By BUUMBA CHIMBULU
FINANCE Minister, Bwalya Ng’andu, is this Thursday set to take up the chairmanship of the Trade and Development Bank (TDB) board whose 35th Annual General Meeting will take place in Zambia.
Dr Ng’andu will take up the chairmanship from Uganda’s Minister of Finance, Planning and Economic Development, Matia Kasaija.
He will serve until the next Board of Governors’ Annual General Meeting in 2020.
The meeting will be held in Livingstone.
Commenting on the meeting, Dr Ng’andu said a lot was expected from TDB to help resolve the economic and trade challenges that some members countries faced in energy, industrialization, and capital markets development.
Speaking when he met TDB president Admassu Tadesse, Dr Ng’andu said that Zambia was ready to host the meeting.
“The phenomenal interest of the international community in African capital investments is an opportunity for institutions like TDB to strengthen their cooperation with member states,” he said.
The Minister expressed Zambia’s readiness to host various delegations from the 22 member states and institutions shareholders from within the African continent and overseas.
At the same meeting, Dr Ng’andu took the opportunity to brief Mr. Tadesse on the impact of last rainy season’s drought on energy generation in Zambia and the neighbouring countries.
In response, Mr Tadesse said Zambia was one of the top five beneficiaries of TDB support in various sectors of the economy.
Mr Tadesse told the Minister that a huge financial dividend would be announced to the institution’s shareholders, Zambia included, during the event in Livingstone.
“Zambia was chosen to host this year’s Board of Governors’ Annual General Meeting because the strategic role that it has played in the history of the bank,” he said.
Mr Tadesse said being an investment grade institution, TDB was now in the process of examining various financing vehicles to support green energy investments at both regional and sovereign levels.