National Social Security Fund Invests 25.7bn/- in Trade and Development Bank Group

With an investment of over USD 11 million in Class B shares (about 25.7bn/-) the National Social Security Fund (NSSF) has joined the Eastern and Southern African Trade and Development Bank Group (TDB Group) as its 20th institutional shareholder.

TDB Group President Emeritus and Managing Director Admassu Tadesse said: “This year, NSSF Tanzania is the second new institutional investor joining our community of shareholders, over and above other equity capital investment from existing shareholders.

Alongside our sovereign shareholders such as Tanzania, the continued confidence of institutional investors in our ability to deliver on our mandate,”

Institutional investors are keen on investing in companies with growth prospects, success, and strong governance.

For the past few years, TDB’s net profits, assets and equity have consistently been growing, with 5-year compound annual growth rates of 11 per cent, 13 per cent and 15 per cent respectively.

NSSF Director General Masha Mshomba said:  “NSSF’s vision is to be a reliable and sustainable provider of social security services.”

He added:

“Therefore, investing in TDB backs well our strategy to diversify our investment portfolio and put our money in well performing investment opportunities in the region to further realise our vision.”

Sine 2013, approximately 258 million has been invested into TDB’s Class B shares by institutional members such as pension funds, insurance companies, development finance institutions, and special funds including Rwanda’s Agaciro Development Fund, a sovereign wealth fund which joined earlier this week.

TDB Group Executive Corporate Affairs and Investor Relations Mary Kamari said: “We are very pleased that the NSSF has joined TDB Group as a shareholder. It is indeed a strong vote of confidence in our Group.

NSSF joins other pension funds and institutional investors that have invested in TDB in the past 9 years.

According to literature, the difference between Class A shares and Class B shares of a company’s stock usually comes down to the number of voting rights assigned to the shareholder.

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