This archive report was first published on 15 December 2019.
On December 15, 2019, the Danish Investment Fund for Developing Countries made a significant investment in the Trade and Development Bank (TDB), formerly known as PTA Bank.
The Danish firm acquired a stake worth $20 million in the bank, purchasing 1,750 Class B shares, making it the bank's largest institutional investor.
With this investment, the number of institutional investors in TDB has risen to 17, including prominent organizations such as the African Development Bank (ADB), Africa Reinsurance Corporation, and the OPEC Fund for International Development (OFID).
PTA Bank President and Chief Executive Admassu Tadesse welcomed the investment, stating that it was a new frontier for European institutional investors who have been regular investors in the bank's international bonds over the years.
As a result of this investment, TDB has become a more attractive option for investors, with its membership comprising 22 states from the Common Market for Eastern and Southern Africa, the East African Community, and the South African Development Community, as well as China and Belarus.
