Prime Minister Justin Nsengiyumva has called on the private sector to actively leverage financing opportunities provided by the Trade and Development Bank (TDB) to accelerate the country’s economic growth and development. He made the remarks during TDB Group’s Annual General Meetings held in Kigali on August 1, an event that coincided with the Bank’s 40th anniversary and brought together shareholders from 26 African member states along with other strategic partners. ALSO READ: African private sector urged to rise to the occasion amid declining aid The Prime Minister said Africa’s growth has been slowed by challenges like climate shocks, COVID-19, and less financial support. But he noted that the continent’s economy was recovering with trade improving. He added that more growth is expected in the coming years across the region. “This moment signals a turning point for our continent. It is a new opportunity to rethink how we build, how we trade and how we grow by strengthening our value chains and embracing deeper cross-border cooperation,” he said. The premier further noted that TDB’s coordinated strategies have shown how regional institutions can drive development. As of today, the bank’s shareholder capital stands at $2.3 billion, with membership having expanded from 11 founding states, including Rwanda, to 26. Since its inception, the bank has disbursed $36 billion across the continent. Rwanda has received over $1 billion in financing from TDB, which has supported different sectors including transport, aviation, agriculture, infrastructure, renewable energy, and healthcare. However, Nsengiyumva urged the private sector to maximise these resources, highlighting key priorities that are important. ALSO READ: Private sector key in financing trade infrastructure in Africa – Experts “We urgently need to scale up investment in roads, ports, and energy infrastructure to boost intra-African trade, accelerate regional integration and enhance competitiveness,” the premier said, adding that with agriculture at the core of African economies, there was a need to invest in green technologies and climate-resilient systems to safeguard food security and ensure sustainability. At the same time, he added, there was a need to expand support to small and medium-sized enterprises, especially those led by women and youth who often face limited access to financing. According to TDB Group President and Managing Director Admassu Tadesse, the bank has collectively issued $58 billion in disbursements and guarantees. “Out of that $58 billion, $55 billion happened just in the last 15 years. This is the power of momentum,” he said, adding that the bank’s current $10 billion balance sheet was made possible by a broad network of partners. “We have equity of $2.3 billion. The gap there is represented by the many partners in the room who have followed African capital to talk it up and to leverage it with debt to enable us to move from $2.3 billion to $10 billion.” He emphasised that Africa’s financial transformation must be led by its own institutions, not only by TDB. Both Rwanda Social Security Board (RSSB) and Agaciro Development Board are shareholders in TDB. TDB has grown its loan portfolio by 3.4 per cent year-on-year in 2024, with project and infrastructure finance increasing by 5 per cent. Its five-year-old Trade Finance Fund grew by 57 per cent, reaching $222 million by the end of 2024. “We found places to grow fast and to continue to be aggressive while being cautious in the areas where we had to exercise strong responsibility,” Tadesse said. During the event, it was announced that Yusuf Murangwa, Rwanda’s Minister of Finance and Economic Planning, will serve as the TDB Group’s Chairperson and Host Governor.
