SICOM invests $2 million to become third Mauritian shareholder in TDB

State-owned SICOM Group’ subsidiary SICOM Global Fund Limited has entered the shareholding of the Eastern and Southern African Trade and Development Bank (TDB) with an investment of approximately USD 2 million in equity capital.

SICOM Group has become TDB’s third institutional shareholder from Mauritius alongside the National Pension Fund of Mauritius (NPF) and Eagle Insurance Ltd, and TDB’s 21st.  

TDB Group President Emeritus and Managing Director Admassu Tadesse said “It is our pleasure to welcome SICOM Group to our community of shareholders. We appreciate the vote of confidence from institutional investors in Mauritius, where one of our principal offices is located, as well as where some of TDB Group’s subsidiaries and other key initiatives are domiciled.”

In 2013, TDB Group launched its Class B shares dedicated to institutional investors. Class B shares are denominated in USD dollars.  To date, some USD  274 million have reportedly been invested into the capital stock of TDB by institutional shareholders.

Source: TDB