Q: What does PTA stand for?
A: PTA is the acronym of the Preferential Trade Area, the precursor to COMESA. The Bank was established as the financial arm of the trading bloc then known as Preferential Trade Area (PTA) hence the name.
Q: Where is the Bank’s head office?
A: The Bank’s headquarters are in Bujumbura, Burundi. The Bank also has a fully operational offices in Nairobi, Kenya and Harare, Zimbabwe.
Q: Does the Bank have a Branch network?
A: To-date, the Bank has only one branch offices in Nairobi, Kenya and Harare, Zimbabwe, but in future, depending on the dictates of demand by the Bank’s customers, more branch openings will be considered.
Q: Who are the shareholders of the Bank?
A: The Bank’s shareholders are: Burundi, China, Comoros, Democratic Republic of Congo, Djibouti, Ethiopia, Eritrea, Egypt, Kenya, Malawi, Mauritius, Rwanda, Seychelles, Somalia, Sudan, Tanzania, Uganda, Zambia, Zimbabwe and the African Development Bank.
Q: Why is China the only non-regional shareholder of the Bank?
A: China was the first non-regional country to become a member of the Bank. The Bank however has in the recent past intensified efforts to get other countries - in particular an OECD country - on board.
Q: Can Chinese companies borrow from PTA Bank?
A: No. China is a non-borrowing member country.
Q: Does the Bank lend to Governments?
A: Not directly. The Bank restricts its lending to body corporates which may however have links to governments, e.gparastatals.
Q: Can I open an account at PTA Bank?
A: No. The Bank is a development financial institution and therefore has no depositors.
Q: What are the Bank’s lending limits?
A: The lending limits are reviewed from time to time by the Bank’s Board of Directors. Currently, the Bank lends a minimum of USD 500,000 and a maximum of USD 20 million.
Q: What interest rates are charged?
A: Interest rates vary from time to time depending on the prevailing outlook of the world economy and depending on the risk profile of the project.
Q: Does the Bank cater for small and medium sized entrepreneurs?
A: Not directly but the Bank often avails lines of credit to qualifying Banks in our member states which are then on-lent by the receiving bank to this category of customers.