Badea Becomes Tdb’S 13Th Institutional Shareholder
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NEWSLETTER 2019 I ISSUE 1 BADEA BECOMES TDB’S 13TH INSTITUTIONAL SHAREHOLDER FINANCING AND PARTNERSHIPS FOR GROWTH USAID’s Power Africa and TDB’s President and Chief Executive Admassu TDB to Increase Access to Tadesse at AfDB’s Inaugural AIF 2018: Energy in Africa “Scale-Up, Speed-Up and Synergize” MEET Dr. Frannie Léautier, TDB COO and Asset Management Executive Director Dr. David Bamlango, TDB General Counsel and Senior Executive, Legal Services SPECIAL FEATURES The Quest for Sustainable Renewable Energy in Uganda Driving African Agricultural Transformation through Research and Education EDITORIALTABLE OF CONTENTS 06 08 ON THE COVER From left to right: Ms. Mary Kamari, TDB Corporate Affairs and Investor Relations Executive, Mr. Admassu Tadesse, TDB President and Chief Executive, and H.E. Dr. Sidi Ould Tah, BADEA Director General, during BADEA’s Membership and Subscription Agreement signing ceremony with TDB (Photo credit: AfDB Group) INSIDE COVER IMAGE 06: Mr. Admassu Tadesse, TDB President and Chief Executive, and H.E. Dr. Sidi Ould Tah, BADEA Director General, elevating the institutions’ partnership to new heights (Photo credit: AfDB Group) IMAGE 08: Kwale International Sugar Company (KISCOL), one of many TDB-financed agribusiness ventures (Photo credit: Kwale International Sugar Company) TDB Newsletter is published by TDB’s Corporate Affairs and Investor Relations Department PAGE 3 IMAGE 04: Dr. Frannie Léautier, TDB COO and Asset Management Executive Director 197 Lenana Place, Lenana Road IMAGE 13: Powah Hub solar kiosk financed as part of TDB’s CSR Programme (Photo credit: PO Box 48596 - 00100 Nairobi, Kenya Powah Limited) Tel: +254 732 192 000 IMAGE 15: 759 km railway connecting the Port of Djibouti to Addis Ababa (Photo credit: Reuters) Email: [email protected] IMAGE 17: China-Africa Inter Bank Association (CAIBA) Inauguration Ceremony IMAGE 21: From left to right: Dr. Benedict Oramah, African Export-Import Bank President and DESIGN AND LAYOUT Chairman of the Board of Directors, Mr. Tony Elumelu, Heirs Holdings Chairman, and Mr. Admassu Tadesse, TDB President and Chief Executive, during the Intra- Gecko Media Interactive African Trade Fair 2018 [email protected] 2 TDB NEWSLETTER • No 1/2019 www.tdbgroup.org TABLE OF CONTENTS 04 13 15 17 21 IN-FOCUS INTERVIEW IN-FOCUS INTERVIEW 04 Meet Dr. Frannie Léautier, 16 Meet Dr. David Bamlango, COO and Asset Management Executive Director General Counsel and Senior Executive, Legal Services MOBILIZING EQUITY FINANCING AND PARTNERSHIPS FOR GROWTH 06 BADEA Becomes TDB’s 13th Institutional Shareholder 17 CAIBA is Established 18 USAID’s Power Africa and TDB to Increase Access to SUSTAINABLE DEVELOPMENT Energy in Africa 08 Driving African Agricultural Transformation through Research and Education 19 TDB Signs a US$ 460 Million Syndicated Term Loan Facility 13 Supporting Livelihoods via Solar Technology in Uganda 20 “Scale-Up, Speed-Up, and Synergize” 21 Jump-Starting African Industrialization through the INFRASTRUCTURE BUILDING AfCFTA and African RECs 14 The Quest for Sustainable Renewable Energy in Uganda 22 Diversifying Sources of Financing 15 Ethiopian Regional Interconnectivity through Rail 15 Renewable Energy in Djibouti www.tdbgroup.org No 1/2019 • TDB NEWSLETTER 3 IN-FOCUS INTERVIEW Foundation. TDB was one of the targeted institutions, MEET TDB’S NEW COO: given that we shared a similar footprint in Africa, as ACBF covered 54 African countries and therefore had DR. FRANNIE LÉAUTIER in common all of TDB’s Member States. In addition, the President of the Development Bank of Southern Africa (DBSA) was the Chair of the Executive Board of ACBF, so when one of the leading talents of DBSA, Mr. Admassu Tadesse, TDB is proud to present its new COO and Asset Management was selected to become President of TDB, I was encouraged to see how we could develop the Executive Director, Dr. Frannie Léautier, a professional, an kind of partnership we were building with African academic, and an entrepreneur with long-standing experience institutions to also include the activities of TDB. Furthermore, ACBF was headquartered in at top executive and board of director-levels. For over 25 Harare where TDB has a regional office and we years, Dr. Léautier has been in the business of leading and would often bump into each other in meetings and seminars around development issues. So, what transforming organisations in the private, public and not- struck me at that time was the balance between the commercial and developmental aspects of TDB’s for-profit spheres, including in advanced and emerging work and how the policy environment influences economies around the globe. the ability to achieve sustainable outcomes with such an approach. I noted at the time the role of TDB to render commercial funding relevant for development, an approach which predated the current conversations on blended finance and