Friday, October 12, 2012

Investor Africa Awards an Ethiopian Admassu Tadesse, President and CEO of the PTA Bank

Ethiopian national Admassu Tadesse, President and Chief Executive of Eastern and Southern African Trade and Development Bank (PTA Bank), has won Investor Africa’s 2012 ‘Up and Coming Future Leader of the Year Award’ in the category of  investment professionals under 45 years of age demonstrating leadership potential.

The Award is presented at Courtyard Marriott Hotel in Tokyo, Japan at the Investor Africa annual award ceremony, which is taking place parallel to the International Monetary Fund / World Bank 2012 Annual Meetings.  “It is a great honour for me and my country to win such a regional award,” he said to after the award.

Africa Investor (Ai) is an investment banking oriented advisory firm, which also supplies a broad range of investment data, research, broadcast and published content to a growing number of international investors with interests in Africa.

Including Admassu, Africa Investor has awarded 15 African business leaders in different categories from various countries. Admassu, 42, has been working in different African countries for the past 20 years has recently moved PTA Bank for five years term from Development Bank of South Africa (DBSA) where he served as deputy president for ten years.

“PTA Bank is performing well over the past five years with equity return of over 10 percent over the past five years,” Admassu told commenting on the performance of the bank which is operating in 18 African countries.

Though many private businesses in Ethiopia has not been actively accessing PTA’s finances mainly due to lack of awareness, the country is 10 percent shareholder of the bank, which is founded in 1985. Meanwhile recently Ethiopian Airlines has secured 15 million US dollars from the bank for Dreamliner plane purchasing as second round financing, while the bank has also approved loan to Access Capital Services Share Company though the process seems to be stuck at some point, according to Admassu.

PTA Bank is currently owned by nineteen members comprising of seventeen members from the Eastern and Southern Africa region, one non-regional member (China) and one Institutional member. According to the information posted on the official website of the bank, the regional member’s shareholding is 87.71 percent while the non-regional shareholding stands at 6.53 percent and the Institutional Shareholding at 5.76 percent.