The East African Development Bank (EADB) is a regional development finance institution located in Kampala, Uganda with the objective of promoting development in the member countries of the East African Community. The current member states of the EADB are Kenya, Uganda, Rwanda, and Tanzania including other development and commercial financial institutions. The bank was initiated in 1967 and has been in operation since the development of its charter. The bank's mission is to advance sustainable socio-economic developments in East Africa through offering financial solutions, advisory expertise, and supporting services. Under the new charter, the bank's role and mandate were reviewed, and its operational scope expanded. Under its expanded operational scope, the bank offers a broad range of financial services in the member states. Its main objective is to strengthen socio-economic development and regional integration.

Ownership

The ownership of the EADB as of December 2022 is detailed in the table below.

{| class="wikitable sortable" style="margin-left:auto;margin-right:auto"

|+ East African Development Bank Stock Ownership

|-

! style="width:2em;" |Rank !!Name of Owner!!Percentage Ownership

|-

| 1 || Government of Kenya || 26.32

|-

| 2 || Government of Uganda || 26.32

|-

| 3 || Government of Tanzania || 26.32

|-

| 4 || Government of Rwanda || 9.26

|-

| 5 || African Development Bank || 8.6

|-

| 6 || Netherlands Development Finance Company || 2.16

|-

| 7 || German Investment Corporation || 0.58

|-

| 8 || Consortium of Yugoslav Institutions || 0.19

|-

| 9 || SBIC - Africa Holdings || 0.17

|-

| 10 || NCBA Group Plc - Nairobi || 0.03

|-

| 11 || Nordea Bank - Sweden || 0.03

|-

| 12 || Barclays Bank - London || 0.01

|-

| 13 || Standard Chartered Bank - London || 0.01

|-

| || Total||100.0

|-

|}

In December 2013, the bank's shareholders' equity totaled approximately US$166.03 million. In January 2013, the African Development Bank injected US$24 million into EADB in new equity, bringing its shareholding to 15 percent. , the EADB generated almost 6.6 million US$ in profit, while in 2021 it generated almost 7.9 million US$, having an 443 million US$ basic earnings per share. The council is considered the supreme governing body and meets regularly to review and analyze reports submitted by the Board of Directors.

  • Advisory Panel

The Advisory Panel of the East African Development Bank is composed of distinguished individuals with extensive expertise in international and development financing. The panel also provides guidance to the Bank on the best effective strategies to achieve its goals and objectives.

Awards

The EADB is the first regional bank to be established in Sub-Saharan Africa with its initiation in 1967. Moreover, in November 2014, the Association of African Development Finance Institutions ranked EADB, "the best performing development finance institution in Africa" for the second consecutive year, with an AA rating. The bank was ranked the best out of 33 institutions that submitted to the evaluation. In 2015, the East African Development Bank was the first East African institution to obtain an investment grade rating of Baa3 by Moody's Investors Services.

Branch network

The headquarters of the bank are located in Uganda's capital, Kampala. As of December 2022, the East African Development Bank has three other registered offices and principal places of business, one each in the East African capitals of Nairobi, Kigali, and Dar-es-Salaam. A branch will be established in Bujumbura as soon as Burundi joins the bank.

See also

  • World Bank
  • PTA Bank
  • Rwanda Development Bank
  • Uganda Development Bank

References

  • EADB head under probe over mismanagement claims