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Wednesday, August 5, 2020

Zambia is ready to host the 35th Annual General Meeting of the Trade and Development Bank-Ng’andu

Economy Zambia is ready to host the 35th Annual General Meeting of the...

Finance Minister Dr. BWALYA NG’ANDU  with Trade and Development Bank President ADMASSU TADESSE
Finance Minister Dr. BWALYA NG’ANDU with Trade and Development Bank President ADMASSU TADESSE

Finance Minister Dr. Bwalya Ng’andu says Zambia is ready to host the 35th Annual General Meeting of the Trade and Development Bank to be held in Livingstone on Thursday, 22nd August, 2019.

Meanwhile, Trade and Development Bank President Admassu Tadesse has arrived in Zambia and this afternoon, Mr. Tadesse held a bilateral meeting with Dr. Ng’andu at the Ministry of Finance Headquarters in Lusaka.

During the meeting, Dr. Ng’andu reiterated the approval of Cabinet FOR Zambia to host TDB’s annual premier event.

The Minister expressed the country’s readiness to host various delegations from the 22 member states and institutions shareholders from within the African continent and overseas.

Dr. Ng’andu took the opportunity to express gratitude to Mr. Tadesse for successfully implementing transformational programs at TDB, some of which commenced during the TDB presidency of Dr. Michael Gondwe who later also served as Bank of Zambia Governor.

The Minister also stated that a lot is expected from TDB to help resolve the economic and trade challenges that some members countries are facing in energy, industrialization, and capital market development.

He took the opportunity to brief Mr. Tadesse on the impact of last rainy seasons drought on energy generation in Zambia and neighboring countries.

Dr Ng’andu said further that the phenomenal interest of the international community in African capital investments is an opportunity for institutions like TDB to strengthen their cooperation with member states.

Speaking at the same meeting, Mr. Tadesse said Zambia is one of the top five beneficiaries of TDB support in various sectors of the economy. He added that the country was chosen to host this years Board of Governors Annual General Meeting because the strategic role that it has played in the history of the bank.

The TDB president told the Minister that a huge financial dividend will be announced to the institution’s shareholders, Zambia included, during the event in Livingston.

Mr. Tadesse added that being an investment grade institution, TDB is now in the process of examining various financing vehicles to support green energy investments at both regional and sovereign levels.

At the Livingston event, Dr. Ng’andu is set to take over the Chairmanship of the TDB Board of Governors from Uganda’s Minister of Finance, Planning and Economic Development, MATIA KASAIJA. He will serve until the next Board of Governors Annual General Meeting in 2020.

Mr. Tadesse was accompanied to the bilateral meeting by TDB Corporate Secretary, Mr. Tom Muzumara and TDB Administrative Officer, Ms. Mundaula Kaunda.

This is according to a statement issued by Ministry of Finance spokesperson Chileshe Kandeta.

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