History

Eastern and Southern African Trade and Development Bank (TDB) has identified substantial additional requirements for trade finance - with attractive risk/return characteristics - in order to support trade and accelerate economic development, in what is the fastest-growing region in the world.

In 2014 the Bank conducted a competitive tender for an experienced manager of trade finance investment funds and selected GML Capital as its preferred partner to establish a trade finance investment fund domiciled in Mauritius, managed by ESATAL, the Fund Manager.

The Fund, Eastern and Southern African Trade Fund (ESATF), has been established to provide trade financing for exporters and importers domiciled in the Tripartite Region, an emerging economic bloc formed of members from three regional economic communities: the Common Market for Eastern and Southern Africa (COMESA), the East African Community (EAC) and the Southern Africa Development Community (SADC).

The Tripartite Region:

  • 27 member countries
  • 54% of GDP of the African Continent
  • Combined GDP of USD 1.3 trillion
  • Combined population of 683 million
  • 58% of the population of the African Continent