President Museveni meets President Kagame, PTA chief

Thursday 22nd May 2014

President Yoweri Museveni has today met and held bilateral discussions with his host President Paul Kagame at Serena Hotel in Kigali at the sidelines of the ongoing AfDB annual meeting.

The two leaders discussed bilateral issues affecting their two countries. 

In a separate meeting, President Museveni also held a discussion with Admassu Tadesse, the President and Chief Executive Officer of the Preferential Trade Area Bank, commonly known as the PTA Bank, a trade and development financial institution in Africa to which Uganda is a member. 
The PTA Bank is the financial arm of COMESA, but membership is open to non-COMESA States and other institutional shareholders.

Mr. Tadesse briefed the President about the affairs in the bank and the growing membership, pointing out that Mozambique, Angola and Madagascar are now on board. He urged President Museveni to encourage Southern Sudan to join the bank and boost trade between the two countries.
As of December 2011, the bank had an asset base in excess of US$1.37 billion.

The bank had nineteen shareholders, with shareholders funds in excess of US$210.24 million.

The PTA Bank membership comprises eighteen member states including Uganda, seventeen of which are COMESA members.

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