Bank One has extended a USD 5 million facility to ESATF, an African trade fund managed by the ESATAL fund management company, a TDB Group subsidiary, to support trade finance on the continent.
The facility is designed to support the Fund’s growing loan book. The financing will be deployed to meet the rising demand for trade finance across Africa, a key growth market for both institutions.
TDB Group and Bank One share a long-standing relationship which was first established with Bank One’s participation in the syndicated loans of TDB Group’s Trade and Development Banking operations.
This facility is a new area of collaboration between both institutions, and Bank One’s first direct lending engagement with ESATF. It reflects the institution’s confidence in the Fund as a strong and well-managed trade finance vehicle, with a diversified and de-risked loan portfolio.
ESATAL Executive Director Umulinga Karangwa said “We are pleased to strengthen our partnership with Bank One as we extend our trade finance reach across African markets. This latest collaboration builds on the existing relationship with TDB Group and reflects a shared commitment to unlocking capital for businesses that drive regional trade and economic development. As ESATF continues to scale-up, such partnerships are key to deepening our impact and expanding access to much-needed financing across the continent.”
From left to right: Sunil Ramgobin, CEO, Bank One Limited and Admassu Tadesse, Group President and Managing Director, TDB Group after signing the partnership
Bank One CEO, Sunil Ramgobin adds: “Over the past few years, Bank One has joined TDB on two syndicated debt raises, demonstrating our shared mission to promote sustainable, inclusive growth across Africa. This third collaboration—a USD 5 million trade finance facility to ESATF—reinforces our joint ambition to deliver measurable social, environmental and developmental impact. By supporting ESATF’s growing loan book, we respond to rising demand for trade finance across African markets. We stand alongside TDB Group in building a stronger, more resilient Africa and look forward to achieving many more milestones together as we finance progress that truly matters.”
With USD 300 million in net assets under management as of June 2025, and over 60 investors in its diverse stable, the ESATF trade fund serves as a strong platform for institutional investors looking to support Africa’s growing trade finance sector, and its impact across several sectors, including for SMEs, women and smallholder farmers.
About TDB Group:
Established in 1985, the Trade and Development Bank Group (TDB Group) is an African regional multilateral development bank, with a mandate to finance and foster trade, regional economic integration and sustainable development in Africa. TDB Group counts several subsidiaries and strategic business units including Trade and Development Banking, TDB Asset Management (TAM), the Trade and Development Fund (TDF), TDB Captive Insurance Company (TCI), the ESATAL fund management company and TDB Academy.
About ESATAL fund management company:
The ESATAL fund management company, a wholly owned TDB Group subsidiary, manages trade finance funds aligned with TDB Group’s commitment to promoting trade-led economic and social development. One of its key initiatives is the ESATF trade fund, a collective investment scheme financing shortto medium-term trade transactions, particularly those involving small and medium-sized enterprises (SMEs). ESATAL and ESATF are part of TDB Group’s asset management activities which are focused on the design, origination, and growth of stand-alone investment vehicles for a wide range of investors and development partners. Domiciled in Mauritius, ESATAL and ESATF are regulated by the Financial Services Commission as collective investment scheme (CIS) fund manager and CIS expert fund, respectively.
About Bank One:
Bank One is a joint venture between CIEL Finance Limited in Mauritius and Kenya-based I&M Group PLC. Bank One provides a wide range of banking products and services to its clients through a geographic footprint spread across the island of Mauritius, comprising 7 branches and a well-distributed ATM network. As the financial landscape in sub-Saharan Africa continues to evolve, Bank One is determined to play an active role in supporting individuals, businesses and communities through continuous innovation and value addition. Bank One has deep development finance institution relationships and long-term funding lines in place with the German Investment Corporation (DEG), the International Finance Corporation (IFC), and the French Development Agency (Proparco). Bank One has been rated ‘BB-‘ with a Stable Outlook by Fitch Ratings.