which Q. With your multi-faceted experience as was, hence, quite prescient. a development finance professional, an So naturally, when TDB was looking for an academic and an entrepreneur, broadly- independent non-executive director (NED), I put speaking what is your assessment of TDB? in my application and was selected as the first independent director at the Bank. I was at the time FL: I have been working with the Trade and leading a company I had founded, the Fezembat Development Bank (TDB) under different capacities Group, which was focused on risk management for close to five years, and perhaps the best way to and leadership development and serving on the respond to your question is to engage on what has TDB board as chair of the Remuneration and interested and impressed me at TDB in the various Nominations Committee – REMCO and Vice Chair engagements I have had with the Bank. of the Board of Directors. I first got to know about TDB when I was at Seeing the Bank introduce world-class risk the World Bank, as an infrastructure executive and management procedures and incentive systems to also as a Vice President. This was in the context of encourage performance was quite rewarding as examining the role of regional African institutions these were the major aspects driving the managed which we deemed critical to secure Africa’s growth strategy of the Bank, and which became development. At the time we were focused on largely responsible for the successive upgrades by developing the necessary policies to attract trade ratings agencies. and investment to Africa and building successful Of course while at the African Development models for investing in project and infrastructure “Having a bank like TDB Bank (AfDB), I got to know TDB from a different finance. The work I was leading at the World Bank in Africa, that (is) owned by perspective – not as an important stakeholder for to develop an infrastructure strategy gave me development as when at the World Bank, nor as knowledge about and put me in direct relation with Member States, yet open to a partner for policy reform and transformation as the Bank. capital investment by non- when at ACBF, nor as an entity whose governance Similarly, when we were developing trade was transforming and for which I had oversight of as indicators and tracking the progress of trade sovereigns, (is) critical to when I was an NED, but – from the perspective of a reforms, we were assessing the differential role domesticate policy reforms shareholder, as AfDB holds both Class A and Class of bilateral and multilateral trade agreements. and crowd-in investments B shares at TDB. Having a bank like TDB in Africa, that was owned It sort of makes complete sense from a 360 by Member States, yet open to capital investment and trade relations that degrees point of view, to now come and lead TDB by non-sovereigns, was critical to domesticate underpin the success of from the inside as its Chief Operating Officer policy reforms and crowd-in investments and (COO), a position I could not resist applying for trade relations that would underpin the success of reforms undertaken, thereby when it was advertised, especially given the chance reforms undertaken, thereby generating the levels generating the levels of such a role presented to work hand in hand with of economic growth necessary for transforming Admassu Tadesse, to support his vision for the Bank people’s lives. economic growth necessary and see it through complete execution. Furthermore, in the period where I was leading for transforming people’s the transformation of the African Capacity Building Q. Can you tell us more about what TDB is Foundation (ACBF) as its Executive Secretary, I was lives.” doing in favor of SDGs and Agenda 2063? seeking to increase African stakeholdership to the 4 TDB NEWSLETTER • No 1/2019 www.tdbgroup.org IN-FOCUS INTERVIEW FL: The Agenda 2063 is a plan that Africans have contribute to the SDGs. As a member of needs of our member countries, to launch the kinds come out with to put in place the kind of long-term International Development Finance Club (IDFC), of management services and platforms that would vision we need for the next fifty years and support TDB tracks and reports on many of these indicators, be most suitable. the design and execution of policy and investment as it also does through its portfolio management programs that would transform Africa. activities and environmental and social governance Q. Despite operating in a challenging It took Denmark 200 years to get to where it is matters. environment, with commodity prices still not as an advanced economy with good governance recovered, lower FDI inflows and trade flows, and a superior quality of life. In the case of South Q. In addition to fulfilling the functions TDB has improved its credit rating, delivered Korea, it took 60 years to reconstruct itself and of Chief Operating Officer, your role also solid financial results, and exceeded become an innovative nation.