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Uganda’s Permanent Secretary and Secretary to the Treasury, Ramathan Ggoobi, has been appointed Chairperson of the Board of Directors of the East African Development Bank (EADB) for a two-year term as the regional lender unveiled a new Shs48.7 billion fund targeting youth and women-led enterprises across East Africa- Nile post UG reports.
📸: Ramathan Ggoobi, Permanent Secretary and secretary to the Treasury of Uganda - The New Chairperson of the Board of Directors of the EADB.
Ggoobi takes over from Tanzania’s Permanent Secretary in the Ministry of Finance, Dr Natu Mwamba, following resolutions reached during the EADB Governing Council meeting held in Kampala on Friday. Rwanda’s Finance Minister Yusuf Murangwa was also confirmed as the new Chairperson of the EADB Governing Council, replacing Uganda’s Finance Minister Matia Kasaija.
The appointments were announced alongside the launch of a new USD 13 million (approximately Shs48.7 billion) fund aimed at supporting youth and women entrepreneurs, a move EADB described as a strategic intervention to improve access to financing for underserved groups across the region.
According to EADB, the bank registered strong financial growth in 2025, with profit before tax rising by 51 percent to USD 16.93 million from USD 11.20 million the previous year. Loan disbursements reportedly grew by 140 percent while outstanding loans increased by 52 percent.
Speaking after the meeting, Kasaija said the bank’s improved performance reflects its growing ability to mobilise resources and finance transformative projects across East Africa. He added that the youth and women fund would mainly be financed through the bank’s profits, although additional support from development partners is still being pursued.
Established in 1967, the East African Development Bank is one of the region’s key development finance institutions, supporting industrialisation, infrastructure, trade and regional integration projects in member states including Uganda, Kenya, Rwanda and Tanzania.
Ggoobi takes over from Tanzania’s Permanent Secretary in the Ministry of Finance, Dr Natu Mwamba, following resolutions reached during the EADB Governing Council meeting held in Kampala on Friday. Rwanda’s Finance Minister Yusuf Murangwa was also confirmed as the new Chairperson of the EADB Governing Council, replacing Uganda’s Finance Minister Matia Kasaija.
The appointments were announced alongside the launch of a new USD 13 million (approximately Shs48.7 billion) fund aimed at supporting youth and women entrepreneurs, a move EADB described as a strategic intervention to improve access to financing for underserved groups across the region.
According to EADB, the bank registered strong financial growth in 2025, with profit before tax rising by 51 percent to USD 16.93 million from USD 11.20 million the previous year. Loan disbursements reportedly grew by 140 percent while outstanding loans increased by 52 percent.
Speaking after the meeting, Kasaija said the bank’s improved performance reflects its growing ability to mobilise resources and finance transformative projects across East Africa. He added that the youth and women fund would mainly be financed through the bank’s profits, although additional support from development partners is still being pursued.
Established in 1967, the East African Development Bank is one of the region’s key development finance institutions, supporting industrialisation, infrastructure, trade and regional integration projects in member states including Uganda, Kenya, Rwanda and Tanzania.