The East African Development Bank (EADB) has announced the establishment of a U$13 million fund aimed at supporting youth and women-led enterprises across East Africa, as the regional lender unveiled a new leadership team during its Governing Council meeting held in Kampala, Uganda.
The initiative is part of EADB’s 2024–2028 Strategic Plan and is expected to strengthen inclusive financing and expand access to capital for underserved entrepreneurs in the region.
The announcement came as the Bank reported strong financial performance for the year ending December 2025, registering a 51% increase in profitability.
Profit before tax rose to USD 16.93 million, up from U$11.20 million recorded the previous year.
EADB also posted significant growth in its lending operations, with loan disbursements increasing by 140% and outstanding loans rising by 52%, reflecting improved operational efficiency and portfolio performance.
Speaking after the meeting, the outgoing Chairperson of the Governing Council and Uganda’s Minister of Finance, Planning and Economic Development, Hon. Matia Kasaija, said the Bank’s performance demonstrates its growing ability to mobilize resources and support transformative projects across member states.
“This strong performance is a testament to EADB’s enhanced capacity to mobilize resources and deploy innovative financing solutions. In the past year, we supported a more diverse range of projects across key sectors in our member states,” Kasaija said.
“We remain committed to delivering on our five-year Strategic Plan as we grow our investment portfolio and deepen our developmental impact in the region,” he added.
Kasaija further explained that the newly established fund recognizes the important role played by youth and women in driving economic transformation across East Africa.
“We recognise that youth and women are critical drivers of economic growth and innovation across East Africa. The establishment of this Fund is a strategic step towards scaling enterprises led by these groups through prudent and targeted financing that will be channelled through EADB’s partner financial institutions,” he said.
He noted that while the fund will initially be financed through the Bank’s profits, EADB management has been tasked with mobilizing additional resources from development partners to expand the initiative and ensure its long-term sustainability.
The Governing Council meeting also marked significant leadership changes within the Bank.
Rwanda’s Minister of Finance and Economic Planning, Hon. Yusuf Murangwa, was confirmed as the new Chairperson of the EADB Governing Council, succeeding Hon. Kasaija.
Meanwhile, Uganda’s Permanent Secretary at the Ministry of Finance, Planning and Economic Development, Dr. Ramathan Ggoobi, was appointed Chairperson of the EADB Board of Directors for a two-year term, taking over from Tanzania’s Permanent Secretary in the Ministry of Finance, Dr. Natu Mwamba.
The meeting brought together senior government officials and members of the EADB Board of Directors from member states, including Kenya’s Cabinet Secretary for the National Treasury and Economic Planning, Hon. John Mbadi Ng’ongo, and Tanzania’s Minister of Finance, Hon. Amb. Khamis Mussa Omar.
The latest developments are expected to strengthen EADB’s role in advancing regional integration, sustainable investment, and inclusive economic growth across East Africa.
By Andrew Shyaka
