Museveni meets Kagame, PTA Bank chief

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

The two leaders discussed issues affecting their two countries.

In a separate meeting, Museveni also held a discussion with Admassu Tadesse, the President and Chief Executive Officer of the Preferential Trade Area (PTA) Bank.

PTA Bank is a trade and development financial institution in Africa to which Uganda is a member.

It is the financial arm of COMESA, but membership is open to non-COMESA states and other institutional shareholders.

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Among the panelists were (right to left) Deputy President William Ruto (Kenya), President Museveni, President Paul Kagame and President Ali Bongo (Gabon). PHOTO/PPU

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Left-right: Benjamin Mkapa (ex-Tanzanian president), AU Chairperson D. Zuma, Rwanda’s Finance Minister Gatete, Gabon President Ali Bongo, Yoweri Museveni, Paul Kagame, Mauritania's Abdla Aziz, Kenya’s Deputy President William Ruto, ADB's Donald Kaberuka and Botswana’s former President Sir Ketumire Masire during the official opening of African Development Bank Annual meeting, in Kigali Rwanda. PHOTO/PPU

CEO Tadesse briefed the Ugandan leader about the affairs in the bank and its growing membership, pointing out that Mozambique, Angola and Madagascar are now on board.

He urged Museveni to encourage South Sudan to join the bank and boost trade between the two countries.

As of December 2011, the financial institution had an asset base in excess of US$1.37 billion. It had 19 shareholders, with shareholder funds in excess of US$210.24 million.

The PTA Bank membership comprises 18 member states including Uganda, 17 of which are COMESA members.