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TDB’s Tadesse scoops African Banker of the Year award

28 Jun, 2019 - 16:06 0 Views
TDB’s Tadesse scoops African Banker of the Year award TDB president and chief executive Adamassu Tadessse

eBusiness Weekly

Hilda Muchamiri
Regional financier, The Trade Development Bank (TDB), which provides capital funding for public and private sectors in Zimbabwe, dominated the 2019 African Bankers Awards earlier this month.

TDB president and chief executive Adamassu Tadessse also scooped the African Banker of the Year award.

The bank jointly received with Crédit Agricole the 2019 Infrastructure Deal of the Year, for its co-financing of the ground-breaking Coral South Floating Liquified Natural Gas (FLNG) project in Mozambique, where TDB collaborated closely with its national partner, Banco Nacional de Investimento (BNI), among others, on this strategic national investment.

TDB was also nominated in the categories African Bank of the Year and Deal of the Year — Debt for its US$125 billion syndicated sovereign loan facility to the government of Kenya.

The African Banker of the Year award celebrates influential and inspirational captains of Africa’s banking industry: those who demonstrate outstanding integrity, and who through their leadership and outstanding vision, are exceptionally agile in achieving a strong financial performance and playing an active role in enhancing socio-economic empowerment and development in the region they serve.

Mr Tadesse was recognised as this kind of a leader, building on the foundations laid by his predecessor, Dr Gondwe who played an instrumental role in guiding the Bank through its teething years.

Working closely with a committed board and talented management team, Tadesse has elevated TDB into the world-class African development finance institution it is today.

He has successfully crafted and spearheaded ground-breaking reforms in the bank’s governance and organisational structure, with centres of excellence in risk management, treasury, investor relations and human capital management, among others, which have enabled the bank to multiply several fold its capital base and lending capacity, and grow a more diversified and de-risked loan portfolio.

TDB is now an investment grade bank with half of its loan portfolio directly and indirectly contributing to SDGs and creating millions of jobs.
Under his leadership, he has managed to attract world class executives and talented professionals from several continents, and has fostered a positive and motivating work environment, where substance, initiative, results and excellence are the focus and basis for advancement and rewards.

With his world class team, he has mobilised unprecedented volumes of funding, at reduced cost, for its scaled-up trade and development financing. The bank’s total assets grew from just over US$1 billion in 2012, to close to US$6 billion in 2019, with non-performing loans at under 3 percent.

TDB’s second win in the category Best Infrastructure Deal of the Year is a testament to the latter. Its US$99,2 million Senior Loan Facility towards Mozambique’s Coral South FLNG project — part of one of the largest subscription tickets for which Crédit Agricole was the lead arranger — is an absolute game-changer both in terms of technology used as well as for Mozambique’s economy. TDB is the only DFI among other African banks to have participated in the lending of the project.

As a result of the US$8 billion project, the Government of Mozambique is expected to generate billions in income in the form of royalties, taxes and dividends during the commercial life of the project.

Likewise, Coral South will help create thousands of direct and indirect jobs, enable technical and vocational skills development, knowledge and technology transfer, and boost the country’s competitiveness in the international arena.

The success of Coral South has served as catalyst for securing two additional mega onshore LNG projects led by Andarko and ExxonMobil with an aggregate capital cost of close to US$50 billion.

The African Bankers Awards, now renowned as the Oscars of African banking, is organised on a yearly basis the sidelines of the African Development Bank’s Annual Meetings.

This year, TDB was among an impressive group of winners and nominees who together are taking the African banking industry to new heights.

In Zimbabwe October last year, the TDB launched a pilot $3 million Small to Medium Enterprises (SME) programme in partnership with Untu Capital, a local micro finance institution.

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