The Board of Directors of the East African Development Bank (EADB) has announced the retirement of Vivienne Yeda as Director General of the Bank effective Tuesday, December 31, 2024, upon completion of her tenure.
Yeda’s retirement follows an outstanding 17-year career with the bank, having joined in 2008.
During her term as Director General, the Board says the bank has recorded tremendous growth, with total assets rising from USD 244 million in 2008 to USD 497 million this year, while profitability grew to USD 13 million this year from a loss of USD 9 million in 2008.
Noting that under her leadership, Non-Performing Loans (NPLs) contracted from a high of 26 percent in 2009 to 0.88% this year amidst a favourable credit rating of A by S&P Global Ratings.
Further, adding that Yeda has been instrumental in cementing the Bank’s position as the premier development lender in the region, supporting numerous Small and Medium-Sized Enterprises across Kenya, Uganda, Tanzania, and Rwanda in line with the Bank’s strategic goals and ambitions.
The Board thanked Yeda for her tireless dedication to EADB, and for her commitment that has yielded remarkable growth and transformation for the institution.
Meanwhile, the Board announced the appointment of Benard Paul Mono as the acting Director General for the Bank pending conclusion of the recruitment process for the role.
Mono is a Finance and Banking Professional with over 20 years, mostly in development financing, having also practiced in the hospitality and manufacturing industries.
Presently, he is the Head of Finance and chairs number of committees in the Bank.
He is a certified public Accountant and holds Master of Applied Finance from Macquarie University, Australia in addition to a Bachelor of Commerce (Accounting) from the University of Dar es salaam, Tanzania.
