Economy

PTA Bank headquarters soon resuming its activities in Burundi

The Signing of the agreement between (from left to right) PTA CEO and Alain Aimé Nyamitwe, the Burundi Foreign Affairs Minister

The Signing of the agreement between (from left to right) PTA CEO and Alain Aimé Nyamitwe, the Burundi Foreign Affairs Minister

The Eastern and Southern Trade and Development Bank-PTA, the second largest Bank in Africa after the African Development Bank- AfDB, will restart its activities in Burundi after 23 years of absence. The signing ceremonies took place on 11 August between Alain Aimé Nyamitwe, the Minister of Foreign Affairs and Tadesse Admassu, the PTA President and CEO.

For Alain Aimé Nyamitwe, the agreement means a strong partnership between Burundi Government and PTA Bank, before adding that it proved security improvement after PTA closed down in 1993. He believes that Burundians will surely benefit from it.

“PTA Bank will work hand in hand with other commercial banks in various domains,” he said.

According to the PTA Bank Executive Officer, Burundians will gain much more for the Bank will finance short and long term projects as this was done for the Burundi Backbone System- BBS that fixed and connected cables to improve internet connection throughout the country. “It is an open-process but it is up to Burundians to take advantage of it,” he stated.

PTA Bank boosts investments in agriculture, trade, industry, infrastructure, energy and tourism, among others on a commercial basis and sustainability principles.

Headquartered in Bujumbura (Burundi) with regional branches in Nairobi (Kenya), Harare (Zimbabwe) and Ebene (Mauritius). PTA Bank’s current shareholders include: Burundi, Comoros, the Democratic Republic of Congo, Djibouti, Egypt, Eritrea, Ethiopia, Kenya, Malawi, Mauritius, Rwanda, Seychelles, Somalia, Sudan, Uganda, Zambia and Zimbabwe.

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