East African Development Bank

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East African Development Bank
Private
Industry Finance
Founded 1967
Headquarters 4 Nile Avenue, Kampala, Uganda
Key people
John Rwangombwa
chairperson, Governing Council
Keith Muhakanizi, chairman, board of directors
Vivienne Yeda Apopo
director general[1]
Products Loans, leasing, real estate, trade finance, equity investments
Revenue IncreaseAftertax:US$9.82 million (2014)
Total assets US$294.43 million (2014)
Owner Governments of
Kenya
Rwanda
Tanzania
Uganda
African Development Bank
Commercial Bank of Africa
Number of employees
78 (2012)
Website Homepage

The East African Development Bank (EADB) is a development finance institution with the objective of promoting development in the member countries of the East African Community.

Overview[edit]

EADB plays a threefold role of lender, adviser, and development partner. The bank provides a range of products and services that are tailored for the region's development requirements. The bank has experience, financial backing, staff, and a knowledge of the region's financial requirements. As of December 2014, the institution's total assets were valued at approximately US$294.43 million, with shareholders' equity of approximately US$219.4 million.[2]

History[edit]

EADB was established in 1967 under the treaty of the then East African Cooperation between Kenya, Tanzania, and Uganda. Following the breakup of the first East African Community (EAC) in 1977, the bank was re-established under its own charter in 1980. In 2008, following the admission of Burundi and Rwanda into the new EAC, Rwanda applied and was admitted into the EADB.[3] Under the new charter, the bank's role and mandate were reviewed and its operational scope expanded. Under its expanded operational scope, the bank offers a broad range of financial services in the member states. Its main objective is to strengthen socio-economic development and regional integration.[4]

Ownership[edit]

The ownership of the EADB as of December 2013 is detailed in the table below.[5][6]

East African Development Bank Stock Ownership
Rank Name of Owner Percentage Ownership
1 Government of Kenya 27.0
2 Government of Tanzania 24.0
3 Government of Uganda 27.0
4 Government of Rwanda 1.0
5 African Development Bank 11.0
6 Netherlands Development Finance Company 3.0
7 German Investment Corporation 1.0
8 Consortium of Yugoslav Institutions 1.0
9 SBIC - Africa Holdings 1.0
10 Commercial Bank of Africa - Nairobi 1.0
11 Nordea Bank - Sweden 1.0
12 Barclays Bank - London 1.0
13 Standard Chartered Bank - London 1.0
Total 100.0

As of December 2013, the bank's shareholders' equity totaled approximately US$166.03 million. In January 2013, the African Development Bank injected US$24 million into EADB in new equity, bringing its shareholding to 15 percent.[7]

Awards[edit]

In November 2014, the Association of African Development Finance Institutions ranked EADB, "the best performing development finance institution in Africa" for the second consecutive year, with an AA rating. The bank was ranked the best out of 33 institutions that submitted to the evaluation.[8]

Bank structure[edit]

EADB's structure is composed of the following;

  • Governing Council
  • Advisory Panel
  • Board of Directors
  • Management Team

The details of the current structure of EADB are outlined at the bank’s web site.[9]

Branch network[edit]

The headquarters of the bank are located in Uganda's capital, Kampala. As of June 2014, EADB had three other branches, one each in the East African capitals of Nairobi, Kigali, and Dar-es-Salaam. A branch will be established in Bujumbura as soon as Burundi joins the bank.[10]

See also[edit]

References[edit]

  1. ^ Onyango-Obbo, Charles (28 August 2011). "Guns, Germs And Ministering Angels: The Irresistible Rise of East African Women". African Review (Nairobi). Retrieved 25 June 2014. 
  2. ^ EADB (March 2015). "Audited 31 December 2014 Financial Report". East African Development Bank (EADB). Retrieved 14 March 2016. 
  3. ^ Juuko, Sylvia (25 February 2008). "Rwanda Joins EADB". New Vision. Retrieved 25 June 2014. 
  4. ^ Waithaka, James (22 February 2014). "Kenya: EADB Plans Bond Issue to Finance Projects In The Region". The Star(Kenya) via AllAfrica.com. Retrieved 26 June 2014. 
  5. ^ EADB (31 December 2013). "Shareholding In East African Development Bank". East African Development Bank. Retrieved 25 June 2014. 
  6. ^ Gachiri, John (3 July 2014). "EADB KSh4.2 Billion Fresh Capital Target Piles Pressure On Member Countries". Business Daily Africa. Retrieved 3 July 2014. 
  7. ^ Mbogo, Steve (19 January 2013). "AfDB Invests Equity of $24 Million In EADB". The EastAfrican. Retrieved 26 June 2014. 
  8. ^ New Times Reporter (21 November 2014). "East Africa: Regional Financier Ranked Best Development Bank in Africa". New Times (Rwanda) via AllAfrica.com. Retrieved 24 November 2014. 
  9. ^ EADB (2013). "The Organisational Structure of EADB". East African Development Bank. Retrieved 26 June 2014. 
  10. ^ Ihucha, Adam (18 February 2014). "Burundi Seeks To Join EADB". Adam-Ihucha.Blogsot.com. Retrieved 26 June 2014. 

External links[edit]

Coordinates: 00°18′54″N 32°34′48″E / 0.31500°N 32.58000°E / 0.31500; 32.58000