The Trade and Development bank has today launched in Uganda with its current expansion to more African countries. Kenyan based TDB bank started expanding wings to more East African countries earlier this year– while the bank offers financing to medium sized businesses, IT firms are scheduled to benefit more from the bank.
In a press conference at the Kampala Serena hotel, TDB’s Director portfolio management Mr Wycliff Bbossa said the bank currently finances the Banking, real estate and mining sectors in Uganda.Kampala cement launched in 2015 proudly financed by TDB based in Kenya by then and with its launch in Uganda support to the local companies.
Moderated by Ntv’s Charles Mwaguhya, Panelists at the TDB launch hailed the bank for its support to Governments with Rwanda Air having been fully financed with two Airbus aircrafts.
According to Keith Muhakanizi the permanent secretary ministry of finance planning and economic development, Government needs aid and with TDB’s launch in Uganda,economic development in the country expected to rise by 50%.
TDB also known as the eastern, southern African trade and development bank is an African regional development financial institution established in 1985. The bank’s mandate is to finance and foster trade, social-economic development and regional economic integration across it’s member states.