INTEGRATING AND ADVANCING THE REGION’S ECONOMIES

PRESS RELEASE -CSR MAURITIUS

Friday, 09 October 2015 14:47

Eastern and Southern African Trade and Development Bank (PTA Bank) supports the Mauritius Institute of Training and Development in partnership with the Ministry of Education

The Government of Mauritius, through the Ministry of Education and Human Resources, Tertiary Education and Scientific Research, has taken the initiative to invest in Technical and Vocational and Educational Training (TVET) and Tertiary education to meet the growing gap between labor supply and demand and to develop employment opportunities for youth while diversifying hiring sources beyond the core economic sectors related to textile and sugar industries.

This Corporate Social Responsibility Grant of USD 25, 000 will support the Mauritius Institute of Training and Development purchase state-of-the-art equipment to transform the Cote D’Or Training Centre into a model TVET with increased capacity to offer training in the building and allied trades. The transformed vocational training institute will be instrumental in meeting growing demand in skilled/specialist workers in the real estate sector which is benefiting from investments in mega projects such as the Smart Cities initiatives and in Integrated Resort Schemes.

PTA Bank is committed to developing capacity in the communities in which it operates. The Bank welcomes this partnership with the Ministry of Education and Human Resources Tertiary Education and Scientific Research and lauds the major strides that Mauritius has made in the areas of education and trade.

Speaking at the CSR event Mr. Admassu Tadesse added:

We as PTA Bank are very pleased to be in a position to make a modest contribution to the development of vocational skills in Mauritius, particularly among the youth where unemployment is most pronounced as elsewhere. The institute clearly has an important role to play, especially as the demand for skills rise in the face of increased regional and international companies establish themselves here. We believe strongly that human capital in young people is one of the best investments a country can make, and therefore applaud the Government of Mauritius for its continued commitment in this area, and specifically the push in the area of vocational training.

ABOUT PTA BANK

Established in 1985 as a multilateral African financial institution, the Bank’s mission and objectives are to provide developmental capital and financial services in the region, through customer focused and innovative financing instruments. With a balance sheet of USD 2.8 billion currently, the Bank is among the largest regional development banks in Africa. It has been growing at about 30% per annum for several years, with healthy profits and low levels of non- performing loans. It aims to be a leading specialized financial institution in Eastern and Southern Africa. The Bank’s international credit ratings were upgraded in 2013 by Fitch Ratings, and the year before, by Global Credit Rating (GCR), South Africa. PTA Bank is among the few African financial institutions that successfully issues bonds in the African and European capital markets and enjoys funding lines from over 30 financial institutions in Africa, Europe, Asia and North America.

For additional information about PTA Bank, visit http://www.ptabank.org.

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