Djibouti's CNSS makes 3rd Equity Investment in TDB



Djibouti’s Caisse Nationale de Securité Sociale (CNSS) has invested an additional USD 5.4 million in the capital stock of the Eastern and Southern African Trade and Development Bank (TDB), making it its third investment in the Bank since 2020. 

Overall, CNSS has invested over USD 15 million in Class B shares and the value of its shares since its first investment has increased by 26%.

In 2013, TDB launched its Class B shares, specifically designed to mobilize capital from institutional investors. The Bank now boasts over 20 institutional shareholders, including pension funds, a sovereign wealth fund, insurance companies, and development finance institutions from across the continent, Europe, and Asia.

 

Class B shares have attracted much interest from institutional investors, with USD 284 million invested to date, on the back of steady growth in TDB assets and impact in member states.

Admassu Tadesse, TDB Group President and Managing Director said: “Investment in TDB’s risk capital is a unique opportunity for institutional shareholders in our region to benefit from a meaningful triple bottom-line value proposition than is possible to obtain elsewhere in the world. 

"We take pride in delivering attractive returns for our investors and leveraging our equity capital to drive impact across our member states, including in Djibouti where we have financed transactions in several high impact sectors including healthcare, manufacturing and others.”

Deka Ahmed Robleh, CNSS CEO said that "CNSS is investing in the capital of TDB Group for the third time, demonstrating our satisfaction as it pertains to the achievement of its objectives in terms of annual results. This investment’s performance has been remarkable and coincides with our objectives in terms of returns. 

"By increasing our stake in the capital of TDB, not only are we growing our resources in this asset class, but also, we support a financial institution which aligns perfectly with our values and ESG impact. We are delighted to join other leading African pension funds and insurance companies by supporting TDB Group, which delivers attractive returns and has a positive impact on the economic, social and environmental development of Djibouti and of the region.”

 

Mary Kamari, TDB Group Corporate Affairs and Investor Relations Executive added, “With our investment-grade ratings, a net asset value that has grown 2.5-fold in the past decade, and a return on equity of about 10%, several of our institutional investors have reinvested in TDB over the years. 

"This is a testament to their confidence in our track record. We understand that our institutional investors, in this case CNSS, need to cater to the needs of their pensioners and stakeholders, and therefore need a suitable home for their investments, which we are proud to offer.”

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