The Trade and Development Bank of Eastern and Southern Africa (TDB) and the Islamic Corporation for the Development of the Private Sector (ICD) have just sealed a partnership to promote the private sector. The signature of the memorandum of understanding was effective on Tuesday, October 26, 2021.

This agreement is part of strengthening cooperation in the provision of finance and investment to the private sector in their common member states in Eastern and Southern Africa. The agreement establishes a framework for the two institutions to collaborate with the aim of financing eligible transactions in targeted countries sponsored by the private sector. In addition, it provides for collaboration in the development of capital markets through sukuk (trust certificates), structuring and advisory services, as well as further exploration of equity investment opportunities in capital. -shares of TDB.