Media Contacts:
Anne-Marie Iskandar
Senior Communications Officer
Corporate Affairs and Investor Relations
Trade and Development Bank
Anne-Marie.Iskandar@tdbgroup.org
Fatouma Said Abdallah
Adviser to the General Manager in charge of Communication et Coordination of Activities
fatouma.said@cnss.dj
+253 21331819/ +253 77825232
Djibouti, February 22nd, 2024 – Djibouti’s Caisse Nationale de Securité Sociale (CNSS) has invested an additional USD 5.4 million in the capital stock of the Eastern and Southern African Trade and Development Bank (TDB), making it its third investment in the Bank since 2020. Overall, CNSS has invested over USD 15 million in Class B shares and the value of its shares since its first investment has increased by 26%.
In 2013, TDB launched its Class B shares, specifically designed to mobilize capital from institutional investors. The Bank now boasts over 20 institutional shareholders, including pension funds, a sovereign wealth fund, insurance companies, and development finance institutions from across the continent, Europe, and Asia.
Class B shares have attracted much interest from institutional investors, with USD 284 million invested to date, on the back of steady growth in TDB assets and impact in member states.
Admassu Tadesse, TDB Group President and Managing Director said: “Investment in TDB’s risk capital is a unique opportunity for institutional shareholders in our region to benefit from a meaningful triple bottom-line value proposition than is possible to obtain elsewhere in the world. We take pride in delivering attractive returns for our investors and leveraging our equity capital to drive impact across our member states, including in Djibouti where we have financed transactions in several high impact sectors including healthcare, manufacturing and others.”
Deka Ahmed Robleh, CNSS CEO said that “CNSS is investing in the capital of TDB Group for the third time, demonstrating our satisfaction as it pertains to the achievement of its objectives in terms of annual results. This investment’s performance has been remarkable and coincides with our objectives in terms of returns. By increasing our stake in the capital of TDB, not only are we growing our resources in this asset class, but also, we support a financial institution which aligns perfectly with our values and ESG impact. We are delighted to join other leading African pension funds and insurance companies by supporting TDB Group, which delivers attractive returns and has a positive impact on the economic, social and environmental development of Djibouti and of the region.”
Mary Kamari, TDB Group Corporate Affairs and Investor Relations Executive added, “With our investment-grade ratings, a net asset value that has grown 2.5-fold in the past decade, and a return on equity of about 10%, several of our institutional investors have reinvested in TDB over the years. This is a testament to their confidence in our track record. We understand that our institutional investors, in this case CNSS, need to cater to the needs of their pensioners and stakeholders, and therefore need a suitable home for their investments, which we are proud to offer.”
About TDB Group
Established in 1985, the Eastern and Southern African Trade and Development Bank (TDB) is an investment-grade African regional development finance group, with the mandate to finance and foster trade, regional economic integration and sustainable development. With an asset base of USD 10 bn, TDB Group has 25 African member states, which alongside non-regional member countries and institutional investors from Africa, Europe and Asia, form TDB’s community of shareholders.
TDB Group counts several subsidiaries and strategic business units including the Trade and Development Bank (TDB), TDB Group Asset Management (TAM), the Trade and Development Fund (TDF), TDB Captive Insurance Company (TCI), the ESATAL fund management company and TDB Academy.
www.tdbgroup.org
About CNSS
More than an institution in charge of social security in the Republic of Djibouti, we have the mission to ensure the social well-being of its affiliates, in line with the spirit of our management. Among others, we have the mission to collect social security contributions to ensure the sustainability of social security for you and future generations. Since the implementation of universal health insurance in December 2014, we have the responsibility to guarantee universal medical coverage for all. We also have the responsibility to ensure the supply of “Made in Djibouti” injectables and solutes produced at Djib Pharma factory for all medical and hospital structures across the country.
