Trademark East Africa (TMEA) And The Eastern And Southern African Trade & Development Bank (TDB)

Sign An MOU To Collaborate On Supporting Trade In Eastern And Southern Africa.

TDB and TMEA will work together towards developing trade supportive  infrastructure in the region; 

Institutions will collaborate on supporting information technology innovations  in trade, logistics and transportation; 

Via trade, institutions will contribute to combatting the effects of the COVID 19 pandemic. 

TradeMark East Africa (TMEA) and the Eastern and Southern  African Trade & Development Bank (TDB) have today signed a Memorandum of  Understanding (MoU) that establishes a framework for collaboration ultimately seeking to boost trade in the region served by both institutions.  

By leveraging the two institutions’ expertise in project development and finance,  TMEA and TDB will endeavour to jointly pursue targeted investments in trade logistics  and production systems, including roads, ports and industrial parks projects, and to  facilitate structured trade finance transactions of commodities. 

Moreover, institutions will work to collaborate in carrying-out analytical and advisory  services aiming, among other things, to support the digitization of trade and  investment processes as well as information technology innovations in trade, logistics  and transportation. Additionally, the MoU provides for the facilitation of innovation  and capacity development for regional businesses, so as to enable them to  effectively engage in global and regional trade transactions with high development  impact. 

The agreement will also enable TMEA and TDB to jointly contribute to mitigating the  adverse effects of the COVID-19 pandemic in the region, via enhanced regional  trade, trade supportive infrastructure, and digitalization of trade. 

Speaking during the MoU signing TMEA Chairman Amb. Erastus Mwencha hailed the  collaboration as one that will greatly support regional trade. “Today, two of the  leading institutions that heavily support the trade agenda in Eastern and Southern  Africa join forces to work more closely together. There is no doubt that the huge  trade potential that our region holds can be further unlocked by working together to  address infrastructural, technological and financial barriers that slow down regional  trade” said Amb. Mwencha.

INTEGRATING & ADVANCING THE REGION 

On his part, TDB Group MD & CEO Admassu Tadesse noted that the challenges posed  by the COVID-19 pandemic and other pre-existing trade inhibitors call for a  determined approach by leading trade actors in the region. “We indeed need  concerted efforts to build forward better and stronger. The MoU we are signing today  will synergize our strengths and expertise, to boost the role of trade as a catalyser of  triple bottom-line impact in the region we serve.”  

TDB Corporate Affairs and Investor Relations Executive Mary Kamari added that “We look forward to collaborate with TMEA to enhance trade in the region we both serve,  in line with the ambitions set forth by the African Continental Free Trade Area (AfCFTA) agenda”. 

Please follow and like us:
close

Enjoy this blog? Please spread the word :)

Scroll to Top

We are committed to Africa

Unlike many global publications, for nearly a decade we have been committed to showing a complete picture of Africa – not just a single story.  Offended by one-sided coverage of wars, disasters and disease, the founders of Africa.com created a website that provides a balanced view of Africa – current events, business, arts & culture, travel, fashion, sports, information, development, and more.

Will you support us?