africa Re, ZEP RE and Banco Nacional Investimento (BNI) as institutional shareholders while the People’s Republic of China and the Republic of Belarus are non-regional member countries.

The Bank is further expanding its shareholder base as it repositions itself as a more inclusive Regional Development Bank serving all countries in or adjacent to eastern and southern Africa – subject to membership – working with the East African Community, the Intergovernmental Authority on Development (IGAD), the Indian Ocean Commission (IOC) and the Southern African Development Community (SADC), in addition to its founding regional economic community, COMESA.

The Bank provides the following core products and services:

Trade Finance: PTA Bank aims to promote the development of Trade among the Member States, furthering the aims of COMESA region by financing, projects/transactions designed to make the economies of the Member states increasingly complementary to each other. In addition to the provision of finance for both intra and extra regional export and import trade flows, the Bank can finance transactions where the direct economic benefit accrues to a COMESA member state. The range of products offered includes Import and Export Financing, Structured Commodity Finance, Guarantees and Bonds, Pre and Post Shipment Finance, Issuance of Letters of Credit, Receivable Backed and Asset Financing. 


Project and Infrastructure Finance: PTA Bank provides medium and long term financing on commercial terms. Target sectors are those considered as high impact such as agribusiness and infrastructure which is a catalyst for development in Member States. The range of financing solutions offered includes Project Finance, Corporate Finance, Leasing and Guarantees amongst others.  PTA Bank provides funding to both public and private enterprises, covering almost all sectors of economy. The Bank employs either one or a combination of modes of financing which are; direct financing (senior and mezzanine debt or equity), co-financing with local and/or foreign lenders, loan guarantees and syndications.


Funds Management:  In 2013, PTA Bank established a Fund’s Management Department to support the implementation of the Bank’s strategy in pursuing growth and diversification, by spearheading new initiatives.

Two strategic fund initiatives have been launched to date:

  1. 1.The COMESA Infrastructure Fund (CIF). The COMESA Infrastructure Fund (CIF) will be one of the first two funds to be established by PTA Bank as promoter following the formal transfer of the CIF by COMESA to PTA Bank. The CIF will be a Mauritius based fund to be managed by a fund management company set up as joint venture between PTA Bank and an independent regional private equity manager; and
  2. 2.The Eastern and Southern African Trade Fund. The Eastern and Southern African Trade Fund will be a Mauritius-based open-ended investment fund which will undertake trade finance related investments. PTA Bank is in a unique position to act as a promoter of the Eastern and Southern African Trade Fund owing to its leadership in the industry and strong network of partners. This innovation is designed to further accelerate regional development and integration and is specifically targeted at development-orientated global investors.

The Bank is governed by a Board of Governors (BOG), which is comprised of shareholders' representatives and is responsible for exercising all the powers of the Bank. The BOG has delegated some of its functions to the Board of Directors (BOD) but still retains full powers and exercises authority over any such delegated powers. The BOD is responsible for the conduct and general operations of the Bank.

The President is the Chief Executive Officer of the Bank and is responsible for the conduct and management of the business of the Bank on a day-to-day basis.

Our senior management comprise of the heads of each functional department as per the organizational structure below.

Organisational Structure

The Bank has seven departments

  • Finance
  • Human Resources & Administration
  • Legal Services
  • Project & Infrastructure Finance
  • Trade Finance
  • Portfolio Management
  • Compliance Risk Management Department

The roles and responsibilities of each department are summarized below:

The Finance department is responsible for ensuring timely availability of accurate and readily usable financial information, and of adequate funds to meet all operational requirements. Its main focus is thus on budgeting and control, financial reporting and resource mobilization and management.

The Human Resources & Administration department, is responsible for the Bank’s human resources and administrative support services.

The Legal Department is responsible for the Bank’s legal affairs

The Projects and Infrastructure Finance department is responsible for developing the pipeline, appraising the projects and taking them through the documentation process up to first disbursement.

The Trade Finance department provides trade finance facilities to support export and import trade flows from, to and within the COMESA region.

The Portfolio Management department is responsible for the administration and monitoring of loans and investments from first disbursement of funds through project implementation.

The Compliance and Risk Management Department is a governance, control and assurance department responsible for managing and reporting of prevalent risks across the Bank and monitoring of compliance with internal controls.

The Bank is currently owned by twenty three members comprising of eighteen members from the Eastern and Southern Africa region, two non-regional members and three Institutional member. The regional member’s shareholding is 81.3% where as the non-regional shareholding stands at 6.6% and the Institutional Shareholding at 12.1%.

The current members are:

Regional Members

  • Burundi
  • Comoros
  • Congo
  • Djibouti 
  • Egypt
  • Eritrea
  • Ethiopia
  • Kenya
  • Malawi
  • Mauritius
  • Mozambique
  • Rwanda
  • Seychelles
  • Somalia
  • Sudan
  • Tanzania
  • Uganda
  • Zambia
  • Zimbabwe

Non-regional Members

  • Belarus
  • China

Institutional Members

  • Africa Development Bank
  • Africa Reinsurance Cooperation (Africa-RE)
  • Banco Nacional Investimento (BNI)
  • Mauritian Eagle Insurance Co. Ltd.
  • National Pension Fund of Mauritius
  • National Social Security Fund - Uganda
  • PTA Reinsurance Company (ZEP RE)
  • Rwanda Social Security Board (RSSB)
  • SACOS Group Limited
  • Seychelles Pension Fund


A world class African financial institution advancing the economic development, integration and prosperity of the region.


To be at the forefront of extending development capital and services to advance regional growth and integration through customer focused and innovative financing instruments


Client Orientation

Having clients and their needs as a primary focus of our actions; developing and sustaining productive client relationships


Maintaining a character of honesty and uprightness; keeping commitments and behaving in a consistent manner


Generating innovative solutions to work situations; trying different and novel ways to deal with work problems and opportunities


Actively participating as a member of a team to help the team achieve its goal


Maintaining effectiveness when experiencing major changes in work tasks or the work environment; adjusting effectively to new work structures, processes















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