EADB launches $13 million fund for women, youth enterprises

Kampala. The East African Development Bank has unveiled a $13 million fund targeting women and youth-led businesses across East Africa, as the regional lender also announced changes in its top leadership.

According to the bank statement, the new facility, announced during the bank’s Governing Council meeting in Kampala, is aimed at expanding access to finance for enterprises led by women and young entrepreneurs through partner financial institutions across member states.

The initiative forms part of EADB’s 2024–2028 Strategic Plan, which focuses on promoting inclusive and sustainable economic development in the region.

The announcement came as the bank reported a strong financial performance for the year ended December 2025, with profit before tax rising by 51 percent to $16.93 million from $11.20 million recorded in the previous year.

Loan disbursements also increased sharply by 140 percent, while outstanding loans rose by 52 percent at the close of the financial year, reflecting stronger lending activity and improved operational performance.

Outgoing Governing Council chairperson and Uganda’s Minister for Finance, Planning and Economic Development, Mr Matia Kasaija, said the performance demonstrated the bank’s growing capacity to mobilise resources and finance projects across strategic sectors in member states.

“This strong performance is a testament to EADB’s enhanced capacity to mobilise 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,” he said.

He added that the bank remained committed to implementing its five-year strategic plan while expanding its investment portfolio and deepening its development impact across the region.

Mr Kasaija said the newly established fund underscored the bank’s recognition of the role played by women and young people in driving economic growth and innovation in 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,” he said.

According to him, a significant share of the fund will be financed through the bank’s profits, while management has also been tasked with mobilising additional resources from development partners to ensure sustainability and broaden its reach.

The meeting brought together senior government officials and members of the EADB Board of Directors from member states, including Rwanda’s Minister for Finance and Economic Planning, Yusuf Murangwa, Kenya’s Cabinet Secretary for the National Treasury and Economic Planning, John Mbadi, and Tanzania’s Minister for Finance, Khamis Mussa Omar.

The session also marked leadership changes within the institution in line with the bank’s charter.

Mr Murangwa was confirmed as the new chairperson of the Governing Council, succeeding Mr Kasaija, while Uganda’s Permanent Secretary at the Ministry of Finance, Planning and Economic Development, Ramathan Ggoobi, was appointed chairperson of the Board of Directors for a two-year term.

He replaces Tanzania’s Permanent Secretary in the Ministry of Finance, Dr Natu Mwamba.

Established in 1967 under the Treaty for East African Cooperation, EADB was mandated to provide financial and technical assistance to projects that contribute to the region’s socio-economic development.

The institution was later re-established under a new Charter in 1980, expanding its mandate to offer broader financial services aimed at supporting regional integration and economic growth.

Today, the bank is jointly owned by Kenya, Uganda, Tanzania and Rwanda, alongside development finance and commercial institutions, and continues to play a key role in financing regional development projects.