Rwanda’s Minister of Finance and Financial Planning Yusuf Murangwa has been confirmed as the brand new Chairperson of the Governing Council of the East African Growth Financial institution (EADB), succeeding Uganda’s Matia Kasaija.
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The Governing Council is the supreme governing physique of the East African Growth Financial institution, as mandated by the Financial institution’s Constitution.
The EADB was established in 1967 beneath the treaty of the then East African Cooperation. At this time, the financial institution is owned by the 4 member states — Kenya, Uganda, Tanzania and Rwanda — alongside different growth and business monetary establishments.
Uganda’s Everlasting Secretary on the Ministry of Finance, Planning and Financial Growth, Ramathan Ggoobi, was appointed Chairperson of the Board of Administrators for a two-year time period, taking up from Tanzania’s Everlasting Secretary within the Ministry of Finance Dr Natu Mwamba.
The brand new management was introduced through the Financial institution’s Governing Council assembly held in Kampala this week.
Through the assembly, the financial institution unveiled a $13 million fund that may assist youth and girls.
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Youth fund launched
The newly unveiled $13 million fund is devoted to supporting youth- and women-led enterprises throughout the East African area, in a transfer aimed toward deepening inclusive financing within the area.
The fund is anchored in EADB’s 2024–2028 Strategic Plan and the financial institution’s mandate to advertise sustainable and inclusive socio-economic growth amongst its member states.
Outgoing Governing Council Chairperson Matia Kasaija stated the institution of the fund is a step in direction of scaling enterprises led by youth and girls via prudent and focused financing that shall be channelled via EADB’s associate monetary establishments.
“Whereas a good portion of the fund shall be financed from the Financial institution’s income, we now have instructed administration to proceed efforts to mobilise further sources from growth companions to broaden its affect and guarantee long-term sustainability,” he defined.
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The announcement comes because the financial institution reported sturdy monetary outcomes, posting a 51 per cent improve in profitability. Revenue earlier than tax rose to $16.93 million for the 12 months ending December 2025, up from $11.20 million within the earlier monetary 12 months.
The financial institution additionally recorded important development in its lending operations, with disbursements rising by 140 per cent and excellent loans rising by 52 per cent on the finish of the 12 months, underscoring improved mortgage portfolio efficiency and operational effectivity.
Kasaija attributed the sturdy efficiency to the Financial institution’s enhanced capability to mobilise capital and deploy modern financing options throughout numerous sectors.
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“This sturdy efficiency is a testomony to EADB’s enhanced capability to mobilise sources and deploy modern financing options. Up to now 12 months, we supported a extra numerous vary of initiatives throughout key sectors in our member states,” he stated.
