Media Contacts:
Anne-Marie Iskandar
Senior Communications Officer
Corporate Affairs and Investor Relations
Trade and Development Bank
Anne-Marie.Iskandar@tdbgroup.org
Frankfurt, January 2024 – The Eastern and Southern African Trade and Development Bank Group (TDB Group) is honoured to have been recognized as ‘Best Trade Finance Bank in Mauritius’, host to one of the Group’s principal offices, and globally, for the second year in a row, as ‘Best Bank for Trade Finance in Emerging Markets’ in Global Finance’s World’s Best Trade Finance Providers 2024 Awards.
This recognition comes on the heels of TDB Group being awarded the ‘Outstanding Leadership in Sustainable Finance by a Multilateral Institution’ and ‘Outstanding Leadership in Sustainable Project Finance’ by Global Finance in 2023 and affirms its commitment to addressing trade finance shortages in a region marked by economic complexities.
Joseph D. Giarraputo, publisher and editorial director of Global Finance, commented on the industry’s response to challenges, stating, “Faced with a challenging economic and geo-political environment and shifting trade flows has led to a greater reliance on digitalization and emerging technologies as banks and their corporate clients seek surety in a time of transition.”
In 2023, TDB’s trade finance operations focused its efforts on financial services, agribusiness and energy access, which allowed its member states to secure the sourcing and export of strategic commodities via continued trade flows in hard currency, as well as specialized equipment to support key development projects across several sectors. Alongside the impact of TDB Group’s trade fund, ESATF, TDB’s tailored solutions contribute significantly to supporting essential trade activities, fostering economic growth, and aiding the sustainable development of its member states.
Over the years, the Bank’s commitment to impact, resilience, sustainability, and innovation has garnered several accolades from Global Trade Review (GTR), African Banker Awards, Global Finance, Trade Finance Global (TFG) and others. TDB’s steady progress, with an asset base of about USD 9.5 billion, exemplifies our impact in regional development.
These accolades underscore TDB’s unwavering commitment to positive change through trade finance, as well as project finance to step-up impact, reach and sustainability. TDB Group was rolled out in 2020 comprising TDB, Trade and Development Fund (TDF), the Eastern and Southern Africn Trade Fund (ESATF), TDB Captive Insurance Company (TCI) and the TDB Academy. As the Group expands regionally and diversifies offerings, it remains steadfast in contributing significantly to the region’s economic growth while addressing the evolving needs of the global trade landscape.
About TDB
Established in 1985, the Eastern and Southern African Trade and Development Bank (TDB) is a regional development finance institution with investment-grade ratings and assets totaling USD 8.4 billion. TDB serves 25 economies in its region, with the mandate to finance and foster trade, regional economic integration, and sustainable development.
TDB is part of TDB Group, which also comprises the Trade and Development Fund (TDF), Eastern and Southern African Trade Advisers Limited (ESATAL), TDB Captive Insurance Company (TCI), and the TDB Academy.
