PTA BANK CHIEF IMPRESSED WITH AHCX
On February 26th 2015, Mr. Admassu Tadesse, President and CEO of PTA Bank made a historic visit to the Exchange to appreciate how the market is contributing to the diversification of the country’s agricultural exports. Accompanied by AHL Group CEO and Chairman of the AHCX board, Dr. Evans Matabwa, Mr. Tadesse visited a display of samples of the commodities which are traded on the Exchange floor before being briefed on the operations of the Exchange. These included how the commodities are received at the warehouses, trade floor operations and finally clearing and settlement of proceeds.
After signing the visitor’s book, Mr. Tadesse addressed AHCX staff and expressed his delight and confidence in AHCX, as a catalyst to develop Malawi’s economic development and countries across the African continent on the path to prosperity. He said there is a great deal of opportunities for countries in Africa to grow their respective economies noting that lack of resources and organized markets are some of the major setbacks. Mr. Tadesse indicated that the PTA Bank, as a partner, appreciates the challenges faced by African economies hence it has a passion to invest in projects that provide sustainable economic development for Malawi in particular and most African countries at large. The esteemed visitor also graced a trade session and interacted with AHCX management team and representatives of AHL Group executive management team.
Established in 1985, PTA Bank provides project, infrastructure and trade finance to incorporated businesses and conducts such business in the Bank’s member states which include Burundi, Comoros, Djibouti, Egypt,Eritrea, Ethiopia, Kenya, Malawi, Mauritius, Rwanda, SeychellesSomalia, Sudan, Tanzania, Uganda, Zambia, and Zimbabwe.