• Contact
Wednesday, February 1, 2023
  • Login
The African Business - News About African business
  • Home
  • EconomyNew
    Nigeria extends deadline to swap old currency notes by 10 days

    Nigeria extends deadline to swap old currency notes by 10 days

    Shocking IMF report reveals Angola and Ethiopia to surpass Kenya as top economies in Sub-Saharan Africa

    Shocking IMF report reveals Angola and Ethiopia to surpass Kenya as top economies in Sub-Saharan Africa

    Ethiopia and the World Bank sign financing agreements worth $745 million

    Ethiopia and the World Bank sign financing agreements worth $745 million

    Trending Tags

  • Business
    World’s Richest Rankings: Aliko Dangote maintain his position as Africa’s richest man

    World’s Richest Rankings: Aliko Dangote maintain his position as Africa’s richest man

    Global tech billionaires eye Zambia’s electric vehicle battery mines

    Global tech billionaires eye Zambia’s electric vehicle battery mines

    Africa will have 57 million pay TV subscribers by 2028, report

    Africa will have 57 million pay TV subscribers by 2028, report

    Africa startups defy funding slump as debt financing fuels growth

    Africa startups defy funding slump as debt financing fuels growth

    Port of Maputo achieves new handling record, sees soaring chrome throughput

    Port of Maputo achieves new handling record, sees soaring chrome throughput

    Court told Anglo turned blind eye to Zambian lead poisoning

    Court told Anglo turned blind eye to Zambian lead poisoning

    Ethiopian Airlines set to fly to Atlanta

    Ethiopian Airlines set to fly to Atlanta

    Angola: Poor Management of the Petroleum Sector with Effects on Declining Production

    Angola Sonangol plans to list on Angolan stock exchange by 2027

    Nigeria artists conquer the NFT marketplace in Africa

    Nigeria artists conquer the NFT marketplace in Africa

  • Finance
    Nigeria launches payments card program to rival Visa and Mastercard

    Nigeria launches payments card program to rival Visa and Mastercard

    Mastercard and ZoodPay join forces to launch the first virtual installment card across EEMEA

    Mastercard and ZoodPay join forces to launch the first virtual installment card across EEMEA

    MoneyGram joins forces with BOTIM to launch international money transfer to over 200 countries

    MoneyGram joins forces with BOTIM to launch international money transfer to over 200 countries

    There was a 25% increase in finance app installs across Africa between 2021 and 2022

    There was a 25% increase in finance app installs across Africa between 2021 and 2022

    Yellow Card expands payment feature across Africa

    Yellow Card expands payment feature across Africa

    Government starts payment of $674,5 trillion matured securities

    Government starts payment of $674,5M matured securities

    South African rand steady with investor focus on Fed minutes

    South African rand steady with investor focus on Fed minutes

    South Africa recently declared bitcoin and other cryptocurrencies to be financial products

    South Africa recently declared bitcoin and other cryptocurrencies to be financial products

    Angola banks entry into local Bourse gives credibility to economy

    Angola banks entry into local Bourse gives credibility to economy

  • Opinion
  • Lifestyle
  • Sports
  • Green Economy
No Result
View All Result
  • Home
  • EconomyNew
    Nigeria extends deadline to swap old currency notes by 10 days

    Nigeria extends deadline to swap old currency notes by 10 days

    Shocking IMF report reveals Angola and Ethiopia to surpass Kenya as top economies in Sub-Saharan Africa

    Shocking IMF report reveals Angola and Ethiopia to surpass Kenya as top economies in Sub-Saharan Africa

    Ethiopia and the World Bank sign financing agreements worth $745 million

    Ethiopia and the World Bank sign financing agreements worth $745 million

    Trending Tags

  • Business
    World’s Richest Rankings: Aliko Dangote maintain his position as Africa’s richest man

    World’s Richest Rankings: Aliko Dangote maintain his position as Africa’s richest man

    Global tech billionaires eye Zambia’s electric vehicle battery mines

    Global tech billionaires eye Zambia’s electric vehicle battery mines

    Africa will have 57 million pay TV subscribers by 2028, report

    Africa will have 57 million pay TV subscribers by 2028, report

    Africa startups defy funding slump as debt financing fuels growth

    Africa startups defy funding slump as debt financing fuels growth

    Port of Maputo achieves new handling record, sees soaring chrome throughput

    Port of Maputo achieves new handling record, sees soaring chrome throughput

    Court told Anglo turned blind eye to Zambian lead poisoning

    Court told Anglo turned blind eye to Zambian lead poisoning

    Ethiopian Airlines set to fly to Atlanta

    Ethiopian Airlines set to fly to Atlanta

    Angola: Poor Management of the Petroleum Sector with Effects on Declining Production

    Angola Sonangol plans to list on Angolan stock exchange by 2027

    Nigeria artists conquer the NFT marketplace in Africa

    Nigeria artists conquer the NFT marketplace in Africa

  • Finance
    Nigeria launches payments card program to rival Visa and Mastercard

    Nigeria launches payments card program to rival Visa and Mastercard

    Mastercard and ZoodPay join forces to launch the first virtual installment card across EEMEA

    Mastercard and ZoodPay join forces to launch the first virtual installment card across EEMEA

    MoneyGram joins forces with BOTIM to launch international money transfer to over 200 countries

    MoneyGram joins forces with BOTIM to launch international money transfer to over 200 countries

    There was a 25% increase in finance app installs across Africa between 2021 and 2022

    There was a 25% increase in finance app installs across Africa between 2021 and 2022

    Yellow Card expands payment feature across Africa

    Yellow Card expands payment feature across Africa

    Government starts payment of $674,5 trillion matured securities

    Government starts payment of $674,5M matured securities

    South African rand steady with investor focus on Fed minutes

    South African rand steady with investor focus on Fed minutes

    South Africa recently declared bitcoin and other cryptocurrencies to be financial products

    South Africa recently declared bitcoin and other cryptocurrencies to be financial products

    Angola banks entry into local Bourse gives credibility to economy

    Angola banks entry into local Bourse gives credibility to economy

  • Opinion
  • Lifestyle
  • Sports
  • Green Economy
No Result
View All Result
The African Business - News About African business
No Result
View All Result
Home Business

Rwanda’s Agaciro becomes TDB Group shareholder with over $8m capital stock investment

TAB by TAB
18/10/2022
in Business
0
Rwanda’s Agaciro becomes TDB Group shareholder with over $8m capital stock investment
0
SHARES
2
VIEWS
Share on FacebookShare on Twitter

Rwanda’s Agaciro becomes TDB Group shareholder with over $8m capital stock investment

Agaciro Development Fund (AgDF) Rwanda’s sovereign wealth fund, has invested over $8 million in the capital stock of the Eastern and Southern African Trade and Development Bank (TDB), becoming its latest institutional shareholder.

Related posts

World’s Richest Rankings: Aliko Dangote maintain his position as Africa’s richest man

World’s Richest Rankings: Aliko Dangote maintain his position as Africa’s richest man

31/01/2023
2
Global tech billionaires eye Zambia’s electric vehicle battery mines

Global tech billionaires eye Zambia’s electric vehicle battery mines

30/01/2023
1

Admassu Tadesse, Managing Director, TDB Group: “We salute Agaciro Development Fund as the first sovereign wealth fund to invest in TDB Group equity capital. This investment illustrates the growing interest and confidence of institutional investors in TDB’s opportunities. We are proud to be able to continue attracting and making African capital work for Africa’s development, while delivering competitive returns.”

Gilbert Nyatanyi, CEO, Agaciro Development Fund: ”Since its inception, Agaciro has principally been reliant on receiving voluntary contributions from Rwandans and friends of Rwanda. With the recent phasing out of the contributions Agaciro is rebalancing and diversifying its investments be it in terms of asset classes as geographically in order to further grow the fund with return on investments. Investing in TDB fits perfectly into this approach.”

In 2013, TDB introduced Class B shares to mobilize capital from institutional investors. This asset class has drawn a lot of interest from investors because of the Bank’s consistent capital growth, impact, and solid profit base. TDB’s net asset value has grown to $13,846 as of 2021, at a 5-year compound annual growth rate (CAGR) of about 7%, and its dividend yield has averaged about 3% over the past 5 years. Since its inception, close to 258 million has been invested in the Class B shares by institutional investors. The Bank’s shareholding comprises 23 member states, two non-regional members countries, and with Agaciro Development Fund,19 institutional shareholders.

Mary Kamari, Executive Corporate Affairs and Investor Relations, TDB Group: ”It is an honor for us at TDB Group to welcome Agaciro Development Fund in its family of institutional shareholders. With this new investment, and with Rwanda as one of our founding member states, AgDF becomes our second Rwandan institutional shareholder after the Rwanda Social Security Board (RSSB) and we are proud of the sustained confidence in TDB Group to deliver results.”

Agaciro joins a group of 18 other institutional investors from Africa and the rest of the world, mainly Europe and Asia, which include pension funds, insurance companies, development finance institutions, special funds and now, a sovereign wealth fund. With an estimate of over $600 billion in pension fund assets in Africa, organizations like RSSB and Agaciro Development Fund have the opportunity to diversify their portfolios by investing in Class B shares. As TDB expands its geographic footprint, it remains committed to providing innovative financing solutions, crowding in institutional capital and promoting integrated sustainable development for the region.

Rwanda’s Agaciro becomes TDB Group shareholder with over $8m capital stock investment

Source: African Business Communities
Previous Post

OPEC Fund provides $20m loan to enhance social and economic infrastructure, improve livelihoods in Ghana

Next Post

Angola ranks first globally for the percentage of women owning businesses, according to a new survey

Next Post
Angola ranks first globally for the percentage of women owning businesses, according to a new survey

Angola ranks first globally for the percentage of women owning businesses, according to a new survey

RECOMMENDED NEWS

Rising gas prices: A crisis in the making, By Dakuku Peterside

Rising gas prices: A crisis in the making, By Dakuku Peterside

1 year ago
8
African Development Bank Group to launch new Trust Fund for the circular economy

African Development Bank Group to launch new Trust Fund for the circular economy

10 months ago
3
A top Nigerian Bank has just sold 100% of its shares after months of complications

A top Nigerian Bank has just sold 100% of its shares after months of complications

3 months ago
2
Twitter is dragging Elon Musk’s billionaire friends into its $44 billion legal battle with a flurry of subpoenas

Twitter is dragging Elon Musk’s billionaire friends into its $44 billion legal battle with a flurry of subpoenas

6 months ago
2

BROWSE BY CATEGORIES

  • Business
  • Economy
  • Finance
  • Green Economy
  • Lifestyle
  • Opinion
  • Sports
  • Uncategorized

Ads

Categories

  • Business
  • Economy
  • Finance
  • Green Economy
  • Lifestyle
  • Opinion
  • Sports
  • Uncategorized
The African Business – News About African business

We bring you the best Premium news about African Business.

Follow us on social media:

Recent News

  • World’s Richest Rankings: Aliko Dangote maintain his position as Africa’s richest man
  • Nigeria launches payments card program to rival Visa and Mastercard
  • Develop enabling legislation to fuel the cannabis sector to new highs and boost the economy

Category

  • Business
  • Economy
  • Finance
  • Green Economy
  • Lifestyle
  • Opinion
  • Sports
  • Uncategorized

Legal Information

Terms and Conditions
Privacy Policy
Complaints Book

  • Contact

© 2021 The African Business

No Result
View All Result
  • Home
  • Economy
  • Business
  • Finance
  • Opinion
  • Lifestyle
  • Sports
  • Green Economy

© 2021 The African Business

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In