East African Development Bank
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.[2]
| Type | Private |
|---|---|
| Industry | Finance |
| Founded | 1967 |
| Headquarters | 4 Nile Avenue, Kampala, Uganda |
Key people | Philip Mpango Chairperson, Governing Council Vivienne Yeda Apopo Director General[1] |
| Products | Loans, leasing, real estate, trade finance, equity investments |
| Revenue |  Aftertax:US$10.213 million (2017) |
| Total assets | US$390.411 million (2017) |
| Owner | Governments of Kenya Rwanda Tanzania Uganda African Development Bank NCBA Group Plc and others. |
Number of employees | 78 (2012) |
| Website | www.eadb.org |
Overview
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 2017, the institution's total assets were valued at approximately US$390.411 million, with shareholders' equity of approximately US$261.36 million.[1]
History
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
The ownership of the EADB as of December 2013 is detailed in the table below.[5][6]
| Rank | Name of Owner | Percentage Ownership |
|---|---|---|
| 1 | Government of Kenya | 27.0 |
| 2 | Government of Uganda | 27.0 |
| 3 | Government of Tanzania | 24.0 |
| 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 | NCBA Group Plc - 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
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
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 website.[9]
Branch network
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]
References
- EADB (31 March 2018). "East African Development Bank: EADB 2017 Annual Report". Kampala: East African Development Bank (EADB). Retrieved 27 June 2019.
- Moody's Investors Service (4 August 2017). "Moody's Affirms East African Development Bank's Baa3 Long-Term Issuer Rating; Outlook Stable". London: Moody's Investors Service. Retrieved 27 June 2019.
- Juuko, Sylvia (25 February 2008). "Rwanda Joins EADB". New Vision. Archived from the original on 2 October 2008. Retrieved 25 June 2014.
- 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.
- EADB (31 December 2013). "Shareholding In East African Development Bank". East African Development Bank. Retrieved 25 June 2014.
- Gachiri, John (3 July 2014). "EADB KSh4.2 Billion Fresh Capital Target Piles Pressure On Member Countries". Business Daily Africa. Retrieved 3 July 2014.
- Mbogo, Steve (19 January 2013). "AfDB Invests Equity of $24 Million In EADB". The EastAfrican. Retrieved 26 June 2014.
- 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.
- EADB (2013). "The Organisational Structure of EADB". East African Development Bank. Retrieved 26 June 2014.
- Ihucha, Adam (18 February 2014). "Burundi Seeks To Join EADB". Adam-Ihucha.Blogsot.com. Archived from the original on 26 June 2014. Retrieved 26 June 2014.
