Press Release Archives
At the recently concluded 117th Board of Director’s meeting in Seychelles, the Bank signed several new shareholding and partnership agreements. The new agreements signed reflect the Bank’s continued ability to attract additional resources and new partnerships, whilst continuing to strengthen existing partnerships.
On the sidelines of the Board Meeting, the Government of Seychelles also signed an agreement to purchase additional Class A shares increased its shareholdings to 2.33% by purchasing additional Class A shares worth US$ 25 million with the payable portion to be paid over 5 years taking substantial shareholding up to 2.33% to. The Seychelles Minister of Finance commended the Bank for its growth and progress so far and said. “Such commitment represents its confidence as a Member State and provides its commitment to the Board of Directors and management to continue with its efforts.” he added.
At the same time, a the partnership with the Development Bank of Seychelles led by Anne Vidot, CEO DBS that will enable two institutions to exchange experiences and collaborate on deals.
Last but not least, an agreement was signed with Sumitomo Mitsui Banking Corporation to grow bilateral cooperation, mutual exchange and cross referral of potential transactions and provision of synergies that greatly benefit the two institutions, was signed by Mr. Masahiko Oshima, Managing Director, and Head of EMEA Division, Sumitomo Mitsui Banking Cooperation.
SMBC won recently a bid as Initial Mandate Lead Arranger(IMLA) for the 2014 Syndicated Loan.
Lastly, Mr. Benoit Conrad, CEO of Seychelles Petroleum Company re-signed an extended loan of US$ 60 million with the Bank to facilitate the importation of fuel.
Kafamily craft Market was established in response to the demand for quality handmade arts and crafts in the country as well as abroad. It was created by the curio and crafts sub-sector of the SME sector to ensure that the Masaai markets are managed and run in a more dignified manner. The membership of the market includes the physically challenged, women, youth and various artisans who operate and produce from their homes.
“PTA Bank is pleased to partner with Kenya National Federation of Jua Kali association in this initiative to support Kafamily market. It’s this kind of partnership between PTA Bank and Kenya National Federation of Jua Kali association that corporate social responsibility can find the most effective response to many of the challenges and opportunities societies face today”. She remarked. She commended the Kenya National Federation of Jua Kali Associations for developing and promoting SME’s.
Richard Muteti, CEO, Kenya National Federation of Jua Kali Association expressed his appreciation to the PTA Bank management for supporting the Kafamily market. ‘’ It was important to dignify this space so that people can feel safe to come and do their shopping here”, He added.
The Kafamily market opens every Saturday and Sunday from 8:00am – 6:30pm